Global Computer Aided Detection Market Is Forecasted To Surge Ahead At A CAGR Of 10% From 2023 To 2033
The computer-aided detection (CAD) market refers to the use of computer algorithms and artificial intelligence (AI) to assist in the interpretation of medical images. This technology is commonly used in the detection of breast cancer, lung cancer, and other medical conditions. The global computer-aided detection market size was valued at USD 661.1 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.9% from 2021 to 2028. The increasing incidence of cancer and the growing demand for early diagnosis and treatment are driving the market growth. In addition, the development of AI-based CAD systems and the rising adoption of digital imaging technologies are expected to further propel the market growth.
North America dominates the global computer-aided detection market, followed by Europe and Asia-Pacific. The United States is the largest market in North America, owing to the high adoption of advanced medical technologies and the presence of major market players in the region. The Asia-Pacific region is expected to witness the fastest growth during the forecast period, owing to the increasing healthcare expenditure, rising awareness about early disease detection, and the growing adoption of advanced imaging technologies in the region.
Key players in the computer-aided detection market include GE Healthcare, Siemens Healthineers, Hologic Inc., Fujifilm Holdings Corporation, Koninklijke Philips N.V., Canon Medical Systems Corporation, iCAD Inc., Agfa-Gevaert Group, Hitachi Ltd., and EDDA Technology Inc. These companies are focusing on product launches, partnerships, and collaborations to strengthen their market position and expand their product portfolio.
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Key findings of the Computer Aided Detection market study:
- The report provides a present market outlook on Computer Aided Detection. Additionally, the Computer Aided Detection market share is anticipated to grow with a CAGR of 10% in the forecast period.
- Regional breakdown of the Computer Aided Detection market based on predefined taxonomy.
- Innovative manufacturing processes implemented by Computer Aided Detection vendors in detail.
- Region-wise and country-wise fragmentation of the Computer Aided Detection market to grasp the revenue, and growth outlook in these areas.
- Changing preferences among consumers across various regions and countries.
- Factors (Positive and Negative) impacting the growth of the global Computer Aided Detection market.
- Computer Aided Detection price, market share, and Trends forecast for assessment period 2023-2033
Why is the United States a Major Market for Computer Aided Detection?
The United States is a major market for computer-aided detection (CAD) due to several factors:
- Advanced Medical Technology: The US is known for its advanced medical technology and infrastructure. The country has a well-established healthcare system with a high adoption rate of digital imaging technologies. This has created a conducive environment for the growth of the CAD market.
- Increasing Incidence of Cancer: The US has a high incidence of cancer, which has led to an increased demand for early detection and treatment. CAD systems aid in the early detection of cancer, which has contributed to the high adoption rate of these systems in the country.
- Large Healthcare Expenditure: The US spends a large portion of its GDP on healthcare, which has resulted in significant investments in advanced medical technologies. This has created a favorable environment for the growth of the CAD market.
- Presence of Major Market Players: The US has a large number of market players in the CAD market, including GE Healthcare, Hologic Inc., and iCAD Inc. These companies have a strong presence in the country and have contributed to the growth of the market.
- Government Support: The US government has been supportive of the adoption of advanced medical technologies, including CAD systems. This has resulted in increased funding for research and development and regulatory support for the commercialization of CAD systems.
Competitive landscape analysis
To reduce their environmental impact, leading organisations are focused on quality control and supply chain management, as well as establishing extremely effective computer-aided detection systems that adhere to safety laws. Government attempts to widen the uses of CAD with various modalities, as well as major player strategies to create innovative computer assisted detection technologies, are expected to boost the market.
As an example:
- GE Healthcare offers diagnostic imaging systems, healthcare information technology solutions, radiography, and fluoroscopy. SenoClaire, SenoBright CESM, and Pristina Serena 3D devices are among its mammography systems.
- Paragon Biosciences LLC established Qlarity Imaging LLC in 2019 to develop QuantX, a computer-aided detection method for breast cancer.
Some of the leading companies operating in the market are :
- Hologic Inc.
- GE Healthcare
- EDDA Technology, Inc.
- Riverain Technologies
- Invio Corporation
- Median Technologies
- Esaote
- Siemens Healthineers
What insights does the Computer Aided Detection report provide to the readers?
- Computer Aided Detection fragmentation on the basis of product type, end use, and region.
- Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
- Collaborations, R&D projects, acquisitions, and product launches of each Computer Aided Detection
- Various regulations imposed by the governments on the consumption of Computer Aided Detection in detail.
Key Segments of Computer Aided Detection Industry Research
- By Imaging Modality :
- Mammography
- MRI
- CT
- Tomosynthesis
- Others
- By Application :
- Oncology
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Prostate Cancer
- Liver Cancer
- Bone Cancer
- Cardiovascular & Neurological Indications
- Others
- Oncology
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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