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.
This product will be delivered within 3-5 business days.
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.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Radiology Information Systems Market Characteristics3. Radiology Information Systems Market Trends and Strategies32. Global Radiology Information Systems Market Competitive Benchmarking33. Global Radiology Information Systems Market Competitive Dashboard34. Key Mergers and Acquisitions in the Radiology Information Systems Market
4. Radiology Information Systems Market - Macro Economic Scenario
5. Global Radiology Information Systems Market Size and Growth
6. Radiology Information Systems Market Segmentation
7. Radiology Information Systems Market Regional and Country Analysis
8. Asia-Pacific Radiology Information Systems Market
9. China Radiology Information Systems Market
10. India Radiology Information Systems Market
11. Japan Radiology Information Systems Market
12. Australia Radiology Information Systems Market
13. Indonesia Radiology Information Systems Market
14. South Korea Radiology Information Systems Market
15. Western Europe Radiology Information Systems Market
16. UK Radiology Information Systems Market
17. Germany Radiology Information Systems Market
18. France Radiology Information Systems Market
19. Italy Radiology Information Systems Market
20. Spain Radiology Information Systems Market
21. Eastern Europe Radiology Information Systems Market
22. Russia Radiology Information Systems Market
23. North America Radiology Information Systems Market
24. USA Radiology Information Systems Market
25. Canada Radiology Information Systems Market
26. South America Radiology Information Systems Market
27. Brazil Radiology Information Systems Market
28. Middle East Radiology Information Systems Market
29. Africa Radiology Information Systems Market
30. Radiology Information Systems Market Competitive Landscape and Company Profiles
31. Radiology Information Systems Market Other Major and Innovative Companies
35. Radiology Information Systems Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Radiology Information Systems Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on radiology information systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for radiology information systems ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The radiology information systems market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) by Product: Integrated Radiology Information System; Standalone Radiology Information System2) by Deployment: Web-Based; Cloud-Based; on-Premise
3) by End-User: Hospitals and Clinics; Outpatient Department; Office Based Physicians; Emergency Healthcare Service Providers; Research and Academic Institute
Key Companies Mentioned: McKesson Corporation; General Electric Company; Oracle Corporation; Siemens Healthineers AG; FUJIFILM Holdings Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | July 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 0.93 Billion |
Forecasted Market Value ( USD | $ 1.37 Billion |
Compound Annual Growth Rate | 10.1% |
Regions Covered | Global |