Whole Slide Imaging Systems Market is Projected to Reach US$ 1.08 Billion at a CAGR of 9.2% By 2034 | Fact.MR
Rockville, MD, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Worldwide revenue from the sales of whole slide imaging systems Market is set to reach US$ 446.5 million in 2024 and go on to ascend to US$ 1.08 billion by the end of 2034. Rising adoption of precision medicine is driving up the need for sophisticated diagnostic technologies, which is also benefiting manufacturers of whole slide imaging (WSI) systems.
Precision medicine seeks to customize medical treatments and interventions to individual patient characteristics such as genetics, lifestyle, and environmental factors. Whole slide imaging systems are important in this technique because they enable detailed analysis of tissue samples at the cellular level. WSI systems assist pathologists in more precisely diagnosing and characterizing disorders by digitizing whole tissue slides and enabling high-resolution imaging.
Growth of the whole slide imaging system market is driven by advancements in digital pathology and increased usage of digital imaging systems in healthcare. Pathologists use whole slide imaging systems to scan whole tissue samples for inspection, allowing high-resolution images to be seen, saved, and shared remotely. The rising incidence of chronic diseases, as well as the growing demand for accurate diagnostic solutions, are contributing to the whole slide imaging system market expansion.
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Key Takeaways from the Whole Slide Imaging Systems Market Study:
- The global market for whole slide imaging systems is projected to expand at a CAGR of 9.2% from 2024 to 2034.
- The North American market is forecasted to reach US$ 614 million by the end of 2034.
- The East Asia market is calculated to expand at a CAGR of 12.3% from 2024 to 2034.
- By component, the scanners segment is calculated to reach a value of US$ 817.4 million by 2034.
- China is set to hold 66.2% market share in East Asia in 2024.
- The market in South Korea is evaluated to expand at a CAGR of 15.5% through 2034.
- The Canada market is forecasted to reach US$ 62 million by the end of 2034.
- Based on end user, demand for whole slide imaging systems from research centers is calculated to reach a market value of US$ 273.5 million in 2024.
“Research & development efforts by key players to enhance whole slide imaging systems capabilities, including integration of AI and machine learning, are driving market growth,” says a Fact.MR analyst
Leading Players Driving Innovation in the Whole Slide Imaging Systems Market:
Key industry participants like Hamamatsu Photonics K.K.; Roche Holding AG; NanoString Technologies; Indica Labs; Sakura Finetek; Danaher Corporation; Ventana Medical Systems, Inc.; Olympus Corporation; Leica Biosystems Nussloch GmbH; PerkinElmer, Inc.; DigiPath; 3DHISTECH Ltd. are driving the whole slide imaging systems industry.
Whole Slide Imaging System Industry News:
The US Food and Drug Administration (FDA) has approved Indica Labs' 510(k) clearance for HALO AP Dx, an enterprise digital pathology platform. This announcement was made in May 2024 by Hamamatsu Photonics K.K., a leader in whole slide imaging systems, and Indica Labs, a market leader in AI-powered digital pathology solutions. Formalin-fixed paraffin-embedded (FFPE) tissue surgical pathology slides are scanned using the NanoZoomer S360MD Slide scanner1. The primary diagnostic tool for these slides is HALO AP Dx. With the FDA's 510(k) approval, Indica Labs and Hamamatsu Photonics K.K. can continue their current collaboration.
New Hyperion XTi Imaging System solutions were released by Standard BioTools Inc. in April 2024, enabling automation and greater flexibility in the Imaging Mass Cytometry procedure. The company's goal is to expedite human health research.
Evident and Corista, Sakura Finetek USA, and Visiopharm established a partnership in September 2023 to offer an automated, end-to-end workflow solution for pathology in the US. It is anticipated that the leading scientists would pool their technological resources to enhance the staining, taking, and processing of full-slide images while upholding the teamwork and organization needed in today's high-throughput lab.
HistoWiz, Inc., a globally renowned provider of digital histology services, and Pramana, Inc., a health tech company powered by artificial intelligence that is redefining the pathology industry, announced in June 2022 that they would be working together to provide high-throughput whole slide imaging (WSI) and image management to businesses of all sizes.
Growing Demand for Scanners Due to Their Key Role in Digitizing Glass Slides
Rising demand for scanners is driven by their critical role in digitizing glass slides and producing high-resolution digital pictures. Scanners, as the primary input device in the digital pathology process, are essential for remote slide access, storage, and analysis.
As digital pathology solutions are becoming more commonly utilized in the healthcare sector, there is an increasing need for scanners to aid in the transition from traditional microscopy to digital imaging. Scanner technology advancements such as improved image quality, speed, and automation are driving demand as healthcare practitioners try to increase diagnostic accuracy, workflow efficiency, and patient care.
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More Valuable Insights:
Fact.MR, in its new offering, presents an unbiased analysis of the whole slide imaging system market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on components (scanners, services), applications (telepathology, cytopathology, immunohistochemistry, hematopathology), and end-user (hospitals, diagnostic laboratories, research centers), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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