Broad Solutions & Platforms to lead Radiology AI Development

11th April 2023 – Sanjay Parekh – Featured in DI Europe Spring 2023

Platforms that host various AI applications and solutions focusing on a whole range of diseases offer much promise for medical imaging AI, according to Dr. Sanjay M Parekh, Senior Market Analyst at Signify Research, who shared his insights and forecasts for the booming market.

What are the current trends on the medical imaging AI market?
The market is still nascent, but it’s growing fast with many developments. Radiologists better understand the technology and the potential it offers, and as such are becoming more discerning when considering AI. The question has shifted from “do I need AI” to “how is AI going to benefit me?” Vendors are responding, and this is reflected in the product developments and broader strategies. It’s not just about offering an algorithm, but rather delivering an AI solution that offers greater value to the end user. For lung cancer, for example, having an algorithm that detected nodules was enough to garner attention several years ago. Now, vendors need to offer a more complete AI solution, which in addition to detection also measures the nodule size and volume, as well as provides characteristics of the nodule, such as the risk of it being malignant, to improve a patient’s prognosis. Such solutions offer greater value to a clinician than detection alone and are therefore more likely to be considered for purchase.