Radiology Information Systems Market by Product and Geography - Forecast and Analysis 2020-2024

The radiology information systems (RIS) market size has the potential to grow by USD 114.97 million during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period.

This radiology information systems market research report analyzes the market’s competitive landscape and offers information on several market vendors including Agfa-Gevaert NV, Allscripts Healthcare Solutions Inc., Cerner Corp., Epic Systems Corp., FUJIFILM Holdings Corp., General Electric Co., INFINITT Healthcare Co. Ltd., International Business Machines Corp., Koninklijke Philips NV, and Siemens Healthineers AG. Also, the report provides a detailed analysis of the market by product (integrated RIS and standalone RIS) and geography (Asia, Europe, North America, and ROW).

Statistical Analysis of Radiology Information Systems Market

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Market Competitive Analysis

The radiology information systems market is concentrated, and the degree of concentration will remain the same during the forecast period. Market vendors are increasingly focusing on R&D activities to develop radiology information systems with advanced features. Agfa-Gevaert NV, Allscripts Healthcare Solutions Inc., and Cerner Corp. are some of the major market participants.

The accelerating growth momentum will offer immense business opportunities to market vendors. However, factors such as the high cost of healthcare technology solutions will challenge the growth of the market participants. To boost the radiology information systems market demand, vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this radiology information systems market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this report includes information on the upcoming radiology information systems market trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This radiology information systems market analysis report provides information on the production, sustainability, and prospects of several leading companies, including:

• Agfa-Gevaert NV
• Allscripts Healthcare Solutions, Inc.
• Cerner Corp.
• Epic Systems Corp.
• FUJIFILM Holdings Corp.
• General Electric Co.
• INFINITT Healthcare Co. Ltd.
• International Business Machines Corp.
• Koninklijke Philips NV
• Siemens Healthineers AG

Radiology Information Systems Market: Segmentation by Region

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Asia will offer maximum growth opportunities to market vendors during the forecast period. Factors such as the increasing awareness of technologically advanced workflow management solutions, the growing demand for medical imaging examinations, and the rising adoption of imaging equipment are contributing to the radiology information systems market growth in this region.

Almost 38% of the market’s growth will originate from Asia during the forecast period. China is a key market for radiology information systems in Asia. Market growth in this region will be faster than the growth of the market in other geographies.

Radiology Information Systems Market: Segmentation by Product

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RIS is generally integrated with advanced technologies such as PACS, EHR, and HIS. The demand for integrated RIS is increasing among end-users as they help in reducing costs, measuring overall productivity levels, and streamlining communication with all stakeholders.

Market growth in the integrated RIS segment will be faster than the growth of the market in the standalone RIS segment. This report provides an accurate prediction of the contribution of all the radiology information systems market segmentation.

Radiology Information Systems Market: Key Drivers and Trends

The increasing prevalence of diseases and related risk factors will be a significant factor driving the radiology information system market growth. The prevalence of chronic diseases such as cardiovascular diseases (CVD), cancer, neurological diseases, and orthopedic diseases is increasing across the world. The rising prevalence of chronic diseases can be attributed to the increasing rate of risk factors such as diabetes, hypertension, smoking, and obesity. The risk of chronic diseases also increases with age. With the growing aging population, the incidences of chronic diseases will also increase rapidly. Since medical imaging tests such as CT and MRI are widely used for the diagnosis and management of chronic diseases, their rising prevalence will fuel the demand for medical imaging tests and consequently boost the popularity of workflow management technologies, such as RIS.

• The rising adoption of MRI, CT, and X-ray systems, the increasing practice of defensive medicine, and technological advances such as 3D imaging and full-body PET/MRI scans have resulted in the generation of huge amounts of medical image data.
• Various government regulations such as the HIPAA act mandate the storage of patient data even after a patient’s discharge.
• Diagnostic centers and hospitals are increasingly adopting cloud-based technologies as the existing RIS/PACS and data storage technologies are unable to manage the massive amount of medical imaging data effectively.
• The integration of cloud-technology with RIS, which is one of the critical radiology information systems market trends, will provide end-users with a secure platform to store sensitive patient data, improve productivity, and increase cost savings.
• During 2020-2024, the radiology information systems market size will grow at a CAGR of over 1%.

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Key Highlights of the Radiology Information Systems Market Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will accelerate the RIS market growth during the next five years
• Precise estimation of the RIS market size and its contribution to the parent market
• Radiology information systems market facts & figures and accurate predictions on upcoming trends and changes in consumer behavior
• Estimation of potential opportunity for radiology information systems market by product and geographic segments
• Identification of key countries across Asia, Europe, North America, and ROW
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of radiology information systems market vendors  

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