Radiology Information Systems Market Growth & Trends
The global radiology information systems market size is expected to reach USD 1.9 billion by 2030, registering a CAGR of 10.19% from 2023 to 2030, according to a new report by Grand View Research, Inc. This market growth is driven by the factors such as the increasing incidences of chronic diseases and the adoption of advanced technologies in healthcare facilities. The growing usage of digital healthcare infrastructure, which helps collect and manage information generated by hospitals, clinics, and institutes, has enhanced the efficiency and effectiveness of their services.
The integration of Artificial Intelligence (AI) into radiology information system (RIS) offers lucrative growth opportunities for the market. This will result in smoother workflows, better patient care, and consistent support for radiologists. It also helps radiologists to deliver a coordinated ecosystem experience to make faster, more accurate, and more consistent diagnoses. Additionally, government initiatives to increase the adoption of RIS are expected to boost market growth.
An increasing number of medical imaging tests for various diseases is anticipated to drive the growth of the market. As per Harvard Health, around 80 million CT scans were performed in the U.S. annually. Furthermore, the number of radiology labs and increasing installations of MRI and CT scans have created the demand for RIS in hospitals.
COVID-19 slowed the growth of the market. This was mainly due to the decline in the number of non-urgent medical imaging procedures during the first wave. However, patient volumes recovered strongly in the second half. Many government organizations recommended radio-imaging tests for the detection of black fungus among COVID-19 patients. This positively impacted growth of the market in 2021.
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Radiology Information Systems Market Report Highlights
Based on deployment mode, the web-based segment held the largest revenue share in 2022, due to workflow enhancement features such as scheduling, document imaging, automated insurance eligibility functions, and billing
Based on product, the integrated RIS segment accounted for the largest market share in the year 2022. It offers data analysis with the help of Picture Archiving and Communication System (PACS) for the development of IT service models
Hospitals, emergency healthcare service providers, and physicians are a few RIS end-users. Hospitals majorly prefer radiology solutions for patient scheduling, and appointments, along with tracking patient history and records
North America led the radiology information systems market in 2022 in terms of revenue attributed to the technological advancements and presence of major market players
InJuly 2021, Kestral, an Australia RIS company, Aceso Health, a healthcare solution provider in New Zealand, and Sorsix Technologies entered into a multi-year collaboration. Under the terms of the agreement, the companies will combine Aceso’s Snap scan Patient Online Booking System with Kestral’s Karisma RIS.
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