Global Digital Pathology Market– Overview
Digital pathology fuses the procurement, management, sharing and translation of pathology data – including slides and information – in a digital climate. Digital slides are made when glass slides are captured with a scanning gadget, to give a high-goal digital picture that can be seen on a PC screen or cell phone.
Global digital pathology Market size was $736 billion in 2021, and is anticipated to grow to a value of more than $1873 billion by 2030, registering a growing CAGR (Compound annual growth rate) of over 13% from 2022 to 2030.
Global Digital Pathology Market- Key Trends
One of the major driving factors of the global digital pathology market is the rise in generic and rapid technological advancements in digital pathology system. This factor has boosted the market growth over the forecast duration.
Also, the rise in number of cancer cases is another factor that is increasing the market growth. The rise in chronic and cardiovascular diseases acts as another factor boosting the market growth.
The use of Artificial Intelligence (AI) has also proven to be more effective than previous techniques used in identifying and evaluating pathological characteristics. The implementation of AI has helped in accelerating and strengthening diagnosis and also in making the process of drug discovery more successful and cost-efficient. This has boosted the digital pathology market over the forecast year.
It is also seen that digital pathology has played an important role in companion diagnostics and drug development pipelines that includes molecular biology, bio banking, molecular tissue profiling, and tissue microarray analysis. The increase in demand for high-quality tissue samples in tissue-based biomarker research is projected to propel the adoption of digital pathology over the forecast period.
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Segmentation Analysis of Global digital pathology Market
Based on product –
- Software
- Device -Scanners, and Slide Management System
- Storage System
The device section leads the market in 2021 and represented the biggest income share of over 50% in 2021. The device segment incorporates scanner and slide the executives’ frameworks. Expanding reception for academic research activities and upgraded goal are the key development drivers of the section.
Based on application –
- Drug discovery and development
- Academic research
- Disease diagnosis- cancer cell detection
The academic research application segment represented the biggest share of over 45% of the worldwide income in 2021 and is projected to grow further at a consistent CAGR from 2022 to 2030.
Based on end-user –
- Hospitals
- Biotech & Pharma Companies
- Diagnostic Labs
- Academic & Research Institutes
The hospitals segment represented the biggest income share of over 36% in 2021 attributable to the high reception of digital scanning techniques in emergency clinics for quicker analysis and better persistent consistence.
North America is anticipated to hold the largest market share
North America, Europe, Latin America, Asia Pacific, and Middle East and Africa are the major regions constituting the geographical landscape of Global digital pathology Market. North America held the largest share of the digital pathology market in 2020 and is expected to grow further. The rising pervasiveness of chronic diseases, growing interest for quality diagnostics, the presentation of ideal repayment policies, and the execution of positive drives by the legislatures in the US and Canada are main considerations driving the development of the digital pathology market in North America.
Competitive Landscape
The Key players in the Global digital pathology Market are Leica Biosystems, Koninklijke Philips N.V, 3D-Histech Ltd, Apollo Enterprise Imaging, F. Hoffmann-La Roche Ltd, Visiopharm A/S, Hamamatsu Photonics K.K, Corista, Ventana Medical Systems, Inc, and Huron Digital Pathology Inc.
Major development
In April 2021, Leica Biosystems joined forces with Paige to coordinate its digital pathology stage with the last’s AI-empowered research oncology programming. This would stretch out admittance to computational pathology items for translational and clinical in select nations across the North America and Europe locales.
Likewise in April 2021, Philips banded together with Ibex Medical Analytics to consolidate its digital pathology solutions with the latter’s AI-fueled Galen stage, hence improving its contributions. While Oxford University Hospitals Cellular Pathology department finished 100 percent digitization of histology slides with the assistance of Philips.
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Major questions answered in this report
- What is the growth rate of this Market?
- What are the primary growth determinants of this Market?
- Which are the major regions constituting the geographical landscape of this Market?
- Which are the prominent companies operating in this Market?
Key takeaways from the report-
- This Market registers a CAGR of over 13% over 2022-2030.
- The market in North America is projected to witness the highest growth rate during the forecast period (2021–2030).
- the device segment holds the largest market share.
- The rising predominance of cancer disease is the main consideration speeding up the development of this market.
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