PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454111
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454111
Computer Aided Detection Market size was valued at USD 868.4 Million in 2023, expanding at a CAGR of 6.1% from 2024 to 2032.
A group of techniques known as computer aided detection (CAD) employ pattern recognition to assist medical picture interpretation on the part of doctors. The diagnosis of a number of illnesses, such as cancer, heart disease, neurological disorders, and coronary artery disease, is made easier by computer-aided detection software using imaging modalities like computed tomography, ultrasound, magnetic resonance imaging, and x-rays. Physicians may reduce detection mistakes with the use of this diagnostic analysis tool.
Computer Aided Detection Market- Market Dynamics
Growing prevalence of chronic disease drives market growth
The market for computer-aided detection is expanding as the frequency of chronic illnesses rises. Advances in digital imaging technology, regular medical check-ups, and increased knowledge of cancer therapy have improved the efficacy and efficiency of computer-aided detection systems. Easy connection with a variety of imaging equipment makes early diagnosis of chronic illnesses possible and has uses in research and development. Together with the steady rise in the need for health insurance, medical tourism also contributes to the growth of computer-aided detection. Consequently, the Computer Aided Detection Market is expected to develop at a faster rate throughout the forecast period.
Computer Aided Detection Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.1% over the forecast period (2024-2032)
Based on application segmentation, the Breast Cancer segment is expected to hold a prominent market share over the forecast period
Based on indication segmentation, the X-Ray Imaging segment is expected to hold the largest market share during the forecast period
Based on region, North America held the largest market share in 2023
The Global Computer Aided Detection Market is segmented based on Application, Indication and Region.
Based on the application, the Computer Aided Detection market is bifurcated into Breast Cancer, Tuberculosis, Colon Cancer, Lung Cancer, Prostate Cancer, Liver Cancer, Bone Cancer and Others. The Breast Cancer segment is expected to hold a prominent market share over the forecast period due to rising worldwide incidence rates of breast cancer, more awareness and initiatives, early detection, and advancements in treatment options, the breast cancer category held a 67.1% market share in 2022. 685,000 people worldwide lost their lives to breast cancer in 2020, when 2.3 million women received a diagnosis.
Based on the indication, the global Computer Aided Detection market is segmented into Computed Tomography, X-Ray Imaging, Ultrasound Imaging, Magnetic Resonance and Nuclear Medicine Imaging. The X-Ray Imaging segment is expected to hold the largest market share during the forecast period. This is attributed to the increasing incidence of cancer, which accounts for significant mortality and mortality.
Computer Aided Detection Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to hold the largest market share during the forecast period. The region's rising healthcare spending and the widespread use of CAD for cancer detection are anticipated to drive market growth. According to the American Cancer Society, cancer is still the second most common cause of death in the United States, after heart disease. There were 602,350 cancer-related fatalities in 2020, with 317,731 men and 284,619 women. Thus, the aforementioned stats drive the regional growth.
The biggest players in the sector employ a variety of tactics, including partnerships, acquisitions, collaboration, and the introduction of new products, to strengthen their position in the market. Demand-friendly strategy strategies are now being implemented by a number of industry players.
In February 2023, the RealGUIDETM CAD and FULL SUITE modules, the newest additions to ZimVie's digital dentistry software platform, have been released. ZimVie Inc. is a pioneer in the worldwide health sciences industry operating in the dental and spine sectors. With the introduction of cutting-edge software for restorative design and production, the CAD (computer-aided design) module makes it possible to create intricate and complicated implant and tooth restorations. A single point of contact for both surgical and restorative design requirements, the FULL SUITE module integrates the CAD module with RealGUIDE's already-existing Plan, App, and Guide modules. This facilitates a smooth workflow throughout the ZimVie digital dentistry platform.
GLOBAL COMPUTER AIDED DETECTION MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
IBM
FUJIFILM Holdings Corporation
GENERAL ELECTRIC
Koninklijke Philips N.V
Siemens
NANO-X IMAGING LTD.
CANON MEDICAL SYSTEMS CORPORATION
Hologic, Inc.
EDDA Technology, Inc.
Riverain Technologies
iCAD, Inc.
Median Technologies
Hitachi Ltd
Shimadzu Analytical (India) Pvt. Ltd
Carestream Health
ESAOTE SPA
Narayana Hrudayalaya Ltd
Karyopharm