Press release
Global Radiology Information Systems Market Projected to Surpass $1.51 Billion by 2029 with 10.03% Annual Growth
Radiology Information Systems
The increasing prevalence of chronic diseases is expected to boost the radiology information systems market. Chronic diseases, often linked to aging, poor lifestyle choices, and environmental factors, are rising in incidence. Radiology information systems are essential for diagnosing, managing, and monitoring chronic conditions through the efficient storage and retrieval of medical imaging data. The National Institutes of Health projects that by 2050, 47.81% of adults aged 50 and older will have at least one chronic condition, leading to growth in the radiology information systems market.
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What Is the projected market size and growth rate for the radiology information systems market?
The radiology information systems market has experienced rapid growth in recent years. It is expected to increase from $0.93 billion in 2024 to $1.03 billion in 2025, reflecting a compound annual growth rate (CAGR) of 10.3%. The historical growth can be attributed to regulatory changes, demographic shifts, cost pressures, healthcare consolidation, and initiatives aimed at improving quality.
The radiology information systems market is projected to grow to $1.51 billion by 2029 with a CAGR of 10.0%. The growth is driven by population health management, the expansion of telemedicine, AI integration, patient-centric care models, and the use of data analytics. Trends include the adoption of cloud-based solutions, the use of blockchain for data security, expansion beyond traditional imaging modalities, and the growth of teleradiology services.
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What new trends are reshaping the radiology information systems market and its opportunities?
Companies in the radiology information systems market are integrating advanced features like networked software systems to enhance interoperability and improve workflows in healthcare. Networked systems enable seamless communication and scalability across devices and applications. For instance, in January 2024, Vertex in Healthcare, a UK-based ICT company, launched the VRIS system, which automates workflows in radiology departments and enhances patient engagement through a user-friendly portal, boosting diagnostic throughput.
What major market segments define the scope and growth of the radiology information systems market?
The radiology information systems market covered in this report is segmented -
1) By Product: Integrated Radiology Information System, Standalone Radiology Information System
2) By Deployment: Web-Based, Cloud-Based, On-Premise
3) By End-User: Hospitals And Clinics, Outpatient Department, Office Based Physicians, Emergency Healthcare Service Providers, Research And Academic Institute
Subsegments:
1) By Integrated Radiology Information System: Picture Archiving and Communication System (PACS) Integration, Electronic Health Record (EHR) Integration, Laboratory Information System (LIS) Integration, Hospital Information System (HIS) Integration
2) By Standalone Radiology Information System: Radiology Scheduling Software, Radiology Reporting Software, Radiology Workflow Management Software
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Which region dominates the radiology information systems market?
North America was the largest region in the radiology information systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the radiology information systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the radiology information systems industry growth?
Major companies operating in the radiology information systems market are McKesson Corporation, General Electric Company, Oracle Corporation, Siemens Healthineers AG, FUJIFILM Holdings Corporation, Koninklijke Philips N.V., Cerner Corporation, Hologic Inc., Shimadzu Corporation, Epic Systems Corporation, Agfa-Gevaert Group, Veradigm LLC, Carestream Health, Allscripts Healthcare LLC, Esaote S.p.A., Sectra AB, Canon Medical Systems Corporation, Pro Medicus Limited, EIZO Corporation, eRAD, Fischer Medical, MedInformatix Inc.
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What Is Covered In The Radiology Information Systems Global Market Report?
•Market Size Forecast: Examine the radiology information systems market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the radiology information systems market for a structured understanding.
•Key Players Overview: Analyze major players in the radiology information systems market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the radiology information systems market.
•Segment Contributions: Evaluate how different segments drive overall growth in the radiology information systems market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the radiology information systems market.
•Industry Challenges: Identify potential risks and obstacles affecting the radiology information systems market.
•Competitive Landscape: Review strategic developments in the radiology information systems market, including expansions, agreements, and new product launches.
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