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  • Published On : May 2023
  • Code : CMI3292
  • Pages :157
  • Formats :
      Excel and PDF
  • Industry : Healthcare IT

The U.S. computer-aided detection (CAD) market is estimated to be valued at US$ 632.0 million in 2023 and is expected to exhibit a CAGR of 9.2% during the forecast period (2023-2030).

Analysts’ Views on U.S. Computer-Aided Detection (CAD) Market:

The availability of single-packed software solutions for multiple applications is expected to offer lucrative growth opportunities for players in the market. Most software is specially designed to analyze images from one modality for specific indications. CAD software that can be used to analyze images from more than one modality is available in the market. However, demand could increase if a single software was developed with the capability of analyzing images from different modalities for many indications without complications.

Figure 1. U.S. Computer-Aided Detection (CAD) Market Share (%), by Infection Type, 2023

U.S. COMPUTER-AIDED DETECTION (CAD) MARKET

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U.S. Computer-Aided Detection (CAD) Market – Driver

Increasing demand for computer-aided detection (CAD) solutions

Increasing demand for computer-aided detection (CAD) solutions is expected to drive the U.S. computer-aided detection (CAD) market over the forecast period. Computer-aided detection (CAD) units are increasing in multispecialty hospitals. Versatile diagnostics systems are preferred in multispecialty hospitals, owing to benefits such as cost-effectiveness and greater return on investment.           

U.S. Computer-Aided Detection (CAD) Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

Figure 2. U.S. Computer-Aided Detection (CAD) Market Value (US$ Mn) & Y-o-Y Growth (%), 2017-2030

U.S. COMPUTER-AIDED DETECTION (CAD) MARKET

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U.S. Computer-Aided Detection (CAD) Market Segmentation:

The U.S. computer-aided detection (CAD) market report is segmented into product type, and imaging modality.

Based on Product Type, the market is segmented into breast CAD, abdominal CAD, prostrate CAD, cardiovascular CAD, and others. Out of which, the breast CAD segment is expected to dominate the infection surveillance solutions market during the forecast period and this is due to the increase in prevalence of breast cancer.

Based on Imaging Modality, the market is segmented into mammography, X-ray imaging, MRI, computed tomography, ultrasound, and others. Out of which the MRI segment is expected to hold a dominant position in the market over the forecast period due to the increase in the number of hospitals.

U.S. Computer-Aided Detection (CAD) Market Cross Sectional Analysis:

In product type segment, breast CAD holds a dominant segment in North America region due to the increasing prevalence of breast cancer. For instance, in March 2023, an article was published by National Cancer Institute, stated that the most common type of cancer is breast cancer, with 300,590 new cases expected in the U.S. in 2023. 

U.S. Computer-Aided Detection (CAD) Market Report Coverage

Report Coverage Details
Base Year: 2022 Market Size in 2023: US$ 683.8 Mn
Historical Data for: 2017 to 2021 Forecast Period: 2023 to 2030
Forecast Period 2023 to 2030 CAGR: 14.2% 2030 Value Projection: US$ 1,732.3 Mn
Segments covered:
  • By Product Type: Breast CAD, Abdominal CAD, Prostrate CAD, Cardiovascular CAD, Others
  • By Imaging Modality: Surgical Site Infections, Mammography, X-Ray Imaging, MRI, Computed Tomography, Ultrasound, Others
Companies covered:

iCAD, Inc., Koninklijke Philips N.V., Holojic, Inc., Carestream Health, Inc., Siemens AG, GE Healthcare, EDDA Technology, Inc., EDDA Technology, Inc., and other prominent players.

Growth Drivers:
  • Increasing demand for computer-aided detection (CAD) solutions
Restraints & Challenges:
  • Lack of trained radiologists and technicians 

U.S. Computer-Aided Detection (CAD) Market: Key Developments

Increase in approval by the regulatory authorities is expected to drive the U.S. computer-aided detection (CAD) market over the forecast period. For instance, in August 2022, Bot Image, an Omaha-based MRI medical device company, developed an AI-driven medical device CAD software to significantly improve the accuracy and speed of prostate cancer detection (CADe) and diagnosis (CADx).

U.S. Computer-Aided Detection (CAD) Market: Key Trends

Increase in product launches by the key players

Increasing product launches by the key market players is expected to drive the market over the forecast period. For instance, in March 2020, Delft Imaging, diagnostic imaging solutions manufacturer, partnered with Thirona, Radboudumc, Bernhoven,(Netherlands), HT medica (Spain), and Fakultas Kedokteran UI (Indonesia) to develop CAD4COVID (Computer-Aided Detection for COVID-19) to help triage patients and inform the care pathway.

U.S. Computer-Aided Detection (CAD) Market: Restraint

Lack of trained radiologists and technicians

The U.S. computer-aided detection (CAD) market can be hindered by a lack of trained radiologists and technicians, radiologists and technicians are required to have the prerequisite technical skills to operate computer-aided detection (CAD) systems. The lack of trained radiologists and technicians is a factor restraining the growth of the market. To overcome this, hospitals and centers need to hire fully trained radiologists and technicians.

U.S. Computer-Aided Detection (CAD) Market - Key Players

Major players operating in the U.S. computer-aided detection (CAD) market include iCAD, Inc., Koninklijke Philips N.V., Holojic, Inc., Carestream Health, Inc., Siemens AG, GE Healthcare, EDDA Technology, Inc., EDDA Technology, Inc., and other prominent players.

*Definition: Computer-aided detection (CAD) software constitutes a set of algorithms, which uses pattern recognition methods predominantly to aid radiologists in detecting potential disease lesions or regions in the human body.

 

Frequently Asked Questions

The U.S. computer-aided detection (CAD) market is estimated to be valued at US$ 683.8 million in 2023 and is expected to exhibit a CAGR of 9.2% between 2023 and 2030.

Lack of trained radiologists and technicians is the major factor driving the market.

Breast CAD is the leading product type in the market.

Lack of trained radiologists and technicians hampering the growth of the market.

Major players operating in the market include iCAD, Inc., Koninklijke Philips N.V., Holojic, Inc., Carestream Health, Inc., Siemens AG, GE Healthcare, EDDA Technology, Inc., EDDA Technology, Inc., and other prominent players.

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