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Increasing prevalence of chronic diseases such as cancer, chronic obstructive pulmonary disease (COPD), arthritis, diabetes among others is expected to boost the market size. For instance, according to the GLOBOCAN International Agency 2020, lung cancer accounted for approximately 2.2 million new cases and 1.8 million associated deaths, followed by colorectal accounting for 9.4%, liver for 8.3%, stomach for 7.7%, and female breast cancer for 6.9% of the total cancer patients. Thus, the rising burden of cancer and growing demand for effective diagnostic imaging solutions to support accurate and timely diagnosis, treatment planning and monitoring has boosted the adoption of RIS systems.
Furthermore, RIS system enables healthcare providers to efficiently manage imaging studies, track patient history and streamline reporting, leading to improved patient care and outcomes. Thus, various features offered by the RIS system is expected to drive the market value.
Radiology information systems industry size was USD 5.7 billion in 2022 and is projected to witness 12.6% CAGR from 2023 to 2032 attributed to the rising number of imaging procedures, such as X-rays, CT scans, MRIs, and ultrasounds.
Integrated segment accounted for 63.6% revenue share in 2022 and is set to expand substantially from 2023-2032 owing to their growing adoption to integrate with other healthcare information systems.
North America held 40.5% share of the radiology information systems market in 2022 and is anticipated to grow at a considerable growth rate through 2032 attributed to the increasing prevalence of chronic diseases in the region.
General Electric Company, Epic Systems Corporation, Koninklijke Philips N.V., and Oracle Corporation are some of the top companies engaged in the market.