Diagnostic Imaging: Innovators Challenging Huge Markets

Published on Aug 20, 2019

Close-up image of doctors hand pointing at x-ray results

Diagnostic imaging devices are essential throughout the continuum of healthcare. From an initial diagnosis and patient evaluation, to guiding procedures, and ultimately following-up and monitoring the effectiveness of interventions post-op - the versatility of diagnostic imaging devices has made them essential to nearly every branch of medicine. Diagnostic imaging encompasses a number of different modalities, such as computed tomography (CT), magnetic resonance imaging (MRI), ultrasound, and X-ray. High-quality diagnostic imaging devices are critical to assisting healthcare providers in the decision-making and treatment processes.

In February 2020, 100 venture funded medtech startups will gather at the Emerging Medtech Summit to share their business plans and follow-on investment and strategic partnering needs with an audience of investors and strategic buyers (companies like Johnson & Johnson, Medtronic, Boston Scientific, Abbott, and others).  Several companies that will be presenting are developing diagnostic imaging technologies. A few companies are listed below.

Ultrasound offers many benefits over alternative diagnostic imaging modalities. Two of the main competitive advantages of ultrasound include device cost and that ultrasound does not expose patients to ionizing radiation.

By combining smart-devices with an affordable transducer, E-Scopics is aiming to “democratize” ultrasound imaging for healthcare providers. The company’s technology forms images using SaaS running on smart devices (e.g. smartphones, tablets) and analyzes images with AI-based algorithms for quantitative diagnosis.

Exact Imaging’s ExactVu is a micro-ultrasound platform that allows urologists to perform targeted biopsies in real-time. The technology is capable of identifying benign or suspicious regions for biopsy using proprietary risk identification protocols.

Quantason’s hands-free, automated ultrasound scanner is capable of capturing images of potentially harmful breast microcalcifications that are difficult or impossible to visualize using conventional MRI and ultrasound systems. The company’s proprietary Image-Based Dynamic Ultrasound Spectrography (IDUS) platform is a next-generation diagnostic for early and preventative breast screening.

As the technology powering ultrasonic imaging technology continues to improve, accessibility to real-time, patient-friendly imaging will improve patient outcomes in diagnostic and therapeutic settings.

Pristine Surgical has developed a single-use, digital arthroscope system that would lower total costs associated with arthroscopic procedures by eliminating the need for expensive to maintain traditional rod-lens scopes and imaging systems.

Trice Medical is developing minimally invasive diagnostics for orthopedic surgeons. The company’s solutions include the mi-ultra family of ultrasound transducers and the mi-eye handheld arthroscope. The portability of these devices does not compromise the imaging quality that these devices can deliver for in-office procedures.

With an estimated market value of $30bn in 2018, the future of the diagnostic imaging device market seems bright. Next-generation devices that can incorporate advanced features, such as artificial intelligence, can ideally improve early disease detection and offer healthcare providers new insights by computing large amounts of data captured during imaging procedures. 

Come learn more about some of the diagnostic devices in development from these companies, and many other medtech innovators at the Emerging Medtech Summit.

Topics: Medtech, Medtech Venture Capital, Startup, Strategics

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