The global computer aided detection (CAD) market size is expected to reach USD 1579.5 million in 2028 and register a CAGR of 10.9% according to the latest report by Reports and Data. Growing need for computational assistance for error-free, precise detection and rising awareness about importance of early diagnosis of diseases to minimize death rates are key factors fueling global market revenue growth.
Computer Aided Detection (CAD) is a software system that helps in detecting various types of cancers, neurological or cardiovascular disorders using various imaging modalities such as computed tomography, tomosynthesis, and magnetic resonance imaging. It aids in reducing observational oversights, false-negative results, and provides error-free results in minimum time. Rising prevalence of chronic diseases, such as breast cancer, lung cancer, stroke, and neurological dysfunctions, is a primary factor increasing demand for CAD systems. Technological advancements in diagnostic techniques, increasing efforts by government to raise awareness about cancer and treatment, and growing investments by market players to develop advanced products with 3D imaging are significant factors boosting revenue growth.
However, factors, such as unfavorable reimbursement policies, increasing costs associated with CAD tools, and lack of trained professionals to operate systems are major restraining factors expected to affect growth of global computer aided detection market.
Top Companies Profiled in the Report Include:
EDDA Technology, Inc., FUJIFILM Medical Systems, Hitachi High Technologies Corporation, Hologic Inc., GE Healthcare Ltd., iCAD, Inc., Vucomp, McKesson Corporation, Philips Healthcare, Siemens Healthcare, Toshiba Medical Systems Corporation, Invivo Corporation, and Agfa-Gevaert N.V
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Market Overview:
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
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The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, RD activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.
The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Computer Aided Detection market in these key regions.
Country-wise regional analysis covers:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
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Additionally, the report consists a detailed analysis of the segmentation of the Computer Aided Detection market based on product types and end-use/application offered in the Computer Aided Detection market.
Application Outlook (Revenue, USD Million, 2018-2028)
- Oncology
o Breast Cancer
o Lung Cancer
o Colon/ Rectal Cancer
o Prostate Cancer
o Liver Cancer
o Bone Cancer
- Neurological
- Musculoskeletal
- Cardiovascular
Imaging modalities Outlook (Revenue, USD Million, 2018-2028)
- Mammography
- Tomosynthesis
- X-Ray Imaging
- Computed Tomography
- Ultrasound Imaging
- Magnetic Resonance Imaging
- Nuclear Medicine Imaging
- Others
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