Medical/diagnostic imaging market offerings refer to different
imaging modalities to get visual representations of the interior of body for various
diagnostic and therapeutic ends. Medical imaging is constantly evolving and is
fast transforming clinical and healthcare outcomes; the developments are mainly
driven by innovative technologies such as 3D & 4D imaging, interoperability
among various systems, adoption of big data analytics and some fundamental
shifts experienced by the industry.
Over the past few years, the healthcare industry has markedly
witnessed the shift from a fee-for-service world to value-based care—an
industry shifts from volume to value; this has kept the diagnostic imaging
solutions and radiology continuously evolving. Integrating of various clinical
and imaging data with the help of high-end medical automation technologies
coupled with workflow informatics technologies like big data analytics will
help the patients and payers make the desired shift. The demand for high-end
analytics solutions to not only achieve more effective and efficient
diagnostics, but help improving operational metrics, as well.
Across radiology, medical imaging
professionals deliver more value by reducing length of patient stay, improving
compliance, augmenting revenue, mitigating risks and minimizing medical errors,
along with boosting clinical outcomes and quality. Governments in various
countries have taken active initiative in establishing value-based payment
models and will take some time to attain its full implications in radiology. In
the U.S., value-based payments are mandated by the Medicare Access and CHIP
Reauthorization Act of 2015 (MACRA) by using merit-based incentive payment
systems and alternative payment models.
Emergence of big data analytics to drive advancements in imaging informatics technology
The application of big data analytics by clinicians and healthcare
providers have enabled them to corroborate image findings with patient
outcomes. As, Dr. Eliot Siegel, a researcher in the University of Maryland,
asserts: “Medicine will increasingly go from anecdotal to data-driven using big
data and analytics.” Combined with various machine-learning methods such as artificial
intelligence, big data is expected to constantly transform the approach and
access to reliable and accurate medical image analysis. Advancements in imaging
informatics technology using 3D- ultrasound tool and their integration with
cloud technology have profusely impacted the developments in medical/diagnostic
imaging market. The ground-breaking technology in radiology have attracted
industry stalwarts to take initiatives in various projects and make
considerable investments. Some of the prominent initiatives expected to have
profound impact on the medical imaging market are IBM's Watson Health project
and GE Healthcare's Health Cloud offering, and include Dell Medical's partnership
with Zebra Medical Systems.
Recent Trends & Developments In Imaging Modalities Shape Up Competitive Landscape
Increased adoption of breast cancer screening is a prominent trend gaining traction with radiologists and healthcare providers; especially in the U.S., mammography skeptics have emphasized the harmful effects in terms of screening false positives and downstream tests and the debate have gained momentum. The American College of Obstetricians and Gynecologists (ACOG) have taken initiatives to develop a single set of uniform guidelines for breast screening that will help to bring consensus between the two opposing groups—one, which endorse mammography among younger women and the other, which harp on the negative effects on screening.
These upheavals have led to some notable technology innovations
and will lead to more research on adjunctive screening technologies such as abbreviated
breast MRI protocols and will rev up developments in contrast-enhanced
dual-energy mammography. Tomosynthesis is fast gaining traction among women's
imaging.
Finding ways to improve the accuracy of diagnosis and treatment
through high-end medical imaging technologies will help in better understanding
of chronic diseases such as diabetes and heart disease. Recently, a massive
project—considered as the world's largest medical imaging study will scan
100,000 Britons—was launched in U.K. will help doctors and clinicians in understanding
the effect of environmental parameters, genetics, lifestyle changes and diet
effect on human health; this is being considered as seminal development in
diagnosis of diseases worldwide. Researchers taking part in the project hope to
gain deeper insights into the causes of frailty in old age—how heart and lung
functions and the health of the brain changes over age. The data will be shared
with other scientists across various regions.
Market Growth
Innovative healthcare technologies by vendors focus on automated
patient guidance and engagement solutions which would offer reliable and
accurate medical image analysis. These disruptive technologies shape up the diagnostics,
treatments and delivery of quality care of the future. As per a recent report
by Allied Market Research titled “World Medical/Diagnostic Imaging Market -
Opportunities and Forecasts, 2015 – 2022”, the world medical/diagnostic imaging
market is expected to reach $45 billion by 2022, growing at a CAGR of 5.1%
during the forecast period; the growth is primarily driven by technological
advancements in diagnostic imaging devices, rising incidences of chronic
diseases, application of numerous medical imaging procedures, and growing
concerns for an early diagnosis of various clinical disorders across regions.
