Radiology Information System Market Demand 2022-2028: Increasing Mergers Between Healthcare Facilities And Group Purchasing By Private Hospitals Across The Globe

Published: Jun 17, 2022

The global radiology information system (RIS) market size was significantly large in 2020, and is expected to continue to register a rapidly inclining revenue CAGR between 2021 and 2028. Key factors responsible for driving market revenue growth are increasing prevalence of age-related illnesses, technological breakthroughs, and improved healthcare IT services.

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A Radiology Information System (RIS) is a networked software package used to manage medical imaging and data. The system is useful for handling radiological records and related data across different sites. It is also used to manage billing and workflow in conjunction with a Picture Archiving and Communication System (PACS). RIS has expanded its importance in recent years and has now become full-fledged components of the whole healthcare industry as an element of hospital information systems.

Market Overview:

The global Radiology Information System market has significantly grown over the recent past and is expected to register rapid growth over the forecast period of 2021 to 2028. The pharma and healthcare sector is rapidly evolving with innovations in technology, increasing healthcare spending, and improving healthcare facilities and systems. Many hospitals, ambulatory surgical care centers, and clinics across the globe are adopting advanced devices and equipment. Revenue growth of the global Radiology Information System market is significantly driven by factors such as the increasing prevalence of chronic diseases, rapid advancements in the healthcare and medical sector, high adoption of the latest tools and techniques, and growing funds by several public and private sectors. In addition, the rising focus on drug development, increasing demand for precision medicine, high adoption of home care settings and point-of-care diagnostics, and increasing investments in research and development activities are expected to drive global market revenue growth during the forecast period.

The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as a shortage of medicines, vaccines, and healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.

Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.

Top Companies Profiled in the Report:

Carestream Health Inc.
Philips Healthcare
McKesson Corp.
GE Healthcare
Siemens Healthcare
Canon Medical Systems ANZ
Epic Systems Corporation
MedInformatix, Inc.
Cerner Corporation
Merge Healthcare Incorporated
Hologic Inc.
Allscripts Healthcare Solutions, Inc.

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Radiology Information System Market Segmentation:

By Type (Revenue, USD Billion; 2018-2028)

Integrated Radiology Information Systems
Standalone Radiology Information Systems

By Component (Revenue, USD Billion; 2018-2028)

Services
Software
Hardware
Custom Application Development

Regional Outlook:

North America (U.S., Canada, Mexico)
Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
Latin America (Brazil, Rest of LATAM)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)

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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.

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. Key factors responsible for driving market revenue growth are increasing prevalence of age-related illnesses, technological breakthroughs, and improved healthcare IT services.