Digital Pathology Market to Reach Valuation of USD 1516.1 Million by 2028 - The increasing incidences of cancer, and increasing applications of Digital Pathology are Driving the Market Growth

Vantage Market Research

Apr 12, 2022

In terms of revenue, the Global Digital Pathology Market is probable to reach USD 1516.1 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 12.9% from 2022 to 2028.

The Digital Pathology Market is witnessing growth due to the factors such as growth in the adoption of Digital Pathology to increase lab efficiency, and increasing applications of Digital Pathology in companion diagnostics and drug development. Moreover, the increasing geriatric population and the rapid advancement in technologies in the Digital Pathology systems are the other major factors expected to fuel the growth of the Digital Pathology Market in the coming years.

Key Highlights from the Report

  • The drug discovery sub-segment is anticipated to grow at a substantial CAGR. The drug discovery segment is estimated to acquire the largest market share during the forecast period. The growth of this segment is attributed to growth in research and development expenditure is driving the need for several clinical and pre-clinical studies that are performed during the development process and drug delivery.

  • The human pathology sub-segment holds a substantial market share in 2021. The human pathology segment is projected to acquire the largest share of the Digital Pathology Market during the forecast period. The growth of the human pathology segment is attributed to the growing number of cancer research activities and increasing collaboration between universities, research institutes, and pathology laboratories.

  • Asia Pacific is the fastest regional segment. The growth of Asia Pacific is attributed to increase in the occurrence of chronic diseases and the growth of healthcare infrastructure. The increase in the geriatric population in developing countries such as China, Japan, and India is increasing the demand for the Digital Pathology Market during the forecast period. The increasing requirement for Digital Pathology in the healthcare sector is driving the growth of the Digital Pathology Market during the forecast period.

Market Dynamics:

The increasing geriatric population and the rapid advancement in technologies in the Digital Pathology systems are the other major factors expected to fuel the growth of the Digital Pathology Market in the coming years. Furthermore, the essential source for the development of advanced diagnostic solutions is the rise prevalence of cardiovascular disorders, and thus the need for Digital Pathology systems increased and is driving the growth of the Digital Pathology Market during the forecast period.

The advancement in technologies such as computerization, robotic light microscopy, and multiple fiber optic communications are important key factors projected to increase the adoption of Digital Pathology in the years to come. Additionally, the launch of cloud-based technology allows the storage of digital slides associated with protected access to pathologists which is predicted to contribute to the potential growth of the Digital Pathology Market in the coming years.

North America is the largest market. North America accounted for $732.10 million in 2021. North America is estimated to witness the highest growth during the forecast period. North America is witnessing growth due to the increasing occurrence of cancer, the launch of favorable reimbursement policies, increasing demand for quality diagnostics, and the increasing government initiatives by the government of Canada and the US are the important factors driving the growth of the Digital Pathology Market in North America in coming years.