The latest report from Growth Plus Reports analyzes the manufacturing strategies, potential applications, demand, major manufacturers, and SWOT analysis of the global radiology information systems market.
The radiology information systems market report assists in determining the best distribution methods for certain products and potential markets for new products. You can get insights into valuable data, important statistics, trends, and the competitive landscape in this market through comprehensive TOC, Tables, and Charts presented throughout the report.
Key Takeaways:
- The growth in the use of healthcare technology will drive market revenue growth.
- The rising patient care expectations will drive demand for radiology information systems.
- North America dominates the global radiology information systems market.
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Market Drivers
The increased use of healthcare technology, rising patient care expectations, and growth in the number of radiological procedures will drive the revenue growth of the radiology information systems market. Furthermore, the growing use of AI and ML in radiology, the growing demand for cloud-based radiology information systems solutions, and the integration of radiology information systems with other healthcare software platforms such as electronic health records, picture archiving and communication systems, and healthcare information systems are expected to boost the market revenue growth rate. Additionally, increased investment in research and development to improve radiology information systems, rising chronic disease prevalence, an aging population, and a greater emphasis on preventive healthcare are expected to support the market’s revenue growth.
Market Segmentation
Growth Plus Reports has analyzed the global radiology information systems market from four perspectives: Deployment Mode, Product, Component, and Region.
Deployment Mode Segmentation: Based on the deployment mode, the global radiology information systems market is segmented into on-premises and cloud-based. The cloud-based segment dominates the market with the largest revenue share because it is often less expensive than traditional on-premises systems and enables healthcare providers to access from anywhere, allowing for more flexible work schedules.
Product Segmentation: Based on the product, the global radiology information systems market is segmented into integrated RIS and standalone RIS. The integrated RIS segment dominates the market because it provides a comprehensive solution that unifies several operations, such as patient scheduling, picture tracking, report preparation, and billing. This helps reduce mistakes and save time by eliminating the need for multiple software systems.
Component Segmentation: Based on the component, the global radiology information systems market is segmented into hardware, software, and services. The software segment dominates the market because it provides important features for maintaining and tracking patient data, images, and reports and security features to protect patient data.
Regional Growth Dynamics
Based on the region, the global radiology information systems market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominates the global radiology information systems market with the largest revenue share. The increased demand for healthcare services, increasing geriatric population, an increase in the adoption of radiology information systems to manage and maintain patient data effectively, government initiatives to enhance healthcare infrastructure and services, growing incorporation of advanced technology in radiology information systems, and increasing focusing on providing patient-centered care are responsible for North America’s significant revenue share in the global market.
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Competitive Landscape
The major players operating in the global radiology information systems market are:
- GE HealthCare
- IBM (Merge Healthcare Incorporated)
- Koninklijke Philips N.V.
- Siemens Healthineers AG
- Allscripts Healthcare Solutions Inc. (Veradigm LLC)
- Oracle
- McKesson Corporation
- Epic Systems Corporation
- MedInformatix, Inc.
- eRAD
With several international players, the radiology information systems devices market is moderately competitive. Key market players focus on technological advancements, research and development activities, and mergers and acquisitions to strengthen their market presence.
Recent developments:
- Sectra signed a ten-year contract extension with the Dutch medical center Zuyderland in March 2023. Sectra will provide its enterprise imaging solution, Sectra One Cloud, as a cloud service under the new contract.
- Ferrum Health and Riverain Technologies announced a strategic partnership in March 2023 to accelerate provider adoption and lower the costs of implementing life-saving clinical AI tools.
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