Portland, OR -- (SBWIRE) -- 09/29/2017 -- Radiology Information System Market report, published by Allied Market Research, forecasts that the global market is expected to garner $941 million by 2022, registering a CAGR of 5.9% during the period 2016-2022. The integrated radiology information systems segment held over three-fifths share of the total market in 2015.
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Factors such as enhancement of healthcare IT services, technological advancements, and surging prevalence of chronic diseases drive the market of radiology information system. In addition, increase in adoption of healthcare IT services in emerging economies are expected to create new opportunities for the key players during the analysis period. However, shortage of experienced IT professionals in healthcare and interoperability issues are the major barriers that restrain the market growth.
Based on the deployment mode, web-based market dominated the RIS market in 2015 owing to the increase in the adoption of web-based healthcare IT services. However, due to surge in demand for cloud-based services due to reduced operational cost & easy accessibility to data, the cloud-based RIS systems market is estimated to grow at the highest growth rate during the forecast period.
Web-based deployment segment dominated the RIS market in 2015 and accounted for three-fifths of the overall RIS market. However, cloud-based segment is expected to grow at the fastest CAGR of 7.8% during the analysis period, due to increase in demand for cloud-based services because they reduce operational cost for the healthcare organization.
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Services component segment held the largest market share with more than three-eighths share in 2015 due to high improving healthcare infrastructure in the emerging markets such as Brazil and Middle East. Software segment is expected to grow at the highest CAGR during the analysis period owing to the increase in the demand of RIS software in radiology and imaging laboratories.
Key Finding of Radiology Information System Market:
- Integrated radiology information system was the leading segment in 2015
- North America is projected to grow at a CAGR of 5.5%
- Asia-Pacific is expected to grow at the highest CAGR during the analysis period
- Hospital held the largest market share of the total RIS market in 2015
- The global cloud-based market is expected to grow at a CAGR of 7.8% during the study period
Geographically, North America accounted for the largest market share in 2015, due to well-established healthcare system in the region, higher adoption of healthcare information technologies, and increase in the number of chronic disease. However, Asia-Pacific is expected to emerge as the area with maximum growth potential due to focus of key players in the emerging economies and improving healthcare infrastructure.