According to FutureWise analysis the market for Artificial Intelligence in Digital Pathology in 2023 is US$ 0.33 billion, and is expected to reach US$ 1.17 billion by 2031 at a CAGR of 17%.
The integration of AI and digital pathology has provided pathologists with a validation tool or supplementary analysis tool to implement image analytics by processing more slides in a shorter time period. This can assist pathologists in focusing on specific regions and thus improving the efficiency of final outcomes. The use of artificial intelligence in digital pathology will alter the overall patient experience by providing devices and apps with access to electronic health records, radiology images, and other data, allowing patients to become more engaged with their treatment.
Conventional pathology methods have been crucial in diagnosing, evaluating protein expression semi-qualitatively or qualitatively, and categorizing diseases. Recent developments in digital pathology-based approaches for quantitative pathologic assessments, such as whole slide imaging and artificial intelligence (AI)-based solutions, have been made possible by technological advancements and a greater emphasis on precision medicine. These approaches enable us to explore and extract information that is invisible to the human eye. The use of such approaches in drug development and translational research within the field of immuno-oncology has produced priceless prospects for unraveling complex pathophysiology and finding novel biomarkers and therapeutic targets. Practitioners face a rising issue in determining which course of action is best for each patient as there are more and more treatment options accessible for every particular ailment. Since AI-based methods are increasingly used, professionals understanding of the tumor microenvironment is being expanded significantly. Digital methods for patient stratification and selection for diagnostic tests also enable the determination of the best treatment plan based on patient profiles.
FutureWise Market Research has published a report that provides an insightful analysis of artificial intelligence in digital pathology market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry. According to the analysis conducted by FutureWise research analysts, the artificial intelligence in digital pathology market is estimated to register a considerable growth rate over the forecast period. This report lists the market segments and potential prospects available across this industry, in addition providing crucial information on the total valuation currently held by the industry. Moreover, this report will assist key management individuals in an organisation to enhance their decisions pertaining to business expansion as well as strategic changes for increasing customer base.
As the demand for pathology services grows, so does the use of technological advances to automate and digitise healthcare procedures. In recent years, these advancements have accelerated research and clinical diagnosis, as well as improved patient outcomes. One such technology is AI-powered digital imaging, which has transformed the pathology industry by enabling high-throughput scanning of patient samples. To put it another way, AI-based digital pathology / AI pathology entails collecting, managing, analysing, and sharing data (via digital slides) in a digital setting. By scanning conventional glass slides with a scanning device, digital slides are created that can be viewed on a computer screen or a mobile device and provide a high-resolution digital image. Furthermore, AI pathology offers a viable solution for managing the growing pathology workload while also ensuring more rapid and consistent diagnostic services and research activities. Besides that, AI-powered digital pathology solutions (digital pathology scanners and software) enable pathologists to examine more cases and provide more precise diagnoses. As the utilization of AI is increased it also has become problematic for pathologist to handle the technology. Pathologists in hospitals, previously received glass slides and viewed them with a light microscope, but now they must learn an AI-based method to view diagnostic results. Up to 50% of pathologists are concerned about signing reports based solely on digital slides, and they are concerned about reporting without the instrument that has long been associated with their profession. This factor can be viewed as a challenge for the market due to the decrease in the number of pathologists working in digital pathology.