Global AI in Pathology Market Analysis Report 2023-2028: Transforming Diagnostic Decision-Making with Advanced Computational Tools with Drug Discovery Dominating

DUBLIN, Nov. 7, 2023 /PRNewswire/ -- The "AI in Pathology Market by Component (Software, Scanners), Neural Network (CNN, GAN, RNN), Application (Drug Discovery, Diagnosis, Prognosis, Workflow, Education), End User (Pharma, Biotech, Hospital Labs, Research), & Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global AI in pathology market is projected to reach USD 49 Million by 2028 from USD 24 Million in 2023, at a high CAGR of 15.6% 

This report provides a valuable resource for established firms and emerging companies, enabling them to assess the current state of the AI in pathology market and seize market opportunities. Companies acquiring this report can implement a variety of strategies to bolster their market positions.

The AI in pathology market pertains to the sector within the healthcare industry where companies develop, promote, and deliver products and services incorporating specialized artificial intelligence technologies tailored for pathology applications. This market focuses on harnessing AI algorithms, machine learning methodologies, and advanced computational tools to augment and automate various facets of the pathology workflow.

Within the AI in pathology market, firms engage in the development, deployment, and utilization of AI technologies meticulously crafted for pathology applications. AI models are employed to analyze clinical data, genomic information, and pathology images, enabling predictions regarding patient prognosis and disease progression.

These models facilitate personalized treatment planning, identification of high-risk patients, and the optimization of healthcare resource allocation. The process involves employing advanced computational algorithms, machine learning techniques, and computer vision approaches to scrutinize pathology images, extract pertinent data, and aid pathologists in diagnostic decision-making.

The North American market is poised to exhibit remarkable growth, primarily attributed to several factors. Notably, significant investments have been made to modernize pathology infrastructure in the region, propelling market expansion. Furthermore, the adoption of digital pathology solutions in North America is on the rise, contributing to the overall market augmentation. Additionally, the continuous expansion of healthcare infrastructure and the increasing availability of advanced AI technologies in the market further fuel growth in this region.

The growing emphasis on technology, patient safety, quality enhancement, and advancements in medical devices, coupled with government initiatives, continually drive the adoption of AI in the pathology market in North America.

This report offers an in-depth evaluation of market shares, growth strategies, product offerings, and the capabilities of leading players in the AI in pathology market, such as Koninklijke Philips N.V. (Netherlands), F. Hoffmann-La Roche Ltd (Switzerland), and Hologic, Inc. (US).

The drug discovery segment accounted for the largest share during the forecast period, by application.

In 2022, the drug discovery segment held the largest share of the AI in pathology market. The significant growth in this segment can be attributed to various factors, including the advancements in high throughput screening and imaging technologies, the increasing utilization of AI in toxicology testing for illicit drugs, the rising expenditure on pharmaceutical and biotechnology research and development (R&D), and the ability of AI in pathology to accelerate the development of new therapeutics, improve diagnostic accuracy, and enhance approaches to personalized medicine.

These factors contribute to the substantial share of the drug discovery application segment in the AI in pathology market.

Pharmaceutical and biotechnology companies is the fastest growing end-user segment in the AI in pathology market in 2022.

The AI in pathology market is divided into different end-user segments, including pharmaceutical and biotechnology companies, hospitals and reference laboratories, and academic and research institutes. Among these, the pharmaceutical and biotechnology companies segment is projected to witness the highest growth rate during the forecast period.

This segment's significant share and rapid growth can be attributed to the advancement of drug discovery and development processes, as well as the increasing utilization of AI in pathology for drug toxicology testing. Biotechnology companies rely on AI-based digital pathology for various purposes, including biobanking, biopharmaceutical studies, molecular assays, and the development of individualized medicine.

Premium Insights

• Growing Digitization of Pathology to Drive Market Growth
• Software Segment to Command Largest Share of Asia-Pacific Market in 2023
• Market in UK to Grow at Highest CAGR
• North America to Witness Highest Growth During Forecast Period
• Developed Markets to Register Higher Growth Rates

Industry Insights

Industry Trends

• Improved Quality Control with Artificial Intelligence
• Transformation in Staining Techniques
• Increasing Investments for AI in Pathology

Technology Analysis

• Machine Learning (Ml) and Deep Learning (Dl)
• Image Analysis and Computer Vision
• Natural Language Processing (Nlp)
• Data Integration and Fusion
• Augmented Pathology and Decision Support Systems
• Predictive Analytics and Prognostic Models
• Cloud Computing and Big Data Infrastructure

Case Study Analysis

• Case Study 1: Pathai Uses Pytorch to Improve Patient Outcomes with AI-Powered Pathology
• Case Study 2: Combating Cervical Cancer with AI

Market Dynamics

Drivers

• Increasing Number of Partnerships and Collaborations Among Players to Develop and Launch Advanced AI in Pathology Solutions
• Growing Digitalization of Pathology
• Growing Cases of Misdiagnoses
• Augmenting Telepathology with AI Advancements
• Technological Advancements in Deep Learning

Restraints

• High Cost of Digital Pathology Systems
• Shortage of Skilled AI Workforce and Ambiguous Regulatory Guidelines for Medical Software

Opportunities

• Growing Demand for Personalized Medicine
• Shortage of Skilled Pathologists

Challenges

• Lack of Sufficient Data to Train AI Algorithms
• Data Privacy Concerns
• Lack of Transparency and Interoperability

Company Profiles

Key Players

• Koninklijke Philips N.V.
• F. Hoffmann-La Roche Ltd.
• Hologic, Inc.
• Akoya Biosciences, Inc.
• Aiforia Technologies plc
• Indica Labs Inc.
• Optrascan, Inc.
• Ibex Medical Analytics Ltd.
• Mindpeak GmbH
• Tribun Health
• Techcyte, Inc.
• Deep Bio Inc.
• Lumea Inc.
• Visiopharm
• Aether AI
• Aiosyn
• Paige AI, Inc.
• Proscia, Inc.
• Pathai, Inc.
• Tempus Labs, Inc.

Other Players

• Konfoong Bioinformation Tech Co. Ltd.
• Domore Diagnostics as
• Verily Life Sciences, LLC
• Deeppath
• 4D Path Inc.

For more information about this report visit https://www.researchandmarkets.com/r/rkzhdj

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