Hardware Segment to Hold Largest Share of Whole Slide Imaging Market During 2022-2028

According to our latest study on "Whole Slide Imaging Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type, Application, and End User," the market is expected to grow from US$ 459.36 million in 2021 to US$ 1,471.71 million by 2028; it is estimated to grow at a CAGR of 18.2% from 2022 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market. Major factors driving the market are technological advancements and increase in adoption of digital pathology. However, the high cost associated with installation and maintenance restricts the market growth.

Whole slide imaging technology deals with the acquisition of high-speed, high-resolution slide images for pathology workflow. The technology, also known as virtual pathology, plays major role in the digital pathology. Whole slide imaging is responsible for image archiving and sharing. In addition, pathologists can utilize these images for diagnosis by generating digital workflow.

Asia Pacific is expected to register the highest CAGR in the whole slide imaging market during the forecast period. China, Japan, and India are among the key contributors to the regional market owing to the growing number of pathological test centers and academic institutes and the rising advancement and adoption of digital pathology.

North America held the largest share of the whole slide imaging market in 2021, and the US was the largest contributor to the regional market. The market growth in North America is attributed to the increasing adoption of whole slide imaging products by academic institutes and the presence of a large number of hospitals and research centers in the region.

There is an increasing interest in using whole slide imaging (WSI) for diagnostic purposes (primary and/or consultation). Validation of WSI is crucial to ensure that diagnostic performance based on digitized slides is at least equivalent to that of glass slides and light microscopy. The US Food and Drug Administration (FDA) has approved select digital whole slide imaging (WSI) systems for primary diagnoses in surgical pathology, ushering in new applications for digital pathology. Increasing emphasis on achieving better diagnostic outcomes drives the demand for digital pathologies. The acceptance of digital pathology and whole slide imaging is growing among academic health centers, pathology departments, and the nation's largest pathology companies. Many private practice pathology groups in the US recognize that digital pathology is the path forward for the entire profession. Most academic pathology departments and large pathology lab companies have integrated digital pathology (DP) and whole slide imaging (WSI) into many daily activities in their labs. Rise in technological advancements and increase in digital pathology adoption propel the growth of the whole slide imaging market.

3DHISTECH Ltd.; Indica Labs; Inspirata, Inc.; Koninklijke Philips N.V.; Hamamatsu Photonics K.K.; Olympus; Nikon; Danaher (Leica Biosystems); Mikroscan Technologies, Inc.; Visiopharm AS; and Akoya Biosciences, Inc. are among the key players operating in the whole slide imaging market.

The report segments the Whole Slide Imaging market as follows:

The whole slide imaging market, based on type, is segmented into hardware, software, and service. The market for the hardware segment is subsegmented into scanners, microscopes, and cameras. The hardware segment held the largest share of the market in 2021 and is estimated to register the highest CAGR of 18.8% in the market during the forecast period.

Based on application, the whole slide imaging market is segmented into telepathology, cytopathology, immunohistochemistry, and hematopathology. The telepathology segment held the largest share of the market in 2021. However, the immunohistochemistry segment is estimated to register the highest CAGR in the market during the forecast period. The telepathology refers to the practice of pathology from distance with the help of advanced telecommunication software and services.

By end user, the whole slide imaging market is segmented into hospital, pharmaceutical and biopharmaceutical companies, laboratories, and academic research institute. The academic research institute segment held the largest share of the market in 2021. However, the pharmaceutical and biopharmaceutical companies segment is estimated to register the highest CAGR in the market during the forecast period. The academic research institutes held the largest market share owing to the increasing number of academic research centers across the world.

Based on geography, the whole slide imaging market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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