Global Radiology System (RIS) Market to Expand with Continual Improvements in Healthcare Industry

San Francisco, California, Nov 05th, 2018: The demand within the global market for radiology information system (RIS) has been rising on account of the need to diagnose internal fractures, injuries, and obscure diseases in humans and animals. Radiology information systems use advanced radio-wave technologies and digital aids to get images and other data about a specific body part or organ. A report added by TMR Research titled “Radiology Information Systems (RIS) Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025” creates a framework to understand the core dynamics of this market.

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When radiology information systems are used in conjunction with picture archiving and communication system (PACS) or hospital information systems (HIS), several diseases and disorders can be diagnosed and treated with much greater efficiency. Owing to this factor, the healthcare industry has integrated these three systems, and this integration has underhandedly propelled demand within the global market for radiology information systems (RIS). Some of the key features of radiology information system (RIS) include interpretation of examinations, getting radiology results, scheduling of patients, and billing. With such a wide application portfolio, the demand within the global market for radiology information system (RIS) is projected to keep rising in the years to come.

On the basis of geography, the market for radiology information system in North America has been expanding on account of the ability of the healthcare sector in the US and Canada to afford state of the art medical infrastructure.

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Some of the key players in the global market for radiology information system (RIS) are FUJIFILM, MERGE Healthcare, and Carestream Health.

Radiology Information Systems (RIS) Market : Significant Profits Estimated to be Generated by 2025

Global Radiology Information Systems Market: Snapshot

A radiology information system (RIS) refers to a networked software system for managing medical images and related data. Some of the major functions of RIS include patient scheduling, tracking radiology orders, examination interpretation, billing information, and results distribution. RIS is used in conjunction with hospital information systems (HIS) and picture archiving and communication system (PACS) to manage image archives and for efficient workflow of radiology practices.

A radiology information system has several advantages over antiquated paper-based record keeping for disease diagnosis and treatment. It helps staff work more accurately resulting in fewer medical errors and deliver accuracy in transcription while at the same time help professionals present a more salient diagnosis. An RIS is useful for managing image files and large data that are typically generated in a radiology practice.

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It helps integrate multiple functions into a single comprehensive system, thereby eliminating likelihood of redundant actions and boosting staff’s efficiency at the same time. From registration to scheduling to billing to reporting results, RIS streamlines operations so that staff can better help patients.

The many advantages of RIS help increase revenue due to fewer missed appointments and decreased turnaround time for reports. Moreover, several governments around the world offer incentives for physicians that use certified RIS software for generating reports. Radiology Information Systems are also important for transmitting information across service boundaries such as from the imaging unit to the patient’s primary healthcare provider.

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As RIS is a mature market over other areas of healthcare that are heading towards digitization, radiology has a high scope of innovative digitized systems.

Global Radiology Information Systems Market: Overview

Radiology information system (RIS) is an advanced software tool developed to manage radiological data generated in hospitals around the world. The software majorly caters to digital data collection, thereby assisting the overall healthcare information systems. The report provides a comprehensive overview of the global radiological information systems market covering the growth drivers, major restraints, segmentation based on various parameters, and the impact of the latest technological advancements. It also covers outcomes of various analyses, intended to help the readers gain a better perspective of the global radiology information systems market. 

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Global Radiology Information Systems Market: Trends and Opportunities

The increasing costs and demand for more effective healthcare services have compelled hospitals to integrate advanced technologies for managing work force better and simultaneously delivering quicker and better patient care. Spurred by these factors, the uptake of radio information systems has significantly increased across hospitals and radiology departments. Besides this, enterprises operating in the global radiology information systems market are also gaining from the increasing incidence of chronic ailments such as diabetes, cancer, cardiovascular diseases and others. In addition, the rising aging population will prove a boon as geriatric population is more prone to developing terminal illnesses.

