In Rapidly-Growing MRI Field, Where's the Opportunity for Start-Ups?
Among imaging modalities used to guide surgery, magnetic resonance imaging (MRI) is growing at the fastest rate. According to “"US Markets for Imaged-Guided Surgery Products,"” published in November 2007 by Medtech Insight, MRI systems used in surgery or interventional procedures accounted for 12.5% of the $1.24 billion in surgical interventional imaging sales in the US in 2006, and procedure volumes are expected to grow at a compound annual rate of 9.2% through the year 2011. While it's obvious that the diagnostic imaging giants are positioned to enjoy the growth in emerging applications of MRI, start-ups can profit too.
Among imaging modalities used to guide surgery, magnetic
resonance imaging (MRI) is growing the fastest. That’s
because of its exceptional soft-tissue contrast and spatial
resolution and its ability to provide functional data, without
subjecting patients and physicians to ionizing radiation, a
drawback of x-ray modalities like fluoroscopy and computed
tomography (CT) imaging.
According to "US Markets for Image-Guided Surgery Products," published in November 2007 by the Medtech Insight division of Windhover Information,...
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Medtronic announced it received expanded MRI labeling for its DBS systems, which is critical, given that almost 70% of all DBS-eligible patients will likely need an MRI at some point in their care, says Ashwini Sharan, CMO for Medtronic Neuromodulation.
In this episode, Medtech Insight reporter Natasha Barrow speaks to LungLife AI CEO Paul
Pagano. Lung Life AI is a US-based AIM-listed medical technology company that has developed a liquid biopsy test for the early detection of lung cancer called Lung LB. Pagano runs through the highlights of Lung Life AI journey to date and its future ambition for a strategic partnership. He also provides advice to similar diagnostic companies seeking reimbursement andcompliance with the US FDA Lab Developed Test ruling.
Paul Campbell, chief regulatory officer at HealthAI, emphasizes existing regulations for AI in healthcare should not be overlooked as new regulations are developed.
CEO Alexandre Chau told Medtech Insight that the Middle East and Africa presented the ideal mix of market potential, physician training opportunities, and regulatory readiness when the company was considering expansion markets beyond Europe and the US.