Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The Radiology Information System (RIS) market experiences growth due to the increasing demand for digitalization in radiology practices. Given that traditional film-based systems are gradually shifting from being practiced to digital solutions that can be used in stored imaging radiological data and patient records, healthcare providers facilitate image management.
Integration of RIS with Picture Archiving and Communication Systems is a crucical market driver. In addition, the smooth match between RIS with PACS improves the management and interpretation of images in radiology departments as a whole that makes applications integrated with each other demanded by many.
More healthcare data is growing, especially in imaging with the use of additional diagnostic images procedures. And this requirement leads to developing information systems capable of handling an increasing amount of data. The need of a RIS system to address this demand arises from the ability to control and schedule efficient management over large mounted datasets, thus providing easy access for instant patient information and images respectively.
Government initiatives and incentives propelling the healthcare information system increase in levels are positive factors that work to support the market of RIS. Also, hospitals and other health institutions have developed incentive programs where they encourage their healthcare providers to adopt the EHR system in radiology information management so that they can advance the market.
Effective interoperability platform integration in health systems is therefore a vital consideration that healthcare providers should seek to maintain since it ensures communication between and across different healthcare IT systems. RIS solutions applying the standards that support health information systems and operability with these systems, like EHRs, play a vital role in healthcare delivery efficiency.
Market has developed by increasing demand of cloud-based RIS solutions. Cloud computing gives an unprecedented ability to work in a flexible manner, easily scalable and at the same time accessible from diverse locations. This is consistent with a larger shift away from on-premises solutions towards cloud technology in healthcare IT.
The main challenge for healthcare organizations is to find the most cost-effective option without sacrificing functionality. RIS providers offering scalable solutions that cater to the needs of both small and large healthcare facilities gain a competitive edge, especially in resource-limited settings. The challenges associated with managing complex radiology workflows, including appointment scheduling, image interpretation, and report generation, influence the adoption of RIS solutions. Vendors addressing these challenges with user-friendly interfaces and comprehensive features contribute to market growth.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | Â Â 11.20% : 2030 |
Radiology Information System Market Highlights:
Global Radiology Information System Market Research Overview
Radiology Information System Market Size was valued at USD 1.86 Billion in 2023. The Radiology Information System industry is projected to grow from USD 2.02 Billion in 2024 to USD 3.92 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.64% during the forecast period (2024 - 2032). The market is predicted to expand due to expanding population, increased number of radiology specialists and practices, R&D spending, and desire for cloud-based solutions. Furthermore, in recent years, the number of people suffering from chronic diseases such as cancer, COPD, arthritis, osteoporosis, and others has increased dramatically. This is boosting the demand for medical imaging, driving the expansion of the radiology information system (RIS) market. ​
For instance, financial incentives are available to healthcare providers who use certified RIS software. The care providers must demonstrate meaningful use of the program at the stage 2 level. Eligible professionals can get up to USD 63,750 in Medicaid benefits and up to USD 44,000 in Medicare benefits. This government program has contributed significantly to the increased use of RIS software by radiologists and medical imaging experts.
COVID-19 Impact Analysis
The pandemic of COVID-19 had a substantial impact on the market, particularly in the first half of 2020. According to a study published in the journal Radiology, the number of imaging tests in the US dropped by 40-50% by 2020. When compared to inpatient and emergency departments, the decline in outpatient imaging volume was substantially larger. The gradual increase in patient flow following the pandemic and the resumption of elective imaging operations is expected to strengthen the market. ​
Radiology Information System Market Dynamics
The radiology information systems (RIS) market is expected to grow substantially throughout the projected period. Radiology Information Systems, in the form of dental radiology technology, are gaining prominence in dentistry. This category includes intraoral plate scanners, cone-beam computed tomography imaging, intraoral X-rays, and extraoral X-rays. Furthermore, an increase in radiology information system (RIS) applications will likely drive market expansion. Rising awareness of the benefits of minimally invasive treatments is expected to help market expansion.
Market Drivers
- The increasing prevalence of chronic diseases is likely to fuel the expansion of the market
The increased prevalence of chronic diseases such as cancer, arthritis, cardiovascular disease, and diabetes due to rising fast-food consumption and sedentary lifestyles is one of the key reasons driving the market. For instance, in February 2020, The Radiologex Foundation announced the beginning of Radiologex. It is a healthcare software ecosystem that comprises productivity tools, clinical information systems, medical imaging processing and storage, payment settlement systems, and lending/finance systems.
Market Restraints
- Concerns regarding the safety and security of patient data are growing
Despite various considerations, the increased threat of cyber-attacks and the potential exploitation of patient-related personal data stymies RIS adoption and market expansion. However, the radiology information systems (RIS) market is projected to be hampered by a lack of educated IT experts and high treatment costs. Interoperability difficulties will also provide a barrier, potentially stifling the expansion of the radiology information systems (RIS) market.
Market Opportunities
- Increase in expenditure for the healthcare IT sector
Technological advancement and rising healthcare IT spending are likely to propel the radiology information systems (RIS) market forward and give lucrative prospects for expanding radiology information system (RIS). Furthermore, technological advancement and growing markets will create new prospects for the market for radiology information system future growth rate.
