Why Custom Competitive Intelligence (CI) Research is Essential for Imaging Diagnostics Companies

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Staying Ahead in Imaging Diagnostics with Data-Driven Competitive Intelligence 

In today’s rapidly evolving imaging diagnostics landscape, AI-enabled imaging is projected to grow by 35% in the next five years​. As hospitals and imaging centers continue adopting MRI, CT, ultrasound, PET, and AI-driven imaging, imaging diagnostics companies and manufacturers that rely on outdated market assumptions risk falling behind. 

To stay ahead, leading imaging diagnostics companies are investing in Custom Competitive Intelligence Research (CI)—a data-driven, evidence-based approach that delivers tailored insights into competitor strategies, hospital purchasing behaviors, regulatory changes, and AI adoption trends. 

 

“Custom Competitive Intelligence (CI) Research is no longer a luxury—it’s a strategic imperative.”
— Dameka Williams, MBA, VP of Market Intelligence Insights 

 

 

 

 

 

 

This blog will explore: 

✔️ Why Custom Competitive Intelligence is Critical for Imaging Diagnostics Companies
✔️ How Custom CI Research Empowers Smarter Decisions
✔️ Key Competitive Intelligence Use Cases in Imaging
✔️ A Real-World Case Study: Leveraging CI for AI-Driven Imaging Success 

Download the Free Competitive Intelligence for Lab Diagnostics Infographic for Key Blog Insights 

Why Custom Competitive Intelligence Matters in Imaging Diagnostics 

1. AI, Automation, and Competitive Disruption 

AI is revolutionizing imaging diagnostics, but not all companies are keeping up with adoption trends. Imaging centers, hospitals, and manufacturers are investing in AI-powered diagnostics to improve workflow efficiency, accuracy, and patient outcomes. However, 35% of firms struggle with AI integration due to unclear ROI, shifting reimbursement models, and lack of competitor benchmarking.  

Custom CI research helps imaging diagnostics companies: 

  • Benchmark AI adoption rates across hospitals and imaging centers 
  • Assess competitor strategies in AI-enhanced radiology and decision-support tools 
  • Track how reimbursement models impact AI purchasing decisions. 

For imaging equipment manufacturers, this intelligence is crucial for product positioning and sales strategies. For imaging service providers, understanding AI-driven workflow efficiency and competitor service models is key to staying competitive. 

2. Shifting Purchasing Decisions in Hospitals and Imaging Centers 

Imaging diagnostics companies must align with hospital and imaging center decision-makers, who are no longer only focused on price and product features. Purchasing decisions now emphasize: 

  • Total cost of ownership (OTC) and long-term ROI 
  • Reimbursement trends and compliance challenges 
  • Technology integration (AI, cloud-based imaging, tele-radiology solutions) 
  • Service and support models for imaging systems  

📌Competitive intelligence (CI) research reduces go-to-market risk by 40%, allowing companies to refine product positioning, pricing, and sales strategies based on real-time purchasing insights. Custom CI Infographic 

📌 Use Case Example: 

  • An imaging software company used custom CI research to analyze competitor adoption rates of AI-powered workflow automation tools in hospital radiology departments. 
  • The findings allowed them to adjust their pricing model and feature set, leading to a 20% increase in hospital contracts within one year. 

3. Regulatory and Reimbursement Challenges 

Reimbursement changes and regulatory shifts directly impact purchasing decisions and technology adoption in imaging diagnostics. Whether you’re a manufacturer, an imaging center, or a software provider, staying ahead of policy changes is essential. 

Custom CI research helps imaging diagnostics companies: 

  • Analyze reimbursement trends for AI-enhanced imaging, contrast agents, and new imaging modalities 
  • Track FDA approvals and regulatory shifts affecting imaging technologies. 
  • Forecast how policy updates impact hospital budgets and purchasing priorities 

📌 Hospitals using CI insights see a 25% improvement in imaging equipment ROI, reinforcing the importance of data-driven strategic adjustments. Custom CI Infographic 

📌 Use Case Example: A diagnostic imaging center group leveraged custom CI to track Medicare reimbursement changes for advanced PET imaging procedures, helping them optimize service pricing and secure better payer contracts. 

