Whole Slide Imaging Market Overview by 2031
The whole slide imaging market size is projected to reach US$ 2.45 billion by 2031 from US$ 0.64 billion in 2023. The market is expected to register a CAGR of 18.20% during 2023–2031. The utilization of artificial intelligence for better processing and outcomes is likely to remain a key trend in the market.
Whole Slide Imaging Market Analysis
Whole slide imaging is the process of digitally scanning and storing as digital images a tissue slide that has thin sections of tissue specimens for microscopic inspection. This procedure enables remote analysis and collaboration with consideration for speed, usability, and image quality. The need for cutting-edge treatments and the rising incidence of chronic illnesses will probably lead to an increase in the number of research facilities and funding for this field. It is anticipated that these investments will present a profitable chance for market expansion. For researchers, whole slide imaging offers many advantages, including improved pathology workflow efficiency and remote reviewing and analysis. Therefore, the market is expected to grow due to significantly increasing investments in research and development made by both government agencies and industry participants.
Whole Slide Imaging Market Overview
A greater focus on attaining superior diagnostic results is significantly propelling the need for digital pathology. The biggest pathology companies in the country, academic health centers, and pathology departments all share a growing acceptance of digital pathology and whole-slide imaging. In the US, a large number of private practice pathology groups acknowledge that digital pathology represents the future of the field as a whole. The majority of large pathology lab companies and academic pathology departments have incorporated whole-slide imaging (WSI) and digital pathology (DP) into many of their lab's routine operations. As a result, major players are concentrating on introducing new products. First, the Bruker company Canopy Biosciences announced the introduction of the CellScape Whole-Slide Imaging Chamber, which will bring whole-slide spatial biology to the adaptable CellScape Precise Spatial Multiplexing platform in April 2024. With a total imaging area of 710 mm2, the new imaging chamber has the largest window of any microfluidic spatial biology instrument on the market. Additionally, the new imaging chamber facilitates a general decrease in the volumes of reagents needed for each sample. Whole slide imaging is predicted to become more popular as a result of the rising demand for digital pathology solutions; this will ultimately propel the market during the projected period.
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Whole Slide Imaging Market: Strategic Insights
Market Size Value in US$ 459.36 million in 2021 Market Size Value by US$ 1,471.71 million by 2028 Growth rate CAGR of 18.2% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2021
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Whole Slide Imaging Market: Strategic Insights
| Market Size Value in | US$ 459.36 million in 2021 |
| Market Size Value by | US$ 1,471.71 million by 2028 |
| Growth rate | CAGR of 18.2% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
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Whole Slide Imaging Market Drivers and Opportunities
Technological Advancements in Whole Slide Imaging Favors the Market Growth
In the latter part of the 1990s, whole slide imaging became popular. The system's initial phase involved taking pictures of composite slides using a combination of a microscope and a computer. On the other hand, the system's image acquisition took a long time. Technology companies employed high-speed systems and automated algorithms to increase the speed of image acquisition to get around this restriction. With this technological advancement, whole slide imaging has more applications. For example, in May 2021, the College of American Pathologists (CAP), in partnership with the American Society for Clinical Pathology (ASCP) and the Association for Pathology Informatics (API), updated the guideline "Validating Whole Slide Imaging for Diagnostic Purposes in Pathology" in response to the swift progress being made in clinical applications for whole slide imaging and digital pathology. With the new guidelines, patients will be guaranteed a speedy pathologic diagnosis and high-quality test results, potentially leading to earlier treatment. Whole slide imaging technologies are developing positively as a result of ongoing improvements in computational algorithms and image capture technologies. This technology is improving throughput, reducing errors, and enabling fast and effective image capture, image archiving, and image sharing. For example, Inspirata Inc. announced in March 2022 that the Dvnamyx digital pathology software had received FDA (Food and Drug Administration) clearance in the United States. With multiple scanners, Dvnamvx is the first company to receive FDA clearance for digital pathology software, allowing customers to choose the best scanners for their lab. With this clearance, Dvnamyx clients can use whole slide images (WSIs) rather than conventional glass slides for primary diagnosis, which has significant advantages for labs and pathologists. According to estimates, these technological advancements will encourage the use of whole slide imaging systems, which will ultimately accelerate market expansion throughout the forecast period.
