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Whole Slide Imaging Market size will showcase notable expansion from 2021 to 2027 owing to the increasing prevalence of chronic diseases and the surging need for reliable diagnostic procedures. The rising focus on patient safety has increased the demand for clear and high-resolution digital images across pathological facilities. The mount in technological advancements and the emergence of computer-assisted artificial intelligence and digital pathology technologies is likely to infuse a favorable scenario for the market growth.
Shifting preference towards virtual slides, in comparison to physical slides along with the growing intake of personalized medicines are some factors impelling this industry dynamics.
The hardware segment is anticipated to expand with the rise in the number of product innovations and approvals. Apart from offering some latest computational pathology solutions, whole slide imaging hardware mainly constitutes components, such as microscopes with lens objectives, digital cameras for capturing images, computer and light sources. Deployment of robotics for loading and moving the glass slides around will also contribute towards the segment expansion.
Cancer segment is expected to emerge as a profit-enhancing source for the market led by the increasing need for effective treatment and the global prevalence of the disease. According to the World Health Organization (WHO), cancer is a major cause of death across the world and accounted for over 10 million deaths in 2020. The rising adoption of smoking and higher alcohol consumption together with the elevating air pollution levels has made way for the spiraling R&D activities. The mounting incidences of breast cancer will favor the market progression.
The demand for whole slide imaging solutions across pharmaceutical & biopharmaceutical companies will observe an inclination. This is mainly due to the increasing investments in drug discovery and the influx of cutting-edge digital imaging technologies. The surge in the number of innovative products and growing advancements in companion diagnostics will result in prolific market expansion.
Asia Pacific whole slide imaging market is set to attain notable proceeds between 2021 and 2027 on account of the rising advancements across the healthcare vertical. As the region is home to an expanding population base prone to various diseases, there is a significant rise in the number of drug discovery activities. The increasing up-gradation of patient care facilities and the jump in R&D investments has paved the path for higher consumer awareness, complimenting the regional proliferation of the industry.
The market is competitive and includes the presence of players, such as Hamamatsu Photonics, Mikroscan Technologies, Visiopharm, Leica Microsystems (Danaher Corporation), 3DHISTECH, Philips Healthcare, Ventana Medical Systems Inc. (Roche Holding AG), Nikon Corporation, Indica Labs, Inspirata, and Definiens (AstraZeneca)
Novel product developments, technological progressions, marketing partnerships, such as acquisitions, as well as R&D investments, are some of the well-known initiatives undertaken by these companies to enhance their geographical footprint.
For instance, in December 2019, 3DHISTECH, introduced a hardware upgrade to PANNORAMIC® MIDI II, its best-selling slide for digital pathology. The new features include enhanced image qualities for fluorescence slides and the Status LED indicator to facilitate user-friendly operations.
Similarly, Olympus Corporation, in December 2019, inked a co-marketing agreement with Ultivue for the former’s SLIDEVIEW™ VS200 slide scanner and Ultivue UltiMapper™ reagents to offer leading-edge fluorescent multiplexing solutions.
The current COVID-19 pandemic took a massive toll on the global economy and tremendously impacted the day-to-day financial processes and operations of businesses worldwide. However, the incursion of whole slide imaging saw a substantial boom amidst the crisis owing to its prolific use for primary diagnosis and to assist healthcare departments with uninterrupted histopathology diagnosis. In addition, the technology also helped pathologists in working remotely across regions with severe logistical constraints.
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