U.S. Computer-Aided Detection (CAD) Market Generated Opportunities, Future Scope 2021-2028 | iCAD, Inc., Koninklijke Philips N.V., Hologic

Computer-aided Detection (CAD) software constitutes a set of algorithms, which uses pattern recognition method predominantly to aid radiologists in detecting potentially diseased lesions or regions in the human body.

The U.S. computer-aided detection (CAD) market is estimated to account for US$ 491.2 Mn in 2020 terms of value and is expected to reach US$ 680.1 Mn by the end of 2027

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U.S. Computer-aided Detection (CAD) Market: Drivers

Increase in prevalence of cancer is expected to propel growth of the U.S. computer-aided detection (CAD) market over the forecast period. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.

Moreover, increasing demand for CAD solutions in multidisciplinary facilities is also expected to aid in growth of the market. CAD unit installations are increasing in multispecialty hospitals. Versatile diagnostic systems are preferred in multispecialty hospitals, owing to benefits such as cost-effectiveness and greater return on investment.

Breast CAD held dominant position in the U.S. computer-aided detection (CAD) market in 2019, accounting for 71.9% share in terms of value.

U.S. Computer-aided Detection (CAD) Market: Restraints

Inadequate reimbursement policies are expected to hinder growth of the market. There have been various advancements in radiology with regard to imaging equipment in the recent past. However, most medical insurance companies do not offer reimbursement for procedures using CAD. As a result, people tend to choose conventional methods for diagnosis such as biopsy, pathological test or conventional imaging methods such as mammography, and MRI procedures.

Moreover, lack of trained radiologist and technicians is also expected to limit growth of the market. Radiologists and technicians are required to have the prerequisite technical skills to operate CAD systems. Lack of trained radiologists and technicians is a factor restraining growth of the market.

U.S. Computer-aided Detection (CAD) Market: Opportunities

Availability of single packaged software solution for multiple applications is expected to offer lucrative growth opportunities for players in the market. Most software are specifically designed to analyze images from one modality for specific indication. CAD software that can be used to analyze images from more than one modality are available in the market. However, demand could increase if a single software was developed with capability of analyzing images from different modalities for many indications without complications. This would reduce costs on hospitals as there would be need to purchase a single CAD software instead of one for each indication.

Moreover, more flexibility in licensing and renewal process of CAD software is also expected to aid in growth of the market. Currently, most software providers offer a one-year license agreement, which can be renewed for another year by paying 70% of the actual cost. Increasing the licensing period and reducing the renewal cost is expected to fuel growth of the market.

Market Trends/Key Takeaways

Major players in the market are focused on launching new products for diagnosing pandemic diseases. For instance, in March 2020, Delft Imaging partnered with Thirona, Radboudumc, Bernhoven,(Netherlands), HT médica (Spain) and Fakultas Kedokteran UI (Indonesia) to develop CAD4COVID (Computer Aided Detection for COVID-19) to help triage patients and inform the care pathway.

The U.S. FDA is focused on shifting responsibility for periodic software updates to manufacturers through its yet-to-be finalized software precertification program in order to reduce certification hurdles for developers of software-based medical devices.

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U.S. Computer-aided Detection (CAD) Market: Key Developments

Major players in the market are focused on product approval and launch to expand their product portfolio. For instance, in July 2019, Paragon Biosciences LLC launched its seventh portfolio company, Qlarity Imaging LLC, which is expected to develop QuantX, the U.S. Food and Drug Administration (FDA)-cleared CAD diagnosis system for breast cancer.

Major Players Are Operating In This Market Are: iCAD, Inc., Koninklijke Philips N.V., Hologic, Inc., Carestream Health, Inc., Siemens AG, GE Healthcare, EDDA Technology, Inc., and Fujifilm Holdings Corporation.

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