RIS Market Size Projected to Reach USD 980.2 Million by 2024: Grand View Research, Inc.

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Jun 07, 2016, 06:17 ET

SAN FRANCISCO, June 7, 2016 /PRNewswire/ --

The global Radiology Information System (RIS) market is expected to reach USD 980.2 million by 2024 according to a new report by Grand View Research Inc. The significant number of technological advancements coupled with the growing demand for Healthcare Information Technology (HIT) is the major contributing factor for the growth of this market.

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The Electronic Medical Record (EMR) is one of the most crucial information systems for patient management across the healthcare system. With the advent of the integrated RIS, the EMR has been taken to the next level, now including radiology images in addition to text-based patient records. The RIS, a network software suite utilized for distributing, storing, and manipulating patient radiological imagery and data, enables the radiologists to manage the administrative and operational functions of radiology.

It also ensures high business security and patient confidentiality. RIS is considered to be the core system for the electronic management of the imaging departments and is gaining popularity in developing economies such as China and India, where the population base of patients is enormous; thereby making it imperative to deploy RIS in their healthcare facilities.

Browse full research report with TOC on "Radiology Information System (RIS) Market Analysis By Product (Integrated, Standalone), By Deployment Mode (Cloud-based, Web-based, On-premise), By End-use (Hospitals, Outpatient Department (OPD) Clinics, Others), And Segment Forecasts to 2024" at: http://www.grandviewresearch.com/industry-analysis/radiology-information-system-ris-market

Further key findings from the report suggest:

The integrated RIS was identified as the most lucrative sub-segment of the market in 2015. Picture Archiving and Communication systems (PACS) and RIS have been rendered sophisticated with the adoption of more effective and consistent user interfaces.
The integrated RIS has provided a platform for improved workflow and patient safety while decreasing the cost. The cost and risk involved in maintaining duplicate databases and a duplicate set of reports in this are negligible. Therefore, various facilities are opting for the integrated RIS to increase the workflow efficiency.
In 2015, hospitals held the largest market in terms of revenue. This is attributed to the increasing patient inflow at hospitals and the requirement to conform to stringent standards in order to ensure patient safety with minimal error. It enables clinicians to manage and share patient diagnostic data, administrative and appointment functions, and radiology reports.
In 2013, Accenture completed the deployment of a cloud-based RIS for 23 facilities and five hospitals in Southwest England within the National Health Service (NHS). This is expected to increase the efficiency of the facilities as it would allow clinicians to access information, securely store health-related patient data, and exchange diagnostic information.
Cloud-based is expected to witness a lucrative growth rate over the forecast period. This is due to the increasing demand for cloud computing in medical imaging as it allows clinicians to share patient data across the region in crucial cases, such as major trauma or stroke.
North America was the highest revenue-generating region of the market, owing to the incorporation of Healthcare Information Technology (HIT) and better healthcare facilities in the region. Every year, the North American Radiology Society conducts a workshop on clinical trials in radiology and imaging through small sessions and discussions. This workshop provides an experience in radiology clinical trials, learning the methodological aspects of the field, and designing and conducting an analysis of imaging clinical trials.
Asia Pacific is expected to spearhead the future market growth. The Asian healthcare IT solutions market is growing at a rapid rate to overcome critical issues of the adverse drug effects and dosage-related issues. This is actively accelerating the demand for Radiology Information System (RIS), Picture Archiving and Communication System (PACS), Picture Information System (PIS), and Clinical Decision Support Systems (CDSS).
In 2013, Singapore Health Ministry's IT arm, Integrated Health information systems (IHis) and SingHealth and Eastern Health Alliance (EH Alliance) groups purchased Carestream's Vue PACS and VUE RIS to achieve accurate radiology results and effectively manage patient's imaging data
The key players of the Radiology Information System (RIS) market include MedInformatix Inc., McKesson Corporation, Cerner Corporation, GE Healthcare, Philips Healthcare, and Siemens AG
In 2015, the ASA biometric section funded an annual workshop in Scottsdale, Arizona. The workshop presented an opportunity to learn about the imaging clinical trials and to gain experience by collaborating with the imaging specialists and radiologists, which is helpful in the radiology information system.

Grand View Research has segmented the global Radiology Information System (RIS) market on the basis of product, deployment mode, end-use and region:

Radiology Information System (RIS) Product Outlook (Revenue, USD Million, 2012 - 2022)
- Integrated RIS
- Standalone RIS
Radiology Information System (RIS) Deployment Mode Outlook (Revenue, USD Million, 2012 - 2022)
- Web-based
- Cloud-based
- On-Premise
Radiology Information System (RIS) End-use Outlook (Revenue, USD Million, 2012 - 2022)
- Hospitals
- Outpatient Department (OPD) Clinics
- Others
Radiology Information System (RIS) Regional Outlook (Revenue, USD Million, 2012 - 2022)
- North America
  - U.S
  - Canada
- Europe
  - UK
  - Germany
  - France
  - Rest of Europe
- Asia Pacific
  - India
  - Japan
  - China
  - Rest of Asia Pacific
- Latin America
  - Brazil
  - Mexico
  - Rest of Latin America
- MEA
  - South Africa
  - Rest of MEA

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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