The radiology information systems market will experience a CAGR of 8.3%, reaching US $ 500 million between 2024. With the medical IoT involving the use of portable monitors, devices and various integrated applications relating to medical devices. health care needs, the vertical health sector is set to change again. hooked heights in the coming period. This is what the health care vertical would look like in the next 10 years.
Hospitals, medical research institutes and governments around the world are increasing their healthcare IT spending to bring about reforms in both operations and outcomes. The establishment of databases is proving more and more a necessity for health establishments, in particular for the field of radiology.
The criticality of the data produced and used by radiologists requires them to use fast and error-proof data transfer systems. As a result, the transformation of the global healthcare industry through digitalization trends also requires the deployment of radiology information systems.
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Allscripts Healthcare Solutions Inc.
Epic Systems Corporation
General Electricity Company
Koninklijke Philips NV
Merge Incorporated Health
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In its latest post, Persistence Market Research has compiled more of these factors that will continue to drive the growth of the global Radiological Information Systems Market in the years to come.
According to this report, the global radiological information systems market, which is currently valued at US $ 580.2 million, is expected to soar at 8.3% CAGR and reach US $ 1,179.2 million of by the end of 2024.
Entitled “Radiologic Information Systems Market: Global Industry Analysis and Forecast, 2016-2024,” the report reveals that the global demand for radiologic information systems continues to grow owing to increasing disease incidence rate. lifestyle related.
The growing consumer awareness of radiological procedures and the ease of access to these technologies are also proponents of the adoption of radiological information systems. Since the installation of radiological information systems supports a value-based healthcare model, physicians are also promoting it as the immediate future of “digital” radiology.
The report reveals that in 2017 and beyond, the demand for cloud-based radiology information systems will remain significantly higher than that for on-premise systems.
The deployment of cloud-based radiology information systems is expected to bring in over US $ 800 million by the end of 2024, while revenues from on-premise deployment will grow at 7.3% CAGR. During the forecast period, just over 45% of global revenue will be accounted for by sales of radiological information software.
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The adoption of radiological information services is also expected to experience strong growth, while radiological information equipment is expected to lead to a moderate decline in revenues.
Until 2024, medical institutions adopting radiological information systems will continue to do so on integrated platforms. As in the current scenario, integrated radiological information systems will account for more than three-quarters of the global market value by the end of 2024.
Stand-alone radiological information systems, however, will be valued at just over US $ 280 million by the end of the projection period. And, hospitals will undoubtedly be the largest end users of radiological information systems.
More than US $ 600 million in global radiology information system revenue will come from hospitals around the world. The adoption of such systems will also be considerably high in diagnostic laboratories and outpatient surgery centers.
By the end of 2024, North America will remain the world’s largest market for radiological information systems. In 2016, the region’s radiological information systems market was valued at $ 269 million.
Meanwhile, Europe’s advanced healthcare infrastructure will also support the adoption of the Radiological Information System. Throughout the period, the revenues of the European Radiological Information System will skyrocket at a health CAGR and contribute to a share of nearly 23%. However, the fastest revenue growth is expected to come from Latin America and Asia-Pacific regions – whose revenues will grow by more than 8% CAGR.
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