Radiology Information System (RIS) Market Analysis, Size and Growth to 2024

The global Radiology Information System (RIS) market is expected to reach USD 980.2 million by 2024 according to a new report by Grand View Research Inc. The significant number of technological advancements coupled with the growing demand for Healthcare Information Technology (HIT) is the major contributing factor for the growth of this market. 

The Electronic Medical Record (EMR) is one of the most crucial information systems for patient management across the healthcare system. With the advent of the integrated RIS, the EMR has been taken to the next level, now including radiology images in addition to text-based patient records. The RIS, a network software suite utilized for distributing, storing, and manipulating patient radiological imagery and data, enables the radiologists to manage the administrative and operational functions of radiology. 

It also ensures high business security and patient confidentiality. RIS is considered to be the core system for the electronic management of the imaging departments and is gaining popularity in developing economies such as China and India, where the population base of patients is enormous; thereby making it imperative to deploy RIS in their healthcare facilities. 

US and Canada Radiology Information System (RIS) market, by product, 2014 - 2024(USD Million)

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Further key findings from the report suggest: 

• The integrated RIS was identified as the most lucrative sub-segment of the market in 2015. Picture Archiving and Communication systems (PACS) and RIS have been rendered sophisticated with the adoption of more effective and consistent user interfaces.

• The integrated RIS has provided a platform for improved workflow and patient safety while decreasing the cost. The cost and risk involved in maintaining duplicate databases and a duplicate set of reports in this are negligible. Therefore, various facilities are opting for the integrated RIS to increase the workflow efficiency.

• In 2015, hospitals held the largest market in terms of revenue. This is attributed to the increasing patient inflow at hospitals and the requirement to conform to stringent standards in order to ensure patient safety with minimal error. It enables clinicians to manage and share patient diagnostic data, administrative and appointment functions, and radiology reports.

• In 2013, Accenture completed the deployment of a cloud-based RIS for 23 facilities and five hospitals in Southwest England within the National Health Service (NHS). This is expected to increase the efficiency of the facilities as it would allow clinicians to access information, securely store health-related patient data, and exchange diagnostic information.

• Cloud-based is expected to witness a lucrative growth rate over the forecast period. This is due to the increasing demand for cloud computing in medical imaging as it allows clinicians to share patient data across the region in crucial cases, such as major trauma or stroke.

• North America was the highest revenue-generating region of the market, owing to the incorporation of Healthcare Information Technology (HIT) and better healthcare facilities in the region. Every year, the North American Radiology Society conducts a workshop on clinical trials in radiology and imaging through small sessions and discussions. This workshop provides an experience in radiology clinical trials, learning the methodological aspects of the field, and designing and conducting an analysis of imaging clinical trials.

• Asia Pacific is expected to spearhead the future market growth. The Asian healthcare IT solutions market is growing at a rapid rate to overcome critical issues of the adverse drug effects and dosage-related issues. This is actively accelerating the demand for Radiology Information System (RIS), Picture Archiving and Communication System (PACS), Picture Information System (PIS), and Clinical Decision Support Systems (CDSS).

• In 2013, Singapore Health Ministry’s IT arm, Integrated Health information systems (IHis) and SingHealth and Eastern Health Alliance (EH Alliance) groups purchased Carestream’s Vue PACS and VUE RIS to achieve accurate radiology results and effectively manage patient’s imaging data

• The key players of the Radiology Information System (RIS) market include MedInformatix Inc., McKesson Corporation, Cerner Corporation, GE Healthcare, Philips Healthcare, and Siemens AG

• In 2015, the ASA biometric section funded an annual workshop in Scottsdale, Arizona. The workshop presented an opportunity to learn about the imaging clinical trials and to gain experience by collaborating with the imaging specialists and radiologists, which is helpful in the radiology information system. 

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eClinical Solutions Market is Expected to Reach USD 12.8 Billion by 2024

eClinical solutions market is expected to reach USD 12.8 billion by 2024, according to a new report published by Grand View Research Inc. The eClinical solutions market is anticipated to witness a lucrative growth during the period 2016 to 2024. The factors attributing towards the growth of the market are increase in the research and development activities by numerous biopharma and pharma companies, increasing application of software solutions in clinical trials, upsurge in the government funding to promote clinical research programs, rise in the number of Contract Research Organizations (CROs) and life sciences organizations, and increasing customer base. 

