WHOLE SLIDE IMAGING MARKET ANALYSIS

The global whole slide imaging market was valued at US$ 721.55 Mn in 2021 and is forecast to reach a value of US$ 1,627.68 MN by 2028 at a CAGR of 12.4% between 2022 and 2028. The global whole slide imaging market is experiencing strong growth due to the increase in disease burden, such as increase in prevalence of cancer, and increasing adoption of digital pathology to enhance lab efficiency. Furthermore, technological advancements in whole slide imaging is expected to boost the growth of the market. However, factors such as high cost of whole slide imaging systems and stringent regulatory approvals are some major factors expected to hamper growth of the global whole slide imaging market.

Global Whole Slide Imaging Market: Regional Insights

Based on geography, the global whole slide imaging market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market over the forecast period owing to the rising incidence of cancer and increasing adoption of digital pathology to enhance lab efficiency in the region. For instance, according to the American Cancer Society, around 1.9 million new cancer cases and 609,360 deaths from cancer are expected to occur in the United States in 2022. A significant increase in cancer incidence is anticipated to increase the need for diagnostic laboratories and accelerate market expansion.

Asia Pacific is also expected to witness robust growth in the global whole slide imaging market due to the expanding population base prone to various diseases and rise in the number of drug discovery activities in the region, especially in India. For instance, in August 2020, the Indian Government planned to make a fresh push for indigenous drug discovery, and set up a dedicated (R&D) research & development cell to oversee the efforts. India is home to over 3,000 pharma companies and a network of over 10,500 manufacturing facilities, as well as India is the third-largest seller of medicines in the world.

Figure 1. Global Whole Slide Imaging Market Share (%), by Region, 2021

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Global Whole Slide Imaging Market Drivers:

Increasing adoption of digital pathology to enhance lab efficiency is expected to augment the growth of the global whole slide imaging market over the forecast period. Whole slide imaging is a disruptive technology where glass slides are scanned to produce digital images. It is a most recent imaging modality being employed by pathology departments worldwide. For instance, the U.S Food and Drug Administration (USFDA) has also approved select digital whole slide imaging systems for primary diagnoses in surgical pathology, ushering in new applications for digital pathology.

Increase in prevalence of cancer across the globe is expected to boost the growth of the global whole slide imaging market over the forecast period. For instance, whole slide imaging is one of the emerging fields of digital pathology as it explores different methods and applications to enhance clinical care and cancer diagnosis. According to World Health Organization (WHO), cancer was the leading cause of death around the world, accounting for about 10 million deaths in 2020, or nearly one in six deaths. The most common cancers are lung, breast, prostate, and colon and rectum cancers.

Global Whole Slide Imaging Market Opportunities:

Growing popularity of virtual/digital slides, compared to physical slides, is expected to provide significant growth opportunities for players in the whole slide imaging market. For instance, virtual/digital slides can help reduce human error as well as producing precise diagnostic results in short turnaround time, and thus, pathology labs are increasingly adopting this technology to enhance lab efficiency. In October 2019, Olympus Corp. launched SLIDEVIEW VS200. It is a research slide scanner that can capture high-quality virtual slide images and allow advanced quantitative image analysis of samples related to different applications.

Growing applications of whole slide imaging (digital pathology) is expected to offer lucrative growth opportunities for players in the whole slide imaging market. For instance, whole-slide imaging allows pathologists to work remotely in regions with severe logistical constraints due to COVID-19 Pandemic. In May 2020, Indica Labs & Octo, a premiere information technology systems provider to the US Federal Government, announced online COVID Digital Pathology Repository (COVID-DPR), a virtual collection of high resolution microscopic COVID-related human tissue images hosted at the National Institutes of Health.

Global Whole Slide Imaging Market Trends:

Artificial intelligence (AI) has been reshaping the course of medical imaging and pathology in recent years. Digitized slides/images can augment the diagnostic workflow. AI makes it easier to utilize digitized slides or images for diagnostics and workflow applications. Thus, pathology labs worldwide are increasingly adopting technologically advanced whole slide imaging tools, and this trend is expected to continue over the forecast period, driving the growth of the global whole slide imaging market.

The global whole slide imaging market is also expected witness robust growth over the forecast period owing to the increasing integration of medical services and digital pathology platforms leading to increasing popularity and acceptance of digital consultation. Whole slide imaging is also gaining importance, as many pharma/biotech companies are using immunohistochemistry in early research and late-stage drug development, and this trend is expected to continue over the forecast period.

