Last few days of our annual market report sale! Buy now. In December 2021, Koios Medical, a fast-growing medical device software developer, received FDA clearance for Koios DS, an artificial intelligence (AI) based software platform that analyzes ultrasound images used to diagnose thyroid and breast cancer. Koios DS takes just two seconds to make an accurate diagnosis.
With the help of Koios DS software, physicians can achieve clinically significant improvements in interpretation efficacy, diagnostic performance, increased sensitivity, and reduced false positives.
The need for the accurate, rapid and early diagnosis of breast cancer drives the demand for novel breast cancer diagnostics, as per the insights of TBRC's Global Market Model. The global breast cancer diagnostics market size was estimated to grow from $4.6 billion in 2020 to $5.5 billion in 2021 at a compound annual growth rate (CAGR) of 18.3%. The market is further expected to reach $7.5 billion in 2025 at a CAGR of 8.1%. The AI-based cancer detection system is an emerging trend in the cancer diagnostics market.
AI helps in improving the accuracy of image detection in diagnostic processes such as breast cancer and lung cancer diagnostics, by detecting the cancers in early stages. The increasing incidence of breast cancer and thyroid cancer will require more equipment and software to diagnose, further increasing the demand for the cancer diagnostics market.
The increasing incidence of breast cancer will require more equipment to diagnose, increasing the demand for the breast cancer diagnostics market. Breast cancer is the most common form of cancer, affecting 2.1 million women every year and causing the largest number of deaths from cancer in women. The goal of the early diagnosis is to improve the percentage of breast cancers diagnosed at an initial point so that more successful care will be used and the risk of death from breast cancer can be reduced.
According to the World Health Organization (WHO), cancer is the second-leading cause of death worldwide, and 685,000 people died of breast cancer in 2020, about 15% of all cancer deaths in women. Therefore, the increasing incidence of breast cancer is expected to drive the growth of the breast cancer diagnostics market.
Research is sourced from TBRC's reports (https://www.thebusinessresearchcompany.com/report/cancer-diagnostics-global-market-report), FDA (https://www.fiercebiotech.com/medtech/fda-clears-koios-medical-s-ultrasound-reading-ai-spots-breast-thyroid-cancer-two-seconds)
The forecasted revenue of the company is calculated based on the assumption that the company's market share will remain the same during the forecast period.
Here are some related reports:
Cancer Diagnostics Global Market Report 2021 - By Products (Companion Diagnostics, Molecular Diagnostics), By End-User (Cancer Research Institutes, Diagnostic Laboratories, Hospitals), By Method (Biopsy, Endoscopy, Tumor Biomarker Tests, Imaging), By Application (Cervical Cancer, Breast Cancer, Liver Cancer, Blood Cancer, Kidney Cancer, Colorectal Cancer, Pancreatic Cancer, Ovarian Cancer, Melanoma), COVID-19 Growth And Change:
Breast Imaging Devices Global Market Report 2021 - By Product Type (Tomosynthesis, Breast Ultrasound, Breast MRI, Mammography, Nuclear Imaging), By Technology (Ionizing, Non Ionizing), By End User (Hospitals & Clinics, Breast Care Centers, Diagnostic Imaging Centers), COVID-19 Growth And Change: https://www.thebusinessresearchcompany.com/report/breast-imaging-devices-global-market-report-2020-30-covid-19-growth-and-change
Thyroid Cancer Drugs Global Market Report 2021 - By Drug Type (Ipilimumab, Cabozantinib-S-Malate, Caprelsa (Vandetanib), Doxorubicin Hydrochloride, Lenvatinib Mesylate, Nivolumab, Vandetanib), By End Users (Hospitals, Oncology Clinics, Research Organizations), By Type (Radioiodine Ablation, Thyroid Stimulating Hormone (THS) Suppression, Chemotherapy, Targeted Multikinase Therapy), COVID-19 Impact And Recovery: