Radiology Information Systems (RIS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Global Radiology Information Systems Market: Snapshot
A radiology information system (RIS) refers to a networked software system for managing medical images and related data. Some of the major functions of RIS include patient scheduling, tracking radiology orders, examination interpretation, billing information, and results distribution. RIS is used in conjunction with hospital information systems (HIS) and picture archiving and communication system (PACS) to manage image archives and for efficient workflow of radiology practices.
A radiology information system has several advantages over antiquated paper-based record keeping for disease diagnosis and treatment. It helps staff work more accurately resulting in fewer medical errors and deliver accuracy in transcription while at the same time help professionals present a more salient diagnosis. An RIS is useful for managing image files and large data that are typically generated in a radiology practice.
It helps integrate multiple functions into a single comprehensive system, thereby eliminating likelihood of redundant actions and boosting staff’s efficiency at the same time. From registration to scheduling to billing to reporting results, RIS streamlines operations so that staff can better help patients.
The many advantages of RIS help increase revenue due to fewer missed appointments and decreased turnaround time for reports. Moreover, several governments around the world offer incentives for physicians that use certified RIS software for generating reports. Radiology Information Systems are also important for transmitting information across service boundaries such as from the imaging unit to the patient’s primary healthcare provider.
As RIS is a mature market over other areas of healthcare that are heading towards digitization, radiology has a high scope of innovative digitized systems.
Global Radiology Information Systems Market: Overview
Radiology information system (RIS) is an advanced software tool developed to manage radiological data generated in hospitals around the world. The software majorly caters to digital data collection, thereby assisting the overall healthcare information systems. The report provides a comprehensive overview of the global radiological information systems market covering the growth drivers, major restraints, segmentation based on various parameters, and the impact of the latest technological advancements. It also covers outcomes of various analyses, intended to help the readers gain a better perspective of the global radiology information systems market.
Global Radiology Information Systems Market: Trends and Opportunities
The increasing costs and demand for more effective healthcare services have compelled hospitals to integrate advanced technologies for managing work force better and simultaneously delivering quicker and better patient care. Spurred by these factors, the uptake of radio information systems has significantly increased across hospitals and radiology departments. Besides this, enterprises operating in the global radiology information systems market are also gaining from the increasing incidence of chronic ailments such as diabetes, cancer, cardiovascular diseases and others. In addition, the rising aging population will prove a boon as geriatric population is more prone to developing terminal illnesses.
As per the findings of the American Society of Radiologic Technologists, nearly 400 million medical imaging procedure are conducted annually in the U.S. A comprehensive and integrated system is thus required to manage such staggering volume of patient-related data generated yearly. Moreover, with the decentralization of hospital processes, incomplete data storage has emerged as a major concern. In order to address these concerns, the deployment of radiology information systems is expected to rise significantly.
Global Radiology Information Systems Market: Regional Outlook
Regionally, North America holds position as the most lucrative market for radiology information systems. Europe comes second to it in terms of exhibiting opportunities for radiology information systems sales. Besides this, Asia Pacific has been exhibiting attractive prospects as a result of the rising demand from countries such as China, Korea, Japan, and Malaysia. Due to the excessively high cost of medical services in the U.S., hospitals are losing businesses to their counterparts in Asia Pacific, with Malaysia, Singapore, China, India, and other countries emerging as popular destinations for medical tourism.
Moreover, the prevalence of cancer across emerging nations is considerably high. According to the WHO, over 60% of new cancer cases are reported from Asia, South America, and Africa. Furthermore, these regions also show a high incidence of cardiovascular disease mortalities among the low and middle-income countries, which is a chief driver of the demand for radiology information systems.
Global Radiology Information Systems Market: Vendor Landscape
To study the prevailing vendor landscape, the report also profiles a few of the most prominent enterprises operating in the global radiology information system market. Using SWOT analysis, the report determines the strengths and weaknesses of the companies profiled. The analysis also helps the companies identify the opportunities and threats that they might witness over the course of the forecast period.
Some of the leading enterprises operating in the global radiology information systems market are CoActiv Medical, AGFA Healthcare, FUJIFILM, Carestream Health, MERGE Healthcare, Cyglera Health Systems, Comrad, Novarad Corporation, Siemens Healthcare, and Infinitt Healthcare Co., Ltd.
The study presents reliable qualitative and quantitative insights into:
The regional analysis covers:
The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.
Highlights of the report:
Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.
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