Additionally, factors such as increasing outsourcing of clinical trials to CROs, escalating clinical research programs in Asian countries, as well as, the development of cost-effective modules are expected to be opportunistic for the industry growth. However, the shortage of skilled labor force, high implementation costs of the eClinical solutions and the lack of awareness of clinical data sciences software in the research community are likely to hinder the growth of the market in the near future. 

The eClinical solutions market is segmented on the basis of product, delivery mode, clinical trial phase, end-user, and region. Based on the product, the industry is categorized into clinical analytics platforms, electronic Clinical Outcome Assessment (eCOA), Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS), clinical data integration platforms, safety solutions, Clinical Trial Management Systems (CTMS), Randomization and Trial Supply Management (RTSM), and electronic Trial Master File (eTMF). 

Global eClinical solutions market, 2013 - 2024 (USD Million)

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Further key findings from the study suggest:

• In 2016, North America is estimated to lead the market with the largest share in the eClinical solutions industry. The rising number of ongoing clinical trials, high demand for technologically advanced products, and increasing financial support from the government is anticipated to boost the industry growth.

• The eCOA segment is anticipated to witness the highest growth rate during the forecast period, whereas the EDC and CDMS segment is estimated to lead the market in the year 2016. Factors attributing to the growth of the industry are the increasing application of mobile and digital technologies, as well as, an upsurge in the demand for eDiaries in clinical trials for the collection of patient’s self-reports by pharmaceutical companies.

• The eClinical solutions industry comprises several local as well as global players. Some of the major players in this industry include Oracle Corporation, Medidata Solutions Inc., Parexel International, Inc., and Datatrak, among others. 

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Diabetes Devices Market is Expected to Reach USD 35.5 Billion by 2024

The global diabetes devices market is expected to reach USD 35.5 billion by the year 2024, according to a new report published by Grand View Research, Inc. Major drivers of the market include the growing number of diabetic patients owing to the sedentary lifestyles and unhealthy food habits. The growing demand for the advanced and minimally invasive, diagnostic as well as monitoring devices is expected to propel the market growth during the forecast period.

The rising awareness with regard to the technologically advanced monitoring tools, such as the continuous glucose monitor, is a crucial factor expected to spur the growth of the market. The demand for affordable monitoring devices in the developed as well as the less-developed countries is expected to propel the market growth of products, such as glucose test strips.

The existence of relatively smooth product approval procedures in most of the developed countries including the U.S and European countries are expected to boost the insulin devices market. The rising popularity of the compact, easy to carry monitoring devices, and the introduction of minimally invasive, highly efficient devices is expected to drive the market growth at a lucrative rate. However, the disparity in the reimbursement policies is primarily challenging the overall growth of this market.

China Diabetes Device Market, By monitoring and diagnostic devices type, 2014 - 2024 (USD Million)

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Further key findings from the study suggest:

• The demand for the diabetes devices is expected to surge owing to the factors such as the constantly increasing geriatric population prone to diabetes, the government initiatives taken to support better management of diabetes, and the growing awareness regarding diabetes devices

• In 2015, the test-strips sub-segment captured the largest market share in the blood glucose monitoring and diagnostic devices segment. The insulin pens accounted for the largest share of the insulin delivery devices segment. The global diabetes devices market is expected to reach USD 35.4 billion in 2024.

• The monitoring and diagnostic devices segment captured the largest market share of the overall market in 2015. The segment accounted for around 71% of the total market owing to repeat purchases.

• The monitoring and diagnostic devices segment is expected to maintain its dominance during the forecast period owing to the introduction of technologically advanced products coupled with the high adoption of these products in the near future

• North America captured the largest market share of around 32% in the year 2015. The domination of the market is expected to continue with a CAGR of 5.9%. The growing diabetic population, the availability of technologically advanced devices, and the presence of skilled professionals are the factors contributing to the growth of the market in North America.

