“As the medical imaging and computing industry evolves rapidly, there are opportunities for vendors to grow through inorganic pathways and expand their portfolio of artificial intelligence (AI) offerings. With some AI programs reimbursed, strong business cases with a proven return on investment (ROI) will emerge from the industry, ”said Imran Khan, Senior Analyst, Health & Life Sciences at Frost & Sullivan. “The deployment of AI in the industry has had commendable success in developed countries such as North America and Western Europe, primarily due to national policies and reimbursement guidelines.”
Khan added: “Following the pandemic, the focus on efficiency and productivity will reach new heights in the short to medium term. Computational imaging consolidation is essential to achieve these efficiencies. Additionally, national health policy reforms, changing reimbursement landscape and budget constraints will help drive the gradual shift to non-CAPEX business models for multiple health care providers. Rapid changes in technology and a greater vendor focus on precision diagnostics and treatment will require continuous renewal of imaging equipment.
With advancements in AI and the cloud, the medical imaging and IT industry is undergoing rapid transformation, creating growth opportunities for its market players, including:
Focus on Cloud-Based Imaging Computing: Vendors can sign business associate agreements with cloud service providers to take responsibility for data breaches. Long Term Enterprise Level Partnerships: By leveraging technology, the proposition can be unique by committing to equipment availability and mean time between failures. AI Imaging to Optimize Workflow and Improve Clinical Outcomes: Addressing issues throughout the imaging workflow, such as missed appointments and inappropriate exams, can create a comprehensive portfolio of AI for providers. Inorganic growth is emerging as a preferred route: With growth stagnating in the traditional imaging and computing segments, vendors operating in these segments are constantly looking to accelerate their revenue growth by entering adjacent areas.
Global Medical Imaging & Informatics Outlook, 2021 is the latest addition to Frost & Sullivan’s healthcare research and analysis available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous stream of growth to be successful in an unpredictable future.
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Global Medical Imaging and Computing Outlook, 2021
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