Yahoo Finance Whole Slide Imaging Market to Grow at 17% CAGR from 2022 to 2030; Rising Usage of Whole Slide Imaging in Drug Discovery Process to Usher Growth: The Brainy Insights
The rising awareness regarding the benefits of whole slide imaging and the large population base in some countries like India and China, is propelling the growth of the whole slide imaging market.
Newark, July 04, 2022 (GLOBE NEWSWIRE) -- As per the 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 1678.6 million by 2030, at a CAGR of 17% during the forecast period 2022-2030.
The rising popularity of virtual slides as compared to physical slides is driving the growth of the market along with the technological advancements in whole slide imaging. But the high investment in the maintenance and procurement of the technologically advanced whole slide imaging products is restraining the market's growth. However, the development in the technology of whole slide imaging products is expected to increase the adoption rate of the whole slide imaging system in the healthcare sector. It will offer immense opportunities for market growth during the forecast period. The challenge faced by this market includes the lack of skilled personnel for operating the equipment of the whole slide imaging.
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Competitive Strategy
To enhance their market position in the global whole slide imaging market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
● In May 2019, Leica Biosystems’ Aperio AT2 DX System, a digital pathology system, received FDA approval. Aperio AT2 DX System is compatible with whole slide imaging systems.
Market Growth & Trends
With technological advancements in digital pathology, the usage of digital slides increased for studying the disease condition accurately. Artificial intelligence technology is being used for assisting computers with precise research on the development of medicines. As per a research report by the World Health Organization (WHO), around 69% of deaths in low- and middle-income countries happen due to cancer. Breast cancers and lung cancer are reportedly the most dominant types of cancer globally. The increasing research and development activities for cancer treatment andpersonalized medicines are driving the growth of the whole slide imaging market, especially for breast cancer treatment.
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Key Findings
● In 2021, the scanners segment dominated the market with the largest market share of 22% and market revenue of 89.8 million.
The product type segment comprises software, scanners, image management system, viewers, and services. In 2021, the scanners segment dominated the market with the largest market share of 22% and market revenue of 89.8 million. Scanners are integrated with software that converts microscopic images into digital images, which increases the workflow of the whole slide imaging market, driving the segment's growth.
● In 2021, the cancer segment accounted for the largest share of the market, with 20% and market revenue of 81.7 million.
The application segment is divided into telepathology, hematopathology, cytopathology, cancer, immunohistochemistry, and cardiology. In 2021, the cancer segment accounted for the largest share of the market, with 20% and market revenue of 81.7 million. The rising cases of cancer worldwide are boosting the growth of the whole slide imaging market owing to the extensive use of technology in the research and development of treatment for cancer patients.
● In 2021, the biotechnology and pharmaceutical companies segment accounted for the largest share of the market, with 43% and market revenue of 175.6 million.
The end-user segment comprises academic and research institutes, biotechnology and pharmaceutical companies, and hospitals and clinics. In 2021, the biotechnology and pharmaceutical companies segment accounted for the largest share of the market, with 43% and market revenue of 175.6 million. The biotechnology and pharmaceutical companies are profoundly studying the diseases and providing personalized drugs. The deep study of the disease can be done using images generated with the help of whole slide imaging.
This drives the market growth in the segment.
Regional Segment Analysis of the Whole Slide Imaging Market
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the Asia Pacific region emerged as the largest market for the global whole slide imaging market, with a market share of around 38% and 155.2 million of the market revenue in 2021. The rising research and development of personalized drugs for the treatment of diseases like cancer and the presence of a large population base are driving the growth of the market in the region. Along with this, the up-gradation in the patient care facilities in the region is also expected to propel the market growth in the region.
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Key players operating in the global Whole Slide Imaging market are:
● 3DHISTECH Ltd.
● Inspirata, Inc.
● Olympus
● Nikon
● Danaher (Leica Biosystems)
● Visiopharm AS.
● Akoya Biosciences, Inc.
● Koninklijke Philips N.V.
● Indica Labs
● Mikroscan Technologies, Inc
This study forecasts revenue at global, regional, and country levels from 2022 to 2030. Brainy Insights has segmented the global whole slide imaging market based on the below-mentioned segments:
Global Whole Slide Imaging Market by Product Type:
● Software
● Scanners
● Image management system
● Viewers
● Service
Global Whole Slide Imaging Market by Application:
● Telepathology
● Hematopathology
● Cytopathology
● Cancer
● Immunohistochemistry
● Cardiology
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 based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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