Global Computer Aided Detection Market: Overview
Computer Aided Detection (CAD) is a clinically established tool that helps in the diagnosis or detection of cancer, cardiovascular and neurological diseases. This tool works by assisting physicians in decreasing the false negative rate, detecting cancer at early stages, reducing the mortality rates for cancer and other diseases, and improving inter and intra reader variability. In addition, 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. The global computer aided detection market is estimated to be worth US$1115.3 mn by the end of 2025, as the market promises to exhibit a CAGR of 9.8% from 2017 to 2025.
Oncology Segment to Continue Dominance as Awareness about Cancer Spreads
The CAD market is broadly classified on the basis of application, imaging modalities and geography. Oncology segment dominates the global computer aided detection market by application with market share of 92.4% in 2016. The increasing awareness about various types of cancers and introduction of advanced technologies are projected to benefit the rise of this segment. Imaging modalities such as mammography, magnetic resonance imaging (MRI), ultrasound imaging, tomosynthesis, computed tomography (CT), and others have also been studied for the purpose of understanding their impact on the overall market.
Mammography is the oldest segment of CAD application owing to the traditional methods like simple breast X-ray, which were used for detection breast cancer. Growth of the segment is attributed with increasing awareness of breast cancer and rising demand for CAD installations in large multispecialty hospitals. The improving versatility of this technology is also expected to promote its dramatic rise in the near future. Increasing research activities to use computer aided detection techniques in diagnostics have also accelerated the growth of the segment.
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North America Leads CAD Uptake with Rise in Breast Cancer Incidences
North America accounted for the largest share in the global computer aided detection (CAD) market in 2016 owing to the rising incidences of breast cancer in the region. This gradually impacted to other cancer applications and found increased appreciation among medical practitioners. The European region later followed the same suit but majorly in breast cancer segment. The Asia-Pacific region on the other hand is expected to represent the highest growth rate during the forecast period owing to the growing incidence of cancer in these regions. WHO states that more than 3 million new cases are registered each out of which 1.7 million meet a fatal end.
This makes cancer is the second most common cause of death and morbidity in Europe. Europe comprises only one eighth of the world’s population; however, the region has accounts for one fourth of the global cancer cases. According to the American Cancer Society, 246,660 women were diagnosed with non-invasive breast cancer in 2016. The survival rate of breast cancer varies across the world, ranging from 80% in North America, Japan, and Sweden to 60% in middle income developing countries, and 40% in lower income developing countries.
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The major players of this market include Agfa-Gevaert N.V, iCAD, Inc., Hologic, Inc., G.E Healthcare Ltd, Invivo Corporation, Philips Healthcare, Siemens Healthcare, Toshiba Medical Systems Corp., and McKesson Corporation. Hologic, Inc. was the leading player in the global computer aided detection (CAD) market.