According to a report by BIS Research, titled ‘Global Computer Aided Diagnostics (CADx) Market - Analysis and Forecast (2017-2025)’, the global computer aided diagnostics market is forecast to reach $1.3 billion by 2025.
With the advent of speech recognition software and computer aided diagnostics (CAD), the replacement of radiologists by computers has been swirling around for years. The introduction of deep learning and machine intelligence has re-ignited this discussion and the industry leaders are discussing what might happen in the upcoming 20 years. Handling and interpretation of the large volume of medical data and images can lead to an increasing chances of errors by a radiologist. Several tasks in radiology are extremely difficult, such as finding small lesions among several layers of fibro glandular breast tissues.
The computer aided diagnostics (CAD) is a concept established by equally taking into account the roles of physicians and computers. It is based on a computer algorithm (deep learning) which serves as “second reader” or “second opinion” in making the final decisions by the radiologists in the analytics and interpretations of huge collection of medical data. This technique of CADx helps the radiologists in accurately interpreting the images and identify the potential findings to avoid incorrect interpretations or overlooking of lesions.
BIS Research Analysis: bisresearch.com/industry-report/global-computer-aided-diagnostics-market-2025.html
The rising incidence of various types of cancer, such as breast, lung, prostate and colorectal, cancer is the primary responsible factor for the growth of CADx market. Furthermore, advancements in digital imaging techniques, improved efficiencies of CADx solutions, ease of integration of CADx solutions with various imaging equipment and growing awareness among the patients about early detection of cancer, have boosted the overall growth of this market. Moreover, the expansion of CADx 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 CADx solutions in various multi-specialty hospitals, is further expected to accentuate the growth of this market in the near future.
The CADx market broadly focuses on major application areas (oncology, cardiovascular, and neurological) and various imaging modalities (mammography, MRI, tomosynthesis,.). The oncology segment is further sub-segmented into breast, lung, colorectal, prostate, liver and other cancer. The breast cancer acquired the highest market value in 2016, growing at a CAGR of 10.7% and is anticipated to reach $715.9 million in 2025. However, prostate cancer is growing at the highest CAGR. The reason for such a strong market share is attributed to the rising incidence of breast cancer.
Few Companies Mentioned in the Report:
• Cadens Medical Imaging
• EDDA Technology, Inc.
• Fujifilm Holdings Corporation
• GE Healthcare
• Hologic Inc.
• iCAD Inc.
• Invivo Corporation
• Koninklijke Philips N.V.
• Median Technologies
• Merge Healthcare Inc.
• Neusoft Corporation
• Parascript LLC
• Riverain Technologies
• Samsung Medison Co. Ltd.
• Siemens Healthineers
• Agfa Healthcare
• McKesson Corporation
• Xinapse Systems Ltd
Key questions addressed in the report:
• What are the major market drivers, challenges and opportunities of the global computer aided diagnostics market?
• How the global computer aided diagnostics (CAD) market is evolving during the forecast period?
• What are the driving and restraining factors in the global computer aided diagnostics (CAD) market?
• What are the market shares of the leading segments and sub-segments of the global computer aided diagnostics (CAD) market in 2016 and 2025?
• How will each segment of the computer aided diagnostics (CAD) market grow over the forecast period and how much revenue will these accounts for in 2025?
• How will the market share of the leading companies change in 2017 and which country will lead the market in 2017?
• How will the industry evolve during the forecast period between 2017 and 2025?
• What are the key developmental strategies implemented in different types across all regions?
• Which geographical region will lead the global computer aided diagnostics market by the end of the forecast period?
• What are the market trends and key developments in this market?
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