Whole Slide Imaging Market Analysis

Whole Slide Imaging Market Analysis

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Based on type, the whole slide imaging market is bifurcated into hardware, software, and services. Hardware is anticipated to account for a significant revenue approximately 248 million in 2022. Hardware typically includes slide scanners, which are specialized devices capable of capturing high-resolution images of whole slides. These scanners use various imaging technologies, such as brightfield, fluorescence, and confocal microscopy, to capture detailed images. The segment is projected to have a substantial expansion opportunity because of increasing number of product approvals and R&D activities.

Based on application, the market is bifurcated into cancer, cardiology, thyroid, neurology, and others. Cancer segment held the highest CAGR at 17.3% during the forecast period. The prevalence of cancer is a key factor that impacts the demand and growth of the whole slide imaging market. For instance, as per the American Cancer Society estimates, after heart disease, cancer continues to be the second most prevalent cause of death in the U.S, it was estimated that around 1.9 million new cancer cases will be diagnosed and 609,360 cancer-related deaths in 2022, or roughly 1,670 fatalities, every day. The increasing prevalence of cancer contributes to the growth of the industry, attracting investments from healthcare organizations, technology companies, and investors. This financial support helps drive innovation in whole slide imaging technology, leading to advancements in image quality, data analysis algorithms, and workflow integration.

Based on end-use, the whole slide imaging market is divided into hospitals, diagnostic centers, and others. The diagnostic centers held a significant revenue around USD 329.5 million in 2022. Diagnostic centers, which play a crucial role in healthcare delivery, have recognized the potential of whole slide imaging in improving diagnostic accuracy, efficiency, and patient care. These centers often manage a large volume of cases and require quick turnaround times for accurate diagnoses. With whole slide imaging, pathologists can access digitized slides remotely, eliminating the need for physical transport of glass slides and enabling them to provide timely and accurate diagnoses. The demand for whole slide imaging technology in diagnostic centers has been a significant driving force behind the growth of the whole slide imaging industry. The ability to improve diagnostic accuracy, streamline workflows, enhance collaboration, and integrate with electronic health records (EHR) systems has positioned whole slide imaging as a valuable tool for modern diagnostic practices.

U.S. whole slide imaging market is anticipated to account for USD 1.1 billion by end of 2032. The market witnessed significant growth over the past decade, and this trend is anticipated to continue. Additionally, the increasing volume of funding provided by the U.S. government to support healthcare is estimated to boost industry expansion. For instance, the U.S. Department of Health & Human Services (HHS) had distributed USD 2.80 Trillion among its thirteen sub-components in the fiscal year 2023 among which the Medicare and Medicaid sub-component received the highest funding. Additionally, the regulatory environment in North America has been supportive of whole slide imaging adoption.

The U.S. Food and Drug Administration (FDA) granted clearance for certain whole slide imaging platforms for specific clinical uses, such as primary diagnosis. For instance, in October 2022, the NanoZoomer S360MD slide scanning system of Hamamatsu was given 510(k) approval by the Food and Drug Administration (FDA) to be marketed for primary diagnostic purpose. Such clearance has instilled confidence among healthcare providers and facilitated the adoption of digital pathology solutions such as whole slide imaging technology.