The computer aided detection market in the U.S. and Europe is projected to reach $323 million by 2018, according to a report recently issued by Global Industry Analysts, Inc.
According to the report, "Computer Aided Detection (CAD): A U.S. and European Market Report," breast cancer detection dominates the CAD market and will continue to do so over the next five years, "driven by rising installations of these systems in ultrasound CAD, mammography and MRI applications." CAD use in detecting lung and colon cancers also is gaining momentum, according to the report.
The U.S. is the largest market for CAD, with a projected compounded annual growth rate of 9.7 percent. Final guidance from the U.S. Food and Drug Administration, which provides "clarity" to manufacturers on clinical study requirements and approval of CAD devices and software, should lead to a surge of new product and application approvals in the U.S., the report states.
As for the European market, an increasing awareness of CAD's benefits in cancer detection should "enhance the significance of CAD technology."
Meanwhile, another recently released report by MarketsandMarkets projects that the global digital X-ray market will grow at an annual rate of 4.5 percent from 2013 to 2018.
According to the report's authors, advances in automation, a growing elderly population, and a desire for improved and faster imaging methods to increase patient throughput is driving the growth of digital X-ray. A growing incidence of chronic diseases--including tuberculosis, pneumonia and gastrointestinal disorders--also is driving the market in both developing and developed markets.