“The global market is anticipated to surpass USD 750 Million by 2020”, says Visiongain

07 November 2019
Pharma

Visiongain has launched a new pharma report “Radiology Information System Market Report 2020-2030” Prospects by Product (Integrated Type, Standalone Type), Deployment mode (Web-based, On-premise, Cloud-based), End use (Hospitals & Clinics, Outpatient Department (OPD) Clinics, Other end users) and Geography.

Global Radiology Information System market is projected to grow on account of growing geriatric population, and growing number of chronic diseases among others. The global market is projected to grow at a lucrative CAGR of ~7% from 2020 to 2030 and is anticipated to surpass USD 750 Million by 2020.

A radiology information system is a computer system built to promote efficient workflow and business analysis. This system helps in handling all of the department's business functions including patient care, evaluation, and monitoring of inventory. These systems are user-friendly and easy to access. Also, these systems offer advantages such as reliability, high security, and privacy, as only authorized users can access them.

Factors such as improved information technology systems for healthcare, increased incidence of chronic diseases, increased government support for cancer-related research, and increased demand for better healthcare services are some of the key drivers responsible for the growth of the information systems market for radiology.

The high installation cost of these systems limits the growth of the market. Because of the high cost, the implementation of these systems is not feasible for all hospitals. Furthermore, the market growth of radiology information systems is also limited by interoperability problems and the lack of skilled workers.

In 2018, the web-based segment led the overall market for radiology information systems. Web-based RIS is designed to transform medical and business needs throughout the care continuum and help deliver patient information to any desired destination. McKesson's RIS, for instance, features a wide range of Electronic Health Record (EHR) and offers cloud-based and server-based applications, maximizing doctor productivity and quality care. To create a comprehensive radiology software, cloud-based RIS can be integrated with Artificial Intelligence (AI) algorithms. These AI tools allow doctors to provide reliable and faster diagnosis and can be combined with any AI tool from third parties.

In 2018, North America dominated the global radiology information system market. The growth of the U.S. market is attributed to developments in the RIS, an increase in the number of radiologists, and the adoption by existing providers of new software systems. The launch of comprehensive RIS with integrated PACS has made the medical imaging process systematic and easier, leading to further regional growth in patient compliance.

On the other hand, Asia Pacific is likely to exhibit an incredible CAGR over the 2020-2030 forecast period. Increasing number of outsourcing providers in Asia Pacific as well as increasing awareness of the value of workflow management in hospitals, clinics and diagnostic laboratories are responsible for the growth of the RIS industry.

Some of the major players operating in this industry are Allscripts, Cerner Corporation, Epic Systems Corporation, GE Healthcare, KONINKLIJKE PHILIPS N.V, Mckesson Corporation, Medinformatix, Inc., Merge Healthcare, Philips Healthcare, Siemens Healthcare, Carestream Health, Inc. , Postdicom, MILLENSYS, PaxeraHealth, FUJIFILM Holdings America Corporation, Voyager Imaging, Soliton IT Ltd, Healthinc, Aptvision, ASPYRA, LLC among other prominent players.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

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