Market for Computer-Aided Detection (CAD) in the United States, by Product Type (Breast CAD, Chest CAD, Abdominal CAD, Prostate CAD, Cardiovascular CAD, Others), By use of technology (Mammography, X-Ray Imaging, MRI, Computed Tomography, Ultrasound, Others) - 2019-2027 Market Size, Share, Outlook, and Opportunity Analysis
Computer-aided detection (CAD) software is a collection of algorithms that mostly employ pattern recognition to assist radiologists in spotting potentially unhealthy lesions or regions in the human body.
The market for computer-aided detection (CAD) in the United States is predicted to be worth US$ 491.2 million in 2020 and US$ 680.1 million by the end of 2027.
Over the forecast period, 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 year 2019.
Furthermore, rising demand for CAD solutions in interdisciplinary facilities is projected to boost market growth. Multispecialty hospitals are increasingly installing CAD units. Multispecialty hospitals favour versatile diagnostic systems because they are more cost-effective and provide a higher return on investment.
In terms of value, breast CAD dominated the computer-aided detection (CAD) market in the United States in 2019, accounting for 71.9 percent of the market.
Inadequate reimbursement policies are predicted to stifle the market's expansion. In recent years, there have been a number of developments in radiology in terms of imaging equipment. Most medical insurance providers, on the other hand, do not cover CAD operations. As a result, people are more likely to opt for traditional diagnostic approaches such as biopsy, pathological testing, or traditional imaging procedures such as mammography and MRI treatments.
Furthermore, the market's expansion is projected to be constrained by a scarcity of skilled radiologist and technicians. To handle CAD systems, radiologists and technicians must have the necessary technical knowledge. The market's expansion is being stifled by a scarcity of qualified radiologists and technicians.
Players in the market are projected to benefit from the availability of a single packaged software solution for different applications. The majority of software is designed to interpret images from a single modality for a specified indication. There is CAD software on the market that can be used to analyse images from several modalities. However, demand could rise if a single software could be developed that could analyse images from several modalities for a variety of indications without causing problems. This would save hospitals money because they would only need to buy one CAD software instead of one for each indication.
Furthermore, increased flexibility in the licencing and renewal process of CAD software is projected to help the market develop. Most software suppliers now offer a one-year licence agreement that may be renewed for another year for 70% of the original price. The market is predicted to grow as the licence time is extended and the renewal cost is reduced.
The launch of innovative solutions 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 produce CAD4COVID (Computer Aided Detection for COVID-19) in March 2020 to help triage patients and inform the care pathway.
In order to reduce certification difficulties for developers of software-based medical devices, the US FDA is focusing on passing responsibility for periodic software upgrades to manufacturers through its yet-to-be-finalized software precertification programme.
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