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

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% during the forecast period. The AI in pathology market refers to the sector within the healthcare industry that encompasses the development, deployment, and utilization of artificial intelligence (AI) technologies specifically designed for pathology applications. AI models can analysed clinical data, genomic information, and pathology images to predict patient prognosis and disease progression. These models assist in personalized treatment planning, identifying high-risk patients, and optimizing healthcare resource allocation. It involves the use of advanced computational algorithms, machine learning techniques, and computer vision methods to analyse pathology images, extract relevant information, and assist pathologists in diagnostic decision-making. 

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.

North America to witness the highest growth rate and accounted for largest share during the forecast period.”

During the forecast period, the North America market is anticipated to exhibit the highest growth rate. The growth of the market in the North America region can be attributed to several factors. Firstly, there have been substantial investments to modernize pathology infrastructure in the region, which is driving market growth. Additionally, there is an increasing adoption of digital pathology solutions in North America, contributing to the overall market expansion. Moreover, the continuous expansion of the healthcare infrastructure and the growing availability of advanced AI technologies in the market are further boosting the growth in this region. The increasing focus on technology, patient safety, and quality improvement, combined with technological advancements in medical devices and government initiatives, continues to drive the adoption of AI in pathology market in North America.

The break-down of primary participants is as mentioned below:

• By Company Type - Tier 1: 45%, Tier 2: 30%, and Tier 3: 25%
• By Designation - C-level: 42%, Director-level: 31%, and Others: 27%
• By Region - North America: 32%, Asia Pacific: 26%, Europe: 32%, Middle East & Africa: 5%, Latin America: 5%

Key Players in the AI in Pathology Market

The key players functioning in the AI in pathology market include Koninklijke Philips N.V. (Netherlands), F. Hoffmann-La Roche Ltd (Switzerland), Hologic, Inc. (US), Akoya Biosciences, Inc. (US), Aiforia Technologies Plc (Finland), Indica Labs Inc. (US), OptraScan (US), Ibex Medical Analytics Ltd. (Israel), Mindpeak GmbH (Germany), Tribun Health (France), Techcyte, Inc. (US), Deep Bio Inc. (Korea), Lumea Inc. (US), Visiopharm (Denmark), aetherAI (Taiwan), Aiosyn (Netherlands), Paige AI, Inc. (US), Proscia Inc. (US), PathAI, Inc. (US), Tempus Labs, Inc. (US), Konfoong Biotech International Co., Ltd. (China), DoMore Diagnostics AS (Norway), Verily Life Sciences, LLC (US), deepPath (US), and 4D Path Inc (US).

Research Coverage:

The report analyses the AI in pathology market. It aims to estimate the market size and future growth potential of various market segments based on components, neural network, application, end-user, and region. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, recent developments, and key market strategies.

Reasons to Buy the Report 

This report will enrich established firms and new entrants/smaller firms to gauge the market's pulse, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.

This report provides insights on:

• Analysis of key drivers: (Increasing adoption of AI in pathology to enhance lab efficiency, growing digitization of pathology, augmenting telepathology with AI advancements, rise in cases of misdiagnoses, and technology advancements in deep learning enabling synergy with artificial intelligence (AI) in pathology space), restraints (high cost of digital pathology systems, lack of skilled AI workforce and ambiguous regulatory guidelines for medical software), opportunities (growing demand of personalized medicines, shortage of skilled pathologists), and challenges (lack of sufficient data to train the AI algorithms, data privacy concerns, lack of transparency and interoperability) influencing the growth of the AI in pathology market. 
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the AI in pathology market.
• Market Development: Comprehensive information on the lucrative emerging markets, component, neural network, applications, end-user, and region.
• Market Diversification: Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the AI in pathology market. 
• Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of the leading players in the AI in pathology market like Koninklijke Philips N.V. (Netherlands), F. Hoffmann-La Roche Ltd (Switzerland), Hologic, Inc. (US).