Global Whole Slide Imaging Market Overview
On account of growing adoption of technologically advanced techniques in research and educational sectors, the whole slide imaging market is expected to increase over the forecast period. On account of increasing number of diagnostic facilities, increasing patient turnaround, reducing re-examination costs and more, whole slide imaging market will accentuate significantly during the forecast period across the globe. Increasing number of mergers and acquisitions by market players in order to obtain greater advancements, at cost efficient rates and minimal complexity is estimated to boost the whole slide imaging market growth. Growing usage of digital pathology along with favorable reimbursement policies for improved quality of cancer diagnosis is contributing additionally in the whole slide imaging market progression.
Market Size & Forecast
The whole slide imaging market is estimated to expand at a CAGR of 13.9% over the forecast period. Advancements in research industry in the past few years and growing technological explorations are projected to drive the whole slide imaging market during the forecast period. Many multi-national companies are concentrating towards new product advances in whole slide imaging. Moreover, the global whole slide imaging market is observing vibrant growth owing to increasing government initiatives to eliminate pathological diseases at a rapid pace along with growing medical and biotechnological research sector around the globe. Additionally, incorporation of hybrid models and various API algorithms for faster and efficient diagnosis is expected to push the whole slide imaging market further during the forecast period.On the basis of regional platform, global Whole Slide Imaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is estimated to observe a substantial growth in whole slide imaging market on the back of rising demand for computer aided diagnosis along with research across the region during the forecast period. North America is panned to be followed by Asia Pacific on the back of growing incidences of pathological diseases across the region accompanied with rising government initiatives for rapid diagnosis and disease elimination across the region.
Europe is estimated to exhibit a budding growth in the whole slide imaging market during the forecast period on the back of growing adoption of technologically advanced systems in medical as well as research field accompanied with high prevalence of geriatric population with application in biomarker profiling and tumor morphological study.
Growth Drivers & Challenges
Growing demand for Accuracy in Research & Pathology Sector
Rising trend towards adoption of virtual slides in contrast with physical slides on the back of increasing networking in hospitals and collaborations is resulting in higher demand for accurate testing tools in research and pathology. Thus, rising demand for medical analysis with greater accuracy is expected to drive the global whole slide imaging market over the forecast period. Virtual Microscopy used in whole slide imaging by computerized tools can aid in the production of educational material to the integration of hospital patient record systems which is attributed to serve as a significant factor in the growth of the whole slide imaging market over the forecast period.
Upsurge in Clinical Urgency
On the back of rising incidences of pathological diseases such as, necrosis, leukemia, dysplasia, leprosy and others, the demand for accurate clinical testing has amplified, which is attributable to robust increase in whole slide imaging market growth over the forecast period across the globe. The WHO reported that a total of 147 countries or territories reported on leprosy in the year 2017 accompanied with detection of 210 973 new cases of leprosy across the globe. The WHO also reported 193 069 cases registered prevalence around the globe associated to leprosy. The increasing need for these conventional diagnostic measures in order to reduce detection time and lower diagnostic complexities for pathologists, the whole slide imaging market is anticipated to be driven sturdily during the forecast period.
Additionally, on the back of rapid technological advancements and growing healthcare expenditure accompanied with lowering healthcare costs is predicted to aid the whole slide imaging market considerably over the forecast period around the world.
Association of High Costs during System Set-up and Maintenance
However, cost constraints associated with software implementation & maintenance along with security issue concerns are anticipated to play as restraining factors in the sturdy growth of the whole slide imaging market. Moreover, additional cost constraints in system setting-up accompanied with lack of skilled staff across the under-developed and developing countries capable of handling these complex systems is estimated to hinder the market further over the forecast period.
Our-in depth analysis of the global Whole Slide Imaging market includes the following segments:
- IT Infrastructure
- Image Management System
- Education Institutions
- Research Laboratories
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Global Whole Slide Imaging Market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Top Featured Companies Dominating The Market
- Philips Healthcare
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Olympus Corporation
- Definiens AG
- Leica Microsystems GmbH
- Ventana Medical Systems Inc.
- Nikon Corporation
- Hamamatsu Photonics KK
- Mikroscan Technologies Inc.
- Other Prominent players