Global Digital Pathology Market Size By Product (Scanners, Software, Communication Systems), By Application (Disease Diagnosis, Teleconsultation), By End-User (Pharmaceutical And Biotechnology Companies, Hospitals And Reference Laboratories), By Geographic Scope And Forecast
Published on: 2024-08-02 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
Global Digital Pathology Market Size By Product (Scanners, Software, Communication Systems), By Application (Disease Diagnosis, Teleconsultation), By End-User (Pharmaceutical And Biotechnology Companies, Hospitals And Reference Laboratories), By Geographic Scope And Forecast
Digital Pathology Market Size And Forecast
Digital Pathology Market size was valued at USD 628.54 Million in 2021 and is projected to reach USD 1719.31 Million by 2030, growing at a CAGR of 13.64% from 2022 to 2030.
The increasing demand for personalized medicine along with high growth opportunities in emerging countries will create various revenue streams for the Digital Pathology Market and it will grow at a rapid pace. The Global Digital Pathology Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Digital Pathology Market Definition
Digital pathology is a division of pathology that focuses on data management based on the information generated from digitized specimen slides. Digital pathology makes use of computer-based technology to undertake virtual microscopy. Despite the fact that the foundational trying to view capabilities have not changed significantly, digital pathology has resulted in significant advancements in pathology lab efficiency, workflow, and income. Digital pathology means allowing users to turn glass slides into digital slides that can be managed, shared, viewed, and analyzed on a computer monitor. Automated image analysis tools can also be utilized to aid in the explanation and quantification of biomarker expression within tissue samples.
Primary diagnosis, diagnosing consultation, intraoperative diagnosis, medical student and resident training, manual and semi-quantitative immunocytochemistry (IHC) review, clinical research, diagnostic decision support, peer assessment, and tumor boards are all instances of healthcare applications of digital pathology. Some of the Life Science applications involve high-throughput scanning of glass slides, quantitative analysis of entire slide images, real-time web-based consultations with expert pathologists, and safe data retention. With special support for education, tissue-based research, drug development, and the profession of human pathology all around the world, digital pathology is rapidly gaining traction as a proven and significant technology.
Global Digital Pathology Market Overview
The increasing adoption of digital pathology to improve lab efficiency is going to drive the growth of the Global Digital Pathology Market. The growing prevalence of cancer is expected to drive demand for digital pathology, and as a result, the market will grow at a rapid pace. According to the WHO, cancer causes about one in every six deaths worldwide. Lung, prostate, colorectal, stomach, and liver cancer are the most common cancer in men, while breast, colorectal, lung, cervical, and thyroid cancer are the most prevalent in women. Cancer prevalence continues to rise worldwide, putting extreme physical, emotional, and financial strain on individuals, families, governments, and healthcare systems.
Digital Pathology holds well for the treatment of a broad range of diseases. A significant component of this research is digital pathology. Moreover, growing utilization in drug development and companion diagnostics, as well as rapidly increasing healthcare spending in developing economies, are supporting the growth of the Digital Pathology Market. In 2018, Taiwan, for instance, spent approximately 6.6% of its GDP on healthcare. Accordingly, other Asian economies such as Japan, South Korea, and Singapore have spent 10.9%, 8.1%, and 2.5% of GDP on healthcare, respectively. Furthermore, industry players are undergoing a variety of initiatives, as an outcome of which the Global Digital Pathology Market is rapidly expanding.
However, some difficulties are limiting the Global Digital Pathology Market’s growth. The high cost of digital pathology systems may restrict the Global Digital Pathology Market’s growth. Furthermore, the scarcity of trained professionals will pose multiple difficulties to the market’s growth over the forecast period. Nonetheless, the introduction of low-cost scanners is anticipated to provide lucrative opportunities for the expansion of the Digital Pathology Market
Global Digital Pathology MarketSegmentation Analysis
The Global Digital Pathology Market is Segmented on the basis of Product, Application, End-User, and Geography.
Digital Pathology Market, By Product
- Scanners
- Software
- Communication Systems
- Storage Systems
Based on Product, the market is bifurcated into Scanners, Software, Communication Systems, and Storage Systems. The scanners segment dominated the Global Digital Pathology Market owing to the increasing adoption of digital pathology solutions across the globe. Moreover, the high incidence and prevalence of cancer and other chronic diseases are expected to escalate the growth of the Digital Pathology Market.
