The radiology information systems (RIS) market is estimated to be valued at about USD 688 million in 2018 and is expected to grow at a CAGR of 7% from 2018 to 2025. The major driving forces considered for the growth in the RIS market are the increasing age-related disorders, bone disorders, trauma patients, growing integration of RIS into HIS and PACS, and increasing mergers & acquisitions between medical device manufacturers and emergency health care facility providers. The barriers in the RIS market are the availability of experienced professionals and interoperability issues.
The Asia-Pacific region is expected to witness the highest CAGR growth in RIS market during the forecast period. This is due to the growing demand for digitalization from the developing countries such as India, China, and Australia.
In North America, the U.S. holds the largest share due to the increasing adoption of integrated EMR solutions, increasing financial support from the government, and growing demand of radiology information systems among leading healthcare providers. The North American and European regions are dominating the radiology information systems market because of growing demand for RIS in the diagnostic industry and increasing need for an integrated healthcare system.
The web-based system segment has seen a significant growth in the RIS market during the forecast period. The growing demand for workflow enhancement systems such as scheduling, document imaging, automated insurance eligibility functions and billing, are fuelling the growth of web-based systems in the RIS market. Whereas, the cloud-based segment is expected to grow at the fastest CAGR due to its growing demand since it too reduces operational cost in the healthcare industries.
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Apart from different RIS component, services segment held the largest market share during 2018 and 2025. This growth is due to the growing healthcare facilities, services and improving healthcare infrastructure in the emerging countries such as Brazil and the Middle East. The growing demand for the RIS technology in radiology and imaging laboratories has led to the growth of the software segment in the RIS market.
The integrated RIS segment accounted for the largest market share in the European radiology information system market.
The major key players in the global radiology information systems market include Cerner Corporation, McKesson Corporation, Merge Healthcare, Allscripts Healthcare Solutions, GE Healthcare, Philips Healthcare, Epic Systems, and Siemens AG.