The radiology information systems market size is estimated to be USD 853.21 million in 2022 and is expected to witness a CAGR of 10.42% during the forecast period 2023-2033. Rising population, growth in the number of radiology specialists and practises, investment in R&D activities, and demand for cloud-based solutions are factors contributing to the market growth. Furthermore, introduction of new products and growing geriatric population is projected to support the market growth. However, increasing risk of cyberattacks and lack of skilled workforce is expected to hinder the growth.

The introduction of new products is predicted to fuel the market growth during the projected period. For instance, at the Radiological Society of North America’s 2021 Annual Meeting, Sirona Medical Inc. announced the release of a cloud-native radiology operating system (RadOS) (RSNA). Hologic, Inc. made a launch announcement for the Trident HD specimen in Canada in April 2019. The Trident HD system is a cutting-edge radiography solution that offers improved image quality and workflow, and quick sample verification in stereotactic breast biopsies and breast-conserving surgeries.

Growing geriatric population is projected to spur the market growth during the forecast period. The share of the world’s population that is 65 years old or over is anticipated to increase from 10% in 2022 to 16% in 2050, according to the United Nations’ World Population Ageing 2022 highlights. Globally, the number of people 65 and older is predicted to exceed that from people under the age of 5 by 2050. The significant prevalence of a number of complex and chronic diseases among the geriatric population is predicted to increase demand for radiology services and favourably affect the market under research. According to Globocan 2020, there were 9,958,133 cancer-related deaths and 19,292,789 new cancer cases reported globally in 2020.

Segmentation

By Product

The market is categorized into standalone RIS and integrated RIS. In 2022, the integrated RIS segment accounted for the highest revenue share due to the widespread usage of EHR platforms, digital images, and PACS systems. The development of integrated RIS has streamlined operations in radiology departments, allowing staff to concentrate on the current task. The standalone RIS segment is anticipated to expand due to growing government measures to promote RIS usage. For instance, the Uttarakhand government and KareXpert Technologies collaborated in February 2020. According to the terms of the deal, the company would increase the Nainital district’s access to its RIS/PACS, HIMS, EMR/EHR, telemedicine, and other services.

By Delivery Mode

The market is categorized into cloud-based, on premise, and web-based. In the global market, the web-based segment accounted for the largest revenue share in 2022 owing to the fact that the evolution of clinical and business requirements across the continuum of care is facilitated by web-based RIS, which assists in connecting patient data to any required location. For instance, McKesson’s RIS improves physician productivity and care quality by incorporating a variety of Electronic Health Records (EHR) and providing cloud-based and server-based solutions. The cloud-based segment is anticipated to increase at a high rate. Cloud-hosted services cost significantly less than direct purchase models. Customers can subscribe to the most recent version at a low cost than purchasing the full model.

By End User

The market is segmented into outpatient department, hospitals & clinics, and others. In 2022, the hospitals & clinics segment accounted for the largest revenue share owing to the fact that the majority of RIS systems are installed in hospitals to maintain patient records in the form of datasets that can provide extensive information for planning, patient tracking, picture monitoring, and result reporting. Large healthcare IT companies are involved in the integration of every hospital database that links every piece of technology in a care facility. For instance, Infosys HIS includes RIS, Laboratory Information System (LIS), Pharmacy Information System (PIS), and Practice Management System to focus primarily on the EMR and IT-driven clinical transformation to optimise value for products (PMS).

Regional Markets

In 2022, North America region accounted for the highest revenue in the radiology information systems market and is expected to maintain its dominance during the forecast period. This is attributed to the development of the RIS, an increase in the number of radiologists, and the launch of new software systems by existing providers. The introduction of comprehensive RIS with integrated PACS has automated and simplified the medical imaging process, resulting in patient compliance and further driving regional growth. On the other hand, the Asia Pacific region is anticipated to exhibit the fastest CAGR throughout the projection period. The demand for RIS in the Asia Pacific is due to the expansion of outsourcing companies in the region and greater understanding of the value of workflow management at hospitals, clinics, and diagnostic labs.

Competitor Insights

Some of the key players operating in the radiology information systems market are McKesson Corporation, All scripts Healthcare, LLC, Siemens Healthineers AG, Epic Systems Corporation, Oracle, MedInformatix, Inc., General Electric Company, IBM, Koninklijke Philips N.V., eRAD, and Pro Medicus, Ltd.

To achieve a competitive edge, these businesses are implementing a variety of growth strategies. Strategic partnerships, alliances, and agreements with different businesses and research institutions are seen to be the main strategies used by companies in this sector.

• For instance, in March 2019, Koninklijke Philips N.V. announced that it had signed an agreement to acquire the Healthcare Information Systems (HCIS) division of Carestream Health Inc., a provider of medical imaging and healthcare IT solutions for imaging centres and other specialty medical clinics.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including product, delivery mode, and end user from 2023 to 2033.

Report Scope:

Segmentation: Radiology Information Systems Market Report 2022 – 2033

Product (Revenue, USD Million), 2022 – 2033

• Standalone RIS
• Integrated RIS

Delivery Mode (Revenue, USD Million), 2022 – 2033

• Cloud-based
• On premise
• Web-based

End user (Revenue, USD Million), 2022 – 2033

• Outpatient Department
• Hospitals & Clinics
• Others

By Region (Revenue, USD Million), 2022 – 2033

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA