Radiology Information System Market vendors, Size, Segments and Growth by Forecast to 2027

[Priya Raut]

A radiology information system (RIS) refers to a core system for the electronic managing for imaging departments. Some of the primary functions of a radiology information system (RIS) include patient scheduling, examination performance tracking, resource management, results distribution, procedure billing, and reporting. A RIS is a revolutionary technology in the healthcare sector and is in high demand all over the world. The development of the system has aided physicians to keep track of the radiology imaging order.
The Radiology Information System Market vendors is estimated to expand at an 8.20% CAGR through the forecast period. A shift of day-to-day and scheduled activities in the healthcare setup in an electronic format has provided additional momentum to the RIS market growth over the forecast period. Moreover, the use of such a system enables a more organized management of data, easier accessibility, and streamlining of workflows in the setup. Increased reliance on information systems has augmented the demand in the market over the review period.
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Market Segmentation
The global Radiology Information System Market is studied for various segments based on component, type, end-users, deployment, and region. Based on components, the global Radiology Information System Market is segmented into services, software, and hardware. Based on type, the global RIS market is segmented into standalone radiology information system and integrated radiology information system. Based on end-users, the global radiology information system market is segmented into research & academic institutes and hospitals & clinics. Based on deployment, the global Radiology Information System Market is segmented into on-premise and on-cloud/ web-based.
Detailed Regional Analysis
The global Radiology Information System Market is regionally segmented into the Americas, Asia Pacific, Europe, and the Middle East & Africa. The Americas are anticipated to dominate the global Radiology Information System Market over the forecast period. This can be credited to the cost-effectiveness of EHRs, mounting geriatric population, and elevations witnessed in technological advancements. Further, a surge in the usage of cloud computing and web-based solutions are expected to drive the regional radiology information system market during the assessment period. A rise in the number of chronic diseases and the merging of healthcare providers is boosting marginal growth in the regional radiology information system market by 2023.
Europe and Asia Pacific are expected to showcase new growth opportunities for radiology information systems (RIS) over the assessment period. Together, both Europe and Asia Pacific are estimated to hold the largest share of 74.8% in the global Radiology Information System Market. Within Asia Pacific, the RIS market is primarily driven by factors such as rapid digitization noted in the healthcare sector, and several expansion opportunities provided by both, developed and developing countries residing in the region. Pharmaceutical companies existing in these regions are projected to undertake various strategic initiatives to expand and capture larger market shares. These strategies include joint mergers, acquisitions, and strategic partnerships with players in the same industry or relevant industries to create new and innovative solutions and gain a competitive edge in the global landscape.
Key Players
Some of the prominent players in the global Radiology Information System Market, as profiled by Market Research Future (MRFR), include Ambra health, Advanced data systems corporation, IMAGE information systems, Epic Systems, Carestream Health, eRAD, PERFECT Imaging, LLC, IBM Watson health, Allscripts healthcare solutions, NextGen Healthcare, Cerner Corporation, Medinformatix, Inc, Bayer AG, Koninklijke Philips N.V, and GE Healthcare.
Industry Update
June 2019: Wellbeing has launched a Connected Radiology Programme to help radiology departments to share resources, augment workflows, and address reporting backlog issues. Wellbeing is a software company providing Cris, a radiology information system (RIS).
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