PUBLISHER: The Business Research Company | PRODUCT CODE: 1527160
PUBLISHER: The Business Research Company | PRODUCT CODE: 1527160
Whole slide imaging (WSI) is a technology that involves scanning traditional glass slides containing high-resolution tissue samples to create digital images. This process enables pathologists to conduct diagnostic work using a computer instead of a microscope, offering improved efficiency, easier case sharing and collaboration, and enhanced image analysis capabilities through digital tools.
The whole slide primarily consists of hardware, software, and services. Hardware works in conjunction with software, which includes the programs and operating systems that run on the computer, enabling it to perform a variety of functions. WSI is applied in various fields, including telepathology, cytopathology, immunohistochemistry, and hematopathology. It serves diverse end-users such as academic institutions, research organizations, and other related entities.
The whole slide imaging market research report is one of a series of new reports from The Business Research Company that provides whole slide imaging market statistics, including whole slide imaging industry global market size, regional shares, competitors with a whole slide imaging market share, detailed whole slide imaging market segments, market trends, and opportunities, and any further data you may need to thrive in the whole slide imaging industry. This whole slide imaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The whole slide imaging market size has grown rapidly in recent years. It will grow from $0.70 billion in 2023 to $0.79 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to the increasing prevalence of cancer, a growing demand for whole slide imaging, greater adoption of digital pathology, government funding and support, and economic growth.
The whole slide imaging market size is expected to see rapid growth in the next few years. It will grow to $1.25 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period is expected to be driven by the rising prevalence of chronic diseases, increased adoption of cloud-based solutions, higher demand for quick results, the growing popularity of virtual/digital slides, and extensive drug research. Major trends in the forecast period include integration with artificial intelligence (AI), further adoption of digital pathology, expansion in research and development, technological innovations, and an increase in strategic partnerships.
The escalating prevalence of cancer is poised to drive the expansion of the whole slide imaging market in the foreseeable future. Cancer encompasses a broad spectrum of diseases characterized by the uncontrolled growth and spread of abnormal cells, posing significant health risks and potentially fatal consequences if left untreated. Factors contributing to the prevalence of cancer include the obesity epidemic, inherited genetic abnormalities, hepatitis B and C viruses, and human papillomavirus (HPV). Whole slide imaging (WSI) emerges as a crucial technology in cancer diagnosis and treatment, offering detailed and easily accessible digital representations of tissue samples. This advancement enhances the accuracy, efficiency, and collaboration in cancer diagnosis and treatment processes, ultimately leading to improved patient outcomes. For example, the American Society of Clinical Oncology estimates that there were approximately 20 million new cancer cases diagnosed in 2022, with projections suggesting a global increase to 35 million new cases by 2050. Hence, the rising prevalence of cancer acts as a catalyst for the growth of the whole slide imaging market.
Key players in the whole slide imaging market are actively engaged in developing innovative products, such as high-capacity slide scanners, to bolster their market presence. High-capacity slide scanners are specialized devices designed to digitize entire microscope slides at high resolution, facilitating the capture of detailed digital images of tissue specimens and cytology samples. For instance, in June 2022, F. Hoffmann-La Roche AG introduced the VENTANA DP 600 slide scanner for digital pathology. This cutting-edge slide scanner is engineered to generate high-resolution digital images of stained tissue samples, aiding in the diagnosis of diseases such as cancer and facilitating the formulation of personalized treatment plans. The scanner offers user-friendly operation and workflow flexibility, streamlining diagnostic processes in pathology laboratories.
In August 2023, Exor NV completed the acquisition of a 15% stake in Royal Philips NV for approximately €2.6 billion ($2.8 billion). Through this strategic move, Exor aims to bolster Philips' strategy and value creation potential, particularly in the healthcare technology sector. Royal Philips NV is a Netherlands-based company renowned for manufacturing medical systems and consumer electronics products, including whole slide imaging solutions.
Major companies operating in the whole slide imaging market are General Electric Company, F. Hoffmann-La Roche AG, Koninklijke Philips N.V., Olympus Corporation, Nikon Corporation, PerkinElmer Inc., Beckman Coulter Inc., Leica Biosystems GmbH, Hamamatsu Photonics KK, Huron Technologies International, Sectra AB, PathAI, Xifin Inc., OptraSCAN, Paige.AI, Indica Labs, 3DHISTECH Ltd., Visiopharm A/S, Flagship Biosciences Inc., Proscia Inc., LigoLab Information System, Aiforia Technologies plc, Inspirata Inc., Histowiz, Mikroscan Technologies Inc., Corista LLC, Glencoe Software Inc., Definiens AG
North America was the largest region in the whole slide imaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the whole slide imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the whole slide imaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The whole slide imaging market consist of revenues earned by entities by providing services such as slide scanning services, digital archiving and storage, image analysis and quantification, and custom application development. The market value includes the value of related goods sold by the service provider or included within the service offering. The whole slide imaging market also includes sales of image analysis tools, integrated digital pathology systems, WSI viewing platforms, telepathology systems, and WSI scanners. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Whole Slide Imaging Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on whole slide imaging market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for whole slide imaging ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The whole slide imaging market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.