Artificial Intelligence (AI)-Based Digital Pathology Solutions Market to Record Rapid Growth with CAGR of 7.67% by 2030 - Exclusive Report by InsightAce Analytic
According to the latest research by InsightAce Analytic, the global AI-Based Digital Pathology solutions market is expected to grow with a CAGR of 7.67% during the forecast period of 2022-2030.
JERSEY CITY, N.J., Dec. 8, 2022 /PRNewswire/ -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global AI-Based Digital Pathology Solutions Market By Type of Neural Network (Artificial Neural Network, Convolutional Neural Network, Fully Convolutional Network, Recurrent Neural Network, and Other Neural Networks), Type Of Assays (ER Assay, HER2 Assay, Ki67 Assay, PD-L1 Assay, PR Assay and Other Type of Assays), Target Disease Indication Type (Breast Cancer, Colorectal Cancer, Cervical Cancer, Gastrointestinal Cancer, Lung Cancer, Prostate Cancer, and Other Indications) Application (Diagnosis, Research, And Other Applications), End-User Segment (Academic Institutions, Hospitals/Healthcare Institutions, Laboratories/Diagnostic Institutions, Research Institutes And Other)- Trends, Industry Competition Analysis, Revenue and Forecast To 2030."
According to the latest research by InsightAce Analytic, the global AI-Based Digital Pathology solutions market is expected to grow with a CAGR of 7.67% during the forecast period of 2022-2030. The prominent market players includes PathAI, Paige.AI, Akoya Biosciences, Aiforia, aetherAI, CellCarta, Deep Bio Inc., DoMore Diagnostics, PROSCIA, Pramana, Inc., Visiopharm A/S, Roche Tissue Diagnostics, Indica Labs, Ibex Medical Analytics, LDPath, OracleBio Limited, Verily, Mindpeak GmbH, Proscia Inc., SamanTree Medical SA, Tempus AI, Techcyte, Inc., Tribun Health and other vital companies.
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Due to the increasing disease prevalence, the significance of digital pathology (DP) for the pharmaceutical industry, and the approval of regulatory agencies to use digital pathology in primary diagnosis, the pathology market is expected to grow significantly. New business models, such as on-demand services, will play a pivotal role in gaining access to untapped markets and increasing the widespread adoption of digital pathology over the forecast period. Moreover, with digital solutions being so expensive, solution providers are taking advantage of this concern by setting up regional service centres that will serve the needs of diagnostic labs in emerging markets by providing slide scanning and image analysis services and image storage services.
With the advent of computational pathology, DP will create possibilities for developing AI-based diagnostic tools that will make it possible to make more precise and reproducible diagnoses. Pattern recognition and generation of perception are essential features of AI. As a result, the integration of AI into DP can provide additional morphological information and features. DP and AI development are both accelerating at an increasing rate, leading to increased interest in computational pathology. It has already been reported that AI-based solutions have shown promising results in detecting prostate cancer.
The launch of new advanced devices by medical device companies is also expected to be responsible for an increase in research into AI-Based Digital Pathology's abilities as a diagnostic tool for cancer diagnosis, which in turn will lead to the rise in the market's expansion. During the forecast period, digital pathology solutions will continue to drive market revenue growth due to the increasing use of digital pathology solutions in drug development and biomarker identification.
Nevertheless, the lack of computational analytical tools and the high capital investment required to expand internationally are two market limitations. Additionally, a slow rate of technological advancement may hinder the growth of AI-based digital pathology solutions on the market. As a result of the improvement in healthcare infrastructure, the rise in per capita income, and the existence of advanced research institutes and laboratories, North America accounts for the largest share of the global market for Artificial Intelligence-Based Digital Pathology solutions. Major drivers promoting the dominance of this regional market are the continued deployment of R&D investments, the implementation of digital imaging, supportive government initiatives, and the presence of prominent companies domiciled in the region. Another factor contributing to the growth of the market is that a digital pathology-focused AI-based tool designed to detect invasive breast cancer and skin lesions has been approved for use by AI-based, digital pathology-focused companies.
