Computer Aided Detection (CAD) Market Size, Competitors Strategy, Regional Analysis & Industry Growth by Forecast 2028

Market size: USD 690.3 Million 2020, Market Growth: CAGR of 10.9%, Market Trends: Increasing demand for CAD systems in multidisciplinary facilities

NEW YORK, NY, UNITED STATES, March 25, 2022 /EINPresswire.com/ -- The global computer aided detection (CAD) market size is expected to reach USD 1579.5 million in 2028 and register a CAGR of 10.9% according to the latest report by Reports and Data. Growing need for computational assistance for error-free, precise detection and rising awareness about importance of early diagnosis of diseases to minimize death rates are key factors fueling global market revenue growth. 

Computer Aided Detection (CAD) is a software system that helps in detecting various types of cancers, neurological or cardiovascular disorders using various imaging modalities such as computed tomography, tomosynthesis, and magnetic resonance imaging. It aids in reducing observational oversights, false-negative results, and provides error-free results in minimum time. Rising prevalence of chronic diseases, such as breast cancer, lung cancer, stroke, and neurological dysfunctions, is a primary factor increasing demand for CAD systems. Technological advancements in diagnostic techniques, increasing efforts by government to raise awareness about cancer and treatment, and growing investments by market players to develop advanced products with 3D imaging are significant factors boosting revenue growth. 

However, factors, such as unfavorable reimbursement policies, increasing costs associated with CAD tools, and lack of trained professionals to operate systems are major restraining factors expected to affect growth of global computer aided detection market.  

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The report is formulated through exhaustive primary and secondary research which is verified and validated by industry experts, research analysts, and professionals. The report aims to help readers and users improve their business performances by providing insightful data about business sphere such as recent technological development, product advancements, and adoption of strategic business steps. The report also offers extensive analysis of the competitive landscape along with business overviews, expansion plans, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, product and brand promotions, government and corporate deals, and partnerships among others.

Top Companies in the Market Include:

EDDA Technology, Inc., FUJIFILM Medical Systems, Hitachi High Technologies Corporation, Hologic Inc., GE Healthcare Ltd., iCAD, Inc., Vucomp, McKesson Corporation, Philips Healthcare, Siemens Healthcare, Toshiba Medical Systems Corporation, Invivo Corporation, and Agfa-Gevaert N.V are key players operating in the global computer aided detection market. 

Increasing focus on development of vaccines to combat COVID-19 pandemic and focus on preventive medicine to mitigate future epidemics and pandemics, rising number of product approvals for drugs and therapeutics, and rapid digital transformation in the pharmaceutical and healthcare industry are some key factors expected to drive revenue growth over the forecast period. With the social distancing norms in place and growing focus on telemedicine, digital technologies were adopted at an accelerated rate allowing healthcare professionals to efficiently manage health of the patients. One of the most crucial drivers of the pharma & healthcare industry is the rapid integration of artificial intelligence in key areas such as R&D, patient care, commercialization, and drug discovery and development. It has also led to a reduction in healthcare expenditure and improved efficiency of the systems which is expected to further contribute to revenue growth of the market going ahead.

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Furthermore, to offer a better understanding of the competitive landscape, an extensive SWOT analysis and Porter’s Five Forces analysis are included in the report. Along with this, feasibility analysis and investment return analysis are also covered.  The report is segmented on the basis of product types offered in the market, application spectrum, and key regions of the Computer Aided Detection (CAD) market.

Application Outlook (Revenue, USD Million, 2018-2028)

Oncology
Breast Cancer
Lung Cancer
Colon/ Rectal Cancer
Prostate Cancer
Liver Cancer
Bone Cancer
Neurological
Musculoskeletal
Cardiovascular

Imaging modalities Outlook (Revenue, USD Million, 2018-2028)

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

Key Regions Studied in the Report:

North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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