• Asia Pacific is the fastest growing segment of the market. Countries, such as China and India are expected to show a swift growth owing to the high prevalence of diabetes, the rising awareness regarding commercially available devices, and the growing disposable income in these countries

• The key players in diabetes devices market include Abbott Laboratories, Inc., Bayer Healthcare AG, Johnson& Johnson, F. Hoffmann La-Roche Ltd., Becton Dickinson and Company, Medtronic, Inc., Novo Nordisk A/S, and Sanofi. 

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Point of Care Molecular Diagnostics Market is Anticipated to Reach USD 3.9 Billion by 2024

Global point of care molecular diagnostics market is anticipated to reach USD 3.9 billion by 2024, according to a new report by Grand View Research, Inc. Ongoing research & development to miniaturize molecular diagnostics testing that provides enhanced near patient testing with high accuracy & lesser turnaround times are major factors expected to reinforce the high growth potential for POC MDx products.

Growing demand for CLIA tests that are, by definition, portable and safe enough to be used in non-laboratory settings such as pharmacy clinics, physician offices, and home-care settings, is expected to drive demand in the market over the forecast period. Ongoing research and development is continually supported and funded by a number of major international entities including the national governments of developed countries and high-value private funding agencies such as the Bill & Melinda Gates Foundation.

Furthermore, a growing portfolio of point-of-care testing capabilities that, had initially been focused on screening, testing, and diagnosis of infectious diseases in low-income developing countries, has been developing at a rapid pace over the past decade to expand its potential market to a broader range of medical faculties. Consequently, POC and molecular diagnosis tests are available and/or are under development for cardiology monitoring, oncology testing, and hematology testing.

Recent advances in the development of microfluidics and genetic sequencing instrumentation pave the way for development of cost-effective, highly accurate and rapid testing platforms, which are able to be used as true POC systems. This is a key factor that significantly contributes towards the favorably funded, high growth potential environment prevalent in the point of care molecular diagnostics market.

U.S. Point of Care Molecular Diagnostics Market, By Application, 2015 - 2024 (USD Million)

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Further key findings from the report suggest:

• Application of POC MDx tests for infectious diseases accounted for over 45% of market revenue in 2015. The large share can be accounted for by the presence of an extensive portfolio of the concerned tests with a number of major market entities. Furthermore, growing disease burden of infectious diseases in developing as well as developed countries is another factor the reinforces the dominance of this segment.

• PCR-based POC tests accounted for the largest share of the market in 2015. Widespread usage of PCR-based techniques for molecular diagnosis and commercialization of POC real time PCR products such as the cobas LIAT by Roche have provided this segment with ample opportunities for revenue generation and are expected to maintain a favorable market environment over the forecast period.

• North America was observed to be the most lucrative region on this market and estimated to account for over 40% of the global revenue. presence of a technologically advanced medical framework, sophisticated insurance & copayment system & high R&D investment by governments and private funding organizations for the development of POC MDx tests are major factors responsible for the region’s dominant market position.

• Key players operating in this industry include Johnson & Johnson, Danaher Corp., Cepheid, Bio-Rad Laboratories, bioMerieux, Becton Dickinson, Roche Diagnostics, Bayer Healthcare, Alere Inc (Abbott), Abbott Laboratories among others.

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Allergy Diagnostics and Therapeutics Market is Expected to Reach USD 40.8 Billion by 2022

Global allergy diagnostics and therapeutics market is expected to reach USD 40.8 billion by 2022, according to a new report by Grand View Research, Inc. Increasing prevalence of allergic conditions and adoption of immunoassay as a viable diagnostic test is expected to serve this market with lucrative future growth opportunities. 

The prevalence of target diseases such as asthma and food allergies are expected to grow over the next seven years, supported by sedentary and dietary lifestyle habits. In addition, rising indoor, industrial pollution, rapid urbanization in developing countries and increasing greenhouse gas concentrations are expected to increase the prevalence of pollen induced respiratory disorder, thereby boosting the overall market growth over the forecast period. 

Increasing incidences of allergies has triggered the demand for sensitive, cost effective and accurate diagnostics tools. Manufacturers in congruence with the changing customer preferences are now engaged in constant product development. For instance, the MeDALL allergen-chip for allergy determination is further expected to propel market growth during the next seven years.

