Precision Pathology For Cancer Market Size, Share & Trends Analysis Report By Product (Consumables, Instruments), By Technology (Next-Generation Sequencing, Molecular Diagnostics), By Application, By Region, And Segment Forecasts, 2024 To 2030

Precision pathology for cancer integrates advanced technologies to diagnose and treat cancer based on the unique genetic profile of each patient's tumor. It combines histology, genomics, and bioinformatics to personalize treatment strategies, aiming for improved patient outcomes. The market is driven by increasing prevalence of cancer, which further necessitates enhanced personalized therapies. For instance, according to the American Cancer Society, an estimated 1.9 million new cancer cases were diagnosed in U.S. in 2022. This rising prevalence is fueling the demand for precision pathology services.

Digital pathology, facilitated by AI and machine learning, improves diagnostic accuracy, accelerates diagnosis rates, and supports therapeutic recommendations, thereby driving market growth. For instance, in January 2024, iStar, developed by researchers at the Perelman School of Medicine at the University of Pennsylvania, is an AI tool designed to enhance precision pathology for diagnosis and treatment. It analyzes gene activities in medical images, providing detailed insights into diseases at the tissue and cellular levels. iStar's capabilities include detecting previously unseen tumor cells and identifying critical anti-tumor immune formations, which are indicative of a patient's likelihood of responding favorably to immunotherapy. The tool's rapid analysis speed, demonstrated by completing a breast cancer dataset analysis in just nine minutes, contrasts sharply with competitors, highlighting its potential for large-scale biomedical studies and applications in 3D tissue reconstruction and biobank sample prediction.

Funded by the National Institutes of Health, iStar represents a significant advancement in the field of spatial transcriptomics, aiming to improve diagnostic accuracy and treatment planning in cancer care. Such an instance marks a major advancement in diagnostics and treatment planning. iStar's capability to detect previously unseen tumor cells and identify critical anti-tumor immune formations enhances the precision of cancer diagnosis and treatment, potentially leading to improved patient outcomes contribute to growth during forecast period.

North America dominated the precision pathology for cancer market in 2023 owing to its robust healthcare infrastructure, high adoption of advanced diagnostic technologies, and a significant increase in the incidence of cancer. The region's well-established healthcare systems, coupled with substantial investments in research and development, have positioned North America as a leader in the global precision pathology for cancer market. Additionally, digital pathology and the shift towards personalized medicine, facilitated by AI and machine learning, enhance diagnostic accuracy and support tailored treatment strategies, further driving market growth in region. Moreover, market players in the region are undertaking various initiatives which further contributes to regional dominance. For instance, in March 2022, Proscia and Visiopharm partnered to integrate AI-powered pathology solutions, aiming to enhance clinical decision-making for breast and colon cancer care. This collaboration merges Visiopharm's AI applications with Proscia's Concentriq Dx platform, facilitating seamless integration into routine operations and empowering pathologists with advanced AI tools for biomarker quantification, thus accelerating treatment decisions and improving patient care.

Precision Pathology For Cancer Market Segmentation

Major companies operating in the market include Thermo Fisher Scientific, Invitae Corporation, Illumina, Myriad Genetics, Proscia Inc., and AstraZeneca. These players are focusing on regional expansion and product launches to maintain their presence in the market. For instance, in February 2024, Proscia received FDA 510(k) clearance for its Concentriq AP-Dx, a digital pathology solution aimed at enhancing diagnosis through improved efficiency and accuracy. The clearance follows a successful multi-site clinical study demonstrating non-inferiority to traditional methods, highlighting the potential for Concentriq AP-Dx to significantly impact clinical decision-making and patient care.