Digital Pathology Market to Jump from USD 732.1 Million to USD 1516.1 Million by 2028
The Global Digital Pathology Market is expected to grow from USD 732.1 Million in 2021 to USD 1516.1 Million by 2028 at a Compound Annual Growth Rate (CAGR) of 12.9%, within the forecast period of 2022-2028. Digital Pathology is a sub-field of pathology that focuses on data management based on information generated from digitized specimen slides. Through the use of computer-based technology, digital pathology utilizes virtual microscopy.
The COVID-19 Pandemic has made a drastic change in the Digital Pathology Market and created major growth opportunities for Digital Pathology. This growth is mainly driven by an increased focus on pathological testing as well as improved workflow efficiency. The increased geriatric population has also boosted Digital Pathology Market. There is a higher demand for faster diagnostic tools for chronic diseases to detect and treat the cause at an efficient rate. On the other hand, strict government regulations and high implementation costs involved are factors restraining the growth of Global Digital Pathology. Rapid technological advancements such as digital imaging, computerization, robotic light microscopy, multiple fiber-optic communication, and whole slide imaging are presenting greater opportunities to grow the Digital Pathology Market. The introduction of artificial intelligence to the market is also posing multiple opportunities.
The Digital Pathology Market can be segmented into the scanner, software, and storage system. Major players are constantly introducing technological developments for digital pathology scanners. This growth can be credited to the rising prevalence of chronic diseases. This is also anticipated to boost the growth of the diagnosis component of the application segment. Apart from disease diagnosis, the applications include drug discovery, training, and education. Digital technologies help in improving each step of diagnosis. On the basis of end-user, the Digital Pathology Market is segmented into pharmaceuticals and biotechnology companies, hospitals/clinics and reference laboratories, and academic and research institutes. The pharmaceutical and biotechnology companies dominated the segment in 2021, and this trend is expected to continue during the forecast period. However, the clinical segment is expected to witness considerable growth during the forecast period, owing to an increase in cardiovascular diseases, and a surge in usage of Digital Pathology systems to determine the efficacy of treatment.
On the basis of regional analysis, the Digital Pathology Market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America region was seen to be leading the global market with 41.3% share. This is due to the rising incidence of chronic diseases in the region along with the shift towards preferring preventative majors overall.
The key players for this market are Leica Biosystems (US), Koninklijke Philips N.V. (Netherlands), Hamamatsu Photonics (Japan), F. Hoffmann-La Roche Ltd. (Switzerland), 3DHISTECH (Hungary), Apollo Enterprise Imaging (US), XIFIN Inc. (US), Huron Digital Pathology (Canada), Visiopharm A/S (Denmark), Aiforia Technologies Oy (Finland), Akoya Biosciences (US), Corista (US), Indica Labs (US), Objective Pathology Services (Canada), Sectra AB (Sweden), OptraSCAN (US), Glencoe Software (US), Konfoong biotech international co. ltd. (China), Inspirata Inc. (US), PathAI (US), Proscia Inc. (US), Kanteron Systems (Spain), Mikroscan Technologies (US), Motic (US), Paige (US).
Browse the full Report - Digital Pathology Market Size, Share & Trends Analysis Report by Product (Scanners, Software, Storage Systems), by Type (Human Pathology, Veterinary Pathology), by Application (Drug Discovery, Disease Diagnosis, Training & Education), by End User (Pharmaceutical & Biotechnology Companies, Hospitals and Reference Laboratories , Academic & Research Institutes), by Region (North America, Asia Pacific, Europe, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)