Digital Pathology Market by Type (Scanners, Software, and Storage & Communication Systems), Application (Teleconsultation, Disease Diagnosis, Drug Discovery, and Training & Education), and End User (Educational, Clinical, and Pharma & Biotech Companies): Global Opportunity Analysis and Industry Forecast, 2021––2030
The global digital pathology market was valued at $735.75 million in 2020, and is expected to reach $1791.30 million by 2030, registering a CAGR of 9.3%, registering a CAGR of 9.3% from 2021 to 2030. Digital pathology is a computer-enabled, image-based information platform that helps for the management of information generated from digital slides.. Digital pathology solution offers scrutiny & analysis of images on a computer, high-resolution sample scanning, and online storage of digital slides, which enable pathologists to cross examine slides without physical evidences.
The affordable cost of digital pathology products, convenience of virtual slide transportation, and high efficiency of digital pathology systems are the major factors that boost the growth of the global digital pathology market. Furthermore, the market is being driven by an increase in usage of digital pathology solutions as compared to conventional pathology diagnosis. In addition, developing technologies in digital pathology systems, such as digital microscopy, are important tools in surgical pathology. Increase in interest among pathologists for diagnostic, educational and research purposes increases the usage of digital pathology systems in drug discovery. These aforementioned factors have fueled the market growth. On the contrary, high cost associated with digital pathology systems restrains the market growth. However, rise in initiatives toward commercialization of cost-efficient digital pathology systems is anticipated to offer profitable growth opportunities for service providers in the future.
According to the data published by Journal of Clinical Medicine, digital pathology is becoming a mainstream option for routine diagnostics. Faster whole slide image scanning is the main way for this development and implementation of new technologies in digital pathology systems. These advantages associated with digital pathology system boost the market growth. In addition, as per the Journal of Pathology, the digital pathology provides greater accuracy and standardization of pathology based trial criteria. The digital pathology platforms improve the training and performance of clinical trial pathologists. Furthermore, increase in number of teleconsultations and rise in adoption of digital pathology systems to enhance lab efficiency drives the growth of the digital pathology market.
According to the International Agency for Research on Cancer (IARC), the updated Globocan data of 2020, around 19.3 million cases of cancer were estimated. According to The World Health Organization (WHO), cancer is a leading cause of death worldwide and approximately 70% of deaths from cancer occur in low & middle income countries. By 2040, the number of new cases of cancer per year is expected to rise to 29.5 million and the number of cancer-related deaths is expected to increase to 16.4 million. Thus, rise in prevalence of cancer is anticipated to drive the growth of digital pathology market.
In addition, technological advancements for development of new products, growth in patient emphasis for early detection of diseases, and rise in global prevalence of targeted diseases along with surge in geriatric population, are factors that are anticipated to drive the growth of the digital pathology market.
On the contrary, high cost of implementation of digital pathology systems &maintenance, compliance with regulatory requirements in developing countries, lack of reimbursement in some countries, and adverse side effects of radiation emitted from digital pathology systems can lead to cancer as well hinder the growth of the market.
Emerging markets and extensive R&D to build effective digital pathology systems, innovation of various systems, and unmet demand for digital pathology systems in the underdeveloped & developing countries are projected to provide substantial growth opportunities for key players in the digital pathology market.
The digital pathology market is segmented on the basis of product, application, end user, and region. On the basis of product, the market is categorized into scanners, software, and storage & communication systems. On the basis of application, it is classified into teleconsultation, disease diagnosis, drug discovery, and training & education. On the basis of end user, the market is fragmented into educational, clinical, and pharma & biotech companies. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and, rest of Asia-Pacific) ,and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Some of the major companies that operate in the global digital pathology market are 3DHISTECH LTD, Danaher Corporation, Glencoe Software Inc., HAMAMTSU Photonics K.K, Indica Labs Inc., Koninklijke Philips N.V, Nikon Corporation, Perkinelmer Inc., Roche, and VisoPharma A/S.
KEY BENEFITS FOR STAKEHOLDERS
This report provides an extensive analysis of the current and emerging market trends and dynamics in the global digital pathology market to identify the prevailing opportunities.
This study presents the competitive landscape of the global market to predict the competitive environment across geographies.
Comprehensive analysis of factors that drive and restrict the market growth is provided.
Region- & country-wise analysis is provided to understand the market trends and dynamics.
KEY MARKET SEGMENTS
By Product Type
Scanners
Software
Storage & Communication Systems
By Application
Teleconsultation
Disease Diagnosis
Drug Discovery
Training & Education
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
KEY MARKET PLAYERS
3DHISTECH Ltd
Danaher Corporation
Glencoe Software Inc.
HAMAMTSU Photonics K.K
Indica Labs Inc.
Koninklijke Philips N.V
Nikon Corporation
Perkinelmer Inc.
Roche
VisoPharma A/S
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