Signify Premium Insights - Medical Imaging: Round-Up from August 2024
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Written by Phil Grainger | Editor of Signify Premium Insights – Medical Imaging.
This article provides several links to our Signify Premium Insights, evaluating recent mergers and news events. To access these articles, you will need a subscription or simply request 30 days of unlimited access below.
August is peak summer holiday season in many regions, and many vendors are reserving their most impactful announcements for the upcoming RNSA 2024. As such, it can be something of a slow news month in medical imaging. Nonetheless, the Signify Premium Insights – Medical Imaging team covered some big stories this month, including a major regulatory development in AI and a proposed change to CMS policy with potentially significant ramifications for colon cancer screening.
The Centers for Medicare & Medicaid Services (CMS) released its 2025 Hospital Outpatient Prospective Payment System (OPPS) proposed rule in July, which included the proposal to pay for CT-based colon cancer screening. Our Insight examines the controversy surrounding the proposed change, and the potential commercial impact for modality and AI vendors.
The EU AI Act, the first comprehensive regulation on AI by a major regulator, came into force at the beginning of August. Our Insight discusses the burden it places on healthcare providers, their inevitable expectation for greater support for AI vendors to meet these requirements, and the wider implications for the European AI market.
Sticking with AI, our Insight covering GE医疗 ’s acquisition of Intelligent Ultrasound’s clinical AI software business considers the challenges facing many AI vendors in terms of generating revenue, the changing dynamics and anticipated trajectories as consolidation continues, and what the deal says about GE HealthCare’s ultrasound strategy following its recent leadership and structural changes.
Our third AI focused Insight in August takes a look at Subtle Medical 's SubtleSYNTH software solution, which uses deep learning to generate synthetic STIR images from already-acquired T1 and T2 weighted contrasts. The solution’s recent FDA clearance highlights a growing trend towards the use of AI to increase operational efficiency and decrease scan times.
Faster scan times are a key differentiator for Q Bio , which recently secured $27M in funding to bring its full-body MRI scanner to market. There is considerable investor appetite for companies in this space, with rivals Prenuvo , Ezra Health and Neko Health also benefiting from substantial funding. Our Insight outlines the challenges facing Q Bio in carving a space in this small but relatively crowded market, and the opportunities if its technology lives up to its promises.
Nanox Vision is certainly no stranger to the pitfalls of overpromising and underdelivering, and its recent partnership with Swissray US is its latest attempt to make its ambitious goal of 15,000 system installations by 2026 a reality. Our Insight discusses the company’s strategy, the obstacles it faces in reaching its goal, and the difficult decisions it may have to make if its fortunes do not change soon.
We round the month out with a trio of Ask the Analyst Insights, with authors of Signify Research reports offering their takes on various markets. In the first such Insight, Max Street outlines the economic factors that are influencing providers’ purchasing habits in the general radiography & fluoroscopy market, and key trends including the growing threat from emerging vendors, the increasing focus on sustainability, and the need to maintain brand reputation.
In the next Ask the Analyst Insight, Bhvita Jani provides her view on the MRI market. The market experienced a correction in 2024 after the strong growth seen in 2022 and 2023, and it is set for a slower period ahead. However, there are still considerable opportunities for growth as the use cases and settings for MRI expand.
Finally, Mustafa Hassan, PhD , shares his thoughts on the ultrasound market. The market has been heavily affected by macroeconomic factors, and healthcare providers are increasingly price conscious. As a result, many ultrasound vendors are feeling the squeeze, particularly those focused on the handheld segment. However, as discussed in the Insight, there is still cause for optimism and the market is poised for more dynamic activity and innovation in the coming years.
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About Phil Grainger
Phil joined Signify Research in 2023 as Editor for the Signify Premium Insights – Medical Imaging service. He has over 15 years’ experience in editorial and related roles, with a focus on corporate law and finance.
About the Signify Premium Insights Contributing Analysts
Signify Premium Insights rely heavily on the industry expertise from Signify Research’s expert medical imaging analyst team. This team brings with it many years of experience developing market reports, insights and providing consultancy services to the medical imaging industry.
Simon Harris | Chairman and Founder
Simon has 26 years of experience in technology market intelligence, having served as Executive Vice President at IMS Research and Senior Research Director for IHS Inc.’s Technology division. Simon has authored market reports on ultrasound equipment and machine learning in medical imaging.
Steve Holloway | Managing Director and Principal Analyst
Steve has 12 years of experience in healthcare technology market intelligence, having served as Senior Analyst at InMedica. Steve leads our Imaging IT division & has authored reports on imaging IT & archiving & management IT, AV and viewing IT, imaging workflow & operation IT & radiation dose?Management.
Kelly Patrick | Research Director
Kelly joined Signify Research in 2020 as a Principal Analyst. She brings with her 12 years’ experience covering a range of healthcare technology research. Prior to joining Signify Research she was the manager of the Healthcare Technology team at Omdia (previously known as the Healthcare Technology team at IHS Markit/InMedica). Kelly is now a research Director leading the management of the research teams within the Clinical Care and Medical Imaging groups. Kelly’s core research focus has been on the clinical care space, including patient monitoring, anaesthesia, sleep & respiratory care, and infusion. Kelly has been the lead on several large custom and consulting projects, specialising on in-depth analysis across the clinical care and wider healthcare technology space. Prior to entering the market research industry, Kelly also gained experience in consulting projects on pricing and reimbursement for pharmaceuticals and was a research analyst for a large research contractor, specialising in immunoassay techniques.
Bhvita Jani | Principal Analyst
Bhvita joined Signify Research in 2020 as part of the Medical Imaging Team focusing on the X-ray market. She brings with her 3 years’ experience covering X-ray, MRI and CT research at IHS Markit. Bhvita also has three years’ experience in digital and offline marketing.
Amy Thompson | Research Manager
Amy joined Signify Research in 2020, and is now the Research Manager for Healthcare IT, focusing on imaging and clinical IT, AI in medical imaging and teleradiology. Prior to Signify Research, she brings four years’ experience as a Senior Analyst; supporting business strategy and market sizing for Liaison Group, a company operating within the NHS.
Mustafa Hassan, PhD | Senior Market Analyst
Mustafa joined Signify Research in 2020 as part of the Medical Imaging team which covers areas such as ultrasound, general radiography and machine learning in medical imaging. Prior to that he obtained a PhD in Pharmacy and Physiology from the University of Kent.
About Signify Research
Signify Research provides healthtech market intelligence powered by data that you can trust. We blend insights collected from in-depth interviews with technology vendors and healthcare professionals with sales data reported to us by leading vendors to provide a complete and balanced view of the market trends. Our coverage areas are Medical Imaging, Clinical Care, Digital Health, Diagnostic and Lifesciences and Healthcare IT.
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