DUBLIN, May 27, 2022 /PRNewswire/ — The report “Radiology Information Systems Market, Size, Global Forecast 2022-2027, Industry Trends, Share, Growth, Overview, COVID-19 Impact, Company Analysis” has been added to from ResearchAndMarkets.com offer.
The Global Radiology Information Systems Market is Expected to Reach US$1,388.5 million by 2027 from US$843.9 million in 2021
Globally, a networked software suite used to manage medical imaging and data is known as the Radiology Information System (RIS). A RIS is particularly useful for managing radiological records and associated data across multiple sites. It is frequently used with a Picture Archiving and Communication System (PACS) to manage workflow and billing.
A radiology information system (RIS) can track the entire workflow of a patient within the radiology department. Images and reports can be counted and retrieved from electronic medical records (EMR) and viewed by authorized radiology personnel.
The global radiology information system market size is expected to grow at a CAGR of 8.65% during the period 2021-2027:
During the forecast period, the growing prevalence of cancer is expected to drive the growth of the global radiology information systems market. Also, the increasing aging population is expected to contribute to the growth of the market. Moreover, the integration of artificial intelligence (AI) in SIFs will provide lucrative growth opportunities for market players.
Integrating AI into the RIS can result in a smoother workflow, better patient care, and consistent radiologist support. It can also help radiologists deliver a personalized ecosystem experience and deliver faster, more accurate, and consistent diagnoses. Furthermore, government initiatives to increase the adoption of SIFs are expected to drive the market growth.
What impact has Covid-19 had on the global radiology information systems industry:
The novel coronavirus (COVID-19) has spread rapidly in various countries and regions, having a massive impact on people’s lives and the whole community.
Although the Covid-19 epidemic slowed research on RIS, demand remained as the advanced stage of Covid-19 demanded RIS. Additionally, the COVID-19 pandemic has raised awareness of the importance of efficient operation of healthcare facilities, which has influenced the size of the radiology information system, which has grown relatively rapidly.
Also, as the COVID-19 vaccine is introduced, the number of COVID-19 cases is decreasing. As a result, companies involved in the development of radiological information systems have reopened. This will significantly contribute to the growth of the market.
The integrated radiology information system largely meets the needs of diagnostic imaging departments in hospitals and imaging centers:
The development of IRIS has simplified and streamlined the workflow within a radiology department or practice, allowing staff to focus on the job at hand and enabling IRIS to perform at its best. Additionally, the vision in developing IRIS was to create a solution that integrates seamlessly with PACS, providing accurate RIS PACS readers for customers, and radiologists, with the click of a button, dictate reports quickly for faster delivery to referrers.
In addition, IRIS meets the diagnostic imaging needs of hospitals and imaging centers of all sizes. It seamlessly integrates images from all modalities and automatically displays them for radiologists to view during reporting and review. Radiologists can improve reporting efficiency by using digital dictation or voice recognition software.
The cloud-based segment is expected to proliferate over the forecast period:
Compared to the direct purchase model, cloud-hosted services are relatively inexpensive globally. They allow users to subscribe to the most recent version of a radiology information system at a lower cost rather than purchasing the complete model. Since cloud-based systems store data on external servers, they are easily accessible via the Internet and only require a computer with an Internet connection to function properly.
Additionally, cloud-based delivery makes it easier for healthcare providers and patients to access information. Because cloud-based radiology information systems are less expensive, they are ideal for small to medium-sized hospitals that cannot afford large hardware investments. Also, it allows medical practitioners and doctors to restrict access to sensitive information. Due to numerous benefits of cloud-based systems, the market is expected to rise over the forecast period.
North America is expected to dominate the radiology information systems market:
North America dominates the market with the highest market share due to the region’s well-established healthcare facilities and infrastructure and high reimbursement policies, which are expected to support the region’s growth. Furthermore, due to the early adoption of advanced technologies in the region and the increased prevalence of diseases, Europe is expected to be the second largest region during the forecast period.
On the other hand, the Asia Pacific is expected to be the fastest growing region over the forecast period owing to increased demand for healthcare facilities and infrastructure. In addition, increased public awareness of various diseases, increase in government funding, and increase in disposable income are expected to drive the growth of the radiology information systems market over the forecast period.
The global radiology information systems market is highly consolidated, oligopolistic and competitive. Additionally, significant investment in R&D initiatives is required as the market is capital intensive.
Cerner Corporation, Mckesson Corporation, Varian Medical Systems Inc., Fujifilm Holdings Corporation, Hologic, Inc., General Electric, and Koninklijke Philips NV control the global radiology information systems market.
Moreover, these industry players are focused on expanding their product portfolios through growth strategies such as acquisitions, mergers, and collaborations.
Main topics covered:
2. Research and methodology
3. Executive Summary
4. Market dynamics
4.1 Drivers of growth
5. Global Radiology Information Systems Market
6. Market Share – Global Radiology Information System Market
6.1 By type
6.2 By component
6.3 By deployment mode
6.4 By regions
7. Type – Global Radiology Information System Market
7.1 Integrated radiological information system
7.2 Autonomous radiological information system
8. Component – Global Radiology Information System Market
9. Mode of Deployment – Global Radiology Information System Market
10. Region – Global Radiology Information System Market
10.1 North America
10.3 Asia Pacific
10.4 Middle East & Africa
11. Business Analysis
11.2 Recent Development
11.3 Financial overviews
- Cerner Company
- McKesson Corporation
- Varian Medical Systems Inc.
- Fujifilm Holding Corporation
- Hologic, Inc.
- General Electric
- Koninklijke Philips NV
For more information about this report visit https://www.researchandmarkets.com/r/vtzsj3
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