Allergy diagnostics product penetration & future growth opportunities, by allergen type

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Further key findings from the study suggest:

• Consumables being an indispensable diagnostic product segment sell in large volumes and therefore, dominated the market in 2014 with revenue share of over 55.0%. In addition, expensive nature of reagents and their frequent application in diagnostic assay also supports the aforementioned fact.

• Increasing demand for analyzers and laminators for allergy diagnostics is expected to help this segment grow at a lucrative CAGR of above 12.0% over the forecast period. Increasing awareness pertaining to outsourcing of allergy testing services is anticipated to show upward shift in coming years.

• Increasing demand for minimally invasive and allergen specific tests is anticipated to serve in vitro allergy diagnostics market with future growth opportunities.  The market is expected to grow with CAGR of above 12.0% over the forecast period.

• Inhaled allergens accounted for the largest share of revenue in 2014 owing to, the growing incidences of respiratory allergies. According to statistics published in 2012 by American Academy of Allergy Asthma and Immunology (AAAAI), around 7.8 million children suffered from respiratory allergies worldwide and the number is expected to increase over the forecast period.

• Hospitals are the largest consumer of allergy diagnostic products. The segment is anticipated to grow with CAGR of over 11.0% in coming years.

• Antihistamines were the largest allergy therapeutic segment as of 2014 with share valued at over 17.0% due to associated advantages such as non sedating nature of drugs and minimum side effects with use of second generation antihistamines in allergy treatment.

• Immunotherapy vaccines are expected to witness lucrative growth owing to extensive R&D coupled with the introduction of sublingual immunotherapy tablets in the treatment of allergic rhinitis. For instance, In April 2014, the U.S. FDA announced the approval of a five-grass pollen sublingual tablet (Ex-Oralair) produced by Stallergenes which are used in the treatment of pollen allergy.

• Some key players of this market include Thermo Fisher Scientific, Omega Diagnostics, Siemens Healthcare, Stallergenes Greer, Lincoln Diagnostics, bioMerieux, HOB Biotech Group, Alcon Laboratories, Hycor Biomedical and Hitachi Chemical Diagnostics.

• Industry players are focusing on introducing technologically advanced and innovative products to gain competitive advantage. For instance, in March 2015, Stallergenes received approval for STG 320 in Japan, which is the first sublingual immunotherapy tablet used in the treatment of house dust mite allergy. 

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Fluorescent In Situ Hybridization Probe (FISH Probe) Market is Expected to Reach USD 1.73 Billion by 2022

The global FISH probe market is expected to reach USD 1.73 billion by 2022, according to a new report by Grand View Research, Inc. Rising prevalence rate of disorders with cytogenetic base such as cancer and genetic abnormalities coupled with demand for rapid, accurate & sensitive prognosis techniques for disease validation are the key factors propelling growth of FISH probe in coming years. In addition, increasing R&D initiatives by industry players for development of novel, disease specific FISH probes biomarkers and pipeline products awaiting approval are other factors expected to boost industry growth. 

Technological advancement in chromogenic in situ hybridization (CISH) such as higher storage time for analyzed samples for long duration studies is expected to boost penetration of CISH probe in near future. 

U.S.FISH probe market, by type of RNA, 2012-2022 (USD Million)

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Further key findings from the report suggest:

• CISH is expected to be the fastest growing technology segment and is expected to grow at a lucrative CAGR of over 7.0% by 2022. Samples using CISH can be detected through bright field microscope and are thus less expensive than FISH. Strong signal quality for longer period of time is a major advantage of CISH over other methods.

• Companion diagnostics is used in personalized medicine and it includes medical decision, products and practices based on patient’s genetic, clinical, and genomic information. In oncology major companion diagnostics are based on FISH owing to higher reliability, sensitivity, accuracy, and procedure reproducibility, which are less affected by analytical variables and tissue fixation as compared to immunohistochemistry.

• Increasing demand in personalized medicine is a key factor expected to assist the companion diagnostics market register the fastest growth during the forecast period.

• mRNA dominated the type of RNA market, with revenue valued at over USD 300.0 million in 2014, owing to increased penetration and effective detection and validation of cytogenetic diseases.

