The digital pathology market is growing rapidly, with experts predicting it will reach $3.86 billion by 2032. This growth is driven by the technology’s ability to speed up and improve the accuracy of disease diagnosis. Digital pathology uses machines to handle tasks like preparing tissue slides and analyzing them for signs of disease.
This saves time for pathologists and allows remote areas to access pathology services. When combined with artificial intelligence, digital pathology can also discover new disease biomarkers and develop treatments. This makes it a key part of precision medicine.
Investors and pharmaceutical companies are taking notice of digital pathology’s potential. They are investing in startups that specialize in this field. Five key startups are leading the way in digital pathology.
Clarapath, based in New York, is building a “lab of the future” that uses automation and AI to streamline pathology workflows.
Key startups in digital pathology
The company has raised over $60 million in funding.
Israel-based Ibex Medical Analytics uses AI to help pathologists detect and grade cancers more efficiently. Ibex’s tools are trained on millions of tissue slides and have received regulatory approval in Europe. Paige, another New York startup, raised $100 million to speed up diagnostic decision-making.
Paige’s AI tool for prostate cancer was the first to receive FDA approval. Boston-based PathAI offers tools for tasks like managing caseloads and enrolling patients in clinical trials. The company has raised over $200 million and recently partnered with Quest Diagnostics.
Finally, Proscia from Philadelphia aims to make digital pathology more accessible with its Concentriq platform. Proscia has raised $46 million and its tools recently gained FDA clearance for primary diagnosis. These startups are driving innovation in healthcare and paving the way for faster, more precise medical diagnoses and treatments.
As the digital pathology market continues to grow, their impact is set to be significant.
