AI in Pathology Market

The report "Al in Pathology Market by Neural Network (GAN, CNN, RNN), Function (Diagnostic, Image Analysis, CDSS, Data Management, Analytics), Use Case (Drug Discovery, Clinical workflow), End User (Hospital, Labs, Pharma/Biotech), & Region - Global Forecast to 2029", is projected to reach USD 169.8 million by 2029, up from USD 82.8 million in 2024, at a high CAGR of 15.4 % during the forecast period.

Browse 250 market data Tables and 50 Figures spread through 300 Pages and in-depth TOC on "Al in Pathology Market by Neural Network (GAN, CNN, RNN), Function (Diagnostic, Image Analysis, CDSS, Data Management, Analytics), Use Case (Drug Discovery, Clinical workflow), End User (Hospital, Labs, Pharma/Biotech), & Region - Global Forecast to 2029"
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Factors such as the advancements in computational pathology, the shift toward predictive and prognostic analysis, and the growing adoption of whole slide imaging analysis (WSI in digital pathology are accelerating the market growth. Moreover, improvements in computational pathology, rising use of cloud-based AI pathology platforms, and increased adoption of multi-omics platforms are other factors propelling the market growth.

“By use case, the drug discovery segment accounted for the largest share of the AI in pathology market in 2023”

By use case, Al in pathology has been split into the following segments: drug discovery, disease diagnosis and prognosis, clinical workflow, and training & education. Drug discovery accounted for the largest share in Al in pathology market in 2023. This may be on account of several factors, including the rising requirement for precision medicine and targeted therapies, improved Al and machine learning algorithms, and increased availability of vast pathology datasets, which improves the accuracy and efficiency of drug discovery processes. The development advantages of drugs like relatively shorter timelines, low cost, and much better success rates in identifying viable drug candidates make the usage of Al in pathology for drug discovery highly in demand.

“By function, predictive analytics is projected to register the fastest growth over the forecast period”

Predictive analytics is expected to witness the highest growth in the AI in pathology market. Growth prospects in this segment are primarily driven by the increased interest in AI-powered tool sets that can help extend beyond basic diagnostic functions into more predictive insights into patient outcomes. Predictive analytics through machine learning algorithms empower pathologists to make forward predictions about the progression of disease, treatment response, and even potential recurrence and have a huge relevance in personalized medicine.

Predictive analytics is witnessing increasing adoption in pathology, more so in oncology, where a clear projection on the behavior of tumors or the survival of patients would have a massive contribution to the decisions people make about treatment. The other significant driver for the growth of this segment is the adoption of AI-based prognostic tools in pathology laboratories. Such tools are increasingly applied in the prediction of outcomes in different disease areas including cancer, cardiovascular diseases, and neurodegenerative diseases. Going forward, with the shifting healthcare industry toward value-based care, predictive insights will play an even greater role. Healthcare systems are investing increasingly in predictive analytics to reduce costs, improve patient outcomes, and streamline operations. As a result, the rate of growth in this segment of the AI in pathology market is quite spectacular.

“Europe led with the second-largest share of the Al in pathology market in 2023”

The second largest share of the Al in pathology market can be attributed mainly to some factors such as a well-established digital health support structure from the government, increased funding for Al-driven research, and a well-set-up healthcare infrastructure. It is driven by the region's focus on improving diagnostic accuracy and efficiency and the presence of some leading Al firms and research institutions. In addition, the growing burden of chronic diseases and cancer in Europe will be accompanied by a greater investment into more complex diagnostic tools, fuelling growth in Al in pathology around the region.

The report profiles key players such as Koninklijke Philips N.V. (Netherlands), F. www 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) are the major players in this market. These companies are focusing on strategies such as product launches, expansions, agreements, partnerships, collaborations, product approvals, investments, and acquisitions to remain competitive and further increase their share in the market.

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