Advanced healthcare information technology system, growing incidences of chronic diseases, rising government funding for the R&D related to cancer diseases are witnessed as key drivers in the growth of radiology information system market. Rapid increase in cyberattacks has been further driving the demand and supply of radiology information system. Lack of specialized healthcare professionals for operating radiology information system as well as growing concerns related to data security and safety is likely to hamper the growth of radiology information system market. Cloud based radiology information system is anticipated to be the fastest growing segment in radiology information system market owing to easy data accessibility and reduced operational cost.
Asia-Pacific is anticipated to be the fastest growing region in radiology information system market owing to growing investments on the healthcare facilities as well as surging need for treatment and diagnosis of chronic diseases. China had made heavy investments in the healthcare system of Australia through several joint ventures and mergers and acquisitions, which in turn positively impacts the growth of radiology information system market of the region. Asia-Pacific is likely to develop as an area holding maximum potential for growth of radiology information system market. This growth is attributed towards increasing focus of the key players in the developing regions and advancing healthcare infrastructure.
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Radiology Information System is a software which manages the data for physicians, hospital’s radiology department and clinics in an electronic form. Data could be in any form like billing, scheduling and medical imaging. Radiology information system is very useful to track radiology imaging orders and to track reports of patients. Patient’s entire radiology history, from admission to discharge could be track. Statistical reports for a patient or for a group of patients can be generated. The radiology information system also allows the staff to make appointments for outpatient and inpatients. Radiology Information system also provides the detailed financial recording, electronic payments and automated claims.
Recently, Singapore based healthcare groups called SingHealth and Eastern Health Alliance (EH alliance) and Singapore Health Ministry’s IT arm, IHis purchased Carestream’s Vue Radiology (Radiology Information System) and Vue PACS (Picture Archiving and Communications System) for better result, access and management of radiology results and patient imaging data. Almost 4 million patients visits every year in SingHealth Group. Carestream’s Vue RIS+PACS are in few other hospitals too in Singapore like Singapore General Hospital, KK Women’s and Children’s Hospital, National Cancer Centre Singapore, National Heart Centre Singapore and SingHealth Polyclinics. By this software, one can access data from any location and create one unified imaging of patient file.
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Radiology Information System Market: Drivers & Restraints
Technological advancement, rising ageing population, consolidation of healthcare providers, innovation, improved efficiency and better results, increasing demand for better healthcare systems, cost-effectiveness, increase usage of cloud computing and web based solutions, increase number of chronic diseases, are the most important driving factors in radiology information system market. Since radiology information system maintains the data for physicians and hospitals to get access form anywhere, the demand for radiology information system has increased.
With so many advantages and splendid features of radiology information system, it has few disadvantages too. Lack of inexperienced professionals and interoperability issues are acting as a barrier for radiology information system market.
Radiology Information System Market: Segmentation
Radiology Information System Market is broadly classified on the basis of the following segments –
- By Deployment: Web based RIS Cloud based RIS On-premise RIS
- By Product: Integrated RIS Standalone RIS
- By End-User: Hospitals Emergency Healthcare Service Providers Office Based Physicians
Radiology Information System Market: Overview
The radiology information system has grown substantially at a healthy CAGR due to increasing need of integrated healthcare system and rise in demand of diagnostic industry. With rapid technological advancement and innovation, radiology information system market is expected to grow globally. North America and Europe region will be dominating radiology information market in the forecast period.
Radiology Information System Market: Region-wise Outlook
The radiology information system market is expected to register a double-digit CAGR for the forecast period. Depending on geographic regions, radiology information system market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. North America has the largest market for radiology information system and is contributing the most as compare to other regions. This is due to the increase demand of diagnostic industry go get better, fast and effective results.
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Radiology Information System Market: Key Players
Some of the key market players in radiology information system market are Cerner Corporation, Siemens Healthcare, Carestream Health, Mckesson Corporation, GE Healthcare, Merge Healthcare, Allscripts and Epic Systems.