The connected imaging equipment market is expected to expand at a compound annual growth rate of 17% through 2020, according to a new report from ABI Research. The market base, consisting of magnetic resonance imaging (MRI), computed tomography (CT), and x-ray machines, is benefiting from increased connectivity, leading to decreased costs while upping revenue streams.
“Connecting imaging equipment is not new, but what is new is increased demand on the imaging equipment install base and the realization that services on top of the connectivity can both improve equipment return on investment and competitiveness for imaging equipment stakeholders including hospitals, original equipment manufacturers, and service providers,” said Ryan Harbison, an ABI Research analyst.
In addition to the spread of connectivity, the market growth is being driven by the Internet of Things (IoT). This technology trend enables transfer of data over a network while bypassing human-to-human and human-to-computer interaction. Manufacturers have already leveraged IoT platforms to improve equipment connectivity and applications. In the future, the trend could improve maintenance services, lead to new product development, and improve equipment uptime.
“Today, the top MRI manufacturers offer some variation in IoT-type services, including remote monitoring, predictive maintenance, and remote diagnostics,” said Dan Shey, ABI Research practice director. “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.”