The radiology information systems global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Radiology Information Systems Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size – 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 growth in the historic period can be attributed to regulatory changes, demographic trends, cost pressures, consolidation in healthcare, 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 growth in the forecast period can be attributed to population health management, telemedicine expansion, artificial intelligence integration, patient-centric care models, data analytics and business intelligence. Major trends in the forecast period include 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 growth of teleradiology and remote reporting services.
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Scope Of Radiology Information Systems Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Radiology Information Systems Market Overview
Market Drivers -The rising incidence of chronic diseases is expected to propel the growth of the radiology information systems market going forward. Chronic diseases, also known as non-communicable diseases (NCDs), are long-term health conditions that typically develop gradually and persist over an extended period. Chronic diseases arise because of the aging population, sedentary lifestyles, poor diet, physical inactivity, and environmental factors. Radiology information systems are used for the diagnosis, management, and monitoring of chronic diseases by facilitating the efficient storage, retrieval, and interpretation of medical imaging data. For instance, in January 2023, according to the National Library of Medicine, a US-based government medical agency, there will be 142.66 million people with chronic diseases worldwide by the year 2050, up from 71.522 million in 2020. Furthermore, in September 2022, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases, that happen every year globally. Therefore, the rising incidence of chronic diseases is driving the growth of the radiology information systems market.
Market Trends – Major companies operating in the radiology information systems market are expanding innovative features in their healthcare application suites, such as study-oriented workflow capabilities, for radiology departments and imaging centers to help increase asset use and revenue. A study-oriented workflow capability refers to the system’s ability to manage and streamline the workflow related to radiology studies and imaging procedures within a healthcare facility. For instance, in March 2021, Glassbeam Inc., a US-based software company, launched Clinsights 2.0, 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 new release aims to improve productivity, patient care experiences, and value-based care delivery by providing expanded features such as executive dashboards, industry benchmarking, what-if analysis, referral analysis, and reject analysis. This solution leverages a cloud-based platform to collect and analyze operational data from imaging fleets, enabling organizations to optimize asset uptime and utilization. The main features integrated into Clinsights 2.0 include study-oriented workflow capability, online quality control, full leg or full spine software, and toolkit software to link the ADC ID station with the RIS (Radiology Information System) or HIS (Hospital Information System). These features provide actionable insights, optimize patient workflow, improve asset utilization, and drive higher revenues in the healthcare industry.
The radiology information systems market covered in this report is segmented –
1) By Product: Integrated Radiology Information System, Standalone Radiology Information System
2) 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
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Regional Insights – 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.
Key Companies – 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.
Table of Contents
1. Executive Summary
2. Radiology Information Systems Market Report Structure
3. Radiology Information Systems Market Trends And Strategies
4. Radiology Information Systems Market – Macro Economic Scenario
5. Radiology Information Systems Market Size And Growth
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27. Radiology Information Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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