Radiology Information System Market Segmentation
Type Insights
The market segmentation of radiology information system, by type, is integrated radiology information system and others. Integrated radiology information system has the most revenue share in the radiology information system market growth in 2021 and is expected to register the fastest CAGR throughout the forecast period. RIS and PACS contain databases, especially if purchased from different suppliers. Integrated RIS, on the other hand, incorporates a RIS-PACS solution with a single worklist generated upon registration, which improves workflow operations throughout the business platform. The rise of integrated radiology information systems has simplified and streamlined procedures in radiology departments, allowing staff to concentrate on the task at hand.
Deployment Insights
The radiology information system market segmentation by deployment is analyzed for cloud-based/web-based and on-premises. In 2021, the cloud-based/web-based segment dominated the market with the highest revenue share. The cloud/web-based section is intended to evolve clinical and business needs across the continuum of care and assist in connecting patient information to any desired destination. McKesson's RIS, for example, includes a wide range of Electronic Health Records (EHR) and provides cloud-based and server-based solutions, improving physician productivity and quality treatment. The cloud-based/web-based market is also predicted to increase rapidly during the forecast period. Cloud-hosted services are far less expensive than direct purchases. Instead of purchasing the full model, customers can subscribe to the most recent version for a minimal monthly fee.
Component Insights
The market for a radiology information system by deployment is analyzed for software, services, and others. In 2021, the software segment dominated the market with the highest revenue share due to technological advancements.
End User Insights
By end user, the market is segmented into hospitals & clinics and research & academic institutes. The hospitals and clinics segment had the most revenue share in 2021 and is expected to grow at the fastest CAGR throughout the forecast period. The most common application of RIS is in hospitals to save the patient record in the form of a database that includes full data for scheduling, patient monitoring, picture tracking, and result reporting. Large healthcare IT businesses are involved in integrating all hospital databases that connect a care setting's systems and equipment.
Global Radiology Information System Market Market Share by Region
By Region, the market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North American region accounted for the most extensive market share. Asia-Pacific will exhibit the highest CAGR during the forecast period.
North America
In 2021, North America had the highest revenue share of the market for radiology information system. The progress of the RIS, an increase in the number of radiologists, and the launch of new software systems by current providers are all factors driving market expansion in the United States. The introduction of comprehensive RIS with integrated PACS has made medical imaging procedures more systematic and easier, resulting in increased patient compliance and regional expansion.
Asia-Pacific
During the forecast period, Asia-Pacific is expected to have the greatest CAGR in the market for radiology information system. The increased number of outsourced services in the Asia-Pacific, combined with growing awareness of the need for workflow management in hospitals, clinics, and diagnostic laboratories, is driving the region's demand for RIS.
Radiology Information System Market Competitive Landscape
The market includes tier-1, tier-2, and local players. The tier-1 and tier-2 players have reach with diverse product portfolios. Companies such as NextGen Healthcare (US), GE HEALTHCARE (US), Koninklijke Philips NV (Netherlands), and Bayer AG (US) dominate the market due to product differentiation, financial stability, strategic developments, and diversified regional presence. The players are concentrating on supporting research and development. Furthermore, they embrace strategic growth initiatives, such as development, product introduction, joint ventures, and partnerships, to strengthen their market position and capture an extensive customer base.
Prominent players in The radiology information system market research include NextGen Healthcare (US), GE HEALTHCARE (US), Koninklijke Philips NV (Netherlands), Bayer AG (US), Medinformarix Inc. (US), Cerner Corporation (US), Allscripts Healthcare Solutions (US), IBM Waston Health (US), LLC (US), among others.
Scope of The radiology information system market Report
Type Outlook
- Integrated Radiology Information System
- Others
Component Outlook
- Software
- Services
- Others
Deployment Outlook
- Cloud-Based/Web-Based
- On-Premises
End User Outlook
- Hospitals & Clinics
- Research & Academic Institutes
Region Outlook
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia and New Zealand
- Rest of Asia-Pacific
- Rest of the World
- South America
- Middle East
- Africa
Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
Radiology Information System Market Forecast & Size:
To identify and estimate the market size for The radiology information system market report segmented by type, component, deployment, and end-user by value (in US dollars). Also, to understand the consumption/ demand created by consumers in The radiology information system market forecast between 2024 and 2032.
Market Landscape and Trends:
To identify and infer the drivers, restraints, opportunities, and challenges in The radiology information system market growth
Market Influencing Factors:
To find out the factors which are affecting The radiology information system market size among consumers
Impact of COVID-19:
To identify and understand the various factors involved in the market affected by the pandemic
Company Profiling:
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
Intended Audience
- Producers
- Hospitals, Healthcare key players
- Governments, associations, and industrial bodies
Recent developments
Jan 2023:Allscripts Healthcare Solutions (US) launch of its new cloud-based health information system, which is expected to revolutionize the way patients access and manage their healthcare data.
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
