Radiology Information Systems Global Market Report 2024

The radiology information systems market size has grown strongly in recent years. It will grow from $0.85 billion in 2023 to $0.93 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The historical growth can be attributed to regulatory changes, demographic trends, cost pressures, healthcare consolidation, and quality improvement initiatives.

The radiology information systems market size is expected to see rapid growth in the next few years. It will grow to $1.37 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The anticipated growth in the forecast period can be attributed to population health management, the expansion of telemedicine, integration of artificial intelligence, patient-centric care models, and the utilization of data analytics and business intelligence. Key trends expected in the forecast period include the increasing adoption of cloud-based solutions, integration of blockchain technology for data security and interoperability, expansion of imaging modalities beyond traditional radiology, emphasis on interoperability and data exchange standards, and the growth of teleradiology and remote reporting services.

The increasing prevalence of chronic diseases is expected to drive the growth of the radiology information systems market in the coming years. Chronic diseases, also known as non-communicable diseases (NCDs), are long-term health conditions that develop gradually and persist over an extended period, often due to factors such as aging populations, sedentary lifestyles, poor diet, physical inactivity, and environmental influences. Radiology information systems play a crucial role in diagnosing, managing, and monitoring chronic diseases by facilitating efficient storage, retrieval, and interpretation of medical imaging data. For example, the National Library of Medicine projected that by 2050, there will be 142.66 million people worldwide with chronic diseases, up from 71.522 million in 2020. Additionally, the World Health Organization reported in September 2022 that 74% of the 41 million deaths globally each year are caused by non-communicable diseases or chronic diseases. Consequently, the rising incidence of chronic diseases is fueling the expansion of the radiology information systems market.

Key players in the radiology information systems market are enhancing their healthcare application suites with innovative features, such as study-oriented workflow capabilities, to benefit radiology departments and imaging centers. Study-oriented workflow capabilities refer to the system's ability to manage and streamline workflow related to radiology studies and imaging procedures within healthcare facilities. For instance, Glassbeam Inc. launched Clinsights 2 in March 2021, an advanced healthcare analytics software suite designed to optimize radiology department operations and enhance value-based care delivery through comprehensive data analysis and actionable insights. This solution leverages a cloud-based platform to collect and analyze operational data from imaging fleets, improving productivity, patient care experiences, and value-based care delivery.

In November 2023, InsiteOne, a cloud-based clinical image management company, acquired Brit Systems to strengthen its position in the healthcare imaging IT market, offering a wider range of cloud-based solutions and enhancing the overall value proposition for healthcare providers. Brit Systems provides radiology information systems to manage scheduling, order tracking, results reporting, and other aspects of the radiology workflow.

Major companies operating in the radiology information systems market are McKesson Corporation, General Electric Company, Oracle Corporation, Siemens Healthineers AG, FUJIFILM Holdings Corporation, Koninklijke Philips N.V., Cerner Corporation, Hologic Inc., Shimadzu Corporation, Epic Systems Corporation, Agfa-Gevaert Group, Veradigm LLC, Carestream Health, Allscripts Healthcare LLC, Esaote S.p.A., Sectra AB, Canon Medical Systems Corporation, Pro Medicus Limited, EIZO Corporation, eRAD, Fischer Medical, MedInformatix Inc.

North America was the largest region in the radiology information systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the radiology information systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the radiology information systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A radiology information system is a specialized software system designed for managing medical imagery and related data within radiology departments and diagnostic imaging centers. It automates and streamlines various daily operations including administrative tasks, clinical workflows, operational processes, patient registration, scheduling, order tracking, billing, reporting, and more.

The primary types of products in radiology information systems include integrated radiology information systems and standalone radiology information systems. An integrated radiology information system (RIS) is a comprehensive software solution used in healthcare settings, especially in radiology departments and imaging centers, to handle various aspects of radiology operations and patient information. It offers different deployment options such as web-based, cloud-based, and on-premise to suit various end-users including hospitals, clinics, outpatient departments, office-based physicians, emergency healthcare providers, and research and academic institutes.

The radiology information systems market research report is one of a series of new reports that provides radiology information systems market statistics, including radiology information systems industry global market size, regional shares, competitors with a radiology information systems market share, detailed radiology information systems market segments, market trends and opportunities, and any further data you may need to thrive in the radiology information systems industry. This radiology information systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The radiology information systems market consists of revenues earned by entities by providing services such as patient management, appointment scheduling, workflow management, image management, archiving, and report generation. The market value includes the value of related goods sold by the service provider or included within the service offering. The radiology information systems market also includes sales of radiology workstations, servers, networking equipment, scanners, printers, and an order entry module. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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