Global Digital Pathology Market Size & CAGR (2021 to 2026)
The size of the global digital pathology market is forecasted to be worth USD 898.3 million by 2026, growing at a CAGR of 11.66% from 2021 to 2026, as per the report published by MarketDataForecast.
Impact of COVID-19 on the global digital pathology market:
Digital pathology plays a significant part in COVID-19 instances where healthcare facilities and patients increasingly opt for a digital approach. Pathologists can use digital pathology to maintain social distance. In addition, the use of digital pathology in COVID-19 has grown, especially in rural regions. The use of digital pathology combined with laboratory workflow adaptability is becoming more common in pandemics. Since then, the market for digital pathology has grown in tandem with the emergence of 19 pandemics. In addition, the USFDA has reduced regulations, allowing digital pathology to adapt faster. For example, during the coronavirus pandemic, the FDA is temporarily easing standards for digital pathology equipment to enable doctors to remotely evaluate scanned pictures of slides. Similarly, the Centers for Disease Control and Prevention (CDC) relaxed the Clinical Laboratory Improvement Amendments (CLIA) to enable COVID-19 exemptions that allow pathologists to use digital pathology platforms from home. The digital pathology market in the COVID-19 pandemic is growing as a result of this growing support.
KEY DRIVING FACTORS:
The rising inclination towards telepathology is driving the global digital pathology market growth.
The usage of telepathology has risen worldwide due to digitalization, particularly in rural locations. Pathologists may view slides remotely in real-time via telepathology and offer a quick diagnosis to the surgeon. Teleconferencing allows medical experts in various places to examine pictures and discuss diagnoses at the same time. Furthermore, with the increasing incidence of illnesses, it is essential to diagnose the patient. Telepathology allows data to be quickly communicated to surgeons for speedier diagnosis. As a result, telepathology is being used by a growing number of hospitals, clinics, and patients, fueling the expansion of the digital pathology market.
Technological advancement in digital pathology is likely to boost digital pathology market growth.
The digital pathology sector has recently seen a lot of growth. Digital pathology was fueled by advancements in technology like computerization, digital imaging, numerous fiber-optic connections, and robotic light microscopy. In addition, advances in AI and machine learning are also advancing digital pathology, which uses natural language processing to extract data and combine it with image-based data. As a result, the digital pathology business has a bright future.
Expensive equipment, insecure technology, and lab information systems that aren’t equipped to handle digitalization are all factors that might limit the worldwide digital pathology market’s demand. Furthermore, the government’s strict laws and regulations, including HIPAA and HITECH, are slowing the worldwide digital pathology market’s growth.
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KEY MARKET INSIGHTS:
- Based on type, the human digital pathology segment dominated the digital pathology market—this segment showing growth due to the rising research activities and collaboration between institutes.
- Based on product, the scanners segment dominated with a revenue share of around 52.0% of the overall market in 2020. Hospitals around the world majorly use Image-based data. This results in the growth of the segment.
- Based on application, the academic research segment is estimated to account for a reasonable share and accounted for the largest revenue share of 45.7% in 2020. This technology is in high demand among research centers and academic institutions since it provides speedier and more accurate information to analyze various diseases in greater depth.
- Based on end-users, the hospital segment holds the largest share of 36.2% in 2020 of the global digital pathology market. The use of digital pathology in hospitals has skyrocketed, owing to the benefits of speedier diagnosis and greater patient compliance.
- Geographically, the North American digital pathology market is projected to record the fastest growth, registering a prominent share of over 40.0% in 2020. The regional expansion is fueled by well-established healthcare facilities, a big patient pool, and a technology-driven strategy.
- The prominent players in the digital pathology market include Danaher, Koninklijke Philips N.V., F. Hoffmann-La Roche Ltd., 3DHISTECH Ltd., Visiopharm A/S, and others. The leading players in the market studied enjoy a dominant presence worldwide. These payers are working on product launches, partnerships, and acquisitions to gain market share.
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- Human Digital Pathology
- Animal Digital Pathology
- Communication Systems
- Storage Systems
- Diseases Diagnosis
- Drug Discovery
By End User:
- Pharmaceutical Companies
- Academic Institutions
- North America
- Latin America
- The Middle East and Africa
KEY MARKET LEADERS PROFILED IN THIS REPORT:
- Perkin Elmer, Inc.
- Definiens AG
- Sectra AB
- Koninklijke Philips N.V.
- GE Healthcare
- Inspirata Co
- Ventana Medical Systems, Inc.
- Leica Biosystems
- 3D-Histech Ltd
- Hamamatsu Photonics
- K., Digipath Co.
BROWSE REGIONAL REPORTS:
- North America Digital Pathology Market
- Europe Digital Pathology Market
- APAC Digital Pathology Market
- Latin America Digital Pathology Market
- MEA Digital Pathology Market
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