Tag: enterprise imaging

Indies Surge in Imaging IT

Posted on by Brian Casey

The market for medical imaging IT technology continues to shift, with a pair of surging independent players growing rapidly in a sector that’s long been dominated by multinational OEMs. That’s according to the latest report on the imaging IT market by UK market intelligence firm Signify Research. 

The new report is projecting that the global market for imaging information technology will grow 18% over the next few years, from $5.6B in 2023 to $6.6B in 2028. 

  • Radiology will continue to dominate with a majority of sales, with cardiology IT a distant – but growing – second. Advanced visualization and operational workflow tools will make up the rest.

In terms of vendors, the top three market leaders of 2023 were GE HealthCare, Philips, and Fujifilm, but more recently, Visage Imaging and Sectra have been gaining market share. 

  • The report echoes recent news that has seen some of the largest multi-site enterprise imaging installations going to Visage and Sectra; a recent KLAS Research report also showed both companies’ growing momentum. 

Some of the other major points from the report include … 

  • Major growth in cloud deployment will occur – by 2028, 37% of the global imaging IT market will be in either hybrid or fully hosted environments
  • Cloud will represent 44% of the total radiology IT market by 2028
  • On a regional basis, the Middle East will see “significant growth” in imaging IT from 2024 to 2026, particularly in the Gulf States
  • Recovery is expected in China and the ASEAN nations, while India’s growing economy is driving healthcare digitization
  • Latin America is showing rising interest in AI and cloud technologies, but national elections could complicate matters

The Takeaway
The new Signify Research report underscores the evolving nature of the imaging IT market, as independent vendors rise to challenge multinational OEMs that dominated the sector for years. Be sure to check out Signify’s helpful infographic on LinkedIn that succinctly wraps up the changes.

Intelerad’s Reporting Play

Posted on by Jake Fishman

Intelerad continued its M&A streak, acquiring radiology reporting company, PenRad Technologies, in a relatively small deal that might have a much bigger impact than some think.

PenRad has a solid share of the breast and lung cancer screening reporting segments, making it a target of a number of PACS vendors in recent years.

The acquisition is another example of Intelerad using its private equity backing to complete its informatics portfolio, following a series of deals that allowed its expansions into new clinical areas (cardiac, OB/GYN), regions (UK), technologies (cloud), and functionalities (image sharing, cloud VNA).

Adding PenRad will immediately give Intelerad three proven cancer screening reporting solutions to offer to its PACS customers, while bringing Intelerad into an untold number of PenRad accounts that it didn’t work with before now. 

The deal’s long-term impact will likely be dictated by how well Intelerad integrates and enhances its new PenRad technologies. If Intelerad is able to seamlessly integrate its PACS/worklist with PenRad’s dictation/reporting, it could create a truly unique advantage — especially if Intelerad expands its reporting capabilities beyond just cancer screening. 

Intelerad’s PenRad acquisition and Sirona’s unified radiology platform also highlight the differentiating role that integrated reporting might play in future enterprise imaging portfolios, although there aren’t many more reporting companies still available for acquisition.

The Takeaway

Informatics veterans might point out that it’s much easier to acquire a portfolio of companies than it is to integrate all that software — and they’d be correct. That said, most would also agree that Intelerad has assembled a uniquely comprehensive enterprise imaging portfolio and it would be extremely well-positioned if/when that portfolio becomes fully integrated.

Get every issue of The Imaging Wire, delivered right to your inbox.

You might also like..

Select All

You're signed up!

It's great to have you as a reader. Check your inbox for a welcome email.

-- The Imaging Wire team

You're all set!