Global Whole Slide Imaging Market Restraints:

High cost of whole slide imaging tools or systems is expected to hamper growth of the global whole slide imaging market. For instance, the cost of whole slide imaging in clinical practice involves not only traditional direct cost, but indirect costs including pre-scan, scan, and post-scans cost. An initial capital investment of around US$ 2 million (for hardware and software), a yearly direct cost of around $ 10,000 for the memory to store the digital images and a yearly indirect cost of around $ 650,000 for support personnel.

Stringent regulatory framework is expected to hinder growth of the global whole slide imaging market. For instance, whole slide imaging tools are in the highest risk classification, and thus, require a PMA (Premarket Approval) regulatory path and placing whole slide imaging in the highest risk category for patients. In the U.S., technology manufactured for digital pathology (i.e. scanners, software) are considered medical devices and are regulated by the U.S. Food and Drug Administration (USFDA).

Figure 2. Global Whole Slide Imaging Market Share (%), by Technology, 2021

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Global Whole Slide Imaging Market Segmentation:

The global whole slide imaging market report is segmented into Technology, Application, End-User, and Region.

Based on Technology, the market is segmented into Scanners, IT Infrastructure, Viewer, and Image Management System. Of which, Scanners Segment is expected to dominate the global whole slide imaging market during the forecast period and this is attributed to the increase in adoption of technologically advanced whole slide imaging tools/devices, as scanners are used to scan more than thousands of slides within a short time period.

IT Infrastructure Segment is also expected to witness significant growth in the near future and this is owing to the increasing popularity and acceptance of digital pathology worldwide. In hospitals and laboratories, IT infrastructure is essential for full adoption of digital workflow, especially in a secure, reliable, and scalable manner.

Based on Application, the whole slide imaging market is segmented into Telepathology, Cytopathology, Immunohistochemistry, and Hematopathologists. Out of which, Telepathology Segment is expected to dominate the market over the forecast period and this is attributed to the outbreak of COVID-19 across the globe. The pandemic has put the whole different spin on how pathology labs/departments analyze slides remotely. The pandemic has increased the use of telepathology across the globe.

Cytopathology Segment is also expected to witness significant growth in the near future and this is owing to the expanding population base prone to various diseases. Cytopathology is a specialist diagnostic technique that is used to examine individual cells extracted from tissues, in order to find the cause and nature of a disease.

Based on End-User, the market is segmented into Education, Research, and Clinical. Out of which, Research Segment is expected to dominate the market over the forecast period and this is attributed to the increase in research and development activities worldwide. The introduction of whole slide imaging helped researchers study, analyze, and edit the existing digital images of specimens that were taken from pathology slides.

Clinical Segment is also expected to witness significant growth in the near future and this is owing to the increasing interest in digital pathology or increasing adoption of digital pathology. Digital pathology with whole-slide imaging has many potential clinical applications.

Global Whole Slide Imaging Market: Key Developments

In May 2021, Sectra AB and Institut Curie signed an agreement which allows the digitization of pathology at Institut Curie. The pathologists in Institut Curie can access cases, digital tools, and AI applications through the Sectra pathology solution.

In May 2021, in collaboration with Olympus Corporation, the University of Chicago set up the brand-new Olympus VS200 Slideview Research Slide Scanner.

In December 2019, Olympus Corporation signed a co-marketing agreement with Ultivue for the former’s SLIDEVIEW VS200 slide scanner and Ultivue UltiMapper reagents to offer leading-edge fluorescent multiplexing solutions.

Global Whole Slide Imaging Market: Key Companies Insights

The global whole slide imaging market is highly competitive. This is attributed to the growing popularity of virtual slides as compared to physical slides, as a result, players in the market are focusing on launching novel products in the market.

Some of the key players in the global whole slide imaging market are 3Dhistech, Visiopharm, Philips Healthcare, Olympus Corporation, Nikon Corporation, Leica Biosystems GmbH, Inspirata, Indica Labs, Hamamatsu Photonics KK, Definiens AG Mikroscan Technologies Inc., and Ventana Medical Systems Inc., among others.

*Definition: Whole slide imaging refers to scanning of conventional glass slides to produce digital slides. It is the most recent imaging modality being employed by pathology departments worldwide. Digital pathology with whole-slide imaging (WSI) has many potential clinical and non-clinical applications.