Newark, July 04 2022 (GLOBE NEWSWIRE) — According to report published by The Brainy Insights, the global whole slide imaging market is expected to grow from USD 408.6 million in 2021 to USD 1,678.6 million by 2030, with a CAGR of 17% over the forecast period 2022-2030.
The growing popularity of virtual slides over physical slides is driving the market growth along with technological advancements in whole slide imaging. But the high investment in maintenance and supply of the technologically advanced whole slide imaging products is restraining the growth of the market. However, the development of whole slide imaging product technology is expected to increase the adoption rate of whole slide imaging system in the healthcare industry. It will provide immense opportunities for market growth over the forecast period. The challenge facing this market includes the lack of qualified personnel to operate the whole slide imaging equipment.
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To strengthen their position in the global Full Slide Imaging market, the major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships.
● In May 2019, Leica Biosystems’ Aperio AT2 DX system, a digital pathology system, received FDA clearance. The Aperio AT2 DX system is compatible with whole slide imaging systems.
Market growth and trends
With technological advancements in digital pathology, the use of digital slides has increased to accurately study disease status. Artificial intelligence technology is used to help computers perform accurate drug development research. According to a research report by the World Health Organization (WHO), approximately 69% of deaths in low- and middle-income countries are due to cancer. Breast and lung cancers are the most common types of cancer in the world. Increasing research and development activities for cancer treatment and personalized medicines are driving the growth of the overall slide imaging market, especially for breast cancer treatment.
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● In 2021, the scanner segment dominated the market with the largest market share of 22% and revenue of 89.8 million.
The product type segment includes software, scanners, image management system, viewers and services. In 2021, the scanner segment dominated the market with the largest market share of 22% and revenue of 89.8 million. The scanners are integrated with software that converts microscopic images into digital images, which augments the workflow of the overall slide imaging market, driving the growth of the segment.
● In 2021, the cancer segment accounted for the largest market share, with 20% and revenue of 81.7 million.
Application segment is divided into Telepathology, Hematopathology, Cytopathology, Cancer, Immunohistochemistry, and Cardiology. In 2021, the cancer segment accounted for the largest market share, with 20% and revenue of 81.7 million. Rising incidences of cancer globally are driving the growth of the overall slide imaging market owing to the extensive use of technology in the research and development of treatments for cancer patients.
● In 2021, the biotech and pharmaceutical companies segment accounted for the largest market share, with 43% and revenue of 175.6 million.
The end-user segment includes academic and research institutes, biotechnology and pharmaceutical companies, hospitals and clinics. In 2021, the biotech and pharmaceutical companies segment accounted for the largest share of the market, with 43% and revenue of 175.6 million. Biotech and pharmaceutical companies study diseases in depth and provide personalized medicines. The in-depth study of the disease can be done using images generated using whole slide imaging.
This is driving the market growth in the segment.
Regional Segment Analysis of Whole Slide Imaging Market
● North America (United States, Canada, Mexico)
● Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, rest of APAC)
● South America (Brazil and Rest of South America)
● Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, Asia-Pacific has emerged as the largest market for the global whole slide imaging market, with a market share of around 38% and 155.2 million market revenue in 2021. The increase in research and development of personalized drugs for the treatment of diseases like cancer and the presence of a large population are driving the growth of the market in the region. Along with this, the modernization of patient care facilities in the region is also expected to propel the market growth in the region.
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Leading players operating in the global Whole Slide Imaging Market are:
● 3DHISTECH Ltd.
● Inspirata, Inc.
● Danaher (Leica Biosystems)
● Visiopharm AS.
● Akoya Biosciences, Inc.
● Koninklijke Philips NV
● Indica Laboratories
● Mikroscan Technologies, Inc.
This study forecasts revenue at global, regional and country level from 2022 to 2030. Brainy Insights has segmented the global Whole Slide Imaging market based on the segments mentioned below:
Global Whole Slide Imaging Market by Product Type:
● Image management system
Global Whole Slide Imaging Market by Application:
Global Whole Slide Imaging Market by End User:
● Academic and research institutes
● Biotechnology and pharmaceutical companies
● Hospitals and Clinics
About the report:
The global Whole Slide Imaging market is analyzed on the basis of value (USD Million). All segments have been analyzed at global, regional and country level. The study includes analysis of more than 30 countries for each part. The report analyzes the drivers, opportunities, restraints and challenges to gain a critical overview of the market. The study includes Porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position analysis, distribution and marketing channel analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aiming to provide businesses with actionable insights through data analytics to improve their business acumen. We have a robust forecasting and estimating model to meet customers’ high-quality production goals in a short period of time. We provide custom (customer specific) and syndicated reports. Our union reporting repository is diverse across all domain categories and subcategories. Our customized solutions are designed to meet customer needs, whether they are looking to expand or planning to launch a new product in the global market.
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