Asia-Pacific Radiology Information Systems (RIS) Market, By Type (Integrated Radiology Information Systems, Standalone Radiology Information Systems), Component (Services, Software, Hardware), Deployment Mode (Web-Based, On-Premise, Cloud-Based), End User (Hospitals, Office-Based Physicians, Emergency Healthcare Service Providers) – Industry Trends and Forecast to 2030.
Asia-Pacific Radiology Information Systems (RIS) Market Analysis and Size
One of the major factors driving the growth of the radiology information systems (RIS) market are the increased use of the system in dental healthcare in the form of dental radiology equipment, as well as the use of interventional radiology for a wide range of imaging procedures to obtain images of inside the body.The rise in the prevalence of chronic diseases among the global population and the implementation of cloud-based services in the healthcare sector are both influencing the market. Furthermore, increased demand for better and more cost-effective healthcare systems, an increase in the geriatric population, and an increase in healthcare expenditure all benefit the radiology information systems (RIS) market.
Data Bridge Market Research analyses that the radiology information systems (RIS) market which was USD 244.54 million in 2022, is expected to reach USD 469.66 million by 2030, at a CAGR of 8.5% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Asia-Pacific Radiology Information Systems (RIS) Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Integrated Radiology Information Systems, Standalone Radiology Information Systems), Component (Services, Software, Hardware), Deployment Mode (Web-Based, On-Premise, Cloud-Based), End User (Hospitals, Office-Based Physicians, Emergency Healthcare Service Providers)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)
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Market Players Covered
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IBM (U.S.), Koninklijke Philips N.V. (Netherlands), Siemens Healthcare GmbH (Germany), Cerner Corporation (U.S.), McKesson Corporation (U.S.), general electric (U.S.), CANON MEDICAL SYSTEMS CORPORATION (Japan), FUJIFILM Holdings Corporation (Japan), ESAOTE SPA (Italy), Hitachi Ltd. (Japan), Allscripts (U.S.), MedInformatix, Inc. (California), Epic Systems Corporation (U.S.), Carestream Health (U.S.), Shimadzu Corporation (Japan), Hologic, Inc. (U.S.), EIZO Corporation (Japan), Sectra AB (Sweden), Fischer Medical (U.S.)
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Market Opportunities
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Market Definition
A radiological information system (RIS) is a networking software suite designed specifically for dealing with medical imaging and related data. The RIS aids in the handling of radiological information and documents at various locations. The system is used to manage workflow, accounting, and a picture archiving and communication scheme. A radiology information system is a computer system designed to help radiology departments with effective workflow and business analysis. The radiology information system is software that manages data in an electronic format for the hospital's radiology department and clinics. Data can take many forms, including billing, scheduling, and medical imaging. It is critical to save and keep track of data for future use. Implementing a radiology information system improves work efficiency, patient coordination, reduces medical errors, improves diagnosis, and streamlines administrative functions.
Radiology Information Systems (RIS) Market Dynamics
Drivers
- Increasing prevalence of chronic diseases
The increasing prevalence of chronic diseases such as cancer, cardiovascular disease, arthritis and diabetes as a result of rising fast food consumption and sedentary lifestyles is one of the key factors driving the market. Furthermore, an increase in the number of radiology information system (RIS) applications is expected to drive market growth. Rising awareness of the benefits of minimally invasive treatments is expected to contribute to market growth.
- Rising usage of Big healthcare IT corporations
Big healthcare IT corporations are involved in the integration of all hospital databases that connect all the systems and equipment in a care setting. For instance, Infosys HIS focuses primarily on EMR and IT-driven clinical transformation to maximize product value by including RIS, Laboratory Information System (LIS), Pharmacy Information System (PIS), and Practice Management System (PMS). The outpatient department (OPD) is to expand significantly during the forecast period. This can be attributed to an increase in the number of outpatient visits. Furthermore, the segment's growth is aided by a gradual shift of patients to outpatient settings and improved health coverage.
