South & Central America Digital Pathology Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product (Scanners, Software, Storage, and Communication Systems), Type (Human Pathology and Veterinary Pathology), Application (Drug Discovery, Disease Diagnostics, Teleconsultation, and Training & Education), and End User (Pharma and Biotech Companies, Hospitals, and Academics)
The digital pathology market in South & Central America is expected to grow from US$ 64.74 million in 2022 to US$ 124.38 million by 2028. It is estimated to grow at a CAGR of 11.5% from 2022 to 2028.
Rising Use of Digital Pathology for Cancer Diagnosis Drives Digital Pathology Market in South & Central America
The use of digital pathology allows the in-depth diagnosis of tumors. Traditional pathology services can only help understand the location of tumor cells; this makes it difficult to share the cases for a second review. Digital cancer diagnosis typically involves scanning conventional glass slides to get successive images that are digitally united into a single, whole image that replicates the information on the glass slide. The pictures are combined together from associated clinical/hospitals or labs to provide an integrated picture of each unique cancer condition to the pathologists. Companies are launching new digital pathology tools and technologies for cancer detection. For instance, in January 2021, Roche launched the CE-IVD automated digital pathology algorithms that are capable of uPath HER2 Dual ISH image analysis and uPath HER2 (4B5) image analysis for breast cancer diagnosis, which also helps healthcare providers determine the best treatment strategy for each patient. Artificial intelligence (AI) is used in image analysis algorithms to assist pathologists in achieving quick and accurate patient diagnoses. Further, in May 2022, Hartford HealthCare launched a clinical research and innovation platform in collaboration with Ibex Medical Analytics, a pioneer in AI-powered cancer diagnostics, to help clinicians deliver accurate diagnoses and enhanced care for patients suffering from breast cancer. In March 2022, Paige launched Paige Breast Lymph Node, a new AI software tool that helps pathologists in the detection of breast cancer that has metastasized to lymph nodes, concurrent with pathologists’ interpretive review. It is designed to improve diagnostic accuracy for the most subtle metastatic foci and has over 98% slide level sensitivity for the detection of metastases of any size. In the same month, Verily partnered with Lumea to combine its AI algorithms with Lumea’s comprehensive end-to-end digital pathology platform for developing products to diagnose and prognose prostate cancer, and provide guidance for selecting appropriate therapy for the same with improved efficiency and objectivity. Thus, with technological developments in cancer diagnostics, the use of digital solutions in the diagnosis of this disease is increasing, thereby fueling the digital pathology market growth.
Market Overview
The digital pathology market in South & Central America is bifurcated into Brazil and the rest of South & Central America. The market in Brazil is anticipated to grow with the highest rate during the forecast period owing to the increasing cancer cases in the country. In the last few years, cancer cases have increased in Brazil. Cancer is one of the major causes for mortality in the country. According to the Brazilian National Cancer Institute (INCA), it is estimated that Brazil will have around 600,000 new cases of cancer during 2018–2019. This rising cancer prevalence has translated into a 60% growth. According to Globocan, in 2020, the number of new cancer cases in Brazil was 592,212. Prostate cancer is the most common cancer in the country. There were 97,278 (16.4%) cases of Prostate cancer in Brazil in 2020. Similarly, 88,492 (14.9%) number of new cases of breast cancer, 55,102 (9.3%) cases of colorectum cancer, 40,409 (6.8%) cases of lung cancer, 30,607 (5.2%) cases of thyroid cancer, and 280,324 (47.3) cases of other cancers were recorded in Brazil. The rising incidence of cancer, together with the growing awareness about the benefits of medical imaging for cancer treatment in Brazil. Digital pathology solution is a major diagnostic tool for cancer patients. It enhances cancer diagnosis. Thus, increase in cancer cases will surge the deployment and integration of digital pathology solutions. Also, the rising prevalence of cancer in Brazil is expected to boost the development of novel products during the forecast years. Thus, the increasing cancer cases in Brazil bolster the digital pathology market growth in South & Central America.
South & Central America Digital Pathology Market Revenue and Forecast to 2028 (US$ Million)
South & Central America Digital Pathology Market Segmentation
The South & Central America digital pathology Market is segmented into product , type , application and end user.
Based on product, the market is segmented into scanners, software, storage and communication systems. The scanners segment registered the largest market share in 2022. Based on type, the market is segmented into human pathology, and veterinary pathology. The human pathology segment held the larger market share in 2022. Based on application, the market is segmented into drug discovery, disease diagnostics, teleconsultation, and training & education. The drug discovery segment held the larger market share in 2022. Based on end user, the market is segmented into pharma and biotech companies, hospital, and academic. The pharma and biotech companies segment held the largest market share in 2022. Based on country, the market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the market share in 2022. Koninklijke Philips N.V.; Nikon Corporation; PerkinElmer, Inc.; 3DHISTECH Ltd.; Hamamatsu Photonics K.K.; F.Hoffmann-La Roche Ltd; Visiopharm A/S; Glencoe Software, Inc.; and Danaher Corporation; are the leading companies operating in the digital pathology in the region.
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