Global Computer Aided Detection (CAD) Market, By Application (Breast Cancer, Lung Cancer, Colon/Rectal Cancer, Prostate Cancer, Liver Cancer, Bone Cancer, Neurological/ Musculoskeletal/ Cardiovascular Cancer), Breast CAD Imaging Modalities (Mammography, Magnetic Resonance Imaging, Ultrasound Imaging, Tomosynthesis, Nuclear Imaging), Imaging Modalities (X-Ray Imaging, Computed Tomography, Ultrasound Imaging, Magnetic Resonance, Nuclear Medicine Imaging), End User (Hospitals, Diagnostic Centers, Research Centers) – Industry Trends and Forecast to 2029.
Market Analysis and Size
The computer aided detection (CAD) market has been growing grown rapidly in recent years as people become more aware of the importance of early cancer detection. Although the global market growth is projected to fuel by increased investments in research and development activities, the market is projected to show a downward curve within the forecast period owing to the negative impact of the COVID-19.
- Data Bridge Market Research analyses that the computer aided detection (CAD) market is expected to grow at a CAGR of 9.5% during the forecast period. The “breast cancer” accounts for the largest application segment in the computer aided detection (CAD) market within the forecasted period.
Market Definition
Computer aided detection (CAD) is a collection of algorithms that use pattern recognition to help physicians interpret medical images. The computer aided detection software aids in the diagnosis of various diseases including coronary artery disease, cancer, cardiovascular diseases, and neurological diseases through the imaging modalities, such as x-rays imaging, magnetic resonance imaging, ultrasound imaging, and computed tomography. It is a diagnostic analysis technology that helps doctors reduce detection errors.
Computer Aided Detection (CAD) Market Dynamics
Drivers
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Increasing Prevalence Of Chronic Diseases
The increasing incidence rate of breast, prostate and lung cancer is the most significant factor driving the growth for this market. Moreover, the increased government efforts to raise awareness about cancer and treatment is expected to accelerate the overall growth of the market.
The increasing number of patients opting for diagnostic imaging techniques are projected to cushion the growth of the market. Moreover, its usage in applications such as clinical and research and development activities, rising awareness among the healthcare professionals regarding its advantages such as its ability to detect chronic diseases in early stages accurately, reducing mortality rates due to cancer, cardiovascular, and neurological diseases is also expected to fuel market growth. Moreover, the healthcare expenditure in emerging economies and rising disposable income also cushions the market’s growth within the forecasted period.
Opportunities
Furthermore, the advanced digital imaging techniques have enhanced the effectiveness and efficiencies of computer aided detection solutions, which extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Moreover, the investments in research and development of computer aided detection with 3D imaging will further expand the computer aided detection (CAD) market's growth rate in the future.
Restraints/Challenges
On the other hand, the factors such as the unfavorable reimbursement policies, lack of trained professionals to operate systems and low awareness in rural areas are expected to obstruct market growth. Also, the increasing costs associated with computer aided detection (CAD) tools coupled with the probability of risk for failure in detecting abnormalities are projected to challenge the computer aided detection (CAD) market in the forecast period of 2022-2029.
This computer aided detection (CAD) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the computer aided detection (CAD) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Computer Aided Detection (CAD) Market
The various strict guidelines and regulations by the government due to the COVID-19 has impacted the healthcare market negatively. The computer aided detection (CAD) market was also somewhat negatively as the less number of patients were able to go the hospitals, diagnostic centers and research centers to diagnose for breast cancer, lung cancer, colon/rectal cancer, prostate cancer, liver cancer, bone cancer or neurological/ musculoskeletal/ cardiovascular cancer due to the lockdown restrictions.
However, the market is most likely to bounce back to the same position in the post COVID-19 scenario as the key players are focusing towards various innovativations and developments which might accelerate the market’s growth across the globe.
Recent Developments
- In March 2020, Hexagon AB announced the acquisition of CAEfatigue Limited, a provider of mechanical fatigue simulation solutions, to improve product design and manufacturing. Through this acquisition, the former company aims to enhance its simulation solutions for smart factories.
Global Computer Aided Detection (CAD) Market Scope
The computer aided detection (CAD) market is segmented on the basis of application, breast CAD imaging modalities, imaging modalities and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Application
- Breast Cancer
- Lung Cancer
- Colon/Rectal Cancer
- Prostate Cancer
- Liver cancer
- Bone Cancer
- Neurological/ Musculoskeletal/ Cardiovascular Cancer
On the basis of application, the computer aided detection (CAD) market is segmented into breast cancer, lung cancer, colon/rectal cancer, prostate cancer, liver cancer, bone cancer and neurological/ musculoskeletal/ cardiovascular cancer. The breast cancer is projected to hold a significant share in the application segment.
Breast CAD Imaging Modalities
- Mammography
- Magnetic Resonance Imaging
- Ultrasound Imaging
- Tomosynthesis
- Nuclear Imaging
On the basis of breast CAD imaging modalities, the computer aided detection (cad) market is segmented into mammography, magnetic resonance imaging, ultrasound imaging, tomosynthesis and nuclear imaging. Mammography dominates the breast CAD imaging modalities segment.
Imaging Modalities
- X-Ray Imaging
- Computed Tomography
- Ultrasound Imaging
- Magnetic Resonance
- Nuclear Medicine Imaging
On the basis of imaging modalities, the computer aided detection (CAD) market is segmented into x-ray imaging, computed tomography, ultrasound imaging, magnetic resonance and nuclear medicine imaging.
End User
- Hospitals
- Diagnostic Centres
- Research Centres
On the basis of level of end user, the computer aided detection (CAD) market is segmented into hospitals, diagnostic centers and research centers.
Computer Aided Detection (CAD) Market Regional Analysis/Insights
The computer aided detection (CAD) market is analyzed and market size insights and trends are provided by country, application, breast CAD imaging modalities, imaging modalities and end user as referenced above.
The countries covered in the computer aided detection (CAD) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the computer aided detection (CAD) market because of the rising healthcare expenditure which drives the healthcare growth and the higher adoption of computer aided detection (CAD) for diagnosis of cancer within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increasing awareness among patients and promotional campaigns on the early detection of chronic diseases in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The computer aided detection (CAD) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for computer aided detection (CAD) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the computer aided detection (CAD) market. The data is available for historic period 2010-2020.
Competitive Landscape and Computer Aided Detection (CAD) Market Share Analysis
The computer aided detection (CAD) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to computer aided detection (CAD) market.
Some of the major players operating in the computer aided detection (CAD) market are EDDA Technology, Inc., FUJIFILM Holdings Corporation, Hologic, Inc., iCAD Inc., Koninklijke Philips N.V., Siemens, CANON MEDICAL SYSTEMS CORPORATION, IBM, Riverain Technologies., Median Technologies, GENERAL ELECTRIC, Shimadzu Analytical (India) Pvt. Ltd., Carestream Health., Hitachi Ltd., ESAOTE SPA, Narayana Hrudayalaya Ltd, and Karyopharm among others.
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