The market for big-data analysis tools in medical imaging produced $39 million in revenues in 2014 and is expected to grow at a compound annual growth rate of 16% to reach $82 million by 2019, according to a report from market research firm Frost & Sullivan.
The growth will be driven by next-generation data management and analytics tools in support of medical imaging's transition to value-based decision models, Frost & Sullivan said. Big-data tools are expected to handle medical imaging and patient records better, as well as improve workflow efficiency, diagnostic accuracy, treatment decisions, and health management, according to the company.
While the medical imaging industry is experimenting with big-data analytics to measure, demonstrate, and improve its value proposition, the next frontier will enhance data interoperability and data liquidity to translate static data into a dynamic database that yields actionable analytics and delivers more efficient care, Frost & Sullivan said.
The integration of big-data management and analytics in healthcare and medical imaging will spur a wave of partnerships and collaborations among imaging IT vendors and pave the way for holistic offerings in the U.S. market, the company said.
