Digital Diagnostics: Characteristics, Devices, Venues, Etc.

What’s happening with digital diagnostics?

New opportunities for diagnostic devices were explored by health care providers in the “Digital Medicine” departments at Scripps and by presenters at the 2013 mHealth Summit. One unexpected application was use of digital counters and information delivery systems in emergency departments to reduce tension for patients awaiting treatment. Another example was development of a diagnostic pill for detecting cancer (Mount Sinai Medical Center).

Imaging Systems

At the 2013 Radiological Society of North America annual meeting, presenters emphasized the importance of patient-centered care. Digital diagnostics and data technologies were expected to drive the gathering and storing of information. While applications and devices made headlines, much of the real-world implementation of digital solutions happened in imaging, patient record, and other systems.

According to Global Industry Analysts Inc., the world markets for magnetic resonance imaging (MRI) and picture archiving and communication systems (PACS) were each forecast to generate approximately $6.0 billion by 2018. A second source, ReportsnReports, published a slightly lower estimate of $5.24 billion for MRI systems by 2018.[1]

Wearable Technologies

To generate annual revenues in the multi-billion range, wearable technologies will need to address “authentic utility” to solve real-world problems. That was the position taken in a VentureBeat article that examined the current market and what it could become. Several core principles were identified as significant factors for strong revenue growth, such as identifying and solving specific human problems. Emphasizing enhancement of human capabilities was another.

Ideally, the best technologies address existing behavior rather than requiring adapting to new ones. Automation of elements that humans don’t like doing is also important.

What’s the upside? A 2012 estimate from IMS Research projected a $6.0 billion global market for wearable technology by 2016. Demand was expected to be driven by smart phone and sports applications, downloads, and devices from Fitbit, Nike, and other fitness industry competitors. For comparison, Jupiter Research projected that the global wearable device market would increase from $800.0 million in 2013 to $1.5 billion by 2014. [3]

Interestingly, the 2016 IMS global wearable valuation is in the same range as 2018 forecasts for the MRI and PACS markets individually. If the forecast stays on track, fitness could lead the way for digital diagnostics in wearable devices.

2017 Update:

In early 2017, projected digital device trends emphasized migration of established technologies from other industries into the health care market. Three influential examples are the Internet of Things, three-dimensional printing, and wearable gear. To continue improving efficiencies and outcomes in hospital settings, coordinated care and value-based health care integrate accountability and transparency with incentives via information and medical technologies such as electronic health records, robotics, telemedicine, etc. [5]

[1] “Global Markets for MRI, PACS to Top $6.0 Billion by 2018,” FierceMedicalImaging.com, November 30, 2013.
[2] “Design Principles at the Heart of Wearable Technology,” FierceMobileHealthcare.com, December 2, 2013.
[3] “Wearable Technology Market to Exceed $6 Billion by 2016,” IMSresearch.com, August 2012.
[4] “Wearable Device Market to Reach $1.5B by 2014,” FierceMobileHealthcare.com, November 5, 2012.
[5] “Digital Health Industry: Medical Technology Trends in 2017, Intland.com, January 2017.

[1] “Global Markets for MRI, PACS to Top $6.0 Billion by 2018,” FierceMedicalImaging.com , November 30, 2013.
[2] “Design Principles at the Heart of Wearable Technology,” FierceMobileHealthcare.com, December 2, 2013.
[3] “Wearable Technology Market to Exceed $6 Billion by 2016,” IMSresearch.com, August 2012.
[4] “Wearable Device Market to Reach $1.5B by 2014,” FierceMobileHealthcare.com, November 5, 2012.