us medical imaging industry leaps firmly into the big data realm
TRANSCRIPT
Research PREVIEW forBig Data Opportunities in the US Medical Imaging
Market
US Medical Imaging Industry Leaps Firmly into the Big Data Realm
Key Findings
Source: Frost & Sullivan
Big Data in Medical Imaging
Big Data Management
Opportunity Growth = 12.5%
(2014–2019 CAGR)
Big Data Analytics
Opportunity Growth = 21.5%
(2014–2019 CAGR)
How can we use it?Leveraging Big Data in medical imaging requires a radically different approach than the conventional way of handling data, which relies on single, monolithic data archives. Often static and rigid, these conventional archives pose limits on scalability and sustainability as well as on usability.
Semantic technologies and a service-oriented architecture providing broker services for real-time, on-demand data access coupled with solid security services, are seen as the model of choice and the key for unlocking the potential of medical imaging Big Data.
What is Big Data in medical imaging?
Big Data in medical imaging refers to those datasets, including medical images and related datasets, that are in the order of petabytes (1,000 terabytes or one million gigabytes) and are accessible to or managed by a single institution or governing entity. For the purpose of this research, the market opportunity for Big Data in medical imaging has been segmented into Big Data Management and Big Data Analytics.
What are the key growth drivers?• Rising volumes of medical image datasets and accelerating
trends towards provider consolidation and interconnectivity, leading to more archives falling into the realm of Big Data
• Push for healthcare information technology (IT) interoperability and business intelligence in healthcare
• Application of various enabling technologies that improve collection and dissemination of data to medical imaging
Key Market Opportunities
Medical Imaging Big Data ManagementTechnologies that enable the aggregation of datasets into single points of access, such as enterprise archives and repositories that include, without necessarily being limited to, medical image data
Medical Imaging Big Data AnalyticsLarge datasets that offer a single point of access through a single database and constitute the main opportunity to interrogate and analyze medical image Big Data for clinical, operational, and financial purposes
Key Findings (continued)
Source: Frost & Sullivan
Target Market Segments Potential Business and Service Models
PatientsUltimate data
owners
Clinical Imaging Service Providers
Key data generators and
consumers
Contribute to increasing data volume through• Higher volumes of imaging
procedures• Higher utilization of advanced
imaging techniques• Higher rates of affiliations and
data centralization amongst multiple providers
Traditional Models
• On-premise solutions
• Purchased through capital expenditure (CapEx)
• Owned by the provider
Emerging Models
• Data center based solutions
• Purchased through operational expenditure (OpEx)
• Hosted and leased solutions
Vendors are driving business model evolution by redefining the unit of value, which shows how healthcare is becoming increasingly data-driven.
CEO’s Perspective
2Data-intensive and largely digitized, medical imaging Big Data opens up a highly strategic growth area in imaging informatics.
3Medical imaging Big Data management needs to address the large volume, but also the variety, velocity, veracity, and the value of the data.
4 Included in full research access.
1Medical imaging is proving to be an important testing ground for vendors eyeing Big Data market opportunities in healthcare.
Source: Frost & Sullivan
Executive Summary—3 Big Predictions
Source: Frost & Sullivan
2While the market is currently fragmented consisting of disparate large-scale projects, best practices for Big Data management and analytics will begin to standardize and drill down into the broader medical imaging IT management market.
3As the techniques for Big Data management and Big Data analytics in healthcare and medical imaging mature, the current synergies will accelerate eventually leading to a convergence of the two market opportunities.
1As the consolidation of hospitals, the formation of accountable care organizations (ACO), and the acceleration of image exchange networks continue, more medical imaging datasets will start falling under the realm of Big Data.
Scope and Segmentation
• This study covers the US market for medical imaging Big Data management and medical imaging Big Data analytics solutions pertaining to large datasets that are in the order of petabytes.
• This market opportunity is a subset of medical imaging data management and analytics, which pertain to datasets of any size.
• Single vendor contracts for data management or analytics may involve multiple individual facilities, but will be counted as a single unit contract.
• Research includes in-depth analysis of emerging technologies, business and service models, and profiles of leading market vendors including Dell, EMC Corporation, GE Healthcare, IBM, McKesson Corporation, Perceptive Software, Philips Healthcare, and Siemens along with relevant mentions of other market participants.
Source: Frost & Sullivan
Geographic coverage United States
Study period 2014–2019
Base year 2014
Forecast period 2015–2019
Monetary unit US Dollars
Conversion rate €0.89 = $1.00
The Full Analysis Features the Following Content
Section Slide Number
Executive Summary 4
Perspectives on the Global Big Data Market 11
Big Data in Medical Imaging Market 20
Big Data in Medical Imaging Market—Revenue Forecast 34
Market Opportunities in Medical Imaging Big Data Management—Breakdown 38
Market Opportunities in Medical Imaging Big Data Analytics—Breakdown 46
Competitive Playbook and Key Companies to Watch 64
The Last Word 93
Appendix 96
Key Questions This Study Will Answer
Source: Frost & Sullivan
What is the context in which the market opportunities for Big Data management and Big Data analytics are arising in medical imaging?
How does medical imaging data fall under the Big Data umbrella, and how does the Big Data concept fit in the medical imaging informatics ecosystem?
What type of growth can be expected in the application areas of clinical, operational, and financial medical imaging analytics over the short and the long term?
What types of strategies are various information technology and medical imaging vendors implementing in addressing Big Data market opportunities?
How are Big Data market opportunities in medical imaging defined across various segments and sub-segments?
Interested in Full Access? Connect With Us
Kayla Belcher Corporate Communications – North America
210.247.2450
Research Authors
Daniel RupparGlobal Research
DirectorHealthcare
Nadim DaherPrincipal Analyst
Healthcare
Natasha GulatiIndustry Manager
Healthcare
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