Whole slide imaging market size is expected to grow significantly from 2019 to 2025. Whole slide imaging market growth is primarily driven by growing demand for personalized medicine worldwide. Growing disease burden worldwide and escalating demand for novel treatments will favor business growth. Rising investments in cancer research for development of personalized medicines is gaining popularity over the recent years. Surge in demand for reliable and effective diagnostic procedures is thus expected to drive whole slide imaging systems industry growth during the forecast period.
Furthermore, focus of pharmaceutical and biopharmaceutical companies on novel drug discovery increase the demand for whole slide imaging. Technological advancement in whole slide imaging devices will serve to be major impact rendering factor in the business growth. For instance, Pannoramic 1000, developed by 3DHISTECH, is a high-end, extra fast and highly efficient slide digitalization system with a 1000-slide capacity that offers reliable solution for high-volume whole-slide imaging. Availability of such products will spur whole slide imaging market size. However, high cost associated with the purchase and maintenance of whole slide imaging systems may impede industry growth over the alaysis period.
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Hardware segment accounted for significant revenue share in 2018 and is estimated to witness similar growth over the coming years. Growing adoption of whole slide imaging will increase the demand for various components including scanners, microscopes and camera among others, thereby augmenting segment growth.
Cancer application segment held momentous revenue in 2018 owing to wide applications of whole slide imaging in cancer research and precision medicine. Technological advancement in digital pathology as well as computer-assisted artificial intelligence technology will further surge the demand for whole slide imaging to facilitate strategic planning for cancer research and precision medicine delivery.
Pharmaceutical & biopharmaceutical companies segment is projected to show tremendous growth over the forthcoming years owing to significant investments by these companies in drug discovery. Increasing adoption of whole slide imaging for development of biomarkers as well as companion diagnostics will favor segment growth.
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Asia Pacific whole slide imaging market is anticipated to witness substantial growth during the analysis period. Large target customer pool in the region prone to various diseases will primarily drive the business growth. Growing emphasis on expansion and development of the healthcare sector will offer numerous growth opportunities. Moreover, rising awareness regarding benefits of whole slide imaging, increasing investments in R&D activities and improvements in patient care facilities will further accelerate the Asia Pacific whole slide imaging industry growth.
Few notable players operating in whole slide imaging market share include 3DHISTECH, Definiens, Hamamatsu Photonics, Indica Labs, Inspirata, Leica Microsystems, Mikroscan Technologies, Nikon Corporation, Olympus and Philips Healthcare. Focus of industry players on various strategies including innovative product launch, partnerships and acquisitions will enable companies to capitalize on market opportunities and maintain market position.