Global Radiology Information System Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Radiology Information System Market 2021 (Includes Business Impact of COVID-19)
Global Radiology Information System Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global radiology information system market report has been segmented on the basis of product, deployment, component, end user, and region.
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The global Radiology Information System market size was valued at USD $787.35 million in 2020 and is projected to reach USD $1619.47 million by 2030, and is anticipated to expand at a CAGR of 7.48% over the forecast period from 2020 to 2030.


Global Radiology Information System Market: Overview


Radiology Information System (RIS) is a computer networked system used to organize and manage workflow of medical imagery and radiology department, supporting business analysis in a department. RIS is widely used along with picture archiving and communication system (PACS), and vendor neutral archive to manage billing, record keeping, appointment booking, custom patient report creation, image archives, and manage waiting lists.

There are various imaging technologies, such as X-ray, ultrasound, magnetic resonance imaging (MRI), computed tomography (CT), and positron emission tomography (PET), which include under radiology and used for diagnosis of a wide variety of diseases and skeletal conditions such as fractures.


Global Radiology Information System Market: Dynamics


Increasing rate of patient pool suffering from chronic diseases across developed and developing countries is a key factor expected to drive growth of the global market over the forecast period.

In addition, increasing R&D activities by government owed research organization for innovation and developing new technologies in existing system is another factor expected to further fuel growth of the target market over the forecast period.

Furthermore, rising adoption of radiology information system across medical industry in order to keep a track of patients medical record and secure the data is another factor expected to support growth of the target market over the forecast period.

However, lack of trained professionals for handling RIS and rising concerns regarding data safety and security are major factors expected to restrain growth of the global market over the forecast period. Increasing incidence of cyberattacks and need to secure patient information is important for companies operating in the target market.

Rising adoption of healthcare IT services across developing economies is a major factor expected to create potential revenue opportunities for players operating in the target market over the forecast period.


Global Radiology Information System Market: Segment Analysis


Among product, the integrated RIS segment is expected to dominate in the target market and is expected to continue its dominance over the forecast period, owing to it offers advanced features such as digital dictation, voice recognition, and barcode technology through its improved versions.

Among deployment mode, the web-based segment is expected to dominate in the target market over the forecast period, owing to its convenience and features to improve workflow for tracking and maintaining patient information such as beds in hospitals, billing, etc. Among end user, the hospital segment is expected to register significant share in terms of revenue over the forecast period.


Global Radiology Information System Market: Region Analysis


The market in North America is expected to register high growth rate in the global market over the forecast period, owing to early adoption of innovative technologies and improved healthcare infrastructure, especially in the US. The market in Asia Pacific is expected to register significant growth in terms of revenue over the forecast period, owing to increasing demand for advanced diagnostic treatments for chronic diseases across various countries in the region.


Below are the active patents related to Radiology Information System Market.


Patent Number: US9542481B2

Radiology data processing and standardization techniques

Abstract

Systems and methods for establishing standardization of radiology imaging procedure types and data related to such radiology imaging procedure types are disclosed herein. Radiology imaging data produced from radiology procedures at plurality of different systems and locations may produce different data formats and data values, even for the same radiology procedure. In one example, a radiology imaging order system is configured to standardize these different data formats and data values to a standardized format and identification that can be used for radiology study assignment, categorization, analytics, and related data federation activities. In further examples, multiple radiology procedures from respective facilities are normalized to a radiology procedure type schema, with each normalized radiology procedure type identifiable with a human-readable procedure identifier. Other examples of processing activities and use of the procedure identifier and standardized data are also disclosed herein.

Application File Date: 2014-06-19

Application Granted Date: 2017-01-10

Current Assignee: Virtual Radiologic Corp

Patent Number: US20130132490A1

Systems and methods for an application messaging integration framework

Abstract

Methods, systems, and computer-readable media are provided for an application messaging integration framework. An example method includes receiving a user input at a first clinical viewer via an integrated interface. The example method includes sending a message based on the input to a second clinical viewer via an application and messaging integrator. The application and messaging integrator is created to facilitate communication between the first and second clinical viewers. The example method includes updating information at the second clinical viewer based on the message. The example method includes displaying the updated information at the second clinical viewer via the integrated interface

Application File Date: 2012-01-31

Application Granted Date: 2016-08-02

Current Assignee: General Electric Co

Patent Number: US20150149506A1

Single schema-based ris/pacs integration

Abstract

An example integrated clinical information system includes a single schema, a database, and a user interface. The example single schema is to be used to represent clinical data related to a patient. The single schema is to provide a definition of an object in the system. The single schema is to define both objects of domain and objects of design, the definition to include attribute and relationship information. The single schema is to allow multiple applications forming the integrated clinical information system to process the object according to their respective data sets using a common interpretation according to the single schema. The single schema is configured to represent both patient image and order information and to provide a database agnostic data model for application development. The example user interface is to unify multiple applications according to the single schema and database.

