The AI-based digital pathology market has seen considerable growth in recent years owing to the increasing application of deep learning and AI in medical image analysis. Digital pathology uses digital scanning devices to convert glass slides into high-resolution, digital, zoomable images that can be evaluated on computer screens. Some key advantages of digital pathology include increased productivity as multiple pathologists can view the same case simultaneously, remote sharing of cases with other locations for consultation, and utilization of AI and machine learning algorithms to provide quantitative analysis and assist diagnosis. The growing prevalence of cancer and rising clinical workload on pathologists has highlighted the need for more efficient ways for primary diagnosis, consultation, and collaboration.
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, and Indica Labs. These companies are investing in research and product development to advance AI-assisted pathology diagnostics.
The growing use of computational pathology in routine clinical workflows as well as research applications provides lucrative opportunities for AI vendors. Partnerships between pathology labs, diagnostic companies and AI startups will help accelerate clinical adoption.
Recent advancements in deep neural networks, transfer learning techniques, and large curated medical image datasets have enabled more accurate computer-aided detection of cancerous lesions, quantitative image analysis and disease classification to assist pathologists.
Market Drivers
Rising workload on anatomical pathologists due to increasing cancer incidence and clinical diagnostic needs is a key factor driving the demand for digital pathology solutions integrated with AI/ML. It is estimated that over 20 million new cancer cases will be diagnosed globally each year by 2025. Automation of routine diagnostic tasks through deep learning can help reduce the burden on human pathologists. The ability of AI to analyse huge volumes of visual data and identify subtle morphological patterns not visible to the human eye is another growth driver for this market.
Current Challenges In AI-Based Digital Pathology Market
The AI-based digital pathology market is still in a nascent stage and faces many challenges. Pathologists still rely heavily on traditional glass slide examination under microscopes for diagnosis. Wider adoption of digital pathology is limited due to concerns around diagnostic accuracy and image quality of whole slide images produced by scanners. High cost of whole slide scanners also acts as a deterrent for smaller pathology laboratories and hospitals. Lack of interoperability standards between different systems leads to vendor lock-in and hampers multi-vendor solution adoption. Developing annotated datasets required for deep learning algorithms is a resource and labor intensive process. Shortage of trained experts in digital pathology and AI further constrains the market growth.
SWOT Analysis
Strength: AI algorithms can analyze large volumes of digitized pathology data at a faster rate than humans. This improves diagnostic efficiency and workload management for pathologists.
Weakness: Accuracy and validation of AI models depend on quality and size of training datasets which are still limited. Predictions may not match expert-level human diagnosis.
Opportunity: Adoption in developing countries where pathologist availability is limited. Telepathology applications for remote consultations and collaborative diagnostics.
Threats: Data privacy and security concerns around digitizing and sharing of sensitive patient health information. Lack of regulation for commercial use of AI in pathology diagnostics.
Geographical Regions
North America accounted for the largest share of the AI-Based Digital Pathology Market in 2024 owing to rapid technological advancements, favorable reimbursement policies, and presence of key market players in the US. The Asia Pacific region is expected to grow at the fastest pace during the forecast period due to rising healthcare investments, increasing cancer incidence, and expanding diagnostic infrastructure in China and India.
Fastest Growing Geographical Region
The Asia Pacific region will witness the highest growth in the AI-based digital pathology market through 2031. Countries like China, India, Japan, and South Korea are increasing expenditure to modernize their pathology facilities. Growing medical tourism, rising awareness about early cancer diagnosis, and initiatives by governments and private laboratories to provide statewide digital infrastructure are driving wider adoption of digital pathology solutions in Asia Pacific. Entry of global market leaders is also boosting technological advancements in the region.
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