How Custom Competitive Intelligence Research Works 

A competitive intelligence framework ensures you get the insights needed to make smarter business decisions.  

  1. Define Objectives: benchmark AI adoption, imaging modalities, and install-based imaging center purchasing trends and preferences.  
  2. Conduct Research: Collect targeted insights from hospital administrators, imaging center executives, radiologists, and other applicable decision makers and stakeholders. 
  3. Analyze Insights: Compare vendor strategies, reimbursement policies, and demand forecasts. 
  4. Apply Findings: Optimize sales strategy, refine AI adoption roadmaps, and adjust pricing models.  

Custom intelligence helps imaging diagnostics companies increase market share, optimize pricing strategies, and refine go-to-market execution. [Click to Claim Your Free Market Assessment] 

📌 Case Study: How a Leading Imaging Diagnostics Company Used Custom CI to Increase AI Sales by 30% 

The Challenge 

A global imaging diagnostics company needed custom insights on AI adoption rates and competitor positioning for radiology AI solutions. 

The Solution 

Partnering with IMV to conduct a custom market research study to: 

  • Track AI-enabled imaging purchasing trends across hospitals and outpatient imaging centers 
  • Analyze competitive AI pricing and feature differentiation 
  • Understand reimbursement models for AI-integrated imaging solutions 

The Result 

The company optimized its AI integration strategy, leading to a 30% increase in AI-driven imaging sales within 12 months. Custom CI Infographic 

Competitive intelligence provides data-driven clarity for smarter business decisions. 

Take Action: Ready to see how Custom CI Research can transform your strategy? 

The future of imaging diagnostics is data-driven. Companies that invest in custom competitive intelligence research gain a strategic advantage, mitigate risks, and capture market share faster. At IMV, we specialize in Custom Competitive Intelligence Research tailored to the needs of imaging diagnostics companies worldwide. With decades of deep imaging experience and recognition, our approach combines primary and secondary research to deliverable measurable results and real-world impact.  

Ready to start your custom CI journey? Fill out the form below to request your free market assessment and consultation. We’ll work closely with you to configure a study that strikes the right balance between depth and breadth, quantitative and qualitative insights, urgency and precision. 

 

Hospital-based diagnostic x-ray volumes continue to decline

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global imaging market

From 2020 to 2023, the number of general x-ray procedures performed in main hospital radiology departments declined 16%, from 88.7 million in 2020, to 74.5 million in 2023 for an overall annualized rate of decline of 4.3%, according to the newly published “IMV 2024 Diagnostic X-Ray Market Outlook Report.”

By site type, over the same period, x-ray procedure volumes in hospitals with fewer than 200 beds had an annual decrease of 4.6%, while for hospitals with 200 to 399 beds, procedure volume decreased 7% and for hospitals with 400 beds or more procedure volume decreased by 0.1%. 

X-ray procedure volumes in main radiology departments, 2020 to 2023
Hospital sizeVolume changeCompound annual growth rate (CAGR)
Overall—-4.3%
<200 bed Hospitals17.2%-4.6%
200-399 bed Hospitals25.3%-7.0%
400+ bed hospitals0.5%-0.1%

In 2023, the top types of diagnostic x-ray procedures performed in main radiology departments were chest, spine, abdomen/pelvis,  and extremities, for a combined total of 79% of procedures. By type of x-ray, between 2020 and 2023 chest procedures sustained an average annual decrease per site of 8.5%; spine a 1% increase; abdomen/pelvis a 7.2% decrease; and extremities a 4.8% decrease.  

Average annual x-ray procedure volumes per site in hospital radiology departments
Type of diagnostic exam2020-2023 CAGR
Chest-8.5%
Spine1%
Abdomen/pelvis-7.2%
Extremities-4.8%

In this latest survey, the No. 2 future outlook factor for diagnostic x-ray departments was “Our x-ray department is expanding the clinical uses of general x-ray such that our served patient population will grow beyond what we address today” — and 39% of sites agreed or totally agreed with this statement. 

