The global medical imaging and informatics market is experiencing significant changes with the emergence of advanced technologies, the changing consumer landscape and priorities, consolidation among radiology practices, mergers and acquisitions, portability, regulatory and reimbursement changes, smart manufacturing, local and global manufacturing, evolving clinical and administrative needs, and effective supply chain strategies, which are pushing market participants to explore options to maintain their competitive edge. Technologies such as artificial intelligence (AI) and cloud-based platforms are creating opportunities that did not exist a few years ago. Institutions across the world are recovering from the COVID-19 pandemic, which has exacerbated the already overstretched financial resources and, consequently, prompted a drastic change in enterprises' mode of engagement with vendors. With the entry of many start-ups in both imaging and informatics, the competition is expected to intensify to such an extent that many market leaders will compete to establish strategic partnerships or acquisitions with small start-ups to expand their product/solution portfolios.
Efficiency and productivity continue to be the focus areas for both hospitals and vendors in 2022. As the medical imaging industry evolves rapidly, opportunities will open up for vendors to grow through inorganic routes/partnerships and widen their portfolio of product offerings.
This study analyzes the global medical imaging and informatics market and predicts its evolution. Highlights include the key challenges that imaging departments across the world are facing and the market response to these concerns. Cost reduction, clinical outcomes, workforce burnout, workflow efficiency, patient experience, and reimbursement are the priorities for provider stakeholders. These priorities may vary in strength, depending on region or provider profile, but they are the most common across institutions, especially in the public sector. Business models such as innovative pricing, equipment financing/leasing, and the hybrid/expanded use of a product for multiple clinical applications will boost product adoption in the global hospital industry.