LONDON--(BUSINESS WIRE)--The global RIS market size is poised to grow by USD 114.97 million during 2020-2024, progressing at a CAGR of over 1% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The prevalence of chronic diseases such as cardiovascular diseases (CVD), cancer, neurological diseases, and orthopedic diseases is increasing across the world. The rising prevalence of chronic diseases can be attributed to the increasing rate of risk factors, such as diabetes, hypertension, smoking, and obesity. The risk of chronic diseases also increases with age. Since medical imaging tests such as CT and MRI are widely used for the diagnosis and management of chronic diseases, and their rising prevalence will fuel the demand for medical imaging tests and consequently boost the popularity of workflow management technologies, such as RIS.
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Report Highlights:
- The major RIS market growth came from the integrated RIS segment. RIS is generally integrated with advanced technologies, such as PACS, EHR, and HIS. The demand for integrated RIS is increasing among end-users as they help in reducing costs, measure overall productivity levels, and streamline communication with all stakeholders.
- Asia will offer maximum growth opportunities to market vendors during the forecast period. Factors such as the increasing awareness of technologically advanced workflow management solutions, growing demand for medical imaging examinations, and rising adoption of imaging equipment are contributing to the radiology information systems market growth in this region.
- The global RIS market is concentrated. Agfa-Gevaert NV, Allscripts Healthcare Solutions Inc., Cerner Corp., Epic Systems Corp., FUJIFILM Holdings Corp., General Electric Co., INFINITT Healthcare Co. Ltd., International Business Machines Corp., Koninklijke Philips NV, and Siemens Healthineers AG. are some of the major market participants. To help clients improve their market position, this RIS market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global RIS market 2020-2024 is expected to have Neutral and At par growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Integration of Cloud-technology with RIS will be a Key Market Trend
The rising adoption of MRI, CT, and X-ray systems, increasing practice of defensive medicine, and technological advances such as 3D imaging and full-body PET/MRI scans have resulted in the generation of huge amounts of medical image data. Various government regulations, such as the HIPAA act, mandate the storage of patient data even after a patient’s discharge. Diagnostic centers and hospitals are increasingly adopting cloud-based technologies as the existing RIS/PACS and data storage technologies are unable to manage the massive amount of medical imaging data effectively. The integration of cloud-technology with RIS, which is one of the critical radiology information systems market trends, will provide end-users with a secure platform to store sensitive patient data, improve productivity, and increase cost savings.
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RIS Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist RIS market growth during the next five years
- Estimation of the RIS market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the RIS market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of RIS market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Preface
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Value chain analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market size and forecast 2019-2024
- Market Outlook
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY PRODUCT
- Market segmentation by product
- Comparison by product
- Integrated RIS - Market size and forecast 2019-2024
- Standalone RIS - Market size and forecast 2019-2024
- Market opportunity by product
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- Asia - Market size and forecast 2019-2024
- ROW - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Technological advances
- Increasing demand for cloud-based systems
- Emerging applications of RIS
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Agfa-Gevaert NV
- Allscripts Healthcare Solutions, Inc.
- Cerner Corp.
- Epic Systems Corp.
- FUJIFILM Holdings Corp.
- General Electric Co.
- INFINITT Healthcare Co. Ltd.
- International Business Machines Corp.
- Koninklijke Philips NV
- Siemens Healthineers AG
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
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