Global Radiology Information System (RIS) Market Is Anticipated To Witness High Growth Owing To Increasing Incidences Of Chronic Diseases And Rising Geriatric Population

Radiology Information System (RIS) Market
Radiology Information System (RIS) Market

A radiology information system (RIS) is the core system for the electronic management of imaging departments. It can perform major functions like patient scheduling, resource management, examination performance tracking, reporting, results distribution and procedure billing. RIS is an indispensable tool for a successful radiology department, and the benefits are significant for healthcare providers and patients alike.

It helps organize medical images and data, enabling faster diagnosis and treatment. Streamlined work processes and personnel time savings help radiology departments save money and resources. These savings are derived from reduced paper usage, less scope for human error, and quicker access to patient data for the entire team.

Market Dynamics:

Growing technological advancements are estimated to augment growth of the global Radiology Information System (RIS) Market over the forecast period. For instance, the DRX Compass was launched by the Carestream Health India in February 2022. This is a convenient, accurate and configurable digital radiology solution that has been designed to provide efficiency to radiologists. Moreover, lack of skilled IT professionals and increasing costs related to treatment are anticipated to restrain growth of the global radiology information system (RIS) for market over the forecast period.

Impact of COVID-19:

The pandemic was declared as a public health emergency in 2020. It affected several nations across the world and led to shutting down of many industries. Strict lockdowns were implemented in many countries. These restrictions affected trade and the economy worldwide. The pandemic also resulted in diverting the attention of medical experts' towards treating COVID-19 patients.

Several governments have redirected funds towards developing drugs, and vaccines for COVID-19. This has restrained the growth of the global Radiology Information System (RIS) Market. However, in the post pandemic era these restrictions have been eased and the market is estimated to witness growth.

Key Takeaways:

The Radiology Information System (RIS) Market is projected to be worth US$ 814.3 million in 2019 and US$ 1,620.5 million by the end of 2027.

For instance, the Radiologex Foundation launched Radiologex in February 2020. This is a healthcare software ecosystem that includes clinical information systems, payment processing systems, productivity tools, and medical image processing and storage.

North America is anticipated to witness significant growth in the global radiology information system (RIS) for market over the forecast period, owing to growing advancement’s in RIS and rising number of radiologists.

Major players operating in the global Radiology Information System (RIS) Market are Pro Medicus, Ltd., Oracle, Siemens Healthineers AG, General Electric Company, eRAD, General Electric Company, Epic Systems Corporation, McKesson Corporation, MedInformatix, Inc., Koninklijke Philips N.V., and All scripts Healthcare, LLC.

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