Radiology Information System (RIS) Market Size, Growth Strategies 2022-28
The global radiology information system market size was valued at USD 921.2 million in 2021 and is poised to grow at a significant CAGR of 7.8% during the forecast period 2022-28. Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on “Radiology Information System (RIS) Market: By Type (Integrated, Standalone), Model (Remotely hosted, On-premise, Cloud-based), Component (Services, Software), End User (Hospitals, Emergency Healthcare Service Providers, Office Based Physicians) and Geography- Global/Region/Country Forecast to 2028.”
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An overview on the Radiology Information System (RIS) Market:
Radiology information system is used for the purpose of managing associated data and medical imagery. It is a networked software system helpful in tracking billing information as well as radiology imaging orders. It is also used in combination with VNA’s and PACS frequently to manage billing, archives and record keeping. Radiology information systems developed by the producers cannot be useful for all the end-users therefore, customized solutions are provided by the RIS producers to the consumers, which are particularly tailored as per the need and budget of the user for assisting in getting well-return on investment. Growing proliferation of mobile solutions, point of care trend, e-services and smart phones worldwide is also impelling the use of RIS and therefore enhancing the radiology information system market growth. GE healthcare acquired Finnmore in 2014 with an idea to improve the well-being and health of patients. Siemens acquired Cerner Corporation in 2015 for the augmenting developments in interoperability of electronic health records with medical device.
There are many factors that contribute towards impelling the market are the growing adoption of advanced technologies, increase in the demand for web-based solutions, healthcare systems and cloud computing and increasing maintenance of specific and accurate data about radiology. On the other hand, high price connected with installments and the lacks of skilled experts to manage the technology hinder the market growth.
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North America dominating the Radiology Information System (RIS) Market:
On the basis of regional analysis, global market is categorized into major regions such as Latin America, North America, Europe, Asia Pacific, Middle East and Africa. North America is leading the market worldwide due to the growing adoption of advanced technologies along with safety and effective management of data in healthcare segment. Europe region even witnesses a considerable position in the global radiology information system market because of the growing healthcare infra-structure as well as advancements of IT segment. Growing healthcare expenditure in the rising economies including China, Brazil and India and effective advancements are driving the market growth further.
The global radiology information system market key players are McKesson Corporation (U.S.), Cerner Corporation (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Merge Healthcare (U.S.) and GE Healthcare (U.K.). Key players in the market aim at following effective strategies including major collaborations and acquisitions to retain their position in the competitive market.
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