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Imaging IT market entering an atypical growth period

May 23, 2022
Health IT X-Ray

In addition to the market drive toward consolidation and interoperability, alongside the emerging growth in outpatient imaging centres, imaging IT vendors cannot lose sight of the renewal cycle expected imminently in mature markets. To capitalise on new deals, it will be crucial for vendors to evaluate broader platform strategies and how they plan to address the long-term drive toward a rounded multi-ology enterprise imaging portfolio, including competencies for AI integration, cloud native architecture and functionality to support operational efficiency and productivity.

When selecting an imaging IT vendor, providers are looking for a partnership, a company that aligns to their goals and has a roadmap for development to address any current portfolio gaps. It’s understood by providers that a consolidated EI platform takes time and money to develop — the necessity for imaging IT vendors is conveying ambitions to prospective customers and clarity over time scales and expected future costs.

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The opportunity is now
The mature markets of imaging IT are saturated and cost-competitive, offering limited opportunity for organic growth from the core platforms. However, with funding injected to aid recovery from the pandemic, digitalise healthcare and reduce pent-up demand, the market is entering an unprecedented opportunity for growth.

To take advantage of the short-term opportunity, vendors must look ahead. Evaluating how to evolve current solutions to meet the needs of the market, which will require priority placed upon interoperability, collaboration and productivity. Providers are no longer wanting to rip and replace imaging IT software unless absolutely necessary.

Success will be determined, not only by the vendors portfolio today, but their aspirations and roadmap to acquire, partner or build the solution for the future.

About the author: Amy Thompson is a senior market analyst at Signify Research. She joined Signify in 2020 as part of the Healthcare IT team, focusing on imaging and clinical IT. Prior to that, she brings four years’ experience as a research analyst; supporting business strategy and market sizing for Liaison Group, a company operating within the NHS.

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