AI-Based Digital Pathology Market Is Anticipated To Witness High Growth Owing To Increasing Demand For Disease Diagnosis



AI-based digital pathology market involves the use of artificial intelligence solutions in digital pathology such as whole slide imaging and analysis software. Digital pathology provides advantages like easy sharing of slides across locations, remote diagnosis and reducing diagnostic errors. The need for digital pathology has increased significantly owing to growing prevalence of cancers and other chronic diseases requiring rapid diagnosis.

The AI-Based Digital Pathology Market is estimated to be valued at US$ 1.1 Bn in 2024 and is expected to exhibit a CAGR of 8.3% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the AI-based digital pathology market are Aiforia Technologies, Akoya Biosciences, Ibex Medical Analytics, Indica Labs, and PathAI. Key players are focusing on developing advanced machine learning and deep learning algorithms to automate disease diagnosis from digitized slides.

The rising adoption of whole slide imaging systems across diagnostic centers and hospitals provides a significant opportunity in the market. Adoption of digital pathology solutions help in reducing diagnostic time and costs.

The AI-based digital pathology market is also witnessing high growth opportunities in regions like North America, Europe, Asia Pacific owing to increasing healthcare infrastructure, diagnostic capabilities and adoption of disease diagnostic technologies.

Market Drivers

Increasing demand for rapid and accurate disease diagnosis is a major market driver. AI-based digital pathology solutions help in faster detection of diseases like cancer at an early stage improving patient outcomes. Demand for automation of diagnostic workflow processes is further fueling the adoption of AI-based digital pathology solutions.

Market Restrains

High upfront installation and maintenance cost of whole slide imaging scanning devices and AI software solutions can restrain the market growth. Additionally, lack of pathologist awareness about digital pathology solutions and difficulty in modifying current diagnostic processes also poses a challenge.

Segment Analysis

The AI-based digital pathology market can be segmented based on product type, application, end user and geography. Based on product type, the market can segmented into image analysis software, scanners and workflow solutions. Image analysis software segment dominates the market as these platforms offer advanced artificial intelligence capabilities to pathologists for analyzing high-resolution digital pathology slides. By application, the market is divided into breast cancer, lung cancer lymphoid cancer, gastrointestinal cancer and others. Breast cancer is the dominating sub-segment as AI-based digital platforms have wide applications in analyzing breast cancer histopathology slides. Based on end user, the AI-based digital pathology market covers healthcare facilities, pharmaceutical & biotech companies, diagnostic centers and research laboratories. Healthcare facilities segment holds major share as adoption of digital pathology for primary diagnosis, consultations and treatment planning has increased in hospitals and diagnostic laboratories.

Global Analysis

Regionally, North America dominates the AI-based digital pathology market owing to well-established healthcare infrastructure, rise in adoption of digital/automated systems among pathologists and presence of key market players in the US and Canada. Europe ranks second in market share due to growing awareness about benefits of AI technology for diagnosing cancers. Asia Pacific stands as the fastest growing regional market for AI-based digital pathology due to rising healthcare expenditure, expansion of healthcare facilities and increasing incidence of cancer. Increasing AI investments by government bodies and private players for developing automated pathology platforms in India and China are further fueling market growth in Asia Pacific region.

 

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About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

 

What Are The Key Data Covered In This AI-based Digital Pathology Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the AI-based Digital Pathology's growth between 2024 and 2031.

:- Accurate calculation of the size of the AI-based Digital Pathology and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- AI-based Digital Pathology Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of AI-based Digital Pathology vendors

FAQ’s

Q.1 What are the main factors influencing the AI-based Digital Pathology?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top AI-based Digital Pathology companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the AI-based Digital Pathology’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

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