As per the findings of the American Society of Radiologic Technologists, nearly 400 million medical imaging procedure are conducted annually in the U.S. A comprehensive and integrated system is thus required to manage such staggering volume of patient-related data generated yearly. Moreover, with the decentralization of hospital processes, incomplete data storage has emerged as a major concern. In order to address these concerns, the deployment of radiology information systems is expected to rise significantly.

Global Radiology Information Systems Market: Regional Outlook

Regionally, North America holds position as the most lucrative market for radiology information systems. Europe comes second to it in terms of exhibiting opportunities for radiology information systems sales. Besides this, Asia Pacific has been exhibiting attractive prospects as a result of the rising demand from countries such as China, Korea, Japan, and Malaysia. Due to the excessively high cost of medical services in the U.S., hospitals are losing businesses to their counterparts in Asia Pacific, with Malaysia, Singapore, China, India, and other countries emerging as popular destinations for medical tourism.

Moreover, the prevalence of cancer across emerging nations is considerably high. According to the WHO, over 60% of new cancer cases are reported from Asia, South America, and Africa. Furthermore, these regions also show a high incidence of cardiovascular disease mortalities among the low and middle-income countries, which is a chief driver of the demand for radiology information systems. 

Global Radiology Information Systems Market: Vendor Landscape

To study the prevailing vendor landscape, the report also profiles a few of the most prominent enterprises operating in the global radiology information system market. Using SWOT analysis, the report determines the strengths and weaknesses of the companies profiled. The analysis also helps the companies identify the opportunities and threats that they might witness over the course of the forecast period.

Some of the leading enterprises operating in the global radiology information systems market are CoActiv Medical, AGFA Healthcare, FUJIFILM, Carestream Health, MERGE Healthcare, Cyglera Health Systems, Comrad, Novarad Corporation, Siemens Healthcare, and Infinitt Healthcare Co., Ltd.

Radiology Information Systems a Necessity for Geriatric-Care

San Francisco, California, July 10, 2017 : The rise in the geriatric population, who frequently suffer from numerous medical complications, and recent technological advancements are two of the key factors driving the global radiology information systems market, according to a report by TMR Research. The report, titled “Radiology Information Systems (RIS) Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” represent the currently scenario and provides in-depth assessment of all factors that may drive or restrain the demand for RIS in the near future. It segments the market into smaller aspects as well as regions, and gauges the potential of each of those segments. A number of leading companies operating in the global radiology information systems market have also been profiled in the report in order to highlight the competitive landscape and the opportunities for new entrants.

Radiology information systems relates to the management of business functions of diverse departments, from inventory control to patient treatment, and provide benefits such as reliability, high security, and privacy. Factors such as growing incidences chronic diseases, improving healthcare information technology systems, adoption of cloud technology, incremented government funding for cancer-related research, and escalating demand for efficient and affordable healthcare services are some of the other prominent drivers that are expected to lead to the prosperity of the radiology information systems market. On the other hand, increasing concerns regarding the patient data security, the lack of experience professionals in radiology, and high treatment cost are some of the hindrances faced by the market.

Based on product type, the global radiology information systems market can be segmented into standalone RIS and integrated RIS. On the basis of deployment mode, the market can be classified into web-based, on-premise, and cloud-based. Component-wise, the market can be bifurcated into services, software, and hardware. End-users of the RIS market can be hospitals, emergency healthcare centers, and office-based physicians. Geographically, the report analyzes the prospects of radiology information systems market in all important regions such as Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Owing to factors such as lower cost, higher productivity, and the robustness of healthcare IT systems, North America serves the maximum demand in the global RIS market and is expected to remain most profitable region throughout the forecast period, until 2025.

Some of the key companies operating in the global radiology information systems market are McKesson Corporation, GE Healthcare, Epic Systems, Cerner Corporation, Siemens AG, Philips Healthcare, Allscripts Healthcare Solutions, Inc., MedInformatix, Inc., and Merge Healthcare, Inc. The development of new technology-based services and mergers and acquisitions are two primary strategies for these key players to maintain their stronghold over the market for radiology information systems.