PET scan of a brain

Advances in diagnostic imaging are helping doctors and radiologists identify malignant tumours, cardiac issues and neurological diseases earlier and more accurately than ever before.  In many cases, this can mean the difference between a close call and something much worse.

The most recent report from MaRS Market Insight examines the challenges and opportunities facing Ontario’s diagnostic imaging community.  The report also highlights some of the companies and technologies that are emerging as new leaders in this evolving market.  From regulatory hurdles, to reference installation, to relationship-building with the “big-four” medical imaging OEMs, this study takes a probing look at the market environment and strategies for commercializing innovations in diagnostic imaging in Ontario.
Some key findings include:

An MRI of a beating heart

  1. Research excellence in the computer science departments of Ontario universities is creating a growing opportunity for fruitful collaboration with medical imaging researchers for the development of high-powered computer-assisted-detection, image analysis and segmentation software applications.
  2. Ontario medical imaging researchers have a competitive advantage in collaboration.  Whether it be with industry, clinicians or cross-disciplinary consortia, Ontario’s medical imaging researchers lead the market in their ability to collaborate effectively for the development of new medical imaging technologies.
  3. Greater procurement coordination among hospitals and clinics for medical imaging software and equipment is needed.  Enhanced coordination would lead to significant cost savings for both purchasers and suppliers and would possibly lead to an increase in demand for medical imaging technology in Ontario.
  4. Though hurdles remain, Ontario’s diagnostic imaging community represents an untapped opportunity for a major medical imaging OEM to operate locally.

With an outstanding constellation of universities, hospitals and research institutes, the pace of innovation in diagnostic imaging in Ontario shows no signs of slowing.   Ontario researchers are advancing the frontiers of diagnostic medicine by bringing powerful new imaging modalities, software and network technologies to the world market.  Through fruitful partnerships with the world’s largest imaging equipment OEMs, Ontario is becoming a world-class centre for innovation in diagnostic imaging.

The Diagnostic Imaging report was written with contributions from senior executives at some of the world’s leading medical imaging equipment OEMs; leading biophysicists, researchers and clinicians at some of Canada’s most prominent hospitals and research institutes and an array of domain experts across Ontario.  Download the full PDF report.

George Botos

George is a Schulich MBA student working at MaRS as a Market Research Analyst in Healthcare/Biotech for the Market Readiness Program. See more…