The global Computer Aided Diagnostics (CAD) Market is expected to be valued at USD 1.19 Billion in 2028 from USD 685.62 Million in 2020, registering a CAGR of 7.0% through the forecast period. The growing healthcare awareness initiatives and programs implemented by the NGOs and governments of several countries, the augmented accuracy of testing, and the rapid availability of the results are the key elements bolstering the industry’s expansion. The soaring demand for effective diagnostic tests and procedures in the healthcare centers and hospitals is further adding traction to the market growth.
Mammography is a diagnostic tool primarily used to detect and diagnose breast cancer in the early stages. Digital mammography converts the X-rays into electronic images of the whole breast that is saved on the computer, and the images are ready for viewing. The mammography segment is therefore predicted to record high revenue contribution to the market. Moreover, the increasing incorporation of artificial intelligence in the healthcare sector has improved diagnostics procedures making them more manageable, convenient, and accurate.
The market is projected to be extremely competitive and fragmented owing to the presence of large and medium-sized companies. The rapid technological advancements and upgrades in computer-aided diagnostics to develop more efficient, accurate and cost-efficient solutions are projected to generate lucrative opportunities for the market players and propel the industry’s expansion.
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Key Highlights from the Report:
- The breast cancer sub-segment is projected to dominate the industry growth during the projected timeframe owing to the rising prevalence of breast cancer worldwide and the increasing need for efficient mammography imaging solutions, thereby contributing to market growth. The segment contributed to a 25.1% revenue share in the global industry in 2020.
- The diagnostic centers accounted for a significant market share in 2020, occupying a 30.3% share in 2020. The market is foreseen to proliferate at a CAGR of 7.9% through the forecast period. This can be accredited to the rapid increase in the development of diagnostic centers worldwide and the availability of advanced imaging modalities.
- Europe accounted for a significantly large share of the global market in 2019 and is estimated to command the market over the projected timeframe. This can be accredited to the soaring application of artificial intelligence and favorable healthcare coverage and reimbursement scenario in the region.
- Major companies in the market include FUJIFILM Medical Systems, iCAD Inc., GE Healthcare, McKesson Corporation, Hitachi High Technologies Corporation, Meduan Technologies, EDDA Technology Inc., Merge Healthcare Inc.,Philips Healthcare, and Hologic Inc.
- In 2019, Hitachi High Technologies Corporation gained a controlling stake in Applied Physics Technologies, Inc., a U.S.-based electron source manufacturer that develops, manufactures, and commercializes electron sources for applications in electron microscopes and other equipment.
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For the purpose of this report, Emergen Research has segmented the Global Computer Aided Diagnostics (CAD) Market on the basis of application, imaging modalities, end-use, and region:
Application Outlook (Revenue, USD Billion; 2018–2028)
- Breast Cancer
- Lung Cancer
- Liver Cancer
- Oncology
- Others
Imaging Modalities Outlook (Revenue, USD Billion; 2018–2028)
- Mammography
- X-Ray
- Ultrasound
- MRI
- CT Scan
- Others
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Hospitals
- Clinics
- Diagnostic Centers
- Others
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Russia
- U.K.
- Germany
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Israel
- Rest of MEA
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