Computer Aided Diagnostics Cadx Market | Contrive Datum Insights

Market Overview:

The global Computer Aided Diagnostics (CAD) Market size was valued at USD 5.62 Billion in 2022. It is expected to expand at CAGR of 13.3% from 2022 to 2030.

{{info}}

The use of computer-generated imaging software to assist clinicians in caring for their patients is called as computer-aided diagnosis (CAD). In recent years, radiologists have used this technique often more prevalently. Researchers discovered that computer-aided diagnostics are becoming increasingly effective at detecting breast cancer. Artificial intelligence is increasingly being employed in the field of health care, making diagnosis easier, more convenient, and more accurate. Computer-aided diagnostics (CAD) is most commonly used to detect breast cancer, but it can also be used to detect other types of cancer. Mammography is a method of investigating images to detect breast cancer.

Computer aided detection is designed to reduce observational oversights and false-negative readings. Using modalities like X-ray imaging, computed tomography, mammography, and ultrasound imaging, it aids in the diagnosis and early detection of different types of cancer, neurological diseases, and cardiovascular disorders., and magnetic resonance imaging. The introduction of CAD has made it easier to diagnose and treat complex cases. Because of technological advancements, CAD provides high accuracy, error-free results, and requires less time to interpret images. Healthcare professionals use CAD systems to perform a variety of tasks, including automatic detection of all non-calcified lesions suspected of malignancy.

COVID--19 impact:

Due to COVID-19, the government has put in place many strict rules and guidelines that have hurt the healthcare market. Due to the lockdown, fewer people were able to go to hospitals, diagnostic centres, and research centres to get checked for breast cancer, lung cancer, colon/rectal cancer, prostate cancer, liver cancer, bone cancer, or neurological/musculoskeletal/cardiovascular cancer. This had a small effect on the computer-aided detection (CAD) market.

But the market is likely to get back to where it was after COVID-19, since the major players are working on new innovations and developments that could speed up the growth of the market around the world.

Market Dynamics:

Growth Drivers:

The most important thing driving growth in this market is the rising number of cases of breast, prostate, and lung cancer. The market is also projected to grow faster because the government is doing more to spread information about cancer and its treatments.

The growth of the market is likely to be slowed by the fact that more and more patients are choosing diagnostic imaging techniques. Also, its use in clinical and research and development activities, as well as growing awareness among healthcare professionals about its benefits, such as being able to accurately spot chronic diseases in their early stages and lowering death rates from cancer, cardiovascular, and neurological diseases, are expected to drive market growth. Also, the growth of the market will be slowed by how much money is spent on healthcare in emerging economies and how much money people have to spend on themselves.

Increase in Prevalence of Chronic Diseases:

The Computer Aided Detection Market is growing because the number of people with chronic diseases is going up. Computer-aided detection solutions work better and are more efficient because more people are aware of how to treat cancer, get regular medical checkups, and use advanced digital imaging techniques. Easy integration with different imaging equipment makes it possible to find chronic diseases early, and it can also be used in research and development. Medical tourism and the gradual rise in the number of people who want health insurance are also good for computer-aided detection. So, the Computer Aided Detection Market is likely to grow during the period from 2021 to 2026.

Availability of Health Insurance Policies:

The Computer Aided Detection Market is growing because more and more people have health insurance. Having health insurance is important because it lets you get the best medical care without worrying about money. It protects against the high medical costs that come with computer-aided detection and pays for things like hospital stays, day care, and other costs. With health insurance, you can worry about getting better quickly instead of the high costs of computer-aided detection. So, the Computer Aided Detection Market is likely to grow during the period from 2021 to 2026.

Opportunities:

Also, new digital image processing techniques have made computer-aided detection solutions more effective and efficient. This gives market players chances to make money from 2022 to 2029, which is the time frame for the forecast. Investing in research and development of computer-aided detection with 3D imaging will also help the growth rate of the computer-aided detection (CAD) market in the future.

Challenges:

On the other hand, market growth is likely to be slowed by things like undesirable healthcare expenditure, a lack of trained professionals to run systems, and low awareness in rural areas. Also, the costs of computer-aided detection (CAD) tools are going up, and there is a chance that they won't be able to find abnormalities. This is expected to be a problem for the computer-aided detection (CAD) market between 2022 and 2029.

