Where we are now
Market position
The company commands a market-leading position in the Netherlands, Norway, Portugal and Sweden, and a prominent position in the UK. Sectra is also the market leader in other countries in the niche of breast image management. In some countries, Sectra commands such a large market share that its growth in certain product segments is limited. However, this is not the case in the US, where the company holds a relatively small market share. A focus on high customer satisfaction has resulted in several important healthcare providers choosing Sectra’s solutions, and the US customer base is growing. In recent years, the operating area has also opened offices in two new countries: France and Canada. These establishments are important from a long-term growth perspective.
The operating area has held a strong position in IT systems for managing radiology images for many years, and for six consecutive years Sectra has won the industry’s most prestigious award for its outstanding customer satisfaction in this product segment. Its customers include some of the largest healthcare providers in the world.
To enable healthcare providers to provide better, faster and more patient-centered care, Sectra offers systems and services for the management and archiving of all types of medical images, including non-radiology images. With components built on the same technical platform, customers can easily adapt and expand a departmental solution to create a multimedia archive (VNA) that supports all image management. As more existing customers have taken the opportunity to expand their systems to include other areas beyond radiology, Sectra has strengthened its position as an enterprise imaging IT provider.
Cloud-based services on the rise
Demand for IT solutions as cloud services continues to increase. For customers, this delivery model entails cost advantages and enables them to devote greater focus to their core business: delivering quick and efficient care. Sectra offers cloud services not only for archiving solutions, but also IT systems for reviewing and communicating medical images. The service offering is on the cutting edge, and numerous customers —in Sweden and the UK, for example—are already operating with cloud services from Sectra. While cloud services will ultimately generate major cost and operational benefits for Sectra, they initially entail cost increases since they require investments in hardware and development.
Focus on cancer diagnostics
Medical image management in cancer diagnostics is a key part of the operating area’s strategy for the future. Most users are currently active in the fields of radiology and mammography. The use of medical images in other areas, such as pathology, is growing, partly as a result of more customers implementing systems for consolidated image management. Sectra’s IT solutions facilitate integrated diagnostics by allowing images and information from various diagnostic specialties to be archived and viewed in a single system. This enables collaboration between, for example, radiologists and pathologists, who play a key role in efficient cancer care. With a growing number of customers having already digitized their pathology departments, Sectra has built a strong brand despite the fact that the market has yet to gain momentum.
How Sectra contribute to improved diagnosis and care for cancer patients (pdf):
The way forward
Focus on offering stable, efficient and future-proof solutions for managing and communicating all types of medical images.
Opportunities
- Grow in the area of medical diagnostic imaging.
- Strengthen the product offering in cancer diagnostics. Primarily within pathology and radiology, but also other types of image-intensive operations in which cancer diagnosis, integration and workflow play an important role.
- Offer new, more efficient decision support for physicians and healthcare personnel based on technology such as artificial intelligence and machine learning.
- Generate additional sales to the existing customer base, as Sectra has done for many years in its domestic market in Scandinavia.
- Strengthen the company’s position in the product segment for archiving solutions (VNA) for all types of medical images.
- Offer solutions as cloud services, since these solutions offer major cost and operational benefits for both customers and suppliers.
Risks
- Not being able to maintain the pace of innovation or leadership in today’s rapid technological development.
- New types of competitors, such as major IT companies specializing in archiving, attempting to expand into image management.
- The price trend.
- Political decisions that impact healthcare reimbursement systems or levels.
For information on operating risks, refer to Sectra’s Annual Report.