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Key developments in the market
- In October 2022, Tribun Health and GE Healthcare joined forces to provide comprehensive patient record solutions for digital pathology departments. GE Healthcare and Tribun intend to integrate Tribun's Health Suite data into its vendor-neutral archive (VNA), Edison Datalogue, to offer a data management solution. This project is expected to integrate digital pathology images with the imaging patient record, provide more accurate pathology reports in less time with artificial intelligence (AI) assisted by Tribun's Health Suite, and provide data in a consolidated location to facilitate collaboration among pathologists and clinicians.
- In August 2022, Indica Labs, which specializes in digital pathology and image management solutions, partnered with the Industrial Center for Artificial Intelligence Research in Digital Diagnostics (iCAIRD). The development of a digital pathology solution utilizing artificial intelligence (AI) to detect cancer in lymph nodes from colorectal surgery patients has been announced as part of a collaboration.
- In March 2022, The Cleveland Clinic and PathAI, the global leader in artificial intelligence (AI)-based pathology technology, announced a five-year strategic collaboration focused on utilizing PathAI's quantitative pathology algorithms to conduct new translational research as well as for clinical diagnostics in multiple disease areas. Using PathAI's AI-based platforms and Cleveland Clinic's clinical expertise, this collaborative effort will enable the implementation of next-generation pathology diagnostics across the entire system.
- In October 2021, A collaboration between Roche and PathAI to develop digital pathology applications based on artificial intelligence was announced. Researchers will create a workflow for pathologists for image analysis under the development and distribution agreement. Through its cloud version, NAVIFY Digital Pathology, Roche's enterprise software uPath seven can access PathAI's image analysis algorithms. Pathologists now have easy access to third-party AI-powered technology alongside Roche's growing inventory of AI-based image analysis tools through Roche's Digital Pathology Open Environment.
Market Segmentation:
Global AI-Based Digital Pathology Solutions Market, by Type of Neural Network, 2022-2030 (Value US$ Mn)
- Artificial Neural Network
- Convolutional Neural Network
- Fully Convolutional Network
- Recurrent Neural Network
- Other Neural Networks
Global AI-Based Digital Pathology Solutions Market, by Type Of Assay, 2022-2030 (Value US$ Mn)
- ER Assay
- HER2 Assay
- Ki67 Assay
- PD-L1 Assay
- PR Assay
- Other Type of Assays
Global AI-Based Digital Pathology Solutions Market, by Type Of Target Disease Indication, 2022-2030 (Value US$ Mn)
- Breast Cancer
- Colorectal Cancer
- Cervical Cancer
- Gastrointestinal Cancer
- Lung Cancer
- Prostate Cancer
- Other Indications
Global AI-Based Digital Pathology Solutions Market, by Application, 2022-2030 (Value US$ Mn)
- Diagnostics
- Research
- Other Applications
Global AI-Based Digital Pathology Solutions Market, by End-User, 2022-2030 (Value US$ Mn)
- Academic Institutions
- Hospitals/Healthcare Institutions
- Laboratories/Diagnostic Institutions
- Research Institutes
- Other End Users
Global AI-Based Digital Pathology Solutions Market, by Region, 2022-2030 (Value US$ Mn)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
North America AI-Based Digital Pathology Solutions Market, by Country, 2022-2030 (Value US$ Mn)
- U.S.
- Canada
Europe AI-Based Digital Pathology Solutions Market, by Country, 2022-2030 (Value US$ Mn)
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
Asia Pacific AI-Based Digital Pathology Solutions Market, by Country, 2022-2030 (Value US$ Mn)
- India
- China
- Japan
- South Korea
- Australia & New Zealand
Latin America AI-Based Digital Pathology Solutions Market, by Country, 2022-2030 (Value US$ Mn)
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa AI-Based Digital Pathology Solutions Market, by Country, 2022-2030 (Value US$ Mn)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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Why should buy this report:
- To receive a comprehensive analysis of the prospects for the global AI-Based Digital Pathology solutions market
- To receive an industry overview and future trends of the AI-Based Digital Pathology solutions market
- To analyze the AI-Based Digital Pathology solutions market drivers and challenges
- To get information on the AI-Based Digital Pathology solutions market size (Value US$ Mn) forecast to 2030
- To get information on significant investments, mergers & acquisitions in the AI-Based Digital Pathology solutions industry
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