February 18, 2019 - The precision medical imaging market is forecast by Frost & Sullivan to grow from $120 million in 2017 to over $8 billion by 2027.
Technology advances such as clinical decision support software, sensors, 3D printing, deep learning, and artificial intelligence (AI) will be applied to medical imaging, predicted Frost & Sullivan.
"Precision medical imaging has tremendous potential to improve all aspects of the care continuum, thus supporting emerging care approaches that are more targeted, predictive, translational, personalized and effective," said Frost & Sullivan VP of Transformational Health Research Siddharth Saha.
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"AI-enriched imaging equipment will help adapt and personalize the imaging protocols and procedures while precise radiomic and phenomic datasets from the given clinical context will enable deep learning, thereby reinforcing medical imaging's contribution to precision medicine. There are several firms in the ecosystem making very valuable contributions to the care pathways, and this pool is set to exponentially grow in the short term," Saha commented.
Growth opportunities in precision medical imaging include:
Evidence-based study ordering, which can tie imaging activity to specific patient needs through more efficient models
Advanced imaging techniques and personalized image acquisition protocols
Adaptive, anatomical, and applied machine intelligence
Precision reporting with correlated study interpretation
Quantitative imaging and radiomics
Image-based, 3D-printed implants and anatomical guides
Real-time, image-guided interventions
Precise oncologic radiation dose therapy
Molecular imaging of theranostic radiotracers
Imaging study value, quality, and outcomes analytics
Operational and financial analytics are evolving beyond tracking basic key performance indicators related to imaging to cover complete business intelligence platforms, Frost & Sullivan observed.
"While most major imaging companies are keen to make the most of the opportunities in precision imaging, they are at various levels of adoption. For instance, Siemens Healthineers has fully embraced the precision trend since it offers multi-pronged value through its solutions portfolio," noted Saha.
"At Philips Healthcare, a few precision hot spots have been forming, notably in image-guided therapies and oncology informatics. GE Healthcare, on the other hand, is looking to combine the precision paradigm with Applied Intelligence," he added.
