The increasing approval and launch of new products are expected to offer promising growth opportunities for market growth during the forecast period. The computer aided detection market segmentation is based on imaging modalities, breast CAD imaging modalities, application, and region.
The size of the global computer aided detection market was USD 723.65 million in 2019 and is expected to grow during the forecast period at a CAGR of 11.68 percent. Computer-aided detection is generally used to identify breast cancer, lung cancer, colon/rectal cancer, prostate cancer, liver cancer, bone cancer, and neurological/musculoskeletal/cardiovascular cancers. CAD primarily uses the process of pattern recognition to help doctors interpret medical imagery.
CAD combines the elements of artificial intelligence and computer vision with radiological and pathology to process digital images, and thereby help physicians interpret medical images. It is expected that in future, CAD may find applications in digital pathology, although currently, it is being primarily used for quantifying immunostaining. It can help detect the earliest sign of abnormality in patients which human professionals often fail to do.
Key Factors Impacting the Growth of the Computer Aided Detection Market:
Breast CAD Imaging Modalities Outlook:
The global computer aided detection market is split into mammography, magnetic resonance imaging, ultrasound imaging, tomosynthesis, nuclear imaging, and others based on breast CAD imaging modalities.
Among these, the mammography breast CAD imaging segment is expected to witness significant growth during the forecast period. The main factor that is expected to drive the growth of the segment of mammography breast CAD imaging modalities during the forecast period is the rising incidence of cancer, which is a leading cause of mortality and morbidity, globally.
Imaging Modalities Outlook:
The global computer aided detection market is divided into x-ray imaging, computed tomography, ultrasound imaging, magnetic resonance imaging, nuclear medicine imaging, and others on the basis of imaging modalities. In 2019, with ongoing research to resolve the limitations of X-ray imaging, the X-ray imaging segment was maintaining its lead in the global market.
Based on the application, the computer aided detection market has been segmented into breast cancer, lung cancer, colon/rectal cancer, prostate cancer, liver cancer, bone cancer, and neurological/musculoskeletal/cardiovascular. Among these, the breast cancer segment has been registering significant growth in recent times. The factors that are currently driving market growth in the application segment of breast cancer are the high prevalence rate of breast cancer and the recognition of the importance of routine breast cancer check-ups.
Based on regions, the global computer aided detection market has been segmented as North America, Europe, Asia Pacific, Middle East & Africa, and South America. The North America region is currently dominating the computer aided detection market with higher acceptance for advanced technologies and the shift from image analysis and pattern recognition algorithm to workflow management functions.
However, factors like government initiatives and programs to strengthen the healthcare infrastructure and increasing awareness among the population regarding the importance of regular health check-ups are going to drive the growth of the Asia Pacific region during the forecast period.
The report analyzes factors affecting the computer aided detection market from both the demand and supply side and further analyses the market dynamics such as drivers, restraints, opportunities, and future trends. The report also provides a comprehensive Porter’s model analysis on the computer aided detection market for all six regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, and South America.
This report includes the profiles of the key computer aided detection market companies, along with their SWOT analysis and market strategies. In addition, the competitive landscape provides a detailed description of each company including future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launch, new product developments, and other latest industrial developments.
The major companies are focusing on diversified product portfolio, extensive geographical presence, and acquisition strategies to increase their respective market share in the global computer aided detection market during the forecast period. Leading companies in the market include Agfa-Gevaert N.V, iCAD, Inc., Hologic, Inc., G.E Healthcare Ltd, Invivo Corporation, Philips Healthcare, Siemens Healthcare, Toshiba Medical Systems Corp., McKesson Corporation, and Hologic, Inc., among others.
Key Developments in the Computer Aided Detection Market:
What Does This Report Provide?
This report provides a detailed understanding of the global computer aided detection market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.
By Imaging Modalities:
By Breast CAD Imaging Modalities:
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