Whole slide imaging Market is expected to grow from US$ 459.36 million in 2021 to US$ 1,471.71 million by 2028; it is estimated to grow at a CAGR of 18.2% from 2022 to 2028.
New York, Aug. 03, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on "Whole Slide Imaging Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, End User, and Geography," Increasing advancements in whole slide imaging and rising adoption of digital pathology drive the market growth. However, the high cost involved in the installation and maintenance of whole slide imaging hampers the market growth.
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Whole Slide Imaging Market Report Scope & Strategic Insights:
No. of Charts & Figures
Type, Application, and End User
North America; Europe; Asia Pacific; Latin America; MEA
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Global Whole Slide Imaging Market: Competitive Landscape and Key Developments
3DHISTECH Ltd.; Indica Labs; Inspirata, Inc.; Koninklijke Philips N.V.; Hamamatsu Photonics K.K.; Olympus; Nikon; Danaher (Leica Biosystems); Mikroscan Technologies, Inc.; Visiopharm AS; and Akoya Biosciences, Inc. are a few of the leading companies in the whole slide imaging market.
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Global Whole Slide Imaging Market: Key Insights – Future Trends
The global whole slide imaging market is estimated to grow in the coming years owing to the increasing integration of medical services and digital pathology platforms leading to increasing popularity and acceptance of digital consultation. Artificial intelligence (AI) has been reshaping the course of medical imaging and pathology in recent years. AI makes it easier to utilize digitized consultation images for diagnostics and workflow applications. The prominent use of digitized images generates diagnostic algorithms that can augment the diagnostic workflow.
Extensively increasing integration of medical services and digital platforms is leading to increasing popularity and acceptance of digital consultation. Artificial intelligence (AI) is one such technology, which has been reshaping the course of medical imaging and pathology in recent years. Artificial intelligence makes it much easier to utilize digitized consultation images for diagnostics as well as workflow applications. The prominent use of these digitized images is to generate diagnostic algorithms that can augment the diagnostic workflow. In addition, players are also focusing on development of AI-based products. For instance, December 2021, for breast cancer, Roche introduces three artificial intelligence (AI)-based, deep learning image analysis Research Use Only (RUO) algorithms. Artificial intelligence (AI) advances and the growing digitization of pathology are promising approaches to meet the demand for accurate detection, classification, and prediction of patients. Apart from these image analysis, the whole slide analysis workflow with automated pre-computing of the slide image before pathologist assessment and a precise visual overlay highlighting tumor cells with and without nuclear staining.
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The whole slide imaging market growth is primarily driven by the increasing aging population, growing prevalence of chronic diseases, and adoption of advanced digital pathology. In August 2020, the Department of Health and Social Care, UK announced funding of US$ 63.17 million for three digital pathology centers in the UK. The centers would focus on the incorporation of AI technology for digital pathology. Adoption of AI technology is likely to offer lucrative opportunities for the market in the coming years.
The global whole slide imaging market players are adopting various organic and inorganic strategies for market development. For instance, in January 2022, Clinical Genomics, a leading innovator of colorectal cancer testing, and Quest Diagnostics, a global leader in diagnostic information services, announced a 5-year extension of their US supply agreement for the InSure ONE (FIT) fecal immunochemistry test. The agreement builds on a long-standing collaboration to provide InSure FIT and the new InSure ONE FIT for colorectal cancer screening programs.
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Companies operating in the global whole slide imaging market implement various organic strategies that lead to dynamic improvements in the market. Various organic growth strategies, including product launch and product development, propel the market growth. Several companies are implementing numerous inorganic strategies, such as collaborations, partnerships, and mergers and acquisitions.
In October 2019, Olympus Corporation launched its SLIDEVIEW VS200 solution. It is a research slide scanner that can capture high-quality virtual slide images and allow advanced quantitative image analysis of samples related to different applications, such as the brain, cancer, and stem cell research and drug discovery.
In August 2018, 3DHISTECH introduced PANNORAMIC 1000, the newest member of the PANNORAMIC digital whole-slide scanner range. PANNORAMIC 1000 features the largest capacity in the market with 1,000 slides.
In June 2022, Hamamatsu Photonics has released a new multi-channel confocal unit called MAICO. This MEMS* confocal unit can easily be attached to any microscope to achieve confocal fluorescence microscopy. This plug and play, compact unit is an affordable and complementary option to high-end confocal microscopes.
In May 2020, Indica Labs and Octo, a premiere information technology systems provider to the US Federal Government, announced the online COVID Digital Pathology Repository (COVID-DPR), a virtual collection of high resolution microscopic COVID-related human tissue images hosted at the National Institutes of Health. COVID-DPR is underpinned by Indica Labs’ HALO Link software.
Whole Slide Imaging Market: Segmental Overview
Based on end user, the global whole slide imaging market is segmented into hospitals, pharmaceutical and biopharmaceutical companies, laboratories, and academic research institutes. In 2022, the academic research institutes segment held the largest share of the market. However, the pharmaceutical and biopharmaceutical companies segment is expected to register the highest CAGR from 2022 to 2028. The advent in the pharmaceutical companies is increasing across the world. The collaborations and agreements between the companies are also growing. The investments by the companies have been increased in drug development research and other biosimilars, which are fueling the market growth.
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