Global Whole Slide Imaging Market - Segmented by Technology and by End User - Growth, Trends, and Forecast (2018 - 2023)
The whole slide imaging market is expected to witness a CAGR of 17.00% during the forecast period. North America is the dominant for the whole slide imaging due to several factors, such as rising adoption of digital pathology and increase in awareness regarding growing advantages of whole slide imaging over the traditional histopathological slides imaging.
Technological Advancements in Whole Slide Imaging
Major advances in digital technology have occurred since the introduction of handheld electronic devices, including the development of whole slide imaging (WSI) systems with software packages that can convert microscope images into virtual (digital) slides that can be viewed on the computer monitors and through the internet. However, these technological developments have had minimal impact on the way pathologists perform their daily work, with the exception of using computers to access electronic medical records and scholarly websites for pertinent information to assist interpretation of cases. This is expected to drive the adoption rate of whole slide imaging systems for the diagnostic purposes.
Additionally, increasing incidence of cancer and public & private initiative for the digital pathology is driving the global whole slide imaging market.
High Cost of Whole Slide Imaging Systems
FDA has approved the whole slide imaging systems for primary diagnosis, which is expected to improve the market, however, the reluctance towards digital pathology due to the high cost of the whole slide imaging systems is acting as a restraint to the market. It is estimated that a whole slide imaging system installation approximately costs USD 130,000, which is inhibiting the pathologists from adopting whole slide imaging systems.
Additionally, pending regulatory approvals are also restraining the growth of global whole slide imaging market.
North America is dominating the market
North America, owing to factors such as rising adoption of digital pathology and increase in awareness regarding growing advantages of whole slide imaging over the traditional histopathological slides imaging, is dominating the whole slide imaging market. Furthermore, the growing need of whole slide analysis due to a rise in disease prevalence in the region and growing trend of adoption of digital platform in healthcare sectors would further boost the market growth in North America. For instances, about 1.5 billion histopathological slides are investigated manually each year in the U.S. alone, which is likely to augment a huge demand for whole slide imaging among the end users in the region.
Key Developments in the Market
- January 2018: Inspirata acquired Toronto based Artificial Intelligence in Medicine, Inc. (AIM) to enhance its R&D in artificial intelligence.
- January 2018: Inspirata acquired digital pathology company Omnyx from GE Healthcare for primary diagnosis in Europe and Canada
Major Players: OLYMPUS CORPORATION, PHILIPS HEALTHCARE, DEFINIENS AG, LEICA MICROSYSTEMS GMBH, VENTANA MEDICAL SYSTEMS INC., NIKON CORPORATION, VISIOPHARM, 3DHISTECH, HAMAMATSU PHOTONICS K.K., INDICA LABS, INSPIRATA AND MIKROSCAN TECHNOLOGIES INC., amongst others.
Reasons to Purchase this Report
- Current and future whole slide imaging market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Identifying the segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in Excel)
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- 1. Introduction
- 1.1 Market Definition
- 2. Research Methodology
- 3. Executive Summary
- 4. Key Inferences
- 5. Market Overview
- 5.1 Current Market Scenario
- 5.2 Porters Five Forces Analysis
- 5.2.1 Bargaining Power of Suppliers
- 5.2.2 Bargaining Power of Consumers
- 5.2.3 Threats of New Entrants
- 5.2.4 Threat of Substitute Product and Services
- 5.2.5 Competitive Rivalry Within the Industry
- 6. Drivers, Restraints, Opportunities, And Challenges Analysis (DROC)
- 6.1 Market Driver
- 6.1.1 Growing Popularity of Virtual Slides as Compared To Physical Slides.
- 6.1.2 Technological Advancements in Whole Slide Imaging
- 6.1.3 Growing Research in Drug Discovery
- 6.2 Market Restraints
- 6.2.1 Stringent Regulatory Approvals
- 6.2.2 High Cost of Whole Slide Imaging Systems
- 6.3 Opportunities
- 6.4 Key Challenges
- 7. Market Segmentation
- 7.1 By Technology
- 7.1.1 Scanners
- 7.1.2 IT Infrastructure
- 7.1.3 Viewer
- 7.1.4 Image Management System
- 7.2 By Application
- 7.2.1 Telepathology
- 7.2.2 Cytopathology
- 7.2.3 Immunohistochemistry
- 7.2.4 Hematopathology
- 7.3 By End User
- 7.3.1 Education
- 7.3.2 Research
- 7.3.3 Clinical
- 7.4 By Geography
- 7.4.1 North America
- 18.104.22.168 United States
- 22.214.171.124 Canada
- 126.96.36.199 Mexico
- 7.4.2 Europe
- 188.8.131.52 France
- 184.108.40.206 Germany
- 220.127.116.11 United Kingdom
- 18.104.22.168 Italy
- 22.214.171.124 Spain
- 126.96.36.199 Rest of Europe
- 7.4.3 Asia-Pacific
- 188.8.131.52 China
- 184.108.40.206 Japan
- 220.127.116.11 India
- 18.104.22.168 Australia & New Zealand
- 22.214.171.124 South Korea
- 126.96.36.199 Rest of Asia-Pacific
- 7.4.4 Middle East & Africa
- 188.8.131.52 GCC
- 184.108.40.206 South Africa
- 220.127.116.11 Rest of Middle East & Africa
- 7.4.5 South America
- 18.104.22.168 Brazil
- 22.214.171.124 Argentina
- 126.96.36.199 Rest of South America
- 8. Competitive Landscape
- 8.1 Mergers and Acquisition Analysis
- 8.2 Agreements, Collaborations, and Partnerships
- 8.3 New Products Launches
- 9. Key Players
- 9.1 Olympus Corporation
- 9.2 Philips Healthcare
- 9.3 Definiens AG
- 9.4 Leica Microsystems GmbH
- 9.5 Ventana Medical Systems Inc.
- 9.6 Nikon Corporation
- 9.7 Visiopharm
- 9.8 3Dhistech
- 9.9 Hamamatsu Photonics K.K.
- 9.10 Indica Labs
- 9.11 Inspirata
- 9.12 Mikroscan Technologies Inc.
- *List not exhaustive
- 10. Future Outlook of the Market
- 11. Disclaimer