At 17.5% CAGR, the South & Central America Whole Slide Imaging Market is projected to be worth US$ 56.11 million by 2028, says Business Market Insights   

According to Business Market Insights’ research, the South & Central America whole slide imaging market was valued at US$ 21.36 million in 2022 and is expected to reach US$ 56.11 million by 2028, registering an annual growth rate of 17.5% from 2022 to 2028. Boosting utilization of artificial intelligence for better processing and outcomes and elevating technological advancements in whole slide imaging.               

Extensively increasing integration of medical services and digital platforms is leading to increasing popularity and acceptance of digital consultation. Artificial intelligence (AI) is one such technology, which has been reshaping the course of medical imaging and pathology in recent years. Artificial intelligence makes it much easier to utilize digitized consultation images for diagnostics as well as workflow applications. The prominent use of these digitized images is to generate diagnostic algorithms that can augment the diagnostic workflow. In addition, players are also focusing on development of AI-based products. For instance, December 2021, for breast cancer, Roche introduces three artificial intelligence (AI)-based, deep learning image analysis Research Use Only (RUO) algorithms. Artificial intelligence (AI) advances and the growing digitization of pathology are promising approaches to meet the demand for accurate detection, classification, and prediction of patients. Apart from three image analysis, the whole slide analysis workflow with automated pre-computing of the slide image before pathologist assessment and a precise visual overlay highlighting tumor cells with and without nuclear staining.  

On the contrary, high price associated with installation and maintenance of whole slide imaging. 

• Based on type, the South & Central America whole slide imaging market is segmented into hardware, software, and services. The hardware segment held 44.7% market share in 2022, amassing US$ 9.50 million. It is projected to garner US$ 25.71 million by 2028 to expand at 18.0% CAGR during 2022–2028.
• Based on application, the South & Central America whole slide imaging market is categorized into telepathology, cytopathology, immunohistochemistry, and hematopathology. The telepathology segment held 42.6% market share in 2022, amassing US$ 9.07 million. It is projected to garner US$ 24.14 million by 2028 to expand at 17.7% CAGR during 2022–2028.
• Based on end user, the South & Central America whole slide imaging market is segmented into academic research institutes, hospitals, pharmaceutical and biopharmaceutical companies, and laboratories. The academic research institutes segment held 37.4% market share in 2022, amassing US$ 7.98 million. It is projected to garner US$ 21.19 million by 2028 to expand at 17.7% CAGR during 2022–2028
• Based on country, the South & Central America whole slide imaging market has been segmented into Brazil, Argentina, and Rest of MEA.  Our regional analysis states that Brazil captured 44.2% market share in 2022. It was assessed at US$ 9.45 million in 2022 and is likely to hit US$ 25.79 million by 2028, exhibiting a CAGR of 18.2% during the forecast period.  

Key players dominating the South & Central America whole slide imaging market are 3DHISTECH Ltd.; Hamamatsu Photonics K.K.; Indica Labs; Leica Biosystems Nussloch GmbH (Danaher); Nikon Corporation; Olympus Corporation; Visiopharm A/S; Akoya Biosciences, Inc.; and Koninklijke Philips N.V. among others.

• In June 2020, Digital pathology firm Proscia announced it is collaborating with Royal Philips to advance an open ecosystem to accelerate and scale the adoption of digital pathology by laboratories.
• In December 2019, Akoya Biosciences, Inc. announced the full commercial release of new products that together form the most complete solution for high-parameter tissue imaging. These include the CODEX® System, and Phenoptics™ 2.0.  

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