With increasing awareness of prevention and treatment options available to treat early-stage cancer, screening and detection aids are dominating the 'must have' lists for radiologists.
New analysis from Frost & Sullivan (medicalimaging.frost.com), European Markets for Computer Aided Detection, finds that the market earned revenues of $116.9 million in 2007 and estimates this to reach $449.8 million in 2014.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the European markets for CAD, then send an email to Patrick Cairns, Corporate Communications, at pcairns_pr[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.
"CAD has significantly expanded its application boundaries," notes Frost & Sullivan medical imagining Programme Leader Aarati Ajay. "From being a collaborative tool for mammography studies, it has now become established as a comprehensive support tool for cancer diagnosis."
In its initial days, CAD's usage was limited to film and digital mammography. However, with the development of technology, it is increasingly being used in the detection of lesions for lung/chest applications and with virtual colonoscopy applications.
With reimbursement for the procedural uptake of capital-intensive medical imaging modalities such as MRI taking a cut as part of the Deficit Reduction Act of the United States, OEM vendors are in the race to develop and introduce upgraded versions of existing systems that allow building efficiencies into processes. This poses a challenge to market expansion.
"The market for colon CAD is dependent on the increasing penetration of virtual colonoscopy and developers of colon CAD are often faced with the challenge of selling the concept," adds Ajay. "Owing to the fact that the industry is relatively nascent and is still in the phase of growth, much remains to be achieved in this market."
The most important means to reduce the impact of this on the industry is to develop solutions that allow for increasing procedural numbers and enhancing efficiencies. In order to fulfil these criteria, CT and MRI machines are being developed with inbuilt capabilities to allow for better diagnostic aid. For instance, in the latest version of breast MRI, GE Healthcare has integrated the system with CAD software from Confirma.
European Markets for Computer Aided Detection is part of the Medical Imaging Growth Partnership Service Programme, which also includes research in the following markets: 3D imaging Markets, Molecular Imaging Markets in Europe and Radiopharmaceuticals Market in Europe. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
Frost & Sullivan, the Global Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.
European Markets for Computer Aided Detection M0DF