Regarding x-ray department site operations, the report found that, in 2024, 90% of hospital radiology departments sites reported waiting times for a scheduled non-emergency x-ray outpatient visit of less than 24 hours. It also found the following:

  • 95% of hospitals with fewer than 200 beds have typical wait times for x-ray imaging of less than 24 hours, compared to 81% for hospitals with 200 to 399 beds and 66% for those with 400 beds or more.
  • In 2024, 37% of sites stated that typical turnaround time for x-ray reports was less than an hour; 42% of sites, one to four hours; 9% of sites, four to 24 hours; and 12% of sites, 24 or more hours.
  • Average turnaround time for x-ray reports in hospitals with 400 beds or more was 2.8 hours compared to 5.6 hours for those hospitals with 200 beds or less. 

Finally, the report found that x-ray departments’ top priority was to “improve patient satisfaction with their x-ray imaging experience,” and that 89% of general x-ray sites stated that the radiology department owns or manages mobile/portable x-ray imaging units — including those located outside of radiology.  

Even though x-ray procedure volumes performed in the main hospital radiology department have declined in recent years, there is optimism regarding expanding the clinical uses of radiology which may help to serve a larger patient population in the future. In addition, the rate of decline in procedure volumes differs between site types and exam types, which suggests that there may be some stabilization in procedure volumes underway in some locations and for some types of diagnostic x-ray procedures.

Want to share your knowledge of medical imaging? Click here to sign up for the IMV Survey panel today. 

Davin Korstjens is a director of market intelligence at IMV Medical Information Division, part of Science and Medicine Group.

IMV’s 2024 Diagnostic X-Ray Market Outlook Report explores market trends in U.S. hospitals including procedure volume, manufacturer-installed base features and share, the use of OEM vs. third-party service providers, purchase plans, brand loyalty, and site operations characteristics. The report was published in May 2024 and is based on responses from 251 radiology/departmental administrators and clinicians who participated in IMV’s nationwide survey from February – April 2024. Vendors covered in this report include Agfa, Canon, Carestream, Del Medical, Fujifilm, GE, Imaging Dynamics, Konica Minolta, Philips, Samsung, Shimadzu, Siemens, Swissray, and United Imaging. 

For information about purchasing IMV Market Outlook Reports, visit the corporate website at https://imvinfo.com/ or call 703-778-3080 ext. 1033 to speak with a representative.  In addition to the report, all purchases will include a complimentary recording of an executive summary presentation of findings conducted by IMV’s Director of Market Intelligence.

How Market Research Supercharges Diagnostic Imaging Go-To-Market Strategies 

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In the dynamic diagnostic imaging industry, staying ahead means having smart strategies in place. Market research is the secret ingredient that fuels successful go-to-market (GTM) plans. It helps you understand your audience, outshine competitors, and make informed decisions. In this blog, we explore how market research supercharges different parts of your GTM strategy for success in the diagnostic imaging industry. 

Understanding the Importance of Market Research 

At the heart of every effective GTM strategy lies a deep understanding of the market landscape. Market research serves as the compass guiding businesses through the complexities of the diagnostic imaging industry, helping them navigate regulatory hurdles, identify emerging trends, and uncover unmet needs. Let’s dig into some specific areas where market research is a foundational component of building a winning GTM strategy:  

