Market Trends of Global Radiology Information Systems Industry
This section covers the major market trends shaping the Radiology Information Systems Market according to our research experts:
The Cloud-based Segment is Expected to Witness High Growth over the Forecast Period
The modernization of operations and approaches by utilizing technology solutions, such as radiology information systems and analytical sources, has significantly improved healthcare organizations and facilities. Images and reports are now being transmitted digitally via PACS (Picture archiving and communication system) by integrating the system with the radiology information system (RIS) and hospital information system (HIS). This integration eliminates the need to manually store, retrieve, and display film jackets. Given these benefits, most healthcare systems are shifting toward the adoption of radiology information systems, which is expected to drive market growth over the forecast period.
Cloud-hosted services are quite cheap as compared to the direct purchase model. This is because they allow users to subscribe to the latest version of a radiology information system at a lower price rather than purchasing the complete model. Since cloud-based systems store data on external servers, they can be easily accessed over the web and require only a computer with an internet connection for optimal working. Cloud-based delivery helps healthcare providers and patients access information at any time. As cloud-based radiology information systems are more cost-effective, they are particularly suitable for small to medium-sized hospitals, as they cannot afford large hardware expenditures.
Cloud-based radiology information systems also allow medical practitioners and physicians to control access to sensitive information. The launch of a new cloud-based radiology information system will augment the segment growth. For instance, in December 2021, Sirona Medical launched a cloud-native radiology operating system (RadOS) at the 2021 Annual Meeting for the Radiological Society of North America (RSNA). The unified workspace platform was developed based on the principle that technology, and AI, in particular, should augment the intelligence of the physician. This software aims at simplifying a radiologist's work resulting in a better user experience and work product.
Thus, due to the multiple benefits associated with cloud-based systems, the market is expected to witness high growth over the forecast period.
North America is Expected to Hold a Significant Market Share Over the Forecast Period
North America is expected to hold a major market share in the radiology information systems market due to increasing cases of chronic diseases and rising healthcare expenditure.
According to the estimates of Globocan 2020, there were around 195,499 new cases of cancer in Mexico. During the same time, around 90,222 deaths occurred due to cancer in the country. The rising prevalence of chronic diseases like cancer is expected to propel the market, as cancer diagnosis relies heavily on advanced radiology imaging technology. The data from these radiology systems are analyzed and stored in radiology information systems.
Medical imaging procedures make an invaluable contribution to the examination, diagnosis, monitoring/documentation, and treatment of medical conditions. Radiology information systems are then used for patient administration, examination, reporting, statistics, and system administration, which displays, stores, retrieves, transfers, exchanges, and prints radiology orders, results, and reports.
Companies in the region are partnering with major radiology service providers for market growth. Other strategic initiatives and milestones achieved by major players, along with the launch of new products and technological innovation, are expected further drive the market in the region. For instance, in July 2021, FUJIFILM Medical Systems U.S.A, Inc. reported that the next-generation Synapse Enterprise Information System (EIS) had been selected by United States Radiology Specialists to drive efficient and high-quality patient care across its network. Synapse Radiology Information System (RIS) is a comprehensive workflow management solution designed to streamline physician communication, improve patient interaction, and alleviate the mentioned administrative burden for the outpatient imaging market.
Thus, due to the abovementioned factors, the studied market is expected to experience significant growth during the study period.
