Tag Archives: Computer Aided Detection Market

Computer Aided Detection Market is expected to reach US$1 bn by 2024

Transparency Market Research has published a new market report titled, “Computer Aided Detection Market: (By Imaging Modality: Mammography, Magnetic Resonance Imaging, Ultrasound Imaging, Tomosynthesis, Computed Tomography, and Others; By Application: Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Liver Cancer, Bone Cancer, and Cardiovascular and Neurological Indications): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024.” According to the report, the global computer aided detection market was valued at US$ 437.0 Mn in 2015 and is projected to expand at a CAGR of 9.8% from 2016 to 2024 to reach US$ 1,015.60 Mn in 2024.

Computer aided detection is a technique that helps radiologists to interpret radiology images accurately and identify potential findings in order to avoid incorrect interpretations. There has been significant advancement in medical imaging technology since the late 1980s. The calculating ability of computers and quality of digital medical imaging have improved. This has led to widespread usage of computer aided detection systems. The global computer aided detection market is concentrated in the developed regions of the world. Additionally, rising patient awareness levels because of awareness programs organized by breast cancer charities is likely to drive the market, as these programs encourage women to undertake regular medical examinations.

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Geographically, the computer aided detection market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the largest share of 62.8% of the global computer aided detection market in terms of revenue in 2015, followed by Europe. Dominance of these two regions is due to rise in incidence and prevalence of breast cancer, growing awareness about early breast cancer screening, increase in the geriatric population, and rapid advancement in technologies. The U.S. held a major share of the market in North America as well as globally. According to World Cancer Research Fund (WCRF) statistics, North America had the highest number of new breast cancer cases in 2012 (around 226,125 in the U.S. alone).

The region is a major innovation hub, where leading companies in the segment conduct research and development.

Europe accounted for the second largest share of the global computer aided detection market in 2015 due steady rise in incidence of cancer and coronary artery diseases and introduction of a large number of white papers and publications validating the efficiency of CAD as a supportive diagnostic tool. According to the European Journal of Cancer published in 2013, breast cancer was the leading type of cancer in women in Europe. A report published by the European Union stated that breast, prostate, and colon cancers, and coronary artery diseases act as the largest cause of death in Europe. Countries such as Germany, France, Spain, and Italy have the highest growth rate of various types of cancers. According to the WHO, 450,000 new cases of colorectal cancer were reported in the WHO European Region, and 232,000 deaths in 2008. About 65% of all the new cases occur in high-income countries. Growing health care awareness among the population, need for digitization in the health care sector, and accuracy in detecting cancerous lesions are likely to drive demand for CAD in Europe.

Asia Pacific accounts for over 60% of the world’s population, which translates to a significant patient pool and large number of imaging procedures. According to the Asian Pacific Journal of Cancer Prevention (2010), there were more than 3 million new cancer cases and over 2 million cancer deaths in Asia. Projections suggest the number of new cancer cases in Asia will increase to 7.1 million by 2020 if existing prevention and management strategies remain unchanged. However, most of the countries in the region are positioning themselves as medical tourism destinations for developed nations. This will encourage health care providers to adopt advanced CAD in imaging technologies.

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The computer aided detection market in Latin America, Africa, and the Middle East is in the development phase. According to the Cancer Atlas, about 1.1 million new cancer cases and 600,000 cancer deaths are estimated to occur in Latin America and the Caribbean each year. Prostate cancer is the leading cause of cancer death among males, with about 51,000 deaths annually, followed by lung cancer and stomach cancer. Breast cancer is the leading cause of death among females, with about 43,000 deaths annually, followed by cervical and lung cancer. Furthermore, the burden of cancer is increasing in Africa because of the rapidly aging and growing population, and high prevalence of risk factors associated with economic transition, including smoking, obesity, physical inactivity, and reproductive behaviors. Latin America is one of the most promising regions for the growth of the medical imaging market, with Mexico and Brazil being the largest markets. Growing awareness about diagnostic procedures, low cost of imaging procedures, and rising investment in health care facilities and infrastructure are likely to drive the computer aided detection market in Brazil during the forecast period.

Hologic Inc., GE Healthcare, Invivo Corporation, Siemens Healthcare, and Agfa-Gevaert N.V. are the major players operating in the global computer aided detection market. Hologic Inc. was identified as the leading player in the global computer aided detection market in 2014, accounting for a share of over 35% in terms of revenue, followed by GE Healthcare and Invivo Corporation.

 

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Computer Aided Detection Market: Business Challenges, Emerging Technologies & Competitive Landscape

Computer aided detection (CAD) is a clinically established tool that helps in the diagnosis or detection of cancers, and cardiovascular and neurological diseases. These systems assist physicians to decrease false negative rate, detect cancer at early stages, reduce mortality rates caused due to cancer and other diseases, and improve inter and intra reader variability. Additionally, CAD systems are extensively used to help physicians in numerous tasks that include providing a second opinion to the diagnostic and detection outcomes and automatically recognizing all non-calcified lesions doubted of malignancy at images. A CAD system helps in diagnosis, detection, and risk assessment. The purpose of using a computer and CAD tools is to help in medical image diagnosis. Technologically advanced CAD systems provide a moderately trained physician the same diagnostic skills as an experienced radiologist. CAD has also been used to increase the sensitivity of diagnostic imaging in medical investigation and differential diagnostics.

