Based on current analysis, the Global Digital Pathology Market was valued at USD 519.71 million in 2019 and is expected to reach USD 1.32 billion by 2027, at a CAGR of 12.2%. Digital pathology is an innovation predominantly committed to improving operational efficiency, minimizing laboratory expenses, enhancing productivity, and improving treatment decisions and patient care.
The interpretation of pathology information generated from a digitized glass slide is known as digital pathology. Virtual microscopy is a part of digital pathology which enables the practice of converting glass slides into digital slides that can be viewed, managed, shared, and analyzed on a computer monitor. Digital pathology is presently considered as one of the most promising areas of diagnostic medicine in order to achieve accurate, feasible & faster diagnosis, prognosis & prediction of cancer and other critical diseases.
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Companies profiled for this market study
Leica Biosystems, Ventana Medical Systems, Hamamatsu Photonics, 3DHISTECH, Philips, Apollo Enterprise Imaging, XIFIN, Visiopharm, Corista, Huron Digital Pathology, Objective Pathology Services, and Indica Labs
Market drivers for the digital pathology market are growing applications of digital pathology, ease of consultation, increasing implementation of digital pathology to boost lab efficiency, rising prevalence of cancer, and increasing interventions by governments and initiatives by key industry players.
Rigid regulatory requirements, high cost of systems, and sampling errors are some factors that are anticipated to hold back the global digital pathology market during the forecast period. North America is expected to dominate the market during the forecast period owing to technological progressions, R&D investments, and continuous government support.
Key findings from the report
- There were an estimated 15.5 million cancer survivors in the United States. The number of cancer survivors is expected to increase to 20.3 million by 2026. Due to an increase in the chances of survival, it is expected to increase the market revenue of digital pathology
- Biotech and pharma companies are predicted to showcase stable growth during the forecast period. The growth is credited to enlarged use of digital pathology in drug development, oncology clinical trials, and preclinical GLP pathology. Cumulative occurrence of cancer and demand for better treatment options is further fueling the market
- Teleconsultation segment in applications of digital pathology market is estimated to account for the highest share of 45.8% in the market due to accessibility to patients in remote areas with specialist pathological consultation
- Asia-Pacific regional segment of the digital pathology market is expected to register itself as the highest growing segment during the forecast period, at a CAGR of 13.4%; owing it to the qualitative as well as quantitative market potential offered in developing nations such as China & India
- Owing to increasing adoption of digital pathology solution worldwide, the scanners segment is expected to dominate the digital pathology market with growing CAGR of 11.7%
- In 2018, an estimated 1,735,350 new cases of cancer were diagnosed in the United States, and it is anticipated that approximately 609,640 people will die from the disease. Thus, it is likely to prosper the digital pathology market due to a high prevalence of the target disease.
- Roughly 38.4% of men and women are likely to be diagnosed with cancer at some point during their lifetimes. In 2017, it was estimated that around 15,270 children and adolescents ages 0 to 19 were diagnosed with cancer, and 1,790 died of the disease.
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For the purpose of this study, the market is segmented on the basis of product, type, application, end-use, and region:
Product (Revenue in USD Million; 2017–2027)
- Communication Systems
- Slide Management Systems
- storage systems
Type (Revenue in USD Million; 2017–2027)
- Human pathology
- Veterinary pathology
Applications (Revenue in USD Million; 2017–2027)
- Disease Diagnosis
- Drug Discovery and development
- Cancer cell detection
End-Use (Revenue in USD Million; 2017–2027)
- Pathology labs
- Pharmaceutical & Biotechnology Companies
- Academic & Research Institutes
Regional Outlook (Revenue in USD Million; 2017–2027)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/digital-pathology-market
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