News | Information Technology | June 29, 2015

U.S. Medical Imaging Industry Leaps Firmly into the Big Data Realm

Frost & Sullivan expects standardization of practices, convergence of data management and analytics to spur further growth

Frost & Sullivan, big data, analytics, management, U.S. medical imaging industry

June 29, 2015 - The U.S. medical imaging industry is experimenting with big data analytics solutions to measure, demonstrate and improve its value proposition. Analysis from Frost & Sullivan, "Big Data Opportunities in the US Medical Imaging Market", finds the market earned revenues of $39 million in 2014, and estimates this to reach $82 million by 2019 at a compound annual growth rate of 16 percent.

Conventional tools are incapable of efficiently managing such large and complex datasets; posing limits on scalability, sustainability and usability. As the U.S. medical imaging field evolves from being not only data-intensive but also data-driven, big data tools are expected to better handle medical imaging and patient records, and improve workflow efficiency, diagnostic accuracy, treatment decisions and health management.

The next frontier will enhance data interoperability and data liquidity in order to translate static data into a dynamic database that gains actionable analytics and delivers care more efficiently.

"While current big data analytics applications for medical imaging are limited to descriptive analytics, such as operational performance monitoring, there are clear signs of the advent of advanced comparative benchmarking and predictive capabilities," said Frost & Sullivan Connected Health Industry Manager Natasha Gulati. "Imaging data management will also be a major area for investment as vendors design enterprise-wide solutions that allow a comprehensive view of all the data available to an organization."

Currently, there is no clear-cut definition for the right set of big-data analytic solutions in the marketplace. Healthcare providers generally begin their big data journey with a goal or a particular use case in mind. Expanding the analytic solution in scope and functionality will be needed as both vendor and customer move along the learning curve.

The market is currently fragmented with disparate large-scale projects. Nevertheless, the standardization of best practices will gather momentum in the next few years, strengthening the functional framework.

"The future lies in the convergence of big data management and big data analytics," said Frost & Sullivan Advanced Medical Technology Health Principal Analyst Nadim Daher. "As the techniques for big data management, analytics in healthcare and medical imaging mature, their integration will spur a wave of partnerships and collaborations among different types of imaging IT vendors. This will pave the way for holistic solutions in the U.S. market."

For more information: www.frost.com

Related Content

Mednax, a leading health solutions partner specializing in prenatal, neonatal, pediatric and radiology services, announced a number of steps it is taking as part of its aggressive transformational activity to position the company for long-term, sustainable growth
News | Radiology Business | June 05, 2020
June 5, 2020 — Mednax, a leading health solutions partner specializing in prenatal, neonatal, pediatric and radiology
Although it is likely that existing ultrasound systems will be repurposed to treat COVID-19 patients, growth is still expected as companies plan to ramp up production. The ultrasound systems market will therefore outpace other diagnostic imaging such as computed tomography (CT) and magnetic resonance imaging (MRI). Leading data and analytics company GlobalData forecasts the market will reach $6bn by 2028, but increased usage due to COVID-19 is anticipated have a tangible effect.
News | Ultrasound Imaging | June 05, 2020
June 5, 2020 — Although it is likely that existing...
Vacancy rates for radiation therapists rose substantially since 2018, according to a survey performed this year by the American Society of Radiologic Technologists. Researchers noted, however, the survey data was collected before the COVID-19 pandemic began affecting the surveyed clinical settings.

Getty Images

News | Radiation Therapy | June 05, 2020
June 5, 2020 — Vacancy rates for radiation therapists rose substantially since 2018, according to a survey performed
Stephen M. Hahn, M.D., Commissioner of Food and Drugs - Food and Drug Administration, discussed The COVID-19 Pandemic — Finding Solutions, Applying Lessons Learned, on June 1

Stephen M. Hahn, M.D., Commissioner of Food and Drugs - Food and Drug Administration

News | Coronavirus (COVID-19) | June 05, 2020
June 5, 2020 — The following speech was delivere
Developed by medical AI company Lunit, Software detects breast cancer with 97% accuracy; Study in Lancet Digital Health shows that Lunit INSIGHT MMG-aided radiologists showed an increase in sensitivity

Lunit INSIGHT MMG

News | Artificial Intelligence | June 02, 2020
June 2, 2020 — Lunit announced that its artificia...
AIR Recon DL delivers shorter scans and better image quality (Photo: Business Wire)

AIR Recon DL delivers shorter scans and better image quality (Photo: Business Wire).

News | Artificial Intelligence | May 29, 2020
May 29, 2020 — GE Healthcare announced U.S.
The paradox is that COVID-19 has manifested the critical need for exactly what the rules require: advancement of interoperability and digital online access to clinical data and imaging, at scale, for care coordination and infection control.

The paradox is that COVID-19 has manifested the critical need for exactly what the rules require: advancement of interoperability and digital online access to clinical data and imaging, at scale, for care coordination and infection control. Getty Images

Feature | Coronavirus (COVID-19) | May 28, 2020 | By Matthew A. Michela
One year after being proposed, federal rules to advance interoperability in healthcare and create easier access for p
The opportunity to converge the silos of data into a cross-functional analysis can provide immense value during the COVID-19 outbreak and in the future

Getty Images

Feature | Coronavirus (COVID-19) | May 28, 2020 | By Jeff Vachon
In the midst of the coronavirus pandemic normal