Rising Developments in Telemedicine Technologies
Technologies related to telemedicine involve the use of contemporary communication channels to facilitate virtual communication between medical practitioners and patients. Additionally, the technology uses telecommunications to assist in the assessment, diagnosis, and treatment of patients. By using telemedicine technologies, patients and doctors can communicate across geographic boundaries. With the aid of intelligent algorithms, digital pathology in whole slide imaging provides a significant method for image archiving and thorough analysis, enabling medical professionals to access and examine images at any time and from any location. Growing investments and the significant benefit provided by telemedicine technologies are expected to present a profitable growth opportunity for the market over the forecast period.
Whole Slide Imaging Market Report Segmentation Analysis
Key segments that contributed to the derivation of the whole slide imaging market analysis are type, application, and end user.
- Based on type, the whole slide imaging market is divided into hardware, software, and service. The hardware segment held the most significant market share in 2023.
- By application, the market is categorized into telepathology, cytopathology, immunohistochemistry, and hematopathology. The telepathology segment held the largest share of the market in 2023.
- By end user, the market is segmented into hospital, pharmaceutical and biopharmaceutical companies, laboratories, and academic research institutes. The academic research institute segment held the largest share of the market in 2023.
Whole Slide Imaging Market Share Analysis by Geography
The geographic scope of the whole slide imaging market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
In terms of the entire North American slide imaging market, the United States has the largest market share. Key growth drivers include the abundance of imaging centers in this area, the rapid advancement of technology, the aging population, and the rising need for computer-aided diagnosis. Moreover, the market is growing at an exponential rate due to the increasing prevalence of different kinds of neurological, oncological, and cardiovascular indications. Furthermore, the government's strategic initiatives will present more profitable chances for the nation. Also, the presence of various companies engaged in strategic agreements will propel market growth. For instance, Mikroscan Technologies, in March 2020, announced that it has entered into a non-exclusive distribution agreement with Inspirata Inc. Inspirata market and distribute Mikroscan’s digital pathology and telemicroscopy systems, the SL5 Dual-Mode Real-Time Telemicroscopy and Digital Pathology system and the L5 Real-Time Telemicroscopy system throughout the United States.
Whole Slide Imaging Market Report Scope
Whole Slide Imaging Market News and Recent Developments
The whole slide imaging market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the whole slide imaging market are listed below:
- Agilent Technologies Inc. announced it has partnered with Hamamatsu Photonics K.K., a leading provider of whole slide imaging systems, to incorporate their NanoZoomer range, including the S360MD Slide scanner system, into the Agilent end-to-end digital pathology solution. (Source: Agilent Technologies Inc, Press Release, March 2023)
- Standard BioTools Inc, driven by a bold purpose – Unleashing tools to accelerate breakthroughs in human health –announced the introduction of new solutions that add automation and flexibility to the Imaging Mass Cytometry workflow on the Hyperion XTi Imaging System (Source: Standard BioTools Inc, Press Release, April 2024)
Whole Slide Imaging Market Report Coverage and Deliverables
The “Whole Slide Imaging Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Whole slide imaging market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Whole slide imaging market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Whole slide imaging market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the whole slide imaging market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Application, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America dominated the whole slide imaging market in 2023
Key factors driving the market are the rising demand for digital pathology solutions and technological advancements in whole slide imaging.
The utilization of artificial intelligence for better processing and outcomes is likely to remain a key trend in the market.
Akoya Biosciences, Inc., Olympus, 3DHISTECH, Mikroscan Technologies, Indica Labs, Inspirata, Leica Biosystems, Visiopharm, Koninklijke Philips N.V., Hamamatsu Photonics K.K, Nikon
The market is expected to register a CAGR of 18.20% during 2023–2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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