What is the scope for future innovations in ultrasound?
The
ever increasing regulations regarding radiation from medical equipment will
trigger a series of innovations in the ultrasound segment. This will not be
limited to only diagnosis but instead will apply also to therapeutic
applications. Easier affordability (in comparison with other high-end
diagnostic equipment) is another driver for ultrasound adoption. Medical
imaging companies all over the world are focused on developing new ultrasound
modules for specific purposes, with the objective of creating a niche market
for themselves in an already competitive and saturated market. This is
particularly noticeable in the therapeutic segment. Venture capital funded
companies and medical research universities are investigating mew methods to
determine the efficacy of therapeutic ultrasound on specific organs to treat pathologies.
Business
Insights discovered that many innovations in the ultrasound segment come from
the small companies. An important point to note here is that innovations are
not just restricted to developing a whole new ultrasound instrument. Certain
Chinese companies are specifically involved in developing innovative probes
that allow better diagnosis of a particular organ. For example, new ultrasound
probes have been developed for acquiring better images from obese patients and
infants. With green initiatives in mind, ultrasound companies are also
designing machines that consume less power.
It
is Business Insight’s opinion that large ultrasound companies such as GE,
Philips, and Siemens are limited in new product innovation as opposed to small
companies. This is because the smaller, venture capital backed firms are
associated with medical research organizations and universities where research
assistants are involved in gathering extensive data related to ultrasound
research. Some of the venture capital funded companies are founded by
electrical/biomedical professors from highly ranked research universities.
Another prominent trend that Business Insights noted is that the turnaround
time from research to new product development to marketing from small ultrasound
companies is at least twice as fast in comparison with large companies (at
least partially resulting from simpler decision-making processes and diminished
internal bureaucracy). Business Insights recommends that it is in the best
interest of the large ultrasound companies to acquire small companies. There
are two benefits associated with this recommendation. First, the small
companies, being backed by venture capital firms with an agenda to see faster
return on investments, would have facilitated the accelerated progress of the
product through the approval process (by virtue of more streamlined and
responsive interactions with the regulators) to attain faster market launch.
Secondly, large companies will further benefit from the already established strategic
partnerships of the small companies with research organizations and medical
universities that could prove useful in product upgrades and innovations to
accessories.
Will ultrasound advances make other imaging equipment obsolete?
A
simple answer to the above question is no. It is a fact that regulatory
authorities are imposing strict rules with regard to reducing the amount of
radiation exposed to patients from modalities such as CT and MRI, but that does
not imply that such machines will become obsolete in the distant future. While
the regulations have no doubt triggered ultrasound innovations, other imaging
modalities have inherent characteristics that are crucial in the diagnosis of
specific pathologies. According to Business Insight’s analysis, ultrasound will
remain a major imaging modality for primary diagnosis, offering physicians more
credible data in terms of quality and targeted organ quantification, and it
will supplement the image diagnosis acquired from other modalities. In other
words, all imaging modalities have their unique characteristics with respect to
spatial and temporal resolutions, and effective pathology-specific analysis
from various machines will contribute to an overall effective diagnosis by
reducing the number of false-positive results.
Will the demand for ultrasound technicians rise?
According
to Business Insight’s analysis, over the next decade there will be a major
shortage of qualified ultrasound technicians. Unlike other imaging modalities,
where image acquisition is completely automated, ultrasound requires human
intervention since the probe has to be manually operated. Despite companies
offering basic training to physicians and technicians, the acquisition of a
qualitative image for the most part depends upon the operator’s talent,
experience, and understanding of the human anatomy. This, combined with the
fact that there are no standards that govern ultrasound operation, only adds to
the challenge of qualified technicians’ availability. The advent of 3D/4D and
elastography features has increased the complexity of ultrasound, especially in
cancer diagnosis, and triggered the need for more qualified ultrasound
operators. Companies that develop such ultrasound machines with advanced
features should also promote initiatives that will create awareness of the
qualified technician requirement over the next decade. The more advanced an
ultrasound becomes, the greater will be the demand for qualified operators. The
availability of qualified ultrasound technicians is relatively better in India
and China owing to a large number of candidates who graduate with a college
degree and the fact that the majority of people in these nations are below the
age group of 30 and 40 years respectively. The same cannot be said about the
economies of US, Europe, and Japan, where qualified ultrasound operators are
scarce.
