Computer Aided Detection Market Prevalent Opportunities up to 2024

Computer Aided Detection (CAD) software is a set of algorithms that uses pattern recognition method predominantly to aid physicians for interpretation of medical images. Increasing number of patients opting for diagnostic imaging techniques is expected to propel the volume of image data to be analyzed. This factor increases the probability of risk for failure in detecting abnormalities. To rectify this situation, CAD as a diagnostic analysis technology was introduced to assist physicians in reducing detection errors. This is achieved by using the clinical images generated through various imaging modalities such as X-Ray imaging, MRI, and computed tomography and ultrasound imaging.

In recent years, the global CAD market experienced strong growth owing to increasing awareness of cancer diagnosis in early stages. Incidences of various types of cancers such as lung, prostate, breast and colorectal cancer is gradually increasing. For instance, the American Cancer Society estimated that more than one Mn people in U.S. are diagnosed with cancer every year and in 2012, 14.1 Mn new cases of cancer were reported. It has also been reported that in the same year, 8.2 Mn people died of cancer, which accounted for 14% of the overall deaths in 2012. Cancers such as colorectal, lung, stomach, breast, prostrate, cervical cancer and leukemia are the most common types of cancer. A publication in association with the World Health Organization (WHO) and the International Agency for Research on Cancer (IARC), stated that occurrence of cancer increased with the growing age of individuals.

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Increasing awareness of successful cancer treatment which needs early diagnosis is driving the population towards routine checkups and is expected to boost global CAD market growth during the forecast period. Furthermore, availing health insurance requires mandatory pre-screening tests for chronic diseases. Thus, as the demand for insurance will gradually increase, the need for precise screening tools shall also increase correspondingly.

Hence, growth in demand for insurance policies is expected to increase the adoption rate of CAD solutions in diagnostic tools. High preference for digital breast tomosynthesis is another factor that drives the growth of the global computer aided detection market. In digital breast tomosynthesis, the radiation is more concentrated and imaging is done of the complete breast with limited degree scan. Most of the imaging done is by reconstruction and is generally based on expectation–maximization algorithm. Digital breast tomosynthesis is, therefore, a computer aided detection wherein great computational power and image construction algorithm is required to produce detailed images of the breast.

Technological advances such as evolution of artificial intelligence (AI) is expected to augment the continuous development of the global CAD market. The evolution of artificial intelligence globally is projected to drive growth of detection and diagnostics, and be a valuable asset in the investigation of cancer. This factor is anticipated to boost the growth of the global computer aided detection market in forecast period.

Based on application, breast cancer segment is expected to contribute largest share in global computer aided detection market due to increasing incidences. According to the World Cancer Research Fund International, breast cancer is the most common cancer in women globally, with nearly 1.7 Mn new cases detected in 2012. Additionally, breast cancer accounted for about 12% of all new cancer cases and 25% of all cancers in women. Based on end users, the global computer aided detection market has been segmented into hospitals, clinics, diagnostic centers and research centers. Hospital end user segment is expected to contribute the maximum share among end users.

On the basis of regional presence, global computer aided detection market is segmented into five key regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to lead the global computer aided detection market due to high adoption of CAD in cancer diagnosis. The European region is anticipated to be the second largest market with a prominent share of the breast cancer segment through 2024. The Asia-Pacific and Latin America region on the other hand are expected to represent the highest growth rate during the forecast period owing to the growing incidence of cancer in these regions. The Middle East & Africa market is not well established as compared to the other regions.

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Some of the major players in global computer aided detection market are Hologic, Inc. iCAD, Inc., Agfa-Gevaert N.V., EDDA Technology, Inc., Fujifilm Medical Systems, Inc., Invivo Corporation, GE Healthcare Ltd., Philips Healthcare, Hitachi Medical Corporation, Siemens Healthineers, etc.

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