Medical Imaging: 8 Opportunities for technology entrepreneurs and investors

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There is tremendous opportunity currently to conduct advanced analysis of imaging data for diagnostic and treatment planning purposes, to combine imaging data from various sources and to share images for better medical collaboration. While medical imaging used to be the exclusive domain of large multinational medical devices companies, startups are entering the fray with software-based solutions and clever use of open-source or consumer-based technologies.

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Medical Imaging: 8 Opportunities for technology entrepreneurs and investors

  1. 1. Medical Imaging for Decision Support, Diagnostics, Research & Education 8 Opportunities for tech entrepreneurs and investors Prepared for HealthStartup.eu 6 on medical imaging for decision support & diagnostics. November 19, Heidelberg http://healthstartup.eu/2013/06/hsu6call/
  2. 2. Why ShouldYou Care? Trend 1: A massive increase in the volume and complexity of imaging data Trend 2:The promise of eHealth (sharing medical images within the healthcare system) Trend 3: Increasing demand for solutions that reduce costs and increase efficiency Trend 4:The rise of patient empowerment
  3. 3. A massive increase in the volume & complexity of imaging data 1
  4. 4. Imaging technology is advancing rapidly, leading to ever more modalities Radiography MRI Nuclear medicine Fiduciary Markers (SPECT, PET) Ultrasound Tomography Thermography Photoacoustic imaging Echocardiography Consumer networked photography (smartphones)
  5. 5. All of which generates data, lots of data to archive & manage 1 Exabyte = 1 billion gigabytes Frost & Sullivant predicts that diagnostic imaging alone will generate 1 exabyte of data by 2016, creating a huge data archiving burden for hospitals
  6. 6. But data is food for software
  7. 7. Which enables interdiscisplinary research in: • Medical image visualisation • Computer aided diagnosis • Computer aided surgical planning • Computer aided intervention • Molecular imaging (image courtesy Nagoya University Diagnostic Medical Imaging Lab)
  8. 8. The promise of eHealth (sharing medical images within healthcare system) 2
  9. 9. Efficiency: avoiding repitition of medical imaging Safety: caregivers have immediate access to their patient’s earlier medical images Outcomes: caregivers can work together, sharing info & expertise, to decide best treatment The eHealth promise? 1 3 2
  10. 10. But the silos need to be unlocked “Most of the vast stores of imaging data remain locked in silos—contained within proprietary schema erected by different PACS manufacturers. ...much of the medical imaging data may not be easily shared across a single enterprise, much less across different provider networks and regions.” - Frost & Sullivan White Paper
  11. 11. Increasing demand for solutions that reduce cost and improve efficiency 3
  12. 12. $19billion 4-5%CAGR) Global market for medical imaging devices continues to grow (InMedica), driven by rising demand for healthcare (ageing populations + emerging markets)
  13. 13. But the downturn is forcing most buyers to reduce spending on high-end imaging devices. Also, emerging markets are keen on more affordable solutions. Creating pockets of growth in point of care ultrasound, mobile x-ray & multimodality devices Siemens introduces a more affordable, wired-detector version of its high- end Mobilett Mira mobile digital X-ray system
  14. 14. MedPAC recommends utilisation factor of 90% for medical equipment costing over $1 million How to achieve that without negative consequences for patients? $1,000,000 – $10,000,000 Price range of an MRI machine
  15. 15. The rise of patient empowerment 4
  16. 16. Most patients want direct access to their radiology images and reports. (J. Am. Coll. Radiology, April 2012)
  17. 17. Given the above trends, here’s 8 opportunities for tech entrepreneurs & investors
  18. 18. Analyse imaging data for Computer- Aided-Diagnosis, therapy planning, and therapy assistance 1
  19. 19. Alma IT systems develops medical imaging software for diagnostic and therapy planning purposes, that is integrated with main PACS, RIS & HIS systems. www.alma3d.com
  20. 20. Virtual Proteins develops 3D visualisation and augmented reality applications, for therapy planning and research purposes www.virtualproteins.com
  21. 21. The Nagoya University Medical Image Processing Lab develops solutions for medical image visualisation, computer aided diagnosis and computer assisted interventions Right-above: Endoscope insertion assistance system Left:Virtual unfolded view of the stomach Right-below: Automatic detection of colonic polyps from CT images http://www.med.nagoya-u.ac.jp/english01/6489/6600/Diagnostic-Medical-Image-Processing.html
  22. 22. German company Mint Medical develops image processing methods to improve medical diagnosis, therapy planning and computer-assisted therapy http://www.mint-medical.de/
  23. 23. Quantifying, analysing & visualising imaging data for research purposes 2
  24. 24. Belgian company IcoMetrix offers advanced image processing for quantitative analysis of biomedical images (which is useful for for research purposes) http://www.icometrix.com/