  1. Identifying Market Opportunities: In a field driven by innovation and discovery, market research is instrumental in identifying untapped opportunities and niche markets. By analyzing market trends, customer behaviors, and competitive landscapes, businesses can pinpoint areas of potential growth and develop strategies to capitalize on them effectively. 
  2. Mitigating Risks and Reducing Product Failures: Launching a new product in the diagnostic imaging industry is not without its challenges. Market research acts as a safeguard against costly missteps and product failures by providing insights into market dynamics, customer preferences, and regulatory requirements. By proactively addressing potential risks, businesses can minimize the likelihood of product misalignment and regulatory hurdles. 
  3. Enhancing Product Differentiation: In a crowded marketplace, differentiation is key to standing out from the competition. Market research helps businesses identify their unique value propositions and tailor their offerings to meet the specific needs of their target audience. By understanding customer preferences and competitive landscapes, businesses can position themselves as industry leaders and drive market adoption. 
  4. Customer Insights: At the heart of every successful GTM strategy lies a deep understanding of the customer. Market research helps businesses gather valuable insights into customer needs, preferences, and pain points. By analyzing customer feedback, reviews, and sentiments, businesses can develop products and services that resonate with their target audience and drive long-term loyalty. 
  5. Regulatory Landscape: Navigating the regulatory landscape is a critical aspect of GTM strategies in the diagnostic imaging industry. Market research helps businesses stay abreast of regulatory changes and anticipate their impact on product development and market entry. By collaborating with legal and compliance teams, businesses can ensure that their GTM strategies comply with industry regulations and standards. 
  6. Optimizing Pricing Strategies: Pricing is a strategic lever that can significantly impact market penetration and profitability. Market research methodologies like Van Westendorp and conjoint analysis provide valuable insights into price sensitivity, optimal pricing ranges, and competitive positioning. By aligning pricing strategies with customer preferences and competitive landscapes, businesses can maximize revenue and market share.  

In conclusion, market research is not just a data-gathering exercise but a strategic imperative for diagnostic imaging companies seeking to thrive in a competitive marketplace. By leveraging market research insights, businesses can develop GTM strategies that resonate with their target audience, mitigate risks, and drive long-term success in the dynamic and evolving landscape of the diagnostic imaging industry. 

While this blog has focused on how market research boosts go-to-market strategies in diagnostic imaging, it’s just one piece of the puzzle. In our other blog, 4 Key Components to a Winning Go-To-Market Strategy, we see how market research fits into the bigger picture. By combining market insights with targeted audience identification, pricing strategies, distribution channels, and compelling messaging, businesses can craft robust strategies that lead to success in the diagnostic imaging industry and beyond. If you’re looking for a partner to help you craft winning GTM strategies, we’d love to chat! Contact us today to get started.   

4 Key Components to a Winning Go-To-Market Strategy 

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Crafting a successful go-to-market (GTM) strategy in the diagnostic imaging industry requires strategic planning and meticulous execution. It’s more than just bringing a product to market—it’s about aligning your offering with market needs, targeting the right audience, and positioning your brand for success. In this blog, we explore the essential steps and strategies necessary to build a winning GTM approach, tailored specifically to the unique demands of the diagnostic imaging market. 

Understanding the Core Components of GTM Strategy: 

Launching a product in the diagnostic imaging industry involves a series of strategic decisions. It starts with understanding the core components of a GTM strategy, which include identifying your target audience, determining the optimal pricing strategy, establishing effective distribution channels, and crafting compelling messaging to differentiate your offering in the market. Let’s dig into each of these four key components in more detail:  

  1. Identifying Your Target Audience: 

One of the foundational elements of a successful GTM strategy is identifying your target audience. Who are the key stakeholders in the diagnostic imaging ecosystem that will benefit from your product or solution? Understanding the pain points, needs, and preferences of your target audience is essential for tailoring your marketing efforts and maximizing your impact in the market. 

  1. Determining Pricing Strategy: 

Pricing plays a crucial role in the success of your GTM strategy. It not only influences customer perceptions but also determines your profitability and market positioning. Conducting thorough market research and competitor analysis can help you determine the optimal pricing strategy for your product, considering factors such as value proposition, cost structure, and customer willingness to pay. 

  1. Establishing Distribution Channels: 

Choosing the right distribution channels is critical for ensuring that your product reaches its intended audience efficiently and cost-effectively. Whether you opt for direct sales, partnerships with distributors, or online marketplaces, it’s essential to evaluate the strengths and weaknesses of each channel and align them with your GTM objectives. 

  1. Crafting Compelling Messaging: 

Effective communication is key to capturing the attention of your target audience and persuading them to choose your product over competitors’. Crafting compelling messaging that highlights the unique value proposition of your offering and addresses the specific needs of your target audience is essential for driving engagement and generating sales. 

Executing Your GTM Strategy: 

Once you’ve defined the key components of your GTM strategy, it’s time to put your plan into action. This involves coordinating cross-functional teams, allocating resources effectively, and monitoring key performance indicators to ensure that your GTM strategy is delivering the desired results. Iteration and optimization are crucial for adapting to changing market dynamics and maximizing your chances of success. 

