The Ai-based Digital Pathology Market Is Driven By Rising Demand For Precision Diagnosis

By Author: colin
Total Articles: 166
Comment this article

The AI-based digital pathology market involves the application of artificial intelligence and machine learning algorithms to digitized histopathology images. Digital pathology offers several advantages over traditional microscopy such as remote collaboration capabilities, automated image analysis, real-time decision support and long-term image storage. The digitization of histopathology slides enables computer-aided analysis of tissue samples to extract relevant biomarkers, predict disease prognosis and glean insights that may have been missed during manual examination.

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 are Aiforia Technologies, Akoya Biosciences, Ibex Medical Analytics, Indica Labs, PathAI. Aiforia Technologies provides AI-based solutions for fast and accurate image analysis. Akoya Biosciences offers spatial phenotyping solutions that combine whole slide image analysis and multiplexed immunofluorescence readouts. ...
... Ibex Medical Analytics leverages deep learning to automate cancer analysis from slides. Indica Labs has developed an AI-based digital pathology platform that facilitates integrated diagnosis and management of cases. PathAI provides solutions for primary diagnosis as well as second opinion consultation using AI.

Growing demand in the market is attributed to the need for improved diagnosis of complex diseases like cancer. AI helps overcome limitations of manual microscopy and enables quantitative analysis of multiple slides in less time. This improves diagnostic workflow efficiency and decision making abilities of pathologists. The ability of AI solutions to detect subtle morphological features not visible to the naked eye is fueling their demand.

The adoption of digital pathology is also increasing globally with more healthcare facilities integrating scanners and adopting AI-based applications. Key players are expanding their geographical presence to tap demand from emerging Asian, Latin American and Middle Eastern markets. Collaboration with healthcare providers and diagnostic labs in these regions will further accelerate the global expansion of the AI-based digital pathology market over the coming years.

Market Drivers

The key driver propelling the AI-based digital pathology market is the rising demand for precision diagnosis. AI-powered whole slide analysis and automated image recognition capabilities improve diagnostic accuracy for diseases with morphological heterogeneity like cancer. By providing quantitative measurements, predicting biomarker expression and outcome probabilities, AI assists pathologists to make more informed treatment decisions. This is expected to drive increased adoption of AI-based digital pathology solutions across healthcare facilities over the forecast period.

Impact Of Geopolitical Situation On Market Growth

The ongoing geopolitical tensions and conflicts globally are expected to impact the growth of the AI-based digital pathology market. Geopolitical uncertainties arising due to increasing Russia-Ukraine war, China-Taiwan conflict and US-China trade relations are disrupting global supply chains and trade relationships. This is challenging market players to diversify their manufacturing and distribution networks across multiple countries and regions. Supply of key raw materials and components for digital pathology systems like semiconductor chips is facing shortage issues due to geopolitical trade curbs. Rising raw material costs due to inflationary environment is also putting pressure on margins of companies. Further political and economic instability in certain regions is hindering large scale adoption of advanced digital pathology solutions in those areas. Market players need to closely monitor evolving geopolitical dynamics and proactively plan strategic moves to mitigate risks and ensure consistent supply and demand. Collaborating with local players can help gain foothold in politically volatile markets.

Geographical Regions With High Market Concentration

North America currently holds the largest share of the AI-based digital pathology market in terms of value, primarily led by developed healthcare infrastructure and availability of advanced diagnostic facilities in countries like United States and Canada. High acceptance of new digital technologies among pathologists combined with supportive reimbursement policies for diagnostic services is fueling market growth. Growing clinical research in the area of cancer and presence of leading industry players in the region also contributes to its prominent position. Europe stands as the second largest regional market driven by rising cancer incidence, increasing healthcare spending capacity and government initiatives for digitization of pathology workflows.

Fastest Growing Region For The AI-Based Digital Pathology Market

Asia Pacific region is poised to emerge as the fastest growing market for AI-based digital pathology over the forecast period. Rising healthcare expenditure, growing focus on early disease diagnosis and rapid modernization of pathology diagnostic facilities particularly in densely populated countries like China and India provides impetus. In addition, rising per capita income levels, reimbursement reforms and expansion of private healthcare insurance are boosting adoption of high-end digital pathology solutions in the region. Large untapped opportunities, along with initiatives by industry players and governments to spread awareness about benefits of digital pathology analysis are fueling market expansion.

Get more insights on this topic: https://www.timessquarereporter.com/health/ai-based-digital-pathology-market-to-grow-at-highest-pace-owing-to-advancements-in-deep-learning-and-machine-vision-technologies

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