  25. 25. The Applied Medical Informatics working group at ExMI (Experimental Molecular Imaging) lab (Uni. Hosp.Aachen) develops methods to quantitatively analyze clinical and preclinical image data. One aim is to automate certain analytical steps. http://exmi.rwth-aachen.de/
  26. 26. da-cons offers data analysis and visualisation services pertaining to 3D microscopy and 3D cell biology. Handling large 3D, 4D or 5D imaging data files that can be up to several terabytes or even petabytes in size requires immense computational power http://www.da- cons.de/en/welcome
  27. 27. Process imaging data for efficient recording, storage, networking & mobile/web-based visualisation 3
  28. 28. Belgian company Telemis was founded as a medical imaging software company (expertise in image compression and networking) and ended up competing as an independent PACS vendor. http://www.telemis.com Read our interview with the CEO here: http://healthstartup.eu/2012/06/14-lessons-for- health-startups-from-a-successful-health-tech-entrepreneur/
  29. 29. eSaturnus is a Belgian company with roots in the universities in Leuven and Oxford. The company developed a user-friendly medical image recorder (to review cases, for patient communication, for education) and a networked visualisation solution that serves as a control platform for surgeons. www.esaturnus.com
  30. 30. Dixit Solutions in Italy built a web-based image and diagnosis exchange network, called WIDEN, designed specifically for clinical trial purposes http://www.dixitsolutions.com/
  31. 31. Calgary Scientific developed a medical image viewer for mobile and tablets, with clinical workflow tools . www.calgaryscientific.com
  32. 32. Jack Imaging is a web-based platform for sharing medical images https://beta.jackimaging.com/
  33. 33. Create searchable imaging databases for decision support, collaboration, & education 4
  34. 34. Diagnologic is a search engine of 200,000+ radiological images, designed to help clinicians make diagnostic decisions www.diagnologic.com
  35. 35. VisualDX is a database of medical photos (100,000+ peer- reviewed images) for diagnostic purposes. It is web-based and easy to integrate in point-of-care www.visualdx.com
  36. 36. German company Averbis developed a tool for data mining radiological diagnostic reports & images www.averbis.de
  37. 37. Khresmoi developed a multi-lingual, multi-modal search and access system for biomedical information and documents. It can be used for analyzing and indexing multi-dimensional (2D, 3D, 4D) medical images www.khesmoi.eu
  38. 38. Create imaging interfaces & tools for patient education 5
  39. 39. 3D4Medical creates anatomy apps for educational purposes www.3d4medical.com
  40. 40. Vitalrecon processes imaging data at high spatial resolution to create detailed 2D, 3D & 4D visualisations for educational and research purposes www.vitalrecon.com
  41. 41. A German research team developed the ‘Magic Mirror’, an Augmented Reality system (using Microsoft Kinect) that allows a user to virtually look inside the own body, by standing in front of a magic mirror. http://campar.cs.tum.edu/files/mirracle/index.htm
  42. 42. Develop low-cost imaging devices & solutions for primary care and consumers 6
  43. 43. MobiSante developed a smartphone- based ultrasound imaging system http://www.mobisante.com/
  44. 44. Skin Analytics lets people keep track of their moles using their smartphone. The software helps detect changes in the structure and colour of moles. www.skin-analytics.com
  45. 45. 3Derm is developing a solution that enables primary care givers to take 3D images of skin moles and upload them to a web- based platform for remote consults http://3derm.com/pitch.html
  46. 46. Film & broadcast medical practice for educational & research purposes 7
  47. 47. Medinbox develops solutions for recording and broadcasting surgery (from multiple angles + technical feeds) http://www.medinbox.com/
  48. 48. Use image- recognition & movement detection technology to develop novel user interfaces for healthcare 8
  49. 49. TedCas developed aseptic Natural User Interfaces based on Microsoft Kinect www.tedcas.com
  50. 50. Slovenia-based Adora developed an interactive (and contact-free) physician’s assistant enabling presentation of patient's information before and during surgical procedures www.adora-med.com
  51. 51. Consider 7 potential challenges 3
  52. 52. 1 Clinical validation It is necessary It takes time It is expensive How will you fund it? Who will you partner with (startup + university + large tech/pharma)?
  53. 53. 2 Integration How will you make it easy, convenient & secure for clinicians to take part? Work with clinicians & providers, integrate with their systems and interfaces.
  54. 54. 3 Business model Who will pay? Healthcare providers Patients Established PACS/medical devices Health insurance Public health/government
  55. 55. Europe’s networking conference for digital health innovators. Conference topic: Imaging for decision support and improving diagnosis Join us in Heidelberg on November 19 http://healthstartup.eu/2013/06/hsu6call/

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