Crafting an effective go-to-market strategy in the diagnostic imaging industry requires careful planning, strategic decision-making, and execution excellence. By understanding the core components of a GTM strategy, identifying your target audience, determining pricing strategy, establishing distribution channels, and crafting compelling messaging, you can position your brand for success and drive market impact.  

Harnessing market research is pivotal in gathering the insights necessary to shape your GTM strategy across these critical components. Dive deeper into the impactful role of market research in refining GTM strategies by checking out our blog, “How Market Research Supercharges Diagnostic imaging Go-To-Market Strategies.” If you’re looking for a partner to help you craft winning GTM strategies, we’d love to chat! Contact us today to get started. 

IMV: PET scan volumes continue to grow

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dual energy spectral CT

In 2023 compared with 2022, the total volume of positron emission tomography (PET) scans increased 10.2% year over year, according to the newly published IMV 2024 PET Market Summary Report.

In 2023, the average number of PET scans per fixed PET site (versus mobile PET) increased 6.7% from 1,401 estimated PET scans per system in 2022 to 1,495 in 2023. As of the 2023 PET survey, 62% of sites have at least one physician who reads PET scans in their department, with an average of 5.4 physicians reading PET scans per site.

Looking ahead, 67% of PET sites anticipate their procedure volumes will increase over the next twelve months, 28% expect them to stay the same, and 2% expect them to decrease, according to the report.

For radiopharmaceutical usage in 2023, the report found the following:

  • 74% of PET scans use F-18 FDG-PET (F-18 fluoro-2-deoxy-D-glucose),
  • 9% use Pylarify (F-18 DCFPyL),
  • 6% use rubidium-82 (Rb-82),
  • 3% use gallium-68 (Ga-68) prostate-specific membrane antigen (PSMA)-11,
  • 3% use Ga-68 DOTATATE,
  • 2% use copper-64 (Cu-64),
  • 1% use F-18 sodium fluoride (NaF),
  • 1% use Amyvid (florbetapir), and
  • 1% use Axumin (fluciclovine F-18).

In terms of 2023 spending, the average radiopharmaceutical expenditure per fixed PET site is estimated to be $517,000.

In 2023, 38% of PET systems were operated by the PET department, 28% by nuclear medicine, 24% by radiology/imaging, 5% by radiation oncology, and 2% by molecular imaging.

Place of PET imaging by hospital department
DepartmentPercentage of PET systems operated by department
PET38%
Nuclear medicine28%
Radiology/imaging24%
Radiation oncology5%
Molecular imaging2%

By site type, 45% to 46% of hospitals with 200 beds or more operate their PET systems from a nuclear medicine department, while 49% to 54% of independent and hospital-owned sites operate theirs from a PET department. This could indicate that non-hospital sites may have a more specific focus on PET/CT exams, compared to a more broad integrative focus across nuclear medicine in hospital sites.

Want to share your knowledge of medical imaging? Click here to sign up for the IMV Survey panel today.

Davin Korstjens is a Senior Market Research Program Manager at IMV Medical Information Division, part of Science and Medicine Group.

IMV’s 2024 PET Market Summary Report explores market trends in U.S. hospitals and imaging centers, including procedure volume, manufacturer-installed base features and share, the use of OEM vs. third-party service providers, purchase plans, brand loyalty, radiopharmaceutical usage, and site operations characteristics. The report was published in February 2024 and is based on responses from 503 radiology/departmental administrators and clinicians who participated in IMV’s nationwide survey from March 2023 to January 2024. Vendors covered in this report include Bracco, Canon, Cardinal Health, GEHC, Jubilant, Lantheus, Philips, Siemens, SOFIE and United Imaging.

For information about purchasing IMV Market Outlook Reports, visit the corporate website at https://imvinfo.com/ or call 703-778-3080 ext. 1033 to speak with a representative.  In addition to the report, all purchases will include a complimentary recording of an executive summary presentation of findings conducted by IMV’s Senior Program Manager.

Disclosure: IMV Medical Information Division is a sister company of AuntMinnie.com.