High Incidence of Cancer and Technology Innovations Drives the Computer Aided Detection Market, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive report on US and European Computer Aided Detection (CAD) markets. CAD market in the US is projected to reach US$323 million by 2018, driven by increasing prevalence of cancer, proven efficiency of the technology in breast cancer detection, and development of advanced technologies.

Computer Aided Detection (CAD): A US and European Market Report

Follow us on LinkedIn - Radiology involves interpretation of a wide range of diagnostic images for detecting potential abnormalities. However, with huge volumes of image data to be analyzed, the risk of failure in detecting all abnormalities is high. CAD (Computer Aided Detection) is a technology developed to assist a radiologist to reduce detection errors. The technology not only helps in increasing the detection of anomalies but also in accurate interpretation of images by clearly marking the areas using an automated process carried out by CAD algorithms.

Breast cancer detection continues to dominate the overall CAD market. The segment is expected to remain the leading application market for CAD systems throughout the analysis period, driven by rising installations of these systems in ultrasound CAD, mammography and MRI applications. With advancements in technology, CAD’s application has expanded to include colon, lung, prostrate and liver cancer detection also. Use of CAD in detection of lung and colon cancers is gaining momentum driven by availability of new innovative products in the market.

Advancement in digital imaging techniques and improved efficiencies in CAD solutions are paving way for enhanced adoption of CAD in imaging. Major advances being witnessed in the area of CAD include ease of integration with imaging modalities from multiple vendors, enhanced display aspects, manipulability of images, and image viewing and management speed. In order to further expand efficiencies of CAD systems, vendors are focusing on development and upgrade of existing CAD software. Few manufacturers of imaging modalities are integrating CAD capabilities within their imaging systems to increase efficiency of the overall radiology workflow.

Despite gaining popularity over the years, CAD continues to remain the second choice of radiologists after mammography. With the inclusion of patient context element, vendors of CAD systems aim to make the technology the first choice of radiologists. Patient context requires manufacturers to integrate vital patient information such as medical history of the patient and information regarding prior diagnoses and mammograms, among others, to enable radiologists to make appropriate follow-up decisions. Another approach to achieve the first reader status is the integration of image database for reference, which is expected to emerge as an important tool for informed diagnosis.

As stated by the new market research report on Computer Aided Detection (CAD), the US represents the largest market. The US is also projected to be the fastest growing market for CAD growing at a projected compounded annual rate of 9.7% over the analysis period. The FDA’s release of final guidance providing clarity to manufacturers on clinical study requirements and approval for CAD devices and software is expected to surge approvals for new products and applications over the following years. Meanwhile, rising awareness on the benefits of cancer detection in the early stages is expected to enhance the significance of CAD technology in Europe. However, the ongoing economic crisis in the region is placing significant pressure on the European CAD market.

Major players profiled in the report include Hologic, Inc., iCAD, Inc., Invivo Corporation, Medipattern Corp., Merge Healthcare Incorporated, Riverain Technologies, Siemens Healthcare and VuCOMP Inc., among others.

The research report titled “Computer Aided Detection (CAD): A US and European Market Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for the US and Europe. Application segments analyzed in the report include Breast, Chest and Others.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Computer_Aided_Detection_CAD_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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