Radiology Information Systems Market Size Global Outlook, Business Opportunity, Upcoming Trends, Recent Development, Growth Drivers, Strategy, Key Players, Size, and Forecast 2022-2031

The radiology information systems market was valued at USD 809.8 million in 2022 and it is expected to reach USD 1,315.6 million by 2031, register a CAGR of nearly 7.3% during the forecast period.

COVID-19 is expected to have a significant impact on the radiology information system market. According to a research article published in the Radiological Society of North America, 2020, the policy measures adopted to slow the transmission of COVID-19 were decreasing the demand for imaging services. The guidelines from the Centers for Disease Control and Prevention to postpone emergency outpatient visits during the height of the pandemic had a great impact on screening services such as mammography and lung cancer screening, and the impact has been observed throughout the sector, including interventional procedures. This is likely to have affected the demand for radiology information systems as they are used to analyze data from radiology units. With the current easing of norms and the start of vaccination programs, the market is expected to see a positive trend in a few months.

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The major factors for the growth of the market include growth in the incidence rate of chronic diseases, improved access to healthcare information technology systems, and the increase in government funding for cancer-related research. The burden of chronic diseases is on the rise across the globe. The increase in the aging population and rising prevalence of chronic diseases and lifestyle-related disorders, such as cancer, arthritis, cardiovascular, and diabetes, are some of the primary factors responsible for the growth of this market.

According to the World Health Organization’s Ageing and Health Fact Sheet (published in 2018), by 2050, the world’s population aged 60 years and older is expected to reach a total of 2 billion, up from 900 million in 2015. The geriatric population is highly prone to several complex and chronic diseases, which is expected to drive the demand for radiology services and have a positive impact on the studied market. According to Globocan 2020, an estimated 19,292,789 new cancer cases and 9,958,133 deaths due to cancers were reported in 2020 worldwide. Increase in cancer cases will lead to an increase in focus on radiology services for proper diagnosis, which is expected to drive the market demand for radiology information systems. The increasing incidence rate of chronic diseases like cancer is driving the demand for radiology information systems in the market.

As per a research article published in Eurostat Statistics 2020, for CT scanners, there were 13.1 million scans in France, with the next highest numbers in Germany (12.7 million), Italy (5.7 million), and Spain (5.6 million) in 2018. For PET scanners, there were 607 000 scans in France, with Italy recording the next highest number at 338 000 scans in 2018. For MRI units, there were 12.3 million scans in Germany compared to 8.0 million scans in France, 4.5 million in Italy, and 4.3 million in Spain in 2018. Also, according to the Eurostat Availability of Imaging Equipment statistics of 2019, between 2013 and 2018, the largest increase in the availability of MRI units was recorded in Greece and Germany, where the number of MRI units per 100 000 inhabitants increased by 0.6 units per 100 000 inhabitants, accounting for 2.0 MRI units per 100 000 inhabitants in 2018, and the number of mammography units was also relatively high, within the range of 3.1-3.7 units per 100 000 inhabitants in Belgium in 2018. Increase in radiology procedures, coupled with the increase in accessibility to these services, is expected to have a positive impact on the radiology information system market.

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