The advent of advanced technology in the healthcare industry has rendered it capable of treatment of high-risk ailments and diseases, and these technologies are continuously being developed to provide a better solution for the diagnosis of diseases. The introduction of machine intelligence has paved the way for the future of the healthcare industry, and the advent of speech recognition software and computer aided diagnostics (CAD) have replaced radiologists with the computer. Computer aided diagnosis system integrates data from MRIs, ultrasound, and x-rays, helping radiologists to diagnose the disease more effectively and accurately.
The rising number of cancer cases all over the world have pushed the demand for the CADx solutions and has accelerated the growth of the CADx market. The ease of integration of CADx solutions with various imaging equipment has improved the efficiency of radiologists to interpret and analyze a huge collection of data accurately. Over time, the patients have also become aware of the early detection and prevention of cancer and with the advancement in digital imaging techniques, the CADx market is growing rapidly.
The CADx market is being supported and funded by governments and institutions for further expansion of CADx applications to newer clinical areas and boost the research and development activity in medical imaging. The hospitals are being motivated to promote automatic workflow integration in their ongoing work environment and multi specialty hospitals are increasing the installation base of CADx solutions. All of these factors are working together to accentuate the growth of the CADx market.
According to the World Cancer Research Fund International, nearly 1.7 million new cases of breast cancer were diagnosed in 2012. And according to National Cancer Institute, it is estimated that there will be 252,710 new cases of female breast cancer in 2017. The global CADx market is estimated to reach $715.9 million in 2025, growing at a CAGR of 10.7% from 2017 to 2025. The market broadly focuses on major application areas (viz. oncology, cardiovascular, and neurological) and various imaging modalities (viz. mammography, MRI, tomosynthesis, etc.).
Among different application areas, the oncology segment dominated the market in 2016, with breast cancer leading and prostate cancer following a close second. The cases for both breast and prostate cancer is set to increase in the future. Among imaging modalities, the mammography segment acquired the highest share of the market in 2016, whereas, tomosynthesis segment is expected to grow at the highest CAGR in the coming years. This strong growth is attributed to the continuous advancement in various digital imaging techniques, especially in mammography, MRI, tomosynthesis and computed tomography (CT).
BIS Healthcare has conducted an extensive market research on ‘Global Computer Aided Diagnostics (CADx) Market – Analysis and Forecast (2017-2025)‘. The market intelligence report aims to provide an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.
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