Signify Premium Insights – Medical Imaging: The Top Insights from March 2023
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Written by Alan Stoddart Editor of Signify Premium Insights - Medical Imaging.
March proved to be a busy month for medical imaging. It began with the European Congress of Radiology, the European Society of Radiology’s annual gathering, offering a high-profile launchpad for several new products, as well as giving vendors, providers, and radiologists, as well as Signify Research’s Medical Imaging team; Bhvita Jani, Mustafa Hassan, PhD, Sanjay M. Parekh, PhD, Max Street and Matthew Watson, the chance to meet and discuss plans, partnerships and strategy for the years ahead.
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A Race Winning Workhorse
As highlighted in our Premium Insight detailing the modality offerings on show in Vienna, there were several impressive innovations launched. However, garnering more attention from attendees were the workhorse solutions that can help providers overcome the challenges they face at present. Afterall, a system which can improve imaging efficiency can have a far more significant impact than incrementally improved image quality when provides are swamped in a backlog of procedures and facing staffing issues.
These considerations were also central to the medical imaging IT and AI tools on show at the conference. Many solutions focused on improving providers’ workflows, and effectively managing their workloads. In a similar vein, AI vendors were keen to promote solutions which targeted problems, and offered improvements beyond image analysis itself.
The show also saw vendors announcing partnerships. One such move announced at the event saw Canon Medical Systems Corporation partner with Tribun Health, AI-Powered Pathology. It’s a sound agreement that allows Canon to expand the capability it can offer its enterprise imaging customers, while also highlighting the growing importance and influence of digital pathology on medical imaging, a full SPI analysis Insight article was written on this partnership here.
Winning the West
Given ECR’s modality focus, there were, of course also some product debuts. Among the most significant was United Imaging Healthcare’s release of a five Tesla MRI system. In our assessment of the launch, we lauded the vendor’s technical achievement, but asked whether the vendor had focused on the right priorities, and whether there may have been a better strategy for the Chinese vendor.
Another Chinese vendor showed something new last month, with Mindray launching its first handheld ultrasound system. The launch of a new product into a new market, offered the opportunity for Mindray to show it can innovate, and is ready to stand alongside its western counterparts. How well it achieves this, however, is … nuanced.
In addition to United Imaging and Mindray looking to make headway in the West, March also saw GE HealthCare's announcement that it was continuing its relationship with China’s state-owned healthcare corporation, Sinopharm. The move highlights how important the Chinese market is to large western vendors, but it this opportunity comes with considerable risks.
Vendors were also looking to the future in March. Imaging start-up Lumitron Technologies Inc. gave an update on its yet to be released imaging system. Although the claims made about the device are impressive, as highlighted in our Insight, there is still an awfully long road to tread before radiologists will benefit from the technology.
Retail Therapy
Another company enjoying more immediate success is Walmart, which revealed growth plans for its Walmart Health business. The consumerisation of healthcare, and the transition of medical imaging to non-traditional settings are well established trends, but, that doesn’t mean medical imaging vendors’ strategies for capitalising on this market are obvious.
AI vendors are also facing difficult strategic choices. There are now around 30 AI orchestration platforms available, all of which aim to solve the last-mile challenges developers face in delivering their algorithms into hospital workflows. Our analysis of this complex market highlights some of the strategic pitfalls that vendors risk falling into.
About Signify Premium Insights – Medical Imaging
A subscription to Signify Premium Insights - Medical Imaging provides compelling thought leadership on the most pertinent developments in healthcare technology. This service utilises Signify Research’s expansive market data to properly appraise and interpret breaking news stories, major market moves and industry-changing announcements are evaluated as they unfold, and the considered opinions of Signify Research’s expert analysts are shared to provide Insight into current developments. Key vendors, technologies and conferences are followed, with updates carefully scrutinised to ensure that the most important details are revealed and properly assessed.?Subscription provides approximately 100 actionable and up to the moment Premium Insights per year as well as access to Signify’s Insight archive.
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About Alan Stoddart
Alan brings nine years of editorial expertise and leads on the Signify Research’s Insight and analysis services. Prior to joining, Alan held editorial positions covering a diverse range of technology and engineering/IT topics working with Kantar Media and Kimberley Media Group.
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, Managing Director and Principal Analyst
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, 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?
Bhvita Jani, Research Manager
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.
Sanjay M. Parekh, PhD, Senior Market Analyst
Sanjay joined Signify Research in 2019 after two years of post-doctoral experience using big data in healthcare. Prior to that, he received his PhD from the University of Nottingham. Sanjay covers our Machine Learning in Medical Imaging report and service for Signify Research.
Amy Thompson, Senior Market Analyst
Amy 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.
Mustafa Hassan, PhD, 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.
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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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