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Ultrasound, computed tomography (CT), magnetic resonance imaging (MRI) medical imaging produce human body pictures in digital form. These medical applications have already been integrated into mobile devices and are being used by medical personnel in treatment centers, for retrieving and examining patient data and medical images. Storage and transmission are key issues in such platforms, due to the significant image file sizes. Wavelet transform has been considered to be a highly efficient technique of image compression resulting in both lossless and lossy compression of images with great accuracy, enabling its use on medical images. On the other hand, in some areas in medicine, it may be sufficient to maintain high image quality only in the region of interest i.e. in diagnostically important regions. This paper proposes a framework for ROI based compression of medical images using wavelet based compression techniques (i.e. JPEG2000 and SPIHT). Results are analyzed by conducting the experiments on a number of medical images by taking different region of interests. The performance is evaluated using various image quality metrics like PSNR, SSIM and Correlation.