ALBANY, New York, February 14, 2018 /PRNewswire/ --
According to the report, the global computer aided detection market is projected to reach US$1115.3 mn by the end of 2025. The global market is expected to surge at CAGR of 9.8% from 2017 to 2025. The report points out that the computer aided detection technology will be predominantly used for detection and diagnosis of breast cancer in the healthcare sector. Owing to this reason, the breast cancer segment held a share of 70% in the global market in 2016 and is expected to continue on similar lines. Geographically, North America is leading the global with a share of 62%. High incidence of cancer in the region and better healthcare facilities are driving this regional segment.
Rise in Incidence of Cancer Drives Demand for CAD
The dramatic change in the levels of pollution and changes in lifestyle have, over time, led to a rise in the number of cancer cases. The high incidence of various types of cancer such as prostrate, breast, lunch, colorectal, and others has triggered a need for technologically advanced computer aided detection solutions. These are sophisticated imaging technologies have played a critical role in enabling accurate magnetic resonance imaging, mammography, ultrasound imaging, and nuclear imaging among others. This has increased the demand for CAD in multispecialty hospitals, ensuring growth of this market in coming years. The market is also being driven by exceptional advancements in digital imaging, development of efficient CAD solutions, quick integration of CAD solutions in a wide range of imaging equipment, and growing awareness among the patients about early detection of cancer.
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Medical researchers and practitioners have only been recently using medical imaging devices that are integrated with computer aided detection. The need for computational assistance came from the increasing demand for error-free detection. With technological advancement, CAD has enabled an accurate assessment of the condition that patient maybe suffering from. CAD has achieved this by increasing the sensitivity of diagnostic imaging obtained from radiological imaging devices in the practice of medical investigation and differential diagnostics. Statistics released by WHO state, there is a likelihood of a 30% rise in the number of cancer cases by 2038. The organization further reveals that one third out of these will meet a fatal end due to behavioral and dietary risks. Poor body mass index, low fruit and vegetable intake, tobacco use, alcohol use, and lack of physical activity have been identified as the key causes of cancer cases and morbidity.
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Unfavorable Policies to Restrain Global CAD Market
On the negative side, the market is being restrained by a few complex dynamics. Currently, the global CAD market is challenged by inadequate data supporting the efficiency of CAD solutions in early diagnosis of the diseases. The market is also likely to be restrained by the disinterest of healthcare professionals in incorporating latest technologies for imaging purposes due to their premium pricing. Furthermore, the market is also being troubled by the unfavorable taxation policies and poor reimbursement schemes, especially in the developing parts of the world.
Transparency Market Research (TMR) states that EDDA Technology, Inc., Agfa-Gevaert N.V., Hologic, Inc., Fujifilm Medical Systems, Inc., and iCAD, Inc. are some of the leading players in the global computer aided detection (CAD) market. The competitive landscape is quite fragmented, reports TMR. The competition is expected to intensify in the coming years as several new players and startups are entering the market with technological upgrades. Mergers and acquisitions and technological innovation are expected to give the international players an edge over others in the near future.
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This review is based on Transparency Market Research's report, titled "Computer Aided Detection Market (Application - Oncology (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Liver Cancer, and Bone Cancer) and Cardiovascular and Neurological Indications; Imaging Modality - Mammography, MRI, Ultrasound, Tomosynthesis, and CT) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017-2025".
- Increased the demand for CAD in multispecialty hospitals, ensuring growth of this market in coming years.
- The need for computational assistance came from the increasing demand for error-free detection.
The global computer aided detection market has been segmented as follows:
Computer Aided Detection Market, by Application
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Prostate Cancer
- Liver Cancer
- Bone Cancer
- Cardiovascular and Neurological Indications
Computer Aided Detection Market, by Imaging Modality
- Ultrasound Imaging
Computer Aided Detection Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa
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