Computer Aided Detection Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025
Computer Aided Detection (CAD) software is a set of algorithms that uses pattern recognition method assisting physicians with interpretation of medical images. Increasing number of patients opting for diagnostic imaging techniques is expected to propel the volume of image data to be analyzed. It is a diagnostic analysis technology, which assists physicians in reducing detection errors. CAD software is helpful in diagnosis of several diseases, such as cancer, coronary artery disease, cardiovascular diseases, and neurological diseases through imaging modalities, such as X-Rays imaging, Magnetic Resonance Imaging ultrasound imaging, and computed tomography. It helps in accurate detection of chronic diseases in early stages, reducing mortality rates due to cancer, cardiovascular, and neurological diseases.
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Increase in prevalence of the chronic diseases is anticipated to fuel the demand of Computer Aided Detection Market
Increasing cancer treatment awareness and routine medical check-up is driving the demand for CAD market. Advanced digital imaging techniques have enhanced the effectiveness and efficiencies of CAD solutions. Easy integration with various imaging equipment is helping with early detection of chronic diseases. It has applications in clinical and research and development activities. Medical tourism is also boosting the adoption of CAD. Gradual increase in demand for Health Insurance, which requires pre-screening of chronic diseases is driving the growth of CAD market. Major investments in R&D of Computer Aided Detection with 3D imaging are providing opportunities for growth of the market. High cost is the challenge for growth of CAD market.
Mammographic film reading for breast screening demand increases highly which involves the recognition of abnormality signs. Thus, this segment is also expected to be a fastest growing segment over the forecast period.
North America region dominates the computer aided detection market due to higher adoption of CAD for diagnosis of cancer. The European region is anticipated to be the second largest market with a prominent share of the breast cancer segment.
Asia- pacific regions is also growing and it emerge as opportunistic markets in the near future due to increasing awareness among patients and promotional campaigns on the early detection of chronic diseases by various Government agencies. The Africa & Middle East are contributing the smallest portion in CAD market as compared to others due less advanced technology and awareness.
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Intense merger and acquisition among the emerging players to boost the computer aided detection market
Key players involved in global computer aided detection market are GE Healthcare, Philips Healthcare, Hologic,Inc., Inc. iCAD, Agfa-Gevaert N.V., EDDA Technology, Fujifilm Medical System, Invivo Corporation, Hitachi Medical Corporation, and Siemens Healthineers. GE Healthcare got FDA clearance for its Senographe Pristina Dueta, which is claimed to be the 1st patient-assisted mammography device that allows women to control their own compression during the examination. GE healthcare has transform the mammography for reducing the pain during examination. Philips Healthcare has entered an agreement with Belgium-headquartered IBA (ION Beam Applications SA) for providing proton therapy solutions, it is an advanced therapy for treatment of cancer in India.
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