July 26, 2021 — The global medical imaging and informatics market is experiencing dynamic changes with the emergence of advanced technologies, evolving clinical and administrative needs, and the introduction of new policies and regulations, which is forcing industry participants to innovate to maintain their competitive edge. Technologies such as artificial intelligence (AI) and the cloud are creating opportunities that did not exist a few years ago.
The COVID-19 pandemic is exacerbating already overstretched financial resources at healthcare institutions and consequently prompting a drastic change in their mode of engagement with vendors. With the entry of start-ups, competition in imaging informatics is set to intensify to such an extent that many industry leaders are competing to establish strategic partnerships with small start-ups to expand their solution portfolios.
This study analyzes the global medical imaging and informatics market and predicts its evolution within the next year and beyond. Highlights include key issues that imaging departments across the globe are facing and how the market is responding to address these concerns. The priorities for medical imaging in 2021 and beyond are illustrated using the Quadruple Aim. Cost reduction, clinical outcomes, and staff and patient experience are considered the main priorities for provider stakeholders. These priorities may vary in strength, depending on the region or provider's profile, but they are the most common across institutions.
The COVID-19 pandemic has changed some of the basic ways of operating in the imaging market. With trade shows cancelled and on-site demonstrations not happening, key decision-makers are postponing purchases in some of the biggest markets.
The following 3 conclusions define the medical imaging and informatics market:
- Efficiency and productivity are key focus areas for both hospitals and vendors in 2021.
- ROI calculations will undergo increased scrutiny across the globe.
- To address new challenges, the industry is innovating at a faster than ever before pace on both the technology and business model front.
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