This report provides exclusive insights into the COVID-19 impact on the Radiology Information Systems Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Radiology Information Systems Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Radiology Information Systems Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on radiology information systems market provides an in-depth analysis of segments and sub-segments in the global as well as regional radiology information systems market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional radiology information systems market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global radiology information systems market. According to the report the global radiology information systems market is projected to grow at a CAGR of 6.3% over the forecast period of 2018-2024.
The radiological information system (RIS) is the core system for the electronic management of imaging departments. The major functions of the RIS include patient scheduling, resource management, examination performance tracking, examination interpretation, results in distribution, and procedure billing. RIS complements HIS (hospital information systems) and PACS (picture archiving and communication system). It is critical to efficient workflow to radiology practices. RIS is typically a database system that radiologists use to keep a record of patient data and image files. Radiology and imaging department generate large digital files. It helps to store and keep a track of the data for future references. Computerized medical systems allow interactive documents. The huge imaging data files generated in the course of diagnosis and treatment are required to be maintained in the electronic systems due to data safety and convenience. RIS facilitates to improve work efficiency, better patient coordination, reduction in medical errors, improved diagnosis, and streamlined administrative functions.
Radiological information systems support several features such as patient registration and scheduling, patient list management, and modality interface using worklists. Additionally, it supports workflow management within a department of radiology such as document scanning, result entry, digital reporting and paper-formatted export functionality, result transmission, including faxing and e-mailing of clinical reports. Further, it also supports patient tracking, interactive documents, and creation of technical files, modality and material management.
Factors such as the growth of healthcare IT services, technological advancements, and surging prevalence of chronic diseases drive the market of the radiology information system. In addition, continuous growth in the adoption of healthcare IT services in emerging economies is expected to create new opportunities for key players during the analysis period. However, shortages of experienced IT professionals in healthcare and interoperability issues are barriers that restrain the market growth.
Geographically, North America accounted for the largest market share, due to the well-established healthcare system in the region. Additionally, higher adoption of healthcare information technologies and the continuous increase in the number of chronic diseases are helping to grow this market in the North America region. However, Asia-Pacific is expected to emerge as the area with maximum growth potential due to the focus of key players in the emerging economies and improving healthcare infrastructure.
The report on global radiology information systems market covers segments such as type, component, deployment mode, and end user. On the basis of type, the global radiology information systems market is categorized into integrated radiology information systems and standalone radiology information systems. On the basis of component, the global radiology information systems market is categorized into services, software, and hardware. On the basis of deployment mode, the global radiology information systems market is categorized into web-based, on-premise, and cloud-based. On the basis of the end user, the global radiology information systems market is categorized into hospitals, office-based physicians, emergency healthcare service providers, and others.
The countries covered in the North America region include the U.S., Canada, and Mexico; while the Asia-Pacific region includes countries such as China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are the major markets included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in the region. In the Asia-pacific region, rapid industrial growth in India and China offer substantial potential for the growth in the radiology information systems market. As a result, the APAC region is projected to experience growth at a CAGR of x.x% over the forecast period 2018-2024.
The report provides profiles of the companies in the global radiology information systems market such as Allscripts Healthcare Solutions, Inc., Carestream Health, Inc, Cerner Corporation, Medinformatix, Inc., Epic Systems Corporation, Merge Healthcare Incorporated, GE Healthcare, McKesson Corporation, Philips Healthcare, and Siemens Healthcare.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global radiology information systems market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of radiology information systems market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the radiology information systems market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the radiology information systems market to understand the present and future trends in this market and formulate their strategies accordingly.