According to European Markets for Computer Aided Detection, CAD vendors earned revenues of $116.9 million in Europe last year and that figure is projected to rise to $449.8 million in 2014.
"CAD has significantly expanded its application boundaries," noted Aarati Ajay, Frost & Sullivan medical imagining programme leader. "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 use was limited to film and digital mammography. However, it is increasingly being used in the detection of lesions for lung/chest applications and with virtual colonoscopy applications, says the study.
"The market for colon CAD is dependent on the increasing penetration of virtual colonoscopy," added Ajay. "Developers of colon CAD are often faced with the challenge of selling the concept. Owing to the fact that the industry is relatively nascent, much remains to be achieved in this market."
For equipment vendors, the task is to develop solutions that allow for an increase in procedures and enhanced workflow efficiencies, the report concludes. In order to fulfil these criteria, CT and MRI machines are being developed with integrated 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 Frost & Sullivan's Medical Imaging Growth Partnership Service Programme, which also includes research on 3D imaging, molecular imaging and radiopharmaceuticals.