According to a study published by Insure Insights, the computer-aided detection market is anticipated to grow at a CAGR of 11.4% during the forecast period. Computer-Aided Detection (CAD) is a clinically established tool that aids in diagnosing or detecting cardiovascular, cancer, and neurological diseases. This tool is operated by assisting physicians in decreasing the false-negative rate, reducing cancer mortality rates, detecting cancer at early stages, and other diseases. Moreover, CAD systems are extensively used to help physicians in various tasks that include providing a second opinion to the diagnostic and detection outcomes and automatically recognizing all non-calcified lesions doubted of malignancy at images.

Top Driver: Growing Cancer Treatment Awareness and Massive Investment in R & D

Growing awareness concerning cancer treatment and routine medical check-ups is propelling the demand for the CAD market. Evolution in advanced digital imaging techniques has improved the effectiveness and efficiencies of CAD solutions. Easy integration with other imaging equipment is aiding in the early detection of chronic diseases. Broad applications in clinical and research and development activities and medical tourism are other factors boosting CAD’s adoption. Massive investments in R&D of Computer-Aided Detection with 3D imaging are creating lucrative opportunities for growth of the market.

Breast Cancer to Make Crucial Contribution to Growth of Global Computer-aided Detection Market

On the basis of application, the global computer aided detection market can be segmented into Breast Cancer, Lung Cancer, Rectal Cancer, Liver Cancer, Bone Cancer, Others. Breast cancer segment accounted for a larger market share owing to the rising prevalence of breast cancer across various regions. On the basis of imaging modalities, the market is segmented into Mammography, Magnetic Resonance Imaging, Tomosynthesis, Others. The magnetic resonance imaging to witness huge growth in the market.

Rising Investments in Research and Development to Benefit North America Market

North America is anticipated to gain the largest market share, due to its researchers’ constant efforts to help the industry flourish. The newer technologies coupled with the shifting trends from pattern recognition algorithm and image analysis for workflow management functions especially for the diseases and conditions. Furthermore, Asia Pacific region is anticipated to gain highest CAGR in the market, due to increase in the cost-effective technologies, demand for medical tourism, and government initiatives and programs, which would help the industry gain lucrative growth in the coming years.

Players to Focus on Computer-aided detection Market

The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. EDDA Technology, Inc., iCAD, Inc., FUJIFILM Medical Systems, Hitachi High Technologies Corporation, Hologic Inc., Vucomp, McKesson Corporation, Philips Healthcare, Siemens Healthcare, and Toshiba Medical Systems Corporation. among others could be at the forefront of the competition in the global market.

FUJIFILM: In February 2020, FUJIFILM Europe GmbH launched a new function known as “CAD EYE,” which was developed by FUJIFILM Corporation to support real-time detection of colonic polyps during colonoscopy utilizing AI technology. CAD EYE’s functionality will be available with software EW10-EC01 and the compatible expansion unit EX-1 in combination with the Fujifilm ELUXEO 7000 system. Fujifilm has already acquired CE mark for this new software EW10-EC01 and it will be launched with EX-1.

Hologic, Inc.: In February 2012, Hologic, Inc., a leading developer, manufacturer and supplier of premium diagnostics products, medical imaging systems and surgical products dedicated to serving the healthcare needs of women, launched four ready-to-market technologies at the European Congress of Radiology (ECR), the annual meeting of the European Society of Radiology in Vienna, Austria, March 1-5.

Scope of the Report

By Application

• Breast Cancer
• Lung Cancer
• Rectal Cancer
• Liver Cancer
• Bone Cancer
• Others

By Imaging Modalities

• Mammography
• Magnetic Resonance Imaging
• Tomosynthesis
• Others

By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.