According to Frost & Sullivan, medical imaging has become the bellwether for the application of artificial intelligence (AI) technologies, especially deep learning techniques in the healthcare space. Example, over 90 companies are at various stages of development and commercialization of AI-based solutions for the medical imaging industry. This number continues to grow as startups emerge, the incumbents develop native AI solutions, and technology companies move into the field. With many countries edging past the innovator adoption phase and into the early adopter one, the stakeholders should now focus on refining and testing their value proposition, partnership approach, and go-to-market strategies.
Frost & Sullivan’s recent analysis, Artificial Intelligence for Medical Image Analysis—Companies-to-Action, 2018, examines the regional differences, regulatory developments, growth opportunities, funding investments, imaging modalities, clinical specialties, organs and disease states targeted by AI solutions, plus the top 10 predictions for the future of this industry. It also highlights the use cases that will take off in the market and the key companies that will disrupt traditional medical image analysis workflows.
These advances in AI for medical imaging are evident across the globe, but each country has a different incentive and vision. Some developed countries such as the United States require higher productivity and standardization. However, other countries such as the United Kingdom need to address shortages and higher wait times, and the developing ones such as China may need it to build access and expertise to improve diagnosis rates.
Growth opportunities include:
- Acceleration, automation and augmentation of medical image analysis;
- Cloud-based, on-demand access through medical imaging AI marketplaces;
- Cognitive applications to orchestrate and optimize the medical imaging workflow; and
- The advent of intelligent medical imaging machines with embedded AI.
The regulatory agencies are granting approvals for AI-based solutions and opening doors for commercialization, allowing for the billions of dollars invested in the development of these technologies to see some return on investment (ROI) in the coming years. For more insights, visit Frost & Sullivan’s global Advanced Medical Technologies Growth Partnership Service program.