Radiology Information System Market worth USD 1,111.1 million by 2023 according to forecasts

A radiology information system (RIS) is a core system used to manage medical images and associated data. The radiology information system has the ability to handle a massive amount of data in the form of images, demographics, clinical information, patient history, billing, and scheduling in one system thereby allowing efficient workflow management and rapid communication among healthcare professionals. The increasing spending on the healthcare IT sector, increasing applications of RIS, the rising prevalence of chronic diseases, and growing elderly population are expected to drive market growth. According to the United States Census Bureau, around 49.2 million adults aged 65 and above were present in the US as of 2016. Moreover, the National Cancer Institute in 2016 reported that an estimated 595,690 people died from cancer and 1,685,210 new cases of the disease were diagnosed in the US. However, the lack of skilled radiology professionals, security concerns, and the high cost of software may hamper the growth of the market.
The global radiology information system market is expected to reach a market value of USD 1,111.1 million by 2023 from USD 640.0 million in 2016 and is expected to register a CAGR of 8.20% during the forecast period from 2018 to 2023. In 2016, the Americas held the highest share of the market at 40.3%, followed by Europe and Asia-Pacific with shares of 34.5% and 17.5%, respectively. The increasing applications of radiology information systems are expected to increase the growth of the market during the forecast period.
The global radiology information system market is segmented into type, component, deployment, end user, and region.
The global radiology information system market, by type, is segmented into an integrated radiology information system and standalone radiology information system.
The global radiology information system market, by component, is segmented into software, services, and hardware.
The global radiology information system market, by deployment, is segmented into cloud-based/web-based and on-premise.

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By end user, the global radiology information system market is segmented into hospitals and clinics, research and academic institutes, and others.
The global radiology information system market is expected to have a value of USD 1,111.1 million by 2023 from USD 692.5 million in 2017 and is expected to register a CAGR of 8.20% during the forecast period from 2018 to 2023.
Key Players
Carestream Health, Epic Systems, eRAD, Cerner Corporation, Bayer AG, Koninklijke Philips N.V., GE Healthcare, Image Information Systems, Ambra Health, Advanced Data Systems Corporation, Perfect Imaging LLC, IBM Watson Health, Allscripts Healthcare Solutions, Medinformatix, Inc, and NextGen Healthcare
Study Objectives
> To provide a detailed analysis of the market structure along with the forecast of various segments and sub-segments of the radiology information system market
> To provide insights into factors affecting the market growth
> To analyze the global radiology information system market based on various tools such as supply chain analysis and Porter’s five force analysis
> To provide historical and forecast revenue of market segments and sub-segments with respect to regions and their respective key countries
> To provide country-level analysis of the market with respect to the current market size and future perspective
> To provide country-level analysis of the market for segments by type, component, deployment, end user, and region
> To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
> To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the radiology information system market
Target Audience
> Diagnostic Centers
> Radiology Information System Manufacturing Companies
Key Findings
> The global radiology information system market is expected to reach USD 1,111.1 million by 2023 at a CAGR of 8.20 % from 2018 to 2023
> On the basis of type, the integrated radiology information system segment is expected to account for the largest market share at a CAGR of 8.59% by 2023
> On the basis of component, the software segment is expected to account for the largest market share at a CAGR of 8.66% by 2023
> On the basis of deployment, the cloud-based/web-based segment is expected to account for the largest market share at a CAGR of 8.64% by 2023
> On the basis of end user, the hospitals and clinics segment is expected to account for the largest market share at a CAGR of 7.85% by 2023
> The Americas is expected to hold the largest share of the global radiology information system market at a CAGR of 8.45% by 2023
> Asia-Pacific is the fastest growing market, which is expected to register a CAGR of 8.66% by 2023
Regional Analysis
> Americas
o North America
US
Canada
o South America
> Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest of Europe
> Asia-Pacific
o Japan
o China
o India
o Australia
o Republic of Korea
o Rest of Asia-Pacific
> Middle East & Africa
o Middle East
o Africa

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Table of Content

1 Report Prologue
2 Executive Summary
3 Market Introduction
3.1 Definition
3.2 Scope of the Study
3.3 List of Assumptions
3.4 Market Structure
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
5 Market Dynamics
5.1 Drivers
5.1.1 Introduction
5.1.2 Increasing spending on the healthcare IT sector
5.1.3 Increasing applications of radiology information systems
5.1.4 Rising prevalence of chronic diseases and increasing geriatric population
5.2 Restraints
5.2.1 Lack of skilled radiology professionals
5.2.2 Security Concerns
5.2.3 High cost of software
5.3 Opportunities
5.3.1 Growth potential in emerging countries.
5.4 Challenge
5.4.1 Technical errors

Continued…

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Ronard

Ronard Completed his Master in Communication, after completing his degree he opted full-time research as his career. Ronard Main Area of Specialization is Market Research, he also contributes to Various Online Blog

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