Radiology Information Systems (RIS) Market Size to Reach US$ 1,693.50 million by 2027 | Projection By Technology, Major key players, Growth, Revenue, CAGR, Regional Analysis, Industry Forecast

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The radiology information systems (RIS) market is expected to reach US$ 1,693.50 million by 2027 from US$ 904.60 million in 2019; the market is estimated to grow at a CAGR of 8.3% during 2020–2027.

A radiology information system is a computer-based system that is aimed to support effective workflow and business analysis in radiology departments worldwide. The radiology information software manages data of hospital's radiology departments and clinics in an electronic form. Data could be in any form such as billing, scheduling and medical imaging. It is significant to keep a track of the data and store it for future references. The implementation of radiology information systems facilitates increased work efficiency, better patient coordination, reduction in medical errors with improved diagnosis, and streamlined administrative functions. The importance of radiology information system has increased immensely as they eliminate manual errors, and the systems have now become a crucial component of the overall healthcare sector.

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Here we have listed the top Radiology Information System (RIS) Market companies

The radiology information systems (RIS) market mainly consists of players such as Koninklijke Philips N.V., Siemens Healthineers AG, Bayer AG, Cerner Corporation, General Electric Company, McKESSON CORPORATION, IBM Corporation, Epic Systems Corporation, Fujifilm Corporation, and MedInformatics, Inc. The companies are focused on the adoption of organic and inorganic strategies such as partnerships, agreements, and expansions to sustain their position in the dynamic market. In February 2017, Philips introduced IntelliSpace Enterprise Edition. The solution offers a complete suite of interoperable healthcare informatics applications and services for hospitals and integrated health networks.

Demographic and societal shifts, such as urbanization and aging populations, are intensifying resource pressures. This compels healthcare organizations to focus on preventive measures. Moreover, the increasing role of radiology systems in pandemics is further increasing its adoption. Increasing investments in healthcare IT start-ups in Asia pacific is offering lucrative opportunities for the growth of the market. For instance, in April 2019, Tencent Trusted Doctor (China), a venture backed by tech giant Tencent Holdings, raised US$ 250 million in a fundraising round. Another Indonesian healthtech platform, Alodokter raised a US$ 33 million in Series C funding in October. The growing healthcare IT industry in Asia Pacific is one of the most lucrative opportunities for the radiology information systems players to expand their capabilities in the region.

Highlights the following key factors:

1) Business description-A detailed description of the company’s operations and business divisions.

2) Corporate strategy – Analyst’s summarization of the company’s business strategy.

3) SWOT Analysis-A detailed analysis of the company’s strengths, weakness, opportunities, and threats.

4) Company history – Progression of key events associated with the company.

5) Major products and services-A list of major products, services, and brands of the company.

6) Key competitors – A list of key competitors to the company.

7) Important locations and subsidiaries – A list and contact details of key locations and subsidiaries of the company.

8) Detailed financial ratios for the past five years – The latest financial ratios derived from the annual financial statements published by the company with 7 years history.

Due to the pandemic, we have included a special section on the Impact of COVID 19 on the Radiology Information System (RIS) Market which would mention How the Covid-19 is Affecting the Radiology Information System (RIS) Market Industry, Market Trends and Potential Opportunities in the COVID-19 Landscape, Covid-19 Impact on Key Regions and Proposal for Radiology Information System (RIS) Market Players to fight Covid-19 Impact.

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Segmentation

The RIS market, by deployment, is segmented into web-based RIS, cloud-based RIS, and on-premises RIS. In 2019, the web-based RIS segment accounted for the largest share of the global radiology information systems (RIS) market. However, the cloud-based RIS is likely to register the highest CAGR in the market during forecast years. The cloud-based delivery mode offers a standardized way to help commercial and academic institutions to manage their data generated from different laboratory functions, such as sample testing, instrument usage, automation, and report generation. Cloud-based delivery mode system is an extremely manageable alternative that helps in the assessment of real-time information regarding patients, employees, and devices in a healthcare facility’s premises. It covers every step of the patient journey from appointment scheduling to sending out reminders, thereby acting as an advanced tool for business reporting.

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Radiology Information System (RIS) Market based on product and application. It also provides market size and forecast till 2027 for overall Radiology Information System (RIS) Market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM), which is later sub-segmented by respective countries and segments. The report evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend and provides exhaustive PEST analysis for all five regions.

TABLE OF CONTENTS

1. Introduction

1.1 Scope of the Study

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 Global Radiology Information Systems (RIS) Market – By Product

1.3.2 Global Radiology Information Systems (RIS) Market – By Deployment

1.3.3 Global Radiology Information Systems (RIS) Market – By Component

1.3.4 Global Radiology Information Systems (RIS) Market – By End User

1.3.5 Global Radiology Information Systems (RIS) Market – By Geography

2. Radiology Information Systems (RIS) Market – Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Radiology Information Systems (RIS) – Market Landscape

4.1 Overview

4.2 PEST Analysis

4.2.1 North America– PEST Analysis

4.2.2 Europe– PEST Analysis

4.2.3 Asia Pacific– PEST Analysis

4.2.4 Middle East & Africa– PEST Analysis

4.2.5 South and Central America– PEST Analysis

4.3 Expert Opinion

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