Germany, Spain, Italy, France, Russia, and the UK account for significantly high share in the market in region. NASHUA, N.H., Ma(GLOBE NEWSWIRE) - iCAD, Inc. Additionally, non-GAAP net loss came in at 2.8 million, or 11. Revenue surged about 39 YOY to 7.8 million. The robust growth is driven by extensive usege of Artificial Intelligence, and favorable healthcare coverage policies available in the region. Like other stocks to buy on this list, Icad released Q2 results back in early August. In the regional landscape, Europe accounted for a major chunk of the global CADx market in 2020 and is forecast to gain major traction through 2028.Growing research activities and scientific evidences indicating early diagnosis and treatment of breast cancer can reduce patient mortality will boosts segmental growth in the coming years. Based on application, the breast cancer segment accounted for nearly 25.1% of the global market revenue share in 2020 owing to rising incidence of breast cancer in women.
Increasing awareness regarding health check-ups and preventive care among masses will provide impetus to the global computer aided diagnostics (CADx) market growth. Most of the diagnosis processes are becoming easier, convenient, and accurate with the growing use of Artificial Intelligence in the healthcare industry. Several studies indicate that utilization of computer aided diagnostics for breast cancer detection offers the most accurate results. The usage of CADx technology has been significantly increased in the past years among radiologists.
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The market growth is driven by surging demand for more effective diagnosis procedures in healthcare facilities, increased accuracy and quick testing results, coupled with rise in number of health awareness initiatives and programs initiated by governments and NGOs.Ĭomputer aided diagnostics involves computer generated imaging software for aiding doctors and healthcare providers in accurate disease diagnosis and treatment. According to a recent analysis, the global computer aided diagnostics (CADx) market size was valued at USD 685.62 Million in 2020 and is forecast to exceed USD 1.19 Billion in terms of revenue, delivering a CAGR of 7% through 2028. ICAD and CI (Inter-agency Coalition on AIDS and Development and Communication Initiative).