Radiology Information Systems Market 2022
Radiology Information Systems Market is bound to reach US$ 1,179.2 Mn at a CAGR of 8.3% between 2022-2027. The current scenario is such that on-demand healthcare storage is being asked for. Cloud computing thus curtails operational expenses and capital as it simplifies sharing medical records, creates and maintains telehealth apps, and automates backend operations. This would be the scene with the healthcare vertical in the upcoming period.
Hospitals, medical research institutes, as well as governments, across the globe are hiking their healthcare IT spending to bring reforms in both, operations and outcomes. Instating databases is turning out to be more of a necessity for healthcare institutions, particularly for the field of radiology. Criticality of data produced and used by radiologists is compelling them to utilize speedy & error-proof data transference systems. Correspondingly, the transformation of global healthcare industry through digitization trends is also necessitating the deployment of radiology information systems.
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In its latest publication, Persistence Market Research has compiled more of such factors that will keep driving the growth of global radiology information system market in the years to come. According to this report, the global market for radiology information systems, which is presently valued at US$ 580.2 Mn, is anticipated to soar at 8.3% CAGR and reach US$ 1,179.2 Mn value by the end of 2027.
Company Profiles:
- Cerner Corporation
- Allscripts Healthcare Solutions Inc.
- Epic Systems Corporation
- General Electric Company
- Royal Philips NV
- Siemens AG
- McKesson Corporation
- Merge Healthcare Incorporated
- Medinformatix Inc.
- Novarad Corp.
Titled as “Radiology Information Systems Market: Global Industry Analysis and Forecast, 2016-2024,” the report reveals that global demand for radiology information systems continues to grow on the account of rising incidence rate of lifestyle-related diseases. Increasing consumer awareness to radiological procedures, and easy accessibility to these technologies are also serving as proponents for adoption of radiology information systems. Since installing radiology information systems supports a value-based healthcare model, medical practitioners are also promoting it as the immediate future of “digitalized” radiology.
The report reveals that in 2017 and beyond, the demand for cloud-based radiology information systems will remain considerably higher than on-premise systems. Deployment of cloud-based radiology information systems is projected to bring more than US$ 800 Mn by the end of 2024, while revenues emanating from on-premise deployment will soar at 7.3% CAGR. During the forecast period, a little over 45% of global revenues will be accounted by sales of radiology information software. The adoption of radiology information services is also slated to grow robustly, while radiology information hardware is likely to incur a moderate dip in revenues.
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Through 2024, medical institutions adopting radiology information systems will continue to do so on integrated platforms. Similar to the current scenario, integrated radiology information systems will procure over three-fourth of global market value by the end of 2024. Standalone radiology information systems, however, will be valued at just over US$ 280 Mn by the end of projection period. And, hospitals will undoubtedly be the largest end-users of radiology information systems. More than US$ 600 Mn worth of global radiology information system revenues will be emanating from hospitals spanned across the globe. Adoption of such systems will also be considerably high in diagnostic labs and ambulatory surgical centers.
By the end of 2024, North America will remain as the largest market for radiology information systems in the world. In 2016, the region’s radiology information systems market was valued at US$ 269 Mn. Meanwhile, Europe’s advanced healthcare infrastructure will also work in the favor of radiology information system adoption. Throughout the period, Europe’s radiology information system revenues will soar at a health CAGR, and contribute to nearly 23% share.
Although, fastest revenue growth is expected to be recorded by Latin America and the Asia-Pacific regions – revenues from which will surge at more than 8% CAGR.Radiology Information Systems Market, Radiology Information Systems Market Market, Radiology Information Systems Market Market Size, Radiology Information Systems Market Market Share, Radiology Information Systems Market Market, Radiology Information Systems Market Market overview, PersistenceMarketResearch, Radiology Information Systems Market Market Growth, Radiology Information Systems Market Market Analysis, Radiology Information Systems Market Market Demand, Radiology Information Systems Market Market Forecast, Radiology Information Systems Market Market Survey
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