This computer-aided detection (CAD) market report includes information about recent events, trade laws, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market participants, and opportunities are analysed in terms of new revenue pockets, modified market laws, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, and product launches. By getting an Analyst Brief from Data Bridge Market Research to learn more about the market for computer-aided detection (CAD). The staff will help to make a well-informed choice about how to grow your market.

Some of the key players profiled:

Profiles of different top key players have been done to learn more about the businesses. It gives a lot of information about the top-level industries that are working in different parts of the world. It has important information like company overviews, contact information, and strategies used by key players like Cadens Medical Imaging, EDDA Technology, Inc., Fujifilm, GE Healthcare, Hologic Inc., iCAD Inc., Invivo Corporation, Koninklijke Philips N.V., Median Technologies, Merge Healthcare Inc., Neusoft Corporation, Parascript LLC, Riverain Technologies, Samsung Medison Co. Ltd., Siemens Healthineers, Agfa Healthcare, and others.

Strategic Developments:

• In January 2019 - Hitachi High-Technology Corporation obtained all shares of Applied Physics Technologies, Inc., a U.S. manufacturer of electron sources. Applied Physics Technologies manufactures and sells electron sources for electron microscopes and other instruments.
• In September 2019 - FUJIFILM Medical Systems obtained a stake in Yokogawa Medical Solutions Corporation, a provider of IT systems for radiology departments. FUJIFILM provides a variety of medical information technology systems and products worldwide, including picture-archiving communication systems.
• In March 2020 - Hexagon AB announced the acquisition of CAE fatigue Limited, a provider of mechanical fatigue simulation solutions, to improve product design and manufacturing. Through this acquisition, the former company aims to boost its simulation solutions for smart factories. 

Segmentation Analysis:

The market for computer-aided detection (CAD) is divided up by type, application, and region. The growth of these segments will help you analyze industries with limited growth. It will also give users a brief outline of the market and market insights that will help them make strategic decisions about identifying key market applications.

On the Basis of Type:

The market for computer-assisted detection (CAD) is divided up into mammography, MRI, ultrasound imaging, tomosynthesis, and nuclear imaging. Mammography is the most common technique of breast CAD imaging.

• Mammography
• Magnetic Resonance Imaging (MRI)
• Ultrasound
• Tomosynthesis
• Computed Tomography (CT)

On the Basis of End-Use:

Based on end-use, global computer aided diagnosis market is divided into hospitals, clinics, medical diagnostic centres, and others. The hospitals segment reported for largest revenue share in 2021. Thyroid and gall bladder problems can be diagnose using ultrasound imaging, while MS, spinal cord diseases, cranial ailments, and cancer can be detected using MRI. Hospitals are well equipped with high end ultrasound imaging or MRI devices, therefore, majority of patients suffering from ailments prefer to receive professional consultation in hospitals.

The clinic segment reported for a steady revenue share in 2021. Increasing patient awareness regarding utility of cancer detection at the early stage is a key factor driving market revenue growth. For instance, in March 2020, Centres for Disease Control and Prevention (CDC) launched a campaign named Bring Your Brave, which is aimed at providing precautionary information regarding breast cancer to women under the age of 45.

• Hospitals
• Clinics
• Medical diagnostic centres
•  

On the Basis of Application: 

Based on application, the global computer aided diagnosis market is divided into breast cancer, lung cancer, liver cancer, and others. The breast cancer segment accounted for largest revenue share in 2021. Breast cancer is the leading type of cancer in women in 140 out of 184 countries worldwide. Breast cancer occurs due to exceeding level of cell division or hyperplasia of mammary epithelial cells. In 2021, the lung cancer market had a consistent revenue share. A significant element boosting this segment's market revenue is the rising prevalence of lung cancer. According to NCI, there have been 23,00,000 instances of lung cancer worldwide, which have resulted in 13,00,000 deaths. Hyperplasia in alveolar epithelial cells is thought to be the primary cause of lung cancer formation. Another significant factor fuelling the rise of the market's revenue is the increase in global funding for research into lung cancer, breast cancer.

• Lung Cancer
• Liver Cancer
• Oncology
• Others

Regional Insights:

In terms of economic output, Asia Pacific is expected to have a CAGR of 8.6% over the next few years. During the forecast period, the Asia-Pacific market is expected to grow at a faster rate as compared to other regional market. Some of the main things that are expected to help the market grow are technological advances in the healthcare field and diagnostic centers with enough facilities. During the forecast period, China, India, Japan, Australia, and Korea are expected to continue to bring in a lot of money.