Digital Pathology Market, By Application
- Disease Diagnosis
- Teleconsultation
- Drug Discovery
- Training and Education
Based on Application, the market is bifurcated into Disease Diagnosis, Teleconsultation, Drug Discovery, and Training and Education. The drug discovery segment dominated the Global Digital Pathology Market owing to the rising need for numerous preclinical and clinical studies performed during the drug discovery and development process.
Digital Pathology Market, By End-User
- Pharmaceutical & Biotechnology Companies
- Hospitals and Reference Laboratories
- Academic & Research Institutes
Based on End-User, the market is bifurcated into Pharmaceutical & Biotechnology Companies, Hospitals and Reference Laboratories, and Academic & Research Institutes. The pharmaceutical and biotechnological companies contributed majorly to the growth of the Global Digital Pathology Market. The dominance of the said end-user segment is credited to the rising use of digital pathology for drug discovery studies.
Digital Pathology Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
On the basis of Geography, the Global Digital Pathology Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The North America region holds the largest share of the Digital Pathology Market. The region’s market growth is expected to be fuelled by the early adoption of Digital Pathology and the emergence of several vendors that offer Digital Pathology. Increasing demand for quality diagnostics and the rising prevalence of cancer are the factors that are further propelling the growth of the North America Digital Pathology Market.
Key Players
The “Global Digital Pathology Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are 3DHISTECH, Hamamatsu Photonics, Leica Biosystems, Koninklijke Philips, Apollo Enterprise Imaging, XIFIN, Ventana Medical Systems, Visiopharm, Corista, and Huron Digital Pathology. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
Partnerships, Collaborations, and Agreements
- In May 2021, Leica Biosystems which is a leading medical devices company announced a collaboration with the European Society for Digital and Integrative Pathology (ESDIP). The aim of this collaboration is to support the pathology Labs in order to develop the laboratories in accordance with the new digital pathology devices.
Mergers and Acquisitions
- In July 2020, PathXL which is a leading digital pathology image analysis company that was acquired by Koninklijke Philips N.V. in 2016 has now been sold to cirdan which is a leading medical technology company. The PathXL has a wide range of digital pathology software applications that are mainly used for research and education purposes. Also, it is leading to the growth in the pathology market which includes bio-pharma.
- In March 2021, F. Hoffmann-La Roche AG, commonly known as Roche which is a Swiss healthcare company signed a definitive merger agreement with GenMark Diagnostics Inc. which is a leading molecular diagnostics company. This merger will expand the company’s portfolio and distribution channel for consumers in Europe.
- In October 2020, Pathognomics Limited which is a leading provider of digital pathology and clinical diagnostic laboratory services has been acquired by Cyted Ltd which is a leading developer and provider of AL-based technology and digital diagnostic infrastructure. This acquisition will provide the company accredited laboratory environment and digital pathology technology.
Product Launches and Product Expansions
- In January 2021, F. Hoffmann-La Roche AG, commonly known as Roche launched uPath HER2 (4B5) image analysis and uPath HER2 Dual ISH image analysis algorithms for precision patient diagnosis in breast cancer. The image analysis algorithms use artificial intelligence to support pathologists in making fast and accurate patient diagnoses of breast cancer.
- In August 2020, Leica Biosystems, a global leader in pathology workflow solutions, launched Aperio GT 450 DX digital pathology scanner in the European market. Aperio GT 450 DX delivers the technology that provides immediate benefits in primary diagnoses such as improved throughput, reduced turnaround times, and high-quality images.
Report Scope
REPORT ATTRIBUTES | DETAILS |
---|---|
Study Period | 2018-2030 |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Period | 2018-2020 |
Unit | Value (USD Million) |
Key Companies Profiled | 3DHISTECH, Hamamatsu Photonics, Leica Biosystems, Koninklijke Philips, Apollo Enterprise Imaging, XIFIN, Ventana Medical Systems, Visiopharm, Corista, and Huron Digital Pathology. |
Segments Covered | By Product, By Application, By End-User, And By Geography |
Customization Scope | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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