The European diagnostic imaging market is estimated to have grown in 2020 and is estimated to be growing further by 2025. The key factors that drive the European diagnostic imaging market growth are the increase in the geriatric population, an increase in the prevalence of chronic diseases, the rising adoption of imaging devices used in medical evaluations, and technological advancements in imaging methods.
Medical imaging startups in Europe
The increase in the number of aging populations is expected to increase the various chronic diseases and result in high demand for medical imaging devices. Moreover, these advanced diagnostic imaging devices have improved both the diagnosis and treatment of ailments such as cardiovascular diseases and cancer. These devices increase the processing speed, expand the 3D and 4D settings, and capture images in the right place at the right time.
At a time when the medical imaging trends are growing in Europe, here we have curated a slew of medical imaging startups in Europe.
KinePict (Hungary)
Founder/s: Krisztián Szigeti, Szabolcs Osváth
Founded year: 2015
Funding: NA
Based out of Budapest, KinePict is a medical software company that makes X-ray imaging more powerful and safer. The company’s patented technology obtains motion-related functional information from X-ray image series and presents it as a kinetic image. The additional information that is obtained facilitates improved diagnosis of moving organs. And, Kinetic imaging may also make fluoroscopy and angiography safer by reducing contrast material and X-ray dose.
icometrix (Belgium)
Founder/s: Dirk Loeckx, Wim Hecke
Founded year: 2011
Funding: €18.4M
Leuven-based icometrix has developed a fully automated FDA-approved and CE-certified icobrain software. The company claims that its icobrain software paves the way for a better and faster understanding of medical images in a more consistent and personalised manner by quantifying the volume of brain structures and abnormalities. This software is of critical importance as brain scan plays a major role in the diagnosis and treatment of various disorders in an efficient way.
Aidence (Netherlands)
Founder/s: Jeroen van Duffelen, Mark-Jan Harte
Founded year: 2015
Funding: €12.3M
Aidence is a Dutch medical imaging startup, which uses Artificial Intelligence to help medical professionals detect diseases such as lung cancer. The company has expertise in diagnosing early-stage lung cancer with AI algorithms. It has developed Veye Chest, which, according to the company, helps radiologists diagnose the pulmonary nodules to detect lung cancer.
Galgo Medical (Spain)
Founder/s: Antoni Riu, Luis Serra
Founded year: 2013
Funding: €1.2M
Galgo Medical is a spin-off from the Universitat Pompeu Fabra that develops medical imaging software. It offers low-cost pathways for the creation of advanced solutions in the medical technology industry. Galgo Medical provides an effective means of bringing these solutions to the global market that is growing. This is possible with its in-house software development platform meant for the rapid prototyping of medical imaging applications.
QuantifiCare (France)
Founder/s: Pierre Attali
Founded year: NA
Funding: €5M
QuantifiCare is a fast-growing Imaging CRO that offers pre-clinical to phase IV clinical trial services across a wide range of clinical areas to pharmaceutical, biotech and cosmetic industries. The company also provides imaging tools tailored for medical specialists including plastic surgeons, aesthetic specialists and dermatologists. The company intends to transform pioneering ideas into innovative products and services.
LabelFuse (Netherlands)
Founder/s: Jurgen van der Vlist, Kelvin Aongola
Founded year: 2019
Funding: €300k
Eindhoven-based LabelFuse is a front-runner in real-time image labeling and deployment from a single platform. It provides a simple and secure interface powered by Artificial Intelligence letting customers to easily label and deploy their AI applications. Recently, the company secured €200k led by BOM Brabant Ventures to accelerate technical readiness for the mass market, resource expansion and focus on new aspects such as medical imaging.
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