Global Radiology Information System Markets, 2022-2028 - Integration of Artificial Intelligence (AI) to Radiology Information System Likely to Boost Market Growth

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Dec 05, 2022, 08:02 ET

DUBLIN, Dec. 5, 2022 /PRNewswire/ -- The "Global Radiology Information System Market (By Type, Deployment, Component, End Users, Region), Impact of COVID-19, Key Company Profiles, Recent Developments - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global radiology information system market is projected to surpass US$ 1,610 Million by 2028

The global market for radiology information systems (RIS) is expected to increase rapidly as a result of rising number of radiology professionals and practices, growing preference for web-based solutions, technological development and rising healthcare IT spending, which presents favorable possibilities for market growth.

Moreover, incorporating Artificial Intelligence (AI) in RIS will provide lucrative growth opportunities for market participants. The integration of AI to RIS leads to improved workflow, better patient care, and consistent radiologist support. Furthermore, government initiatives to increase RIS adoption are expected to aid market growth.

Impact of COVID-19 on Global Radiology Information System Market

COVID-19 pandemic had a significant impact on the radiology information system market. According to a research article titled "The Economic Impact of the COVID-19 Pandemic on Radiology Practices" published in the Radiological Society of North America in April 2020, the policy measures adopted to slow the transmission of COVID-19 decreased the demand for imaging services.

However, many countries have taken strict measures to combat the coronavirus, such as mass vaccination program, social distancing, use of masks, etc. Hence, we expect the radiology information system market to grow at a significant rate in the years to come.

Global Radiology Information System Market - Recent Developments

In May 2022, FUJIFILM Healthcare Americas Corporation partnered with RAYUS Radiology to deploy Fujifilm's Synapse Enterprise Information System (EIS) as the workflow management solution for its comprehensive network of over 150 imaging centers across the United States.

In December 2021, Sirona Medical launched a cloud-native radiology operating system (RadOS) at the 2021 Annual Meeting for the Radiological Society of North America (RSNA).

In February 2020, Radiologex Foundation had announced the launch of Radiologex. It's a software ecosystem for the healthcare business that includes productivity tools, clinical information systems, medical imaging processing and storage, payment settlement systems, and lending/finance systems.

By Type - Global Radiology Information System Market and Forecast

Based on type, the radiology information system market is segmented into integrated systems and standalone systems. In 2021, the integrated radiology information systems dominated the overall radiology information system market.

The integrated radiology information system helps improve workflow processes, better patient care, and consistent radiologist support. Furthermore, these systems are easier to maintain than that of the standalone systems, making them an ideal fit for most of the healthcare organizations. A standalone radiology information system is more common in smaller hospitals and clinics.

By Deployment - Global Radiology Information System Market and Forecast

On the basis of deployment, the radiology information system market has been segmented into web-based RIS, cloud-based RIS, and on-premises RIS. The web-based RIS segment held significant share of the overall radiology information system market in 2021.

Web-based RIS is designed to evolve clinical and business needs across the continuum of care and help connect patient information to any required destination. The Cloud-based segment is expected to grow at the highest rate during the forecast period. In comparison to direct purchase models, cloud-based services are extremely affordable.

This is because, instead of buying the entire model, consumers can subscribe to the most recent version of a radiological information system at a lesser cost.

By Component - Global Radiology Information System Market and Forecast

On the basis of component, the radiology information system market has been segmented into hardware, software, and services. Services component segment held the largest market share in 2021 due to improving healthcare infrastructure in the emerging markets.

Software segment is anticipated to be the most attractive segment in terms of growth rate during the forecast period, attributed to increasing adoption of integrated radiology information systems across the globe.

By End Users - Global Radiology Information System Market and Forecast

On the basis of end users, the market has been classified into hospitals, office-based physicians, emergency healthcare service providers, diagnostic labs, and other end users. Hospitals are the largest users of radiology information system because they see a large number of patients every day.

The implementation of radiology information system allows hospital staff to enhance patient care by providing immediate access to radiology data. The office-based physicians are poised to witness the highest growth over the forecast period. The use of radiology information system helps office-based physicians reduce their workload by providing them with instant access to radiology data.

