Introduction:
Market Insights
The TechSci Research report titled “Global Digital Pathology Market – Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028” reveals that the Global Digital Pathology Market reached a valuation of USD 850.08 million in 2022, and it is projected to achieve a commendable CAGR of 9.8% during the forecast period spanning from 2024 to 2028.
Driving Force: Technological Advancements and Growing Prevalence
A major impetus behind the robust growth of the global digital pathology market is the surging prevalence of innovative and rapid technological advancements in digital pathology systems. This factor notably contributes to the expansive strides of the digital pathology market across the projected timeline. In addition, the increasing occurrence of cancer cases emerges as a pivotal factor fueling the market’s ascent. Furthermore, the rising tide of chronic and cardiovascular diseases plays an augmentative role in propelling the digital pathology market. The incorporation of Artificial Intelligence (AI) has emerged as an effective tool for identifying and evaluating pathological attributes, outperforming conventional techniques. This integration of AI has invigorated the diagnostic process, elevating the efficiency and cost-effectiveness of drug discovery. These advancements collectively propel the digital pathology market forward.
Browse over 26 market data Figures spread through 91 Pages and an in-depth TOC on “Global Digital Pathology Market.” – https://www.techsciresearch.com/report/global-digital-pathology-market/1615.html
Revolutionizing Medical Fields
Digital pathology exerts a pivotal influence on companion diagnostics and drug development pipelines, encompassing vital domains like molecular biology, molecular tissue profiling, bio banking, and tissue microarray analysis. The escalating demand for top-notch tissue samples to facilitate tissue-based biomarker research is poised to drive the adoption of digital pathology across the market’s timeline.
Multi-Faceted Drivers of Growth
Numerous factors converge to fuel the digital pathology market’s trajectory. These include the expanding realm of teleconsultations, the uptake of digital pathology to optimize laboratory efficiency, and its burgeoning roles in drug discovery and companion diagnostics. Integrating digital pathology with digital tools such as barcoding, specimen tracking, and digital dictation further catalyzes its use in disease diagnosis, bolstering safety, quality, and efficiency in pathology laboratories. The World Health Organization’s projection that digital pathology will enhance routine pathology practices by 2022 due to its ease of use and remote operability solidifies its potential. The integration of artificial intelligence (AI)-based assistance systems for swift and secure judgments in radiology and pathology practices amplifies these advancements.
Government Initiatives and Industry Collaborations
The digital pathology market is also set to benefit from the mounting adoption of telepathology, increased healthcare investment in developed nations, the expansion of key manufacturers into developing regions, and a heightened focus on drug discovery. Notably, partnerships like GlaxoSmithKline’s collaboration with Path AI in integrating digital pathology Artificial Intelligence into cancer and Non-alcoholic steatohepatitis (NASH) drug development showcase the industry’s potential. Government initiatives, such as the 2022 EU4Health work program, earmarked for digital investment, and the establishment of the European health data space, are set to reinforce digital pathology’s growth trajectory.
Rising Disease Burden and Integration of Digital Pathology
A mounting global burden of chronic and infectious diseases, spanning conditions like cardiovascular, cancer, diabetes, influenza, orthopedic, and neurology disorders, drives the demand for innovative diagnostic technologies. For instance, the British Heart Foundation reported that the United Kingdom had approximately 7.6 million individuals affected by cardiovascular disorders in 2022. Consequently, digital pathology’s demand increases as innovative diagnostic technologies gain prominence in disease management.
Digital Pathology for Disease Diagnosis
The integration of digital pathology with tools such as barcoding, specimen tracking, and digital dictation elevates the quality and efficiency of disease diagnosis in pathology laboratories. Enabling instant sharing of whole slides among pathologists for collaborative input, digital pathology strengthens disease diagnosis. Illustratively, Roche’s introduction of automated digital pathology algorithms with AI for breast cancer diagnosis showcases the potential for rapid and accurate diagnoses, facilitating tailored treatment strategies.
Projection and Conclusion
With the amalgamation of rising disease burdens and the integration of digital pathology, the disease diagnosis segment is expected to witness substantial growth in the forecast period. The adoption of digital technologies in disease diagnosis improves efficiency and therapeutic interventions. For example, AI-powered digital pathology technology for early diagnosis of Parkinson’s disease highlights the technology’s capabilities.
North America: A Powerhouse of Growth
Within regions, the North American digital pathology market is anticipated to flourish during the forecast period. Driven by factors like the mounting burden of chronic diseases, the integration of technology in disease management, investments, product launches, and industry players’ initiatives, North America, especially the United States, is poised for significant growth. Increasing cases of chronic diseases such as cancer and Alzheimer’s disease contribute to the demand for digital diagnostics. The substantial prevalence of conditions like lung cancer, kidney cancer, and diabetes in North America drives market growth.
Market Segmentation: Unveiling Market Dynamics
The Global Digital Pathology Market is segmented into product type, application, end user, regional distribution, and company.
- Application: Disease Diagnosis’s Ascending Trajectory
- Disease Diagnosis Segment: Anticipated rapid growth, driven by rising chronic illnesses and manufacturers’ dedication to swift and advanced diagnostics.
- Regional Distribution: North America’s Leading Position
- North America Segment: Expected growth during the forecast period, fueled by factors such as the rising burden of chronic diseases, technological integration, investments, and initiatives by market players.
Illuminating Diagnostic Frontiers
The global digital pathology market’s trajectory is illuminated by factors such as technological advancements, rising disease burdens, and innovative integrations. With the integration of AI and its application in disease diagnosis, the market is poised to witness remarkable expansion in the coming years. North America’s proactive stance and the industry’s collaborations further strengthen the market’s growth potential.
Major companies operating in Global Digital Pathology Market are:
- 3DHISTECH
- Corista
- Aiforia Technologies Oy
- Akoya Biosciences
- OptraSCAN
- Glencoe Software
- QProscia Inc
- Kanteron Systems
- Mikroscan Technologies
- OptraSCAN
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“Digital pathology offers an enhanced viewing experience, thereby improving analysis and reducing diagnostic error rates. These tools also provide service providers with immediate access to previous cases for comparison, facilitating long-term predictive analysis through data storage. Barcoding specimens minimizes the risk of misidentification and eliminates concerns about lost data due to slide breakage. The market growth of digital pathology systems is expected to be driven by increasing technological advancements. For example, according to an article published in the Visceral Medicine Journal in 2021, digital pathology has witnessed technological advancements in artificial intelligence and label-free imaging. The utilization of artificial intelligence in digital pathology is growing in tandem with the development of slide scanners, the abundance of data generated, and the ever-increasing computing power. The growth of the global digital pathology market is primarily driven by the increasing prevalence of cancer, the growing demand for accurate diagnostics, and the development of new digital pathology systems by numerous key players. According to a report published by Medscape, chronic diseases are associated with higher mortality rates. The underlying reason for the advancement of advanced diagnostic solutions is the rising prevalence of cardiovascular disorders. Consequently, as the incidence of chronic and cardiovascular diseases continues to rise, the demand for digital pathology systems is expected to increase, thereby driving the growth of the digital pathology market.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Global Digital Pathology Market By Product Type (Scanners, Software, and Storage & Communication Systems), By Application (Disease Diagnosis, Teleconsultation, Drug Discovery, Training & Education), By End User (Pharmaceutical & Biotechnology Companies, Hospitals and Clinics, Academics Institutes & Research Laboratories), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Digital Pathology Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Digital Pathology Market.
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TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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