South & Central America Whole Slide Imaging Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Type, Application, and End User

The whole slide imaging market in South & Central America is expected to grow from US$ 21.36 million in 2022 to US$ 56.11 million by 2028. It is estimated to grow at a CAGR of 17.5% from 2022 to 2028.

Elevating Technological Advancements in Whole Slide Imaging
The concept of whole slide imaging emerged in the late 1990s. In initial phase, the system utilized microscope and computer combination to capture composite slide image. However, the system required considerable amount of time for image acquisition. In order to overcome this limitation, technology companies used automated algorithms and high-speed systems to boost the speed of image acquisition. This technological development extends the area of application for whole slide imaging. The new guidelines will ensure patients get their pathologic diagnosis quickly with the same quality test results and thereby possibly receive treatment sooner.
Continual advancements in computational algorithms and image capturing technologies are making a constructive impact on the development of whole slide imaging technologies. Improvements in this technology are leading to a better throughput, error reduction, quick and efficient image capturing, image archiving, and image sharing. For instance, in March 2019, NanoString announced launch of GeoMx Digital Spatial Profiler, a next generation whole slide imaging technology for detailed spatial profiling of nucleic acid molecules. This clearance enables Dynamyx customers to use whole slide images (WSIs) for primary diagnosis instead of traditional glass slides, yielding powerful benefits to pathologists and laboratories. Furthermore, in October 2019, Olympus Corporation announced launch of its SLIDEVIEW VS200, an advanced slide scanner for high-resolution image acquisition. The equipment is capable of high-speed data acquisition and image processing of tissue samples as well as single cell. Such technological developments are estimated to drive the adoption of whole slide imaging systems, which would eventually boost the market growth during the forecast period.

Market Overview

South & Central America region include country level analysis of Brazil, Argentina and Rest of SCAM. In 2021, Brazil is expected to have the major market share in this region. Also, it is projected to grow with highest growth rate. Brazil is the largest revenue generating country for Whole Slide Imaging in South & Central America. Moreover, Brazil is one of the fastest growing emerging economies in the world. Cancer is one of the primary epidemic diseases, and the number of people with cancer has become over double the number in the past three decades. According to data of an article, Revista Brasileira de Cancerologia 2018, during 2018-2019, there would be approximately 600,000 new cases of cancer. The digital pathology solution has improved the level of care in Latin America and has proved to be a valuable tool in providing access to timely, quality interpretations. Factors such as technological advancement in medical imaging, rising incidence and prevalence rate of chronic diseases are driving the growth of this market. Moreover, Brazil’s Ministry of Health is investing in a project to digitalize and integrate systems in the national, state and municipal spheres of care for public health system

South & Central America Whole Slide Imaging Market Segmentation

The South & Central America whole slide imaging market is segmented into type, application, end user, and country. - Based on type, the market is segmented into hardware, software, and services. The hardware segment registered the largest market share in 2022. Based on application, the market is segmented into telepathology, cytopathology, immunohistochemistry, and hematopathology. The telepathology segment held a larger market share in 2022. Based on end user, the market is segmented into academic research institutes, hospitals, pharmaceutical and biopharmaceutical companies, and laboratories. The academic research institutes segment held the largest market share in 2022. Based on country, the market is segmented into Brazil, Argentina and Rest of MEA. Brazil dominated the market share in 2022. 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. are the leading companies operating in the whole slide imaging market in the region.