• miRNA is expected to be the fastest growing RNA segment and is expected to grow at a CAGR of above 7.0% by 2022. The miRNA market is driven by factors such as the increasing R&D for development of miRNA probes and growing application of miRNA as a prognostic tool in cancer.

• Flow FISH is used for approximate detection of telomere length in case of large population studies. It is considered to be a modification of QFISH, but has been proved to give high through output than other counterparts. All the aforementioned facts are responsible for the lucrative growth of this segment over the forecast period. miRCURY LNA microRNA detection probes for ISH by Exiqon and PrimeFlow RNA assay by Affymetrix are used in RNA research and quantification.

• North America was the largest regional FISH probe market and was valued at over USD 400.0 million in 2014. The region’s market position is attributed to factors such as presence of well established healthcare system and increasing demand for accurate and rapid molecular cytogenetics techniques.

• The Asia Pacific FISH probe market is expected to exhibit lucrative growth of 9.0% over the forecast period due to rising per capita healthcare expenditure, improving healthcare facilities, and demand for IVD testing for disease detection. Additionally, increasing R&D activities pertaining to cancer diagnostics and investment by private & government sector into biotech industry in this region are the factors responsible for the growth.

• Key players of the FISH probe market include Oxford Gene Technology, Mirus Bio LLC, Agilent Technologies, Perkin Elmer Inc., Genemed Biotechnologies Inc., Horizon Diagnostics, BioDot Inc., Sigma Aldrich, Life Science Technologies, GSP Research Institute Co., Ltd, Abnova Corporation, Biosearch Technologies, F Hoffman La Roche AG, Bio Care Medical LLC, EXIQON, and Affymetrix Panomics. 

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Nerve Monitoring Devices Market Analysis, Size and Growth to 2022

Global nerve monitoring devices market is expected to reach USD 1.9 billion by 2022 according to a new study by Grand View Research Inc. Rising prevalence of neurological diseases, such as epilepsy, is a vital driver propelling market growth. Increasing geriatric population is another important driver responsible for growth of neuromonitoring devices, as these demographics are more prone to age-related neurodegenerative disorders.

Technological advancements such as wearable devices, which have better mobility and ability of round-the-clock monitoring, are expected to bolster the demand for these devices over the forecast period. Furthermore, large patient pool of neurological disorders is undiagnosed; hence, government is taking initiatives to promote early diagnosis, thereby increasing the demand for nerve monitoring devices. 

North America nerve monitoring device market, by technology, 2012-2022 (USD Million)

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Further key findings from the study suggest:

• Electroencephalography was the largest technology segment in 2014, owing to its wide clinical utility and its ability to unfold brain activity within milliseconds providing higher accuracy.

• On the contrary, electromyography is also expected to witness lucrative growth over the forecast period, attributed to rising prevalence of neuromuscular diseases such as muscular dystrophies and muscle rheumatism.

• Monitors witnessed a rapid growth in demand, which resulted in the product accounting for the largest share in 2014. Ancillary products such as disposable sponge disks, abrasive gel, alcohol swabs, disposable filter, and electrode creams are expected to witness substantial growth over the next seven years. Increased usage and repeat purchases are likely to drive segment growth.

• North America dominated the regional nerve monitoring devices market with over 45.0% share in 2014. Advanced healthcare infrastructure coupled with growing disposable income is anticipated to drive growth of the market.

• Asia Pacific is expected to witness lucrative growth over the forecast period. Presence of high unmet needs and untapped opportunities in India and China are expected to open up new avenues for market players.

• Key players operating in this market include Medtronic Plc., NuVasive, Inc., Nihon Kohden, Natus Medical Inc., Langer Medical GmbH, Neurosign Surgical, Neurowave Systems, Cadwell Laboratories, Compumedics Limited, and Electrical Geodesics Inc. Key trends witnessed in this market include collaborations to gain competitive advantage, technological advancements, and new product launches.

• For instance, in January 2015, Natus Medical Inc. announced its entry in neurodiagnostics market through the acquisition of Global Neuro-Diagnostics, a provider of home-based EEG testing. This acquisition helped the company to widen the portfolio of nerve monitoring offerings. 

