The radiology information systems (RIS) market is estimated to be valued at about USD 688 million in 2018 and is expected to grow at a CAGR of 7% from 2018 to 2025. The major driving factors of RIS market are the growth in chronic diseases along with rising geriatric population base, growing aging population and age-related disorders, increasing demand for better healthcare facilities, and integrated healthcare systems. The barriers to the growth of the RIS market are privacy and security of data, interoperability concern, and high treatment cost.
The integrated segment of radiology information solutions had the largest market share in 2017 and is expected to witness a significant growth during the forecast period. The integrated system assists in the development of IT service models by analyzing the data through a picture archiving and communication system (PACS). Whereas, healthcare centers majorly focus on the development of the IT service models that fuel the growth of integrated segment in the RIS market.
Apart from the RIS end users, hospital segment has the highest market size, in terms of value, during the forecast period. The RIS technology fulfills all the requirements of the healthcare industries as it can easily track, schedule patient records, and provide data security. Hence, the demand for RIS technology is growing in this sector.
North America dominated the RIS market in 2017, in terms of value, due to the technological advancements and presence of key market players. The two key market players such as GE Healthcare and the American College of Radiology intend to open the largest breast cancer training camp in the Middle East and Saudi Arabia.
The major key players in the global radiology information systems market include Cerner Corporation, McKesson Corporation, Merge Healthcare, Allscripts Healthcare Solutions, GE Healthcare, Philips Healthcare, Epic Systems, and Siemens AG.
This report provides an in-depth analysis of key companies and competitive analysis of developments recorded in the industry in the last eight years. In this report, market dynamics such as driver, barriers, opportunities, challenges, and factor analysis have been discussed in detail. Key market players such as Cerner Corporation, McKesson Corporation, Merge Healthcare, and GE Healthcare have been profiled to provide an insight into the competitive scenario of the global radiology information systems market.
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