Computer Aided Detection (CAD) Market Size, Share, Trends, Development Strategies, Competitive Scenario and Segmentation Analysis

The universal Computer Aided Detection (CAD) Market report is used to analyse and evaluate performances of a company within a market. It studies effectiveness of a sales force and helps in identifying sales territories. With this market information, companies can know about the areas of shortcoming in sales. It examines alternative methods for distribution of goods. When the most challenging task for any production manager is to keep optimum levels of inventory, marketing research helps in sales forecasting by using market share method, sales force estimate method and jury method. This can also be useful in fixing sales quotas and marketing plans.

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.

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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.

Drivers

• 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.

Key Players:

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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Computer Aided Detection (CAD) Market Scope

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.

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.

The report provides insights on the following pointers:

• Market Penetration: Comprehensive information on the product portfolios of the top players in the this market
• Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
• Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies

Critical Insights Related to This Market Included in the Report:

• Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in this market
• Value chain analysis of prominent players in the market
• Current trends influencing the dynamics of this market across various geographies
• Recent mergers, acquisitions, collaborations, and partnerships
• Revenue growth of this industry over the forecast period
• Marketing strategy study and growth trends
• Growth driven factor analysis
• Emerging recess segments and region-wise market
• An empirical evaluation of the curve of this market
• Ancient, Present, and Probable scope of the market from both prospect value and volume

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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.

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