Application File Date: 2013-11-27

Application Granted Date: 2017-08-29

Current Assignee: Csam Sweden AB

Global Radiology Information System Market Segmentation:

Segmentation by product:

  
Integrated RIS
  
Standalone RIS

Segmentation by deployment:

  
Web Based RIS
  
Cloud Based RIS
  
On-Premise RIS

Segmentation by component:

  
Services
  
Software
  
Hardware

Segmentation by end user:

  
Hospitals
  
In-Patient
  
Out-Patient
  
Physician Clinic
  
Emergency Healthcare Service Providers
  
Radiology Clinics


Key Market Players included in the report:


  
Allscripts Healthcare Solutions Inc. (U.S.)
  
Carestream Health Inc. (U.S.)
  
Cerner Corporation (U.S.)
  
Epic Systems Corporations (U.S.)
  
F. Hoffmann-La Roche Ltd (Switzerland)
  
GE Healthcare (U.K.)
  
General Electric Company
  
IBM (Merge Healthcare Incorporated)
  
Koninklijke Philips N.V.,
  
McKesson Corporation (U.S.)
  
MedInformatix Inc.
  
Merge Healthcare Incorporated (U.S.)
  
Novarad Corp.
  
Phillips Healthcare (The Netherlands).
  
Siemens Healthineers


Below are the key development related to Radiology Information System Market in 2020 and 2021.


August 2021: Nanox Enters into Acquisition via Merger Agreement with Zebra Medical Vision Ltd. and Announces Entry into Binding Letter of Intent with USARAD Holdings Inc. Upon the consummation of the acquisition, Nanox and Zebra Medical Vision anticipate that their mutual goal of global scanning to protect one’s health will put them in the position to potentially become the next generation AI-enabled medical device leader. Nanox is also entering into a binding letter of intent to acquire USARAD, a teleradiology company that provides teleradiology services in all 50 U.S. states. Nanox Enters into Acquisition via Merger Agreement with Zebra Medical Vision Ltd. and Announces Entry into Binding Letter of Intent with USARAD Holdings Inc. with the Goal of Creating an Integrated, Globally Connected End-to-End Radiology Solution and Population Preventive Health Platform. NANO-X IMAGING LTD ("Nanox" or the "Company," Nasdaq: NNOX), an innovative medical imaging company, announced entry into two agreements intended to create a globally connected, end-to-end radiology solution. The Company announced that it has entered into an agreement to acquire a leading medical artificial intelligence (AI) developer Zebra Medical Vision for a total of $100 million upfront, and up to another $100 million tied to achievement of specific milestones, all to be paid in Nanox shares. Nanox also announced that it has entered into a binding letter of intent to acquire USARAD and its related company, Medical Diagnostics Web, or MDW. USARAD operates a global network of 300 radiologists. Source

June 2021: Alliance Healthcare Services Announces Acquisition by and Integration With Akumin. Acquisition will create the most comprehensive radiology and oncology solutions provider in the U.S. and a catalyst for continued innovative growth in the industry. Alliance HealthCare Services, Inc. (“Alliance”), a leading national provider of radiology and oncology solutions to hospitals, health systems and physician groups, announced that it has entered into an agreement to be acquired for $820 million by Akumin Inc. (NASDAQ/TSX: AKU), a premier provider of freestanding outpatient radiology services in the U.S. The closing of the transaction is expected in third quarter of 2021, subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. Source

December 2020: Radiology Partners Completes Acquisition of MEDNAX Radiology Solutions. Combined expertise and experience brings opportunity for unmatched innovation and clinical value to radiology. Radiology Partners (RP), the leading radiology practice in the U.S., announced the completion of its acquisition of MEDNAX Radiology Solutions, a division of MEDNAX, Inc. (NYSE: MD), in a transaction valued at approximately $885 million.  Source