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The global teleradiology market is served by a broad range of vendors, including international players with operations in multiple countries, and local vendors significant in their domestic country, many producing 100,000+ teleradiology readings of diagnostic images annually.

Insight into both the current and future of the outpatient market and what Imaging IT vendors will need to consider when operating in or looking to enter the market. Also some insight into the role and influence of private equity in the outpatient market.

Momentum has been incrementally building towards initial customer education and the nascent establishment of the market for monetizing imaging data. While this is a concept that is by no means unexplored across healthcare and life sciences, proliferation has been confined primarily to patient registries, electronic health records and insurance databases so far.

With healthcare IT becoming increasingly enterprise across departments and sites, Advanced Visualisation (AV) as well as PACS, is commonly a strategic obstacle due to its often standalone workstation-based nature.

SIIM 2018 saw the attendance of Imaging IT leaders from around the world and Signify Research was also in National Harbor to see the latest technologies to get a sneak peek into what the future of imaging IT might bring.

A concept stretching back decades, teleradiology has offered a considerable growth engine for IT vendors, teleradiology reading providers, and private equity companies. Excluding a blip during the pandemic, where teleradiology reading volumes fell in tandem with total diagnostic imaging procedure volumes, the market has grown at a steady pace over the past decade, with announcements of prominent market players generating double-digital growth year-on-year not being uncommon.

Despite Covid-19 grinding the world to a halt for numerous months and placing the global economy into the deepest recession since World War II, the imaging IT market has emerged from the pandemic relatively unscathed. Other medical imaging markets suffered drops in revenue of 5-15%, which could have been a similar story for the imaging IT market, with core platform deals being postponed and sizable deals not coming into consideration until later in 2020.

The growing influence and uptake of electronic medical records (EMRs) in healthcare has driven debate over the future role of specialist clinical and diagnostics software. With interoperability in the health sector still a major challenge, many health providers are looking to simplify their IT systems, consolidating to fewer software platforms and few vendor partners.

A little over a year ago, we identified the strong performance of Sectra in the global Imaging IT market and outlined the core aspects of its strategy here.