Opportunities
- Growing regulatory approvals
The number of active participants and regulatory approvals is growing. For instance, in 2019, Philips, released IntelliSpace Cardiovascular 4.1, a cardiovascular image and information management system with efficient paediatric reporting capabilities. The prevalence of cardiovascular disorders is increasing, and the introduction of software results in improved treatment and diagnosis options. As a result, the increasing number of diagnostic imaging procedures and advancements propels the Asia-Pacific radiology information system (RIS) market.
Restraints/Challenges
Increasing concern about patient data safety and security
Despite a variety of factors, the growing threat of cyber-attacks and the potential exploitation of patient-related personal data hamper the RIS adoption and market expansion. However, a lack of trained IT professionals and high treatment costs are expected to stymie the growth of the radiology information systems (RIS) market. Interoperability issues will also be a challenge that could hamper the growth of the radiology information systems (RIS) market.
This radiology information systems (RIS) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the radiology information systems (RIS) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on the Radiology Information Systems (RIS) Market
The COVID-19 pandemic had a significant impact on the market, particularly in the first half of 2020. The gradual increase in patient volume following the pandemic, as well as the resumption of elective imaging procedures, are expected to boost the market. New product development is expected to boost the market. For example, at the 2021 Annual Meeting of the Radiological Society of North America in December 2021, Sirona Medical Inc. announced the launch of a cloud-native radiology operating system (RadOS).
Recent Developments
- In February 2020, Radiologex Foundation announced the launch of Radiologex. It is a software ecosystem for healthcare that includes productivity tools, clinical information systems, medical imaging processing and storage, payment settlement systems, and lending/finance systems.
- In April 2019, Hologic, Inc. announced the release of the Trident HD specimen in Canada. The Trident HD system is a cutting-edge radiography solution that provides improved image quality and workflow and quick sample verification in breast-conserving procedures and stereotactic breast biopsies.
- In February 2020, Uttarakhand's government joined forces with KareXpert Technologies. The agreement calls for the company to expand its RIS/PACS, HIMS, EMR/EHR. telemedicine, and other services in the Nainital district.
Asia-Pacific Radiology Information Systems (RIS) Market Scope
The radiology information systems (RIS) market is segmented on the basis of type, component, deployment mode and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Integrated
- Standalone
Component
- Services
- Software
Deployment Mode
- Web Based
- On-Premise
- Cloud-Based
End User
- Hospitals
- Office Based Physicians
- Emergency Healthcare Service Providers
Radiology Information Systems (RIS) Market Regional Analysis/Insights
The radiology information systems (RIS) market is analyzed and market size insights and trends are provided by country, type, component, deployment mode and end user as referenced above.
The countries covered in the radiology information systems (RIS) market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
Japan is expected to dominate the Asia-Pacific (APAC) region owning to development in the healthcare.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The radiology information systems (RIS) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for radiology information systems (RIS) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the radiology information systems (RIS) market. The data is available for historic period 2011-2021.
Competitive Landscape and Radiology Information Systems (RIS) Market Share Analysis
The radiology information systems (RIS) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to radiology information systems (RIS) market.
Some of the major players operating in the radiology information systems (RIS) market are:
- IBM (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Siemens Healthcare GmbH (Germany)
- Cerner Corporation (U.S.)
- McKesson Corporation (U.S.)
- General Electric (U.S.)
- CANON MEDICAL SYSTEMS CORPORATION (Japan)
- FUJIFILM Holdings Corporation (Japan)
- ESAOTE SPA (Italy)
- Hitachi Ltd. (Japan)
- Allscripts (U.S.)
- MedInformatix, Inc. (California)
- Epic Systems Corporation (U.S.)
- Carestream Health (U.S.)
- Shimadzu Corporation (Japan)
- Hologic, Inc. (U.S.)
- EIZO Corporation (Japan)
- Sectra AB (Sweden)
- Fischer Medical (U.S.)
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