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Radiology Information System Market to reach a market size of $979.1 Million by 2025

Press release   •   Jan 08, 2020 12:17 IST

According to a new report Global Radiology Information System Market, published by KBV Research, The Global Radiology Information System Market size is expected to reach $979.1 Million by 2025, rising at a market growth of 7.4% CAGR during the forecast period.

In the product segment, the dominant sub-segment in 2018 was integrated RIS. RIS and PACS have a database of their own, specifically if both systems are obtained from different vendors. Integrated RIS, however, includes a RIS-PACS solution with a single work list generated during registration, which improves business platform workflow processes. The Standalone Type market is expected to witness a CAGR of 8.2% during (2019-2025).

The end-use segment was dominated by hospitals and clinics in 2018. The wide-scale installation of RIS has helped to preserve the patient record in hospitals in the form of a database consisting of comprehensive data for scheduling, patient monitoring, image tracking, and recording of results. The Outpatient Department (OPD) Clinics market is experiencing growth rate of 8.6% during (2019-2025).

In 2018, North America dominated the overall regional segment. The growth of the U.S. market can be linked to developments in the RIS, an increase in the number of radiologists, and the adoption of novel software systems by existing providers. The introduction of advanced RIS with integrated PACS has made the medical imaging process systematic and simpler, leading to further regional growth in patient compliance. Furthermore, the Asia-Pacific region is likely to exhibit a significant growth rate of 8.8% over the forecast period. A rise in the numbers of outsourcing services in the Asia Pacific, as well as increasing awareness of the usefulness of workflow management in hospitals, clinics as well as diagnostic laboratories, contribute towards the growth of the RIS market. The Europe market is expected to witness a CAGR of 7% during (2019-2025).

The Web-based market dominated the Global Radiology Information System Market by Mode of Deployment in 2018, growing at a CAGR of 6.9 % during the forecast period. The On-premise market is witnessing a growth rate of 7.7% during (2019-2025).

Structural Insights: https://www.kbvresearch.com/radiology-information-system-market/

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Cerner Corporation, Epic Systems Corporation, Siemens AG (Siemens Healthineers), General Electric (GE) Co. (GE Healthcare), McKesson Corporation, Koninklijke Philips N.V., IBM Corporation (Merge Healthcare), Medinformatix, Inc., eClinicalWorks LLC and AllScripts Healthcare Solutions, Inc.

Recent Strategies Deployed in Radiology Information System Market

» Collaborations, Partnerships and Agreements:

Oct-2019: AllScripts extended its partnership with Northwell Health in which Northwell Health will engage with its Sunrise inpatient platform through December 2027. Sunrise is an integrated electronic health record, which connects all the aspects of care comprising of pharmacy, ambulatory, acute, radiology, and laboratory services.

Sep-2019: Epic Systems announced that CT Hospital will use the EHR platform of Epic Systems, which helps the providers in accessing patients' medical information from surrounding hospitals or clinics that also uses Epic Systems.

Sep-2019: Epic Systems teamed up with Phelps for providing it a platform, which will combine all of the Phelps Health’s care areas together with one, unified electronic health record system. Through this, it will become easier for the Phelps Health providers to access and communicate the information they need for their patients.

Aug-2019: AllScripts extended its partnership with MaineGeneral Health in which MaineGeneral Health increases the engagement and implementation of Sunrise™ Ambulatory Care and the entire Sunrise Perioperative suite of solutions, and suite of FollowMyHealth ® solutions, which will be the cornerstone for the health system’s digital patient engagement strategy. With the portfolio of AllScripts, MaineGeneral has become able to maintain a single patient record and unified workflow.

Jun-2019: AllScripts collaborated with Gloucestershire Hospitals NHS Foundation Trust (GHFT) in order to boost the care coordination, promoting the health data exchange, and streamlining the clinical workflows across the hospitals.

Apr-2019: AllScripts extended its collaboration with Hendrick Health System, a not-for-profit healthcare provider. This collaboration is aimed at creating a single integrated clinical and financial patient record. With this expansion, the organization's portfolio now includes Sunrise™ Financial Manager, including Sunrise™ Ambulatory Care, Sunrise™ Health Information Manager, consumer/patient engagement platform FollowMyHealth, and Sunrise™ Abstracting.

May-2018: Cerner announced its collaboration with SAP for creating new electronic health record platform for the hospitals outside the U.S. This platform would help the clinicians in putting the details of patients in a single record.

May-2018: GE Healthcare teamed up with Agency for Science, Technology and Research (A*STAR) for the development of medical technologies together. These medical technologies will aid the healthcare providers to improve treatment strategies, delivering faster and more accurate diagnosis, and achieving the greater productivity in workflows.

» Acquisition and Mergers:

Aug-2019: Philips took over Carestream Health Inc.’s Healthcare Information Systems (HCIS) business. The acquisition expands the enterprise diagnostic informatics solutions that include imaging data management, productivity enhancement, and advanced visualization and analysis.

Jun-2017: Siemens Healthineers acquired Medicalis, a developer of radiology workflow solutions. The acquisition helps Siemens in gaining the expertise and solutions for providing workflow orchestration and clinical decision support to the health systems. It also helps in improving quality and productivity while keeping the costs lower for the healthcare providers.

» Product launches:

Nov-2018: GE Healthcare launched Edison healthcare artificial intelligence platform, which is designed to connect the data on millions of medical imaging devices. Through this platform, the clinical partners would be able to develop algorithms and the technology partners would be able to bring the data processing advancements to Edison applications and smart devices. This platform has been designed to improve the workflows.

Global Radiology Information System Market Segmentation

By Mode of Deployment

Web-based

On-premise

Cloud-based

By Product

Integrated Type

Standalone Type

By End Use

Hospitals & Clinics

Outpatient Department (OPD) Clinics

Others

By Geography

North America

US

Canada

Mexico

Rest of North America

Europe

Germany

UK

France

Russia

Spain

Italy

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

Singapore

Malaysia

Rest of Asia Pacific

LAMEA

Brazil

Argentina

UAE

Saudi Arabia

South Africa

Nigeria

Rest of LAMEA

Companies Profiled

Cerner Corporation

Epic Systems Corporation

Siemens AG (Siemens Healthineers)

General Electric (GE) Co. (GE Healthcare)

McKesson Corporation

Koninklijke Philips N.V.

IBM Corporation (Merge Healthcare)

Medinformatix, Inc.

eClinicalWorks LLC

AllScripts Healthcare Solutions, Inc.

Radiology Information System Market Related Reports:

North America Market

Europe Market

Asia Pacific Market

LAMEA Market

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