Computer-aided detection (CAD) software is a set of algorithms that primarily use pattern recognition to assist radiologists in identifying potentially diseased lesions in the human body.
The demand for computer-aided detection (CAD) in the United States is projected to be worth US$ 491.2 million in 2020 and US$ 680.1 million by the end of 2027.
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Drivers:
An increase in cancer prevalence is expected to drive the growth of the US computer-aided detection (CAD) market. According to the American Cancer Society, there will be 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the United States in 2019.
Furthermore, rising demand for CAD solutions in multidisciplinary facilities is expected to boost market growth. Multispecialty hospitals are increasingly installing CAD units. Multispecialty hospitals prefer versatile diagnostic systems because they are more cost-effective and have a higher return on investment.
Restraints:
Insufficient repayment approaches are required to hamper the growth of the market. There have been different advancements in radiology with respect to imaging devices in the new past. Be that as it may, most medical insurance agencies don’t offer repayment for techniques utilizing CAD. Therefore, individuals will in general pick customary strategies for conclusion like pathological tests, biopsy or conventional imaging methods such as MRI procedures and mammography.
Furthermore, the market’s growth is expected to be constrained by a scarcity of qualified radiologist and technicians. To operate CAD systems, radiologists and technicians must have the required technical skills. The market’s development is being stifled by a scarcity of qualified radiologists and technicians.
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Opportunities:
Accessibility of single packaged software solution for various applications is relied upon to offer rewarding development openings for major players in the market. Most software’s are explicitly intended to dissect pictures from one methodology for explicit sign. Computer aided design programming that can be utilized to examine pictures from more than one methodology are accessible on the lookout. In any case, request could increment if a solitary programming was created with ability of dissecting pictures from various modalities for some signs without confusions. This would decrease costs on medical clinics as there would be need to buy a solitary CAD programming rather than one for every sign.
Furthermore, increased flexibility in the licensing and renewal phase of CAD software is expected to help the market expand. Most software vendors also sell a one-year license agreement that can be extended for another year for 70% of the original price. The market is expected to expand as the license period is extended and the renewal cost is reduced.
Market Trends/Key Takeaways:
The introduction of new drugs for diagnosing pandemic diseases is a priority for the market’s major players. Delft Imaging, for example, collaborated with Thirona, Radboudumc, Bernhoven (Netherlands), HT médica (Spain), and Fakultas Kedokteran UI (Indonesia) to develop CAD4COVID (Computer Aided Detection for COVID-19) in March 2020 to support triage patients and educate the treatment pathway.
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In order to eliminate certification barriers for developers of software-based medical devices, the US FDA is focusing on transferring liability for periodic software updates to manufacturers through its yet-to-be-finalized software precertification scheme.
Key Developments:
In July 2019, Qlarity Imaging LLC, Paragon Biosciences’ seventh portfolio company, is set to develop QuantX, a U.S. Food and Drug Administration (FDA)-approved CAD diagnostic device for breast cancer.
In December 2018, ProFound AI, iCAD’s deep-learning cancer detection software solution for digital breast tomosynthesis (DBT), has received FDA approval in the United States.
Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Imaging Modality
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Key Developments
- Technological Advancement
- Regulatory Scenario
- Market Dynamics
- U.S. Computer Aided Detection Market, By Product Type, 2017 – 2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2019–2027
- Segment Trends
- Breast CAD
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Chest CAD
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Abdominal CAD
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Prostate CAD
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Cardiovascular CAD
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Introduction
- U.S. Computer-Aided Detection Market, By Imaging Modality, 2017 – 2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2019–2027
- Segment Trends
- Mammography
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- X-Ray Imaging
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- MRI
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Computed Tomography
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Ultrasound
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Introduction
- Competitive Landscape
- Heat Map Analysis
- Company Profiles
- Section
- References
- Research Methodology
- About us and Sales Contact
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