Driven by Increased Demands on Healthcare Suppliers, Connected Medical Imaging Equipment to Grow at a 17% CAGR

Driven by Increased Demands on Healthcare Suppliers, Connected Medical Imaging Equipment to Grow at a 17% CAGR

According to recent analysis from ABI Research, the install base of the connected medical imaging equipment market consisting primarily of magnetic resonance imaging (MRI) machines, computed tomography (CT) scanners, and X-ray machines is set to grow at a 17% CAGR between 2014 and 2020.

Worldwide, the operating economics of imaging equipment are being challenged by increased government regulations, more demand from aging populations, and imaging center consolidation. Connectivity is not only reducing imaging equipment operational costs, but also offering equipment manufacturers, service providers, and hospitals new revenue streams.

ABI Research Analyst Ryan Harbison, comments:

“Connecting imaging equipment is not new, but what is new are the increased demands on the imaging equipment install base and the realization that services on top of the connectivity can both improve equipment ROI and competitiveness for imaging equipment stakeholders including hospitals, OEMs, and service providers.”

Growth in the connected medical imaging equipment market will be driven not just by connectivity, but by Internet of Things (IoT) technologies and services. Already OEMs have used IoT platforms to scale their machine connectivity and application enablement efforts. Advancements in data and analytics services for predictive maintenance services are expected to provide further opportunities for OEMs for both new product development and improved equipment uptime.

Practice Director Dan Shey adds:
“Today, the top MRI manufacturers offer some variation in IoT-type services including remote monitoring, predictive maintenance, and remote diagnostics. GE offers its InSite service platform; Siemens provides Siemens Remote Services; and Philips has its Philips Remote Services. These services and platforms not only create stickiness with customers and service organizations, they can also be leveraged to expand into new equipment maintenance and healthcare support services.”

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