by The AI-based digital pathology market has seen tremendous growth in recent years as it provides pathologists a digital platform for slides, images, and diagnostic workstations. By digitizing glass slides, digital pathology supports efficient sharing of cases among healthcare professionals, remote pathology diagnosis, and helps in improving clinical workflows. It aids in faster and more accurate disease diagnosis compared to traditional methods, often in combination with AI algorithms.
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 market are Aiforia Technologies, Akoya Biosciences, Ibex Medical Analytics, Indica Labs, and PathAI. These leaders are investing in developing advanced AI algorithms and digital platforms.
The growing applications of AI and digitization across various disease diagnosis presents lucrative opportunities for market players. Digital pathology can help pathologists analyze huge volume of data and rare cases efficiently.
Increasing adoption of digital pathology solutions across developed regions of North America and Europe will further drive the global expansion of this market over the coming years. Several emerging economies are also expected to increase investments to utilize digital pathology technologies.
Market drivers: The wide application scope of AI-based digital pathology solutions across various disease areas like cancer, infectious diseases is a major market driver. It can improve diagnostic accuracy for hard-to-diagnose diseases. The ability of digital pathology to provide remote access to medical expertise widens its potential in underserved regions.
PEST Analysis
Political: Laws and regulations play a key role in diagnosing patients and adherence to patient privacy requirements. Favorable regulations can boost the adoption of AI-based digital pathology solutions.
Economic: The overall growth of the healthcare industry and increasing healthcare spending is fueling investments in new diagnostic technologies. The ability of AI to expedite diagnosis and reduce diagnostic costs are key economic factors.
Social: Rising awareness about the benefits of AI in healthcare applications and early disease detection. Connectivity and mobility trends enable solutions accessibility.
Technological: Advancements in AI, machine learning, deep learning, image analysis are enabling high-accuracy disease diagnostics from digitized tissue slides. Integration of AI with digital pathology workstations improves disease classification and detection capabilities.
Geographical Regions With High Market Concentration
North America accounts for the largest share of the global AI-based digital pathology market, primarily due to increased healthcare spending, advanced healthcare infrastructure, and presence of major players. The availability of research funding and presence of top medical schools are boosting R&D activities.
Fastest Growing Regional Market
The Asia Pacific region is expected to witness the highest growth during the forecast period due to growing geriatric population, increasing healthcare expenditure, rising prevalence of chronic diseases, developing healthcare infrastructure, and growing focus of international players. Growing medical tourism and government initiatives are likely to support the adoption of AI-based digital pathology in Asia Pacific.
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
About Author - Ravina Pandya
Ravina Pandya,a 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, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
