Polaris Market Research recently published a research report on “Digital Pathology Market Share, Size, Trends, Industry Analysis Report, By Application (Drug Discovery & Development, Academic Research, Disease Diagnosis); By End-Use (Hospitals, Biotech & Pharma Companies, Diagnostic Labs, Academic & Research Institutes); By Product; By Region; Segment Forecast, 2021 – 2028” in its research database.” in its research database.
According to the research report, the global digital pathology market size & share was valued at USD 877.5 million in 2020 and is expected to reach USD 1.44 Billion By 2028, growing at a CAGR of 6.7% during the forecast period.
What is Digital Pathology? How Big is Digital Pathology Market Size?
Digital pathology is the sub-sector of pathology that contains the acquisition, management, sharing, and interpretation of pathology information generated from slides and data in a digital environment. Virtual microscopy is utilized through the use of computer-based technology. Then, digital slides are generated by capturing glass slides to provide a high-quality image that can be viewed, managed, shared, and analyzed on a computer screen.
The digital pathology sector is growing and finding applications in diagnostic medicine in order to achieve efficient and cheaper diagnoses and prognoses. Other healthcare applications of this technology include clinical research, diagnostic decision support, intraoperative diagnosis, review of immunohistochemistry (IHC), and tumor boards. The key factors driving the growth of the digital pathology market include a rising emphasis on enhancing workflow efficiency for producing better diagnoses and an increasing prevalence of chronic diseases.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Key Points of the Report Will Improve Your Decision-Making Power
- The report analyzes and forecasts the size of the global market
- The report studies deliver the data related to revenue updates, volume, and projected expansion rate of demand.
- The report delivers an overview of market dynamics and factors that are affecting the growth of the global market
- Competitive study of key industry players will give a competitive advantage to customers in their respective businesses.
- The report also includes the demand/supply outlook for the market across the globe.
Some of the Top Market Players Are:
- 3DHISTECH Ltd.
- Apollo Enterprise Imaging Corp.
- ContextVision AB.
- Glencoe Software Inc
- Hamamatsu Photonics Inc.
- Huron Digital Pathology
- Indica Labs
- Inspirata Inc.
- KONFOONG BIOTECH INTERNATIONAL CO. LTD
- Koninklijke