Emergency departments are under constant pressure to provide timely diagnosis and treatment, hence, radiology information system is a vital part of emergency healthcare service providers.

By Region - Global Radiology Information System Market and Forecast

North America is the largest market for radiology information systems. The increasing demand for advanced healthcare services, well-developed healthcare infrastructure, technological advancements, presence of major market players and the rising incidence of chronic diseases are the key factors driving the growth of the radiology information system market in North America.

The Asia Pacific is the fastest-growing region for radiology information systems. The region has witnessed rapid economic growth in recent years, which has led to an increase in disposable income and spending on healthcare.

Furthermore, growing awareness among people about various diseases and increase in government funding coupled with rapid adoption of digitization in healthcare by emerging economies are expected to fuel the growth of radiology information system market in Asia Pacific.

Market Dynamics

Global Radiology Information System Market - Driving Factors

Growth in the Elderly Population and Subsequent Rise in the Number of Chronic Ailments
Growing Adoption of Cloud Technology Related Services in the Medical Sector
Integration of Artificial Intelligence (AI) to Radiology Information System Likely to Boost Market Growth
Government Initiatives to Boost Adoption of Radiology Information System

Global Radiology Information System Market - Challenges

Increasing Concerns Regarding the Patient Data Safety & Security
Lack of Trained IT Professionals & High Costs Restricts Market Growth

Company Profiles

General Electric Company
Allscripts Healthcare Solutions, Inc
Carestream Health, Inc
Cerner Corporation
Epic Systems Corporation
IBM
Koninklijke Philips N.V.
McKesson Corporation
MedInformatix, Inc
Siemens Healthineers AG
Merge Healthcare Incorporated
Novarad Corp
Shimadzu Corporation
Hologic, Inc.
EIZO Corporation
Sectra AB
Fischer Medical
CANON MEDICAL SYSTEMS CORPORATION
FUJIFILM Holdings Corporation
ESAOTE SPA
Hitachi Ltd.
Elekta AB
Varian Medical Systems (Acquired by Siemens Healthineers)

Key Topics Covered:

1. Executive Summary

2. Impact of COVID-19 on Global Radiology Information System Market

3. Global Radiology Information System Market and Forecast (2015 - 2028)

4. Global Radiology Information System Market Share and Forecast (2015 - 2028)
4.1 By Type - Global Radiology Information System Market Share and Forecast
4.2 By Deployment Mode - Global Radiology Information System Market Share and Forecast
4.3 By Component - Global Radiology Information System Market Share and Forecast
4.4 By End Users - Global Radiology Information System Market Share and Forecast
4.5 By Region - Global Radiology Information System Market Share and Forecast

5. By Type - Global Radiology Information System Market and Forecast (2015 - 2028)
5.1 Global - Integrated Radiology Information Systems Market and Forecast
5.2 Global - Standalone Radiology Information Systems Market and Forecast

6. By Deployment - Global Radiology Information System Market and Forecast (2015 - 2028)
6.1 Web-based - Global Radiology Information System Market and Forecast
6.2 Cloud-based - Global Radiology Information System Market and Forecast
6.3 On-premises - Global Radiology Information System Market and Forecast

7. By Component - Global Radiology Information System Market and Forecast (2015 - 2028)
7.1 Services - Global Radiology Information System Market and Forecast
7.2 Software - Global Radiology Information System Market and Forecast
7.3 Hardware - Global Radiology Information System Market and Forecast

8. By End Users - Global Radiology Information System Market and Forecast (2015 - 2028)
8.1 Hospitals - Global Radiology Information System Market and Forecast
8.2 Office-Based Physicians - Global Radiology Information System Market and Forecast
8.3 Emergency Healthcare Service Providers - Global Radiology Information System Market and Forecast
8.4 Diagnostic Labs - Global Radiology Information System Market and Forecast
8.5 Others - Global Radiology Information System Market and Forecast

9. By Region - Global Radiology Information System Market and Forecast (2015 - 2028)

10. Global Radiology Information System Market - Recent Developments

For more information about this report visit https://www.researchandmarkets.com/r/s5gy5e

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