Should medical imaging solutions build or partner or acquire AI platforms

March 2024 – Written by Ellie Baker– Featured in Circle Square

State of the medical imaging AI market

Vendor sentiment is up. Imaging IT vendor sentiment in the overall AI market for the next 12-months has jumped 11% to 7.9 on a
10-point scale.

Consolidation to increase. It is expected that market consolidation is going to increase throughout 2024. AI vendors who have received modest funding ($10-50m) and have received regulatory
clearance present as viable acquisition targets for prospective vendors, including imaging IT vendors.

AI platforms with momentum. This is evident by the number of AI applications included on AI platforms has increased by 33% over 2023. Seven of the top 10 global imaging IT vendors have AI
orchestration platform capability, either through partners or native development.

Four apps dominate. Standalone AI spending is dominated by four clinical applications, cardiology, breast, neurology, and pulmonology. A trend forecast to continue over the forecast period to 2027, whereby the
four clinical applications will represent 85% of the $1.7bn market.

Editorial: Ellie Baker, market analyst at Signify Research, reports that medical imaging AI is increasingly included within radiology IT requests for proposals, with imaging IT vendors needing to address how the
integration of AI image analysis tools into the workflow will be achieved. Signify Research cautions that an imaging IT vendor AI strategy is not straightforward, with competing R&D priorities such as enterprise
imaging, structured reporting and cloud computing requiring investment, as well as a 200+ ecosystem of AI vendors to navigate.

Source: Signify Research