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Idiopathic Thrombocytopenic Purpura (ITP) Therapeutics Market is Expected to Reach USD 566.4 Million by 2020

Global idiopathic thrombocytopenic purpura (ITP) therapeutics market is expected to reach USD 566.4 million by 2020. Rising R&D leading to the introduction of new drugs for IVIG and TPO-RA classes is expected to propel growth over the forecast period. In addition, government regulation such as the Orphan Drug Act in the United States with an aim to encourage new product development is projected to fuel growth.

The industry is characterized by rising demand for combination therapies as they exhibit higher efficiency as compared to other treatments. Moreover, they are cost efficient and help curb side effects associated with individual therapeutic classes. Some of the major combination therapies are dexamethasone and rituximab, dexamethasone and TPO-RA, IVIG and corticosteroids. Splenectomy, the procedure to remove spleen is aimed at reducing the amount of anti-platelet antibodies, is expected to fuel demand.

The global market for corticosteroid is valued at over USD 125.0 million in 2013. Corticosteroids are regularly used in idiopathic thrombocytopenic purpura treatment.

Global ITP therapeutics market, by product, 2012 – 2020 (USD Million)

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TPO-RA is likely to witness substantial growth, growing at a CAGR of over 9.0% from 2014 to 2020 owing to high response rates exhibited by patients administered with Eltrombopag and Romiplostim. Moreover, demand for TPO-RA is expected to increase due to the commercialization of Avatrombopag in 2015. In addition, the ability of TPO-RA to cater to splenectomized patients witnessing relapses is expected fuel demand over the next six years.

North America accounted for a majority share in 2013 due to rising occurrence of diseases coupled with the presence of high treatment rates, favorable government initiatives, and funding programs. North America had a share of over 40% of the global ITP market by revenue in 2013 and is expected to witness high demand over the forecast period.

Europe accounted for the second largest market share in 2013. This trend is projected to continue over the forecast period due to high usage rates of products along with government initiatives granting of special status to orphan drugs factors.

Asia Pacific is expected to experience substantial growth over the next six years, owing to the presence of favorable government initiatives, and sophisticated healthcare infrastructure in Australia and Japan. In addition, the presence of vast untapped opportunities in emerging markets such as China and India is expected to propel growth.

Some of the major players in the industry are and GlaxoSmithKline Plc., Hoffman-L Roche, Amgen Inc and Grifols Biologicals Inc. The companies make significant R&D investments aimed at new product development by taking advantage of incentives offered under the pertinent government regulations.

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Nuclear Imaging Equipment Market Analysis and Size 2014 To 2020

Two foremost technologies of nuclear imaging equipment market used for cancer and neurological imaging are PET (Positron Emission Tomography) and SPECT (Single Photon Emission Computed Tomography) scanners. Nuclear imaging is a nascent imaging technology that uses small quantity of radioactive substance linked to compounds used by the body’s cells or compounds that attach to tumor cells. Using special detection apparatus, the radioactive substances can be located in the body to see when and where they concentrate and this technique has the capacity of improving disease prevention, clinical research, medical diagnosis and treatment. PET generates computerized images of chemical alteration, such as sugar metabolism, which take place in tissue. Usually, the patient is given an injection of a combination of sugar and radioactively labeled sugar, radioactive sugar accumulates on the tumor in the body if it is present and can be traced with the help of a scanner.

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On the basis of technology, the nuclear imaging market can be segmented as PET, PET/CT, SPECT, and SPECT/CT. PET accounted for the highest market share owing to its ability to provide high resolution images, it is mainly used in oncology as the images provided gives comprehensive information of the tumor. SPECT has the maximum share in cardiology. Furthermore, lack of availability of technetium-99m used for SPECT is one of the factors for its low market share. On the basis of application the market can be segmented as oncology, neurology, and cardiology.

North America, Europe, Asia Pacific, and RoW are few key regions analyzed in the report. North America has the highest share of the PET and SPECT market globally closely followed by Europe. Asia Pacific market is expected to grow at a rapid pace due to rise in ageing population, increase in chronic disease prevalence, public and private investments to continuously improve medical infrastructure in the region.

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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.