SANTA CLARA, Calif., April 1, 2020 /PRNewswire/ -- Based on its recent analysis of the global radiology Artificial Intelligence (AI) market for lung care, Frost & Sullivan recognizes Iowa-based VIDA Diagnostics, Inc. (VIDA) with the 2020 Global Company of the Year Award. VIDA is one of the few startups to have extended its solution portfolio beyond lung cancer. It has leveraged its vast machine learning training dataset to create fully automated AI solutions for conditions such as emphysema, chronic obstructive pulmonary disease (COPD), interstitial lung disease (ILD), and airway analysis.
"VIDA's solutions aid in the detection of a wide variety of lung diseases, providing a comprehensive assessment of the lung as opposed to being a single disease solution," said Siddharth Shah Industry Analyst. "Its solutions are packaged together as LungPrint Discovery, and are available on a variety of radiology platforms including Blackford, IBM Watson Health, Nuance, and TeraRecon. In addition to Discovery, VDA presents a family of products under the extended LungPrint brand."
Significantly, the LungPrint suite has obtained regulatory clearances in the United States, Canada, Europe, and Australia, and has also been commercialized in all these markets. This wide footprint, with its full set of features including airway and trachea analysis, low-density (by lobe) and high-density quantification, lung cancer resection, and an image scan quality check, endow it with a vital competitive advantage.
VIDA's solutions are targeted at both radiologists and pulmonologists, who can use the reports to offer more accurate diagnoses and treatment selections. Its wide application scope enables VIDA to provide solutions all along the patient pathway, from diagnosis to treatment decision support, to actual procedural support. VIDA believes its precise quantitative results and unique visualizations will enhance care team communications in addition to treatment plans.
"VIDA delivers true value to clinicians and clinical trial sponsors by driving efficiency and time savings as well as aiding early detection and better outcomes for lung disease management," noted Shah. "Already, VIDA has completed more than 60 clinical trials in 30 countries, resulting in 200+ peer-reviewed scientific publications endorsing the superior value of its solutions. Its commitment to technology innovation, combined with its forward-looking market strategies, is expected to help it continue dominating the radiology AI market for lung care."
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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About VIDA Diagnostics, Inc. (VIDA)
VIDA provides the new standard of pulmonary care by using AI-powered CT imaging software and services to aid the early detection, evaluation, and treatment planning of patients with or at risk of lung diseases, including emphysema and airway obstructive diseases (COPD), asthma, interstitial lung disease, and lung cancer. VIDA's software and services are FDA cleared, CE-marked, Health Canada licensed and TGA registered for clinical use in the US, European Economic Area, Canada and Australia. More at vidalung.ai/2020award.
SOURCE Frost & Sullivan