This research study analyzes the market for computer aided detection in terms of revenue (US$ Mn). The market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments of the market. The report also includes key market dynamics, such as drivers, restraints, and opportunities, affecting the demand for computer aided detection products globally and country wise. Comparative analysis has also been included in the executive summary for each region of 2016 and 2024.

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The report provides in-depth analysis of the computer aided detection market. The stakeholders of this report include companies engaged in the manufacture of CAD products used along with medical imaging equipment in screening of cancers and other diseases. The executive summary section is included in this report to provide a snapshot of the market. It summarizes the market size, trends, and competition in different regions.

The market overview section of this report analyzes market dynamics such as drivers, restraints, and opportunities that influence the computer aided detection market in the current and future scenario. Market share analysis is provided to signify percentage share of the major players operating in the computer aided detection market. These factors will help the market players to chalk out business strategies and plans to strengthen their positions in the global market.

Based on application, the computer aided detection market has been segmented into breast cancer, lung cancer, colorectal cancer, prostate cancer, liver cancer, other cancers, and other disease. In terms of imaging modality, the market has been segmented into mammography, magnetic resonance imaging, ultrasound imaging, tomosynthesis, CT, and others.

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In terms of region, the computer aided detection market has been segmented into four major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Moreover, analysis for the major countries such as the U.S., Canada, Germany, the U.K., Japan China, Russia, Brazil, Mexico, and South Africa have been provided in the report. A detailed qualitative analysis of the factors responsible for driving and restraining the growth of the market in various regions has been provided in this section.

The report provides market estimation of the computer aided detection market in terms of revenue (US$ Mn) for all the segments and sub segments, with CAGR % for the period from 2016 to 2024, considering 2015 as the base year. Furthermore, the report incorporates market attractiveness analysis by product category that depicts the most attractive product segment in the global market during the forecast period from 2016 to 2024.

This report also includes a recommendations section that will assist new companies to establish their presence and existing market players to expand their market shares in the computer aided detection market. The report concludes with the company profile section, which includes company overview, financial overview, product portfolio, business strategies, and recent developments of market players. Key players profiled in the report include Agfa-Gevaert N.V., Fujifilm Medical Systems USA, Inc., GE Healthcare, Hitachi Medical Corporation, Hologic, Inc., Samsung Medison Co. Ltd, and Philips Healthcare.

 

Computer Aided Detection Market is expanding at a strong CAGR of 9.8% from 2016 to 2024

Computer Aided Detection Market: Snapshot

The global computer aided detection (CAD) market is in its early stages of growth and is increasingly reliant on the market dynamics of corresponding imaging modalities for market penetration. The growing usage of CAD software solutions for a number of diagnostic applications such as cardiovascular, oncology, musculoskeletal, and neurological has made the market highly specific, dynamic, and competitive with significant growth potential. The revenue generated by the global CAD market was pegged at US$437 mn in 2015 and is anticipated to cross US$1 bn by 2024. The market is expected to expand at a strong CAGR of 9.8% from 2016 to 2024.

Computer Aided Detection Most Widely Used in Breast Cancer Screening

Computer aided detection technology finds application mainly in oncology and cardiovascular and neurological indications. Breast cancer was the leading application segment of the market in 2015 and is projected to sustain its position during the forecast period. Its dominance can be attributed to the increasing number of breast cancer detection applications and a lower risk of observational errors by using CAD solutions in combination with mammography. Favorable reimbursement scenario for breast cancer CAD solutions in developed nations and its well-established identity as a supplement tool in the diagnosis of breast cancer also contribute to the growth of the segment. The prostate cancer application segment is projected to expand at the fastest growth rate from 2016 to 2024. This can be attributed to the increasing number of regulatory approvals for various prostate cancer detection CAD solutions and the rising incidence of the disease.

Growing Incidence and Prevalence of Breast Cancer in U.S. Driving North America Market

Geographically, the computer aided detection market has been segmented into five major regions: North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. North America held the leading share in the global computer aided detection market in terms of revenue in 2015, followed by Europe. The dominance of these two regions is owing to the rising incidence and prevalence of breast cancer, the growing awareness level about early screening of breast cancer, an increase in the geriatric population, and rapid advancement in various healthcare technologies. The U.S. forms the most significant market for computer aided detection in North America as well as globally as it is an important innovation hub and leading companies in the segment have been conducting thorough research and development. Moreover, the World Cancer Research Fund (WCRF) statistics show that North America reported the highest number of new breast cancer cases in 2012, with around 226,125 in the U.S. alone. This also acts as a growth driver for the computer aided detection market in the region.

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Asia Pacific is also a prominent market for computer aided detection. The region accounts for over 60% of the world’s population, which translates to a significant patient pool and large number of imaging procedures. According to the Asian Pacific Journal of Cancer Prevention (2010), there were over 3 million new cancer cases and over 2 million cancer deaths in Asia. Projections suggest the number of new cancer cases in Asia will increase to 7.1 million by 2020 if existing prevention and management strategies remain unchanged. However, most of the countries in the region are positioning themselves as medical tourism destinations for developed nations. This will encourage healthcare providers to adopt advanced computer aided detection in imaging technologies.

Key players in the computer aided detection market include Agfa-Gevaert N.V., Fujifilm Medical Systems USA, Inc., GE Healthcare, Hitachi Medical Corporation, Hologic, Inc., Samsung Medison Co. Ltd, and Philips Healthcare.

 

The Evolution of Computer Aided Detection Market 2014 – 2020

According to a new market report published by Transparency Market Research “Computer Aided Detection Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020,” the global computer aided detection market was valued at USD 0.72 billion in 2013 and is expected to grow at a CAGR of 10.8% from 2014 to 2020, to reach an estimated value of USD 1.47 billion in 2020.

Computer Aided Detection (CAD) is a technique that can help radiologists precisely interpret images and procure potential findings to avoid erroneous interpretation, thereby enhancing the error free diagnosis of various diseases. Currently, the global CAD market is in early growth stage and is highly reliant on its corresponding imaging modality market dynamics for its market penetration. With the increasing use of CAD software solutions for various diagnostic applications such as oncology, cardiovascular, neurological and musculoskeletal, the market can be described to be highly specific, dynamic and competitive with substantial growth potential.

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Rising incidence of various types of cancer such as breast, lung, prostate and colorectal cancer is the primary responsible factor for the growth of CAD market. Additionally, advancements in digital imaging techniques, improved efficiencies of CAD solutions, ease of integration of CAD solutions with various imaging equipment and growing awareness among the patients about early detection of cancer have boosted the overall growth of this market. Further, expansion of CAD applications to newer clinical areas, active research and development activities in medical imaging, rapid transition of hospitals to promote automatic workflow integration in their current work environment and rising installation base of CAD solutions in various multispecialty hospitals is further expected to accentuate the growth of this market in coming years. However, certain restraining factors such as lack of adequate clinical data validating the clinical efficacy of CAD solutions in its role of early diagnosis of the disease, disinclination of healthcare professionals in accepting these solutions as a standard imaging tool and premium pricing might hamper the growth of this market. Similarly, unfavorable taxation and lack of favorable reimbursement policies in the European and Asian governments have also negatively impacted the growth of this market.

The CAD market for breast cancer application was estimated to be the largest market with a share of more than 70% in 2013 and is predicted to maintain its leading position until the end of forecast period i.e. 2020. Such dominance is observed mainly due to the increasing number of breast cancer detection applications and lower risk of observational errors by using CAD solutions in combination with mammography. Digital mammography offers significantly better diagnosis in early detection of breast cancer than film mammography. Additionally, favorable reimbursement scenario for breast cancer CAD solutions in developed nations and its well-established identity as a supplement tool in diagnosis of breast cancer is further aiding the growth of this market. Simultaneously, in terms of growth rate, the CAD market for lung cancer application is forecast to grow at the fastest growth rate from 2014 to 2020. The faster growth rate of lung cancer CAD market has been attributed to the increasing number of regulatory approvals for various lung cancer detection CAD solutions and rising incidence of the disease.

Geographically the North American market accounted for the largest share of overall CAD market in 2013. However, Asia-Pacific countries namely Japan, South Korea, Malaysia, Australia, Thailand, India and China are witnessing fast growth and are predicted to emerge as opportunistic markets in the near future owing to growing awareness among patients, education on the importance of early screening by various government agencies and NGOs and increased disposable income in these nations. Additionally, growth in medical tourism in this region is also boosting the adoption of CAD solutions in various multispecialty hospitals.

The major players of this market include Hologic, Inc. iCAD, Inc., Agfa-Gevaert N.V., EDDA Technology, Inc., Fujifilm Medical Systems, Inc., GE Healthcare Ltd., Hitachi Medical Corporation, Invivo Corporation, VuCOMP, McKesson Corporation, Philips Healthcare, Siemens Healthcare, etc.

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The global computer aided detection market is segmented as follows:

Computer Aided Detection Market, by Application

  • Breast Cancer
  • Mammography
  • Magnetic Resonance Imaging
  • Ultrasound Imaging
  • Tomosynthesis
  • Nuclear Imaging
  • Lung Cancer
  • Colorectal Cancer
  • Prostate Cancer
  • Liver Cancer
  • Boner Cancer
  • Neurological/Musculoskeletal/Cardiovascular

Computer Aided Detection Market, by Imaging Modalities

  • X-Ray Imaging
  • Computed Tomography
  • Ultrasound Imaging
  • Magnetic Resonance Imaging
  • Nuclear Medicine Imaging
  • Others

Computer Aided Detection Market, by Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (RoW)

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