{{info2}}

Europe has a big share of the market for computer-aided diagnostics around the world. Some of the primary consideration driving the market growth is the growing use of artificial intelligence and the good coverage for healthcare and advantages in countries in the region. On the European market, the UK, Germany, France, Italy, Spain, and Russia all bring in a lot of money.

Computer-aided diagnostics also have a big market in North America. The growth of the North American market is helped by the fact that more money is being put into the healthcare sector. This has led to better and more advanced healthcare facilities, infrastructure, and processes, and regional and national governments are using more health screening awareness programs. During the forecast period, the US is expected to continue to bring in a much larger share of revenue than any other country.

The global Computer-Aided Diagnosis (CAD) market has been looked at in different parts of the world, including North America, Europe, Asia-Pacific, Latin America, the Middle East, and India. In the near future, this market will be controlled by the global region.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Key Vendors:

The global market for computer-aided detection is very competitive and has many key players from around the world and around the region. These players have used new product launches, agreements, mergers and acquisitions, and partnerships, among other things, to maintain their market positions and grow their product lines. Some of the biggest companies in the global computer-aided detection market are

• Hitachi High Technologies Corporation

Hitachi High-Tech was formed in 2001 through a merger of three companies that created a unique combination of manufacturing, sales, and service capabilities. The Instruments Group of Hitachi, Ltd. brought an established reputation in measuring technologies; the Semiconductor Manufacturing Equipment Group of Hitachi, Ltd. supported the efficiency of technology and the realization of more sophisticated performance; and Nissei Sangyo Co., Ltd., provided both a trading function specialized in cutting edge technology, with a focus on electronic products, and the ability to construct new businesses based on its global network

• Vucomp

VuCOMP, designs, develops, and markets computer-aided detection (CAD) systems for automatic analysis of medical images. It offers M-Vu CAD, a system that assists radiologists by identifying areas of a mammogram that are consistent with breast cancer. The solution is based on SmartMarks annotations that indicate detected regions with outlines that conform to the shape and size of the regions without obscuring important structures. The systems are compatible with digital mammography systems. VuCOMP was founded in 2001 and is headquartered in Plano, Texas. In Jan 2016, I Cad acquired VuCOMP cancer detection portfolio.

• Siemens Healthcare

Siemens Healthineers is a leading medtech company with over 125 years of experience. The portfolio, spanning from in-vitro and in-vivo diagnostics to image-guided therapy and innovative cancer care, is crucial for clinical decision-making and treatment pathways.

• EDDA Technology

EDDA Technology, Inc. is an innovative leader in the rapidly growing field of imaging-guided cancer treatment. By adopting a fully quantitative, real-time interactive approach to imaging analysis, simulation and guidance, our next generation computer-assisted radiology and surgery solutions go well beyond advanced 3D image visualization.

• McKesson Corporation

McKesson Corporation is an impact-driven healthcare organization dedicated to “Advancing Health Outcomes for All.” It works with biopharma companies, care providers, pharmacies, manufacturers, governments, and others to deliver insights, products and services that make quality care more accessible and affordable.

• iCAD

As a global medical technology leader providing innovative cancer detection and therapy solutions, iCAD technologies empower clinicians worldwide with an arsenal of tools to detect cancer and stop it in its tracks – streamlining workflow, improving accuracy, and personalizing results like never before.

• GE Healthcare

As a leading global medical technology and digital solutions innovator, GE HealthCare enables clinicians to make faster, more informed decisions through intelligent devices, data analytics, applications and services, supported by its Edison intelligence platform.

• Riverain Technologies

Riverain ClearRead solutions significantly improve a clinician’s ability to accurately and efficiently detect disease in thoracic (lung) CT and XR images and more successfully address the challenges of early detection of lung disease

• Invio Corporation

Invivo is a business of Royal Philips and has over a 20-year history as the pioneer of progressive MRI coils, advanced clinical visualization systems, and MRI-compatible interventional devices. Invivo is committed to providing technology solutions to keep pace with the needs of a growing healthcare market.

• Median Technology

Median Technologies provides innovative imaging solutions and services to advance healthcare for everyone. We harness the power of medical images by using the most advanced Artificial Intelligence technologies, to increase the accuracy of diagnosis and treatment of many cancers and other metabolic diseases at their earliest stages and provide insights into novel therapies for patients.

Scope of Report:

Conclusion:

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors.
• Provision of market value (USD Billion) data for each segment and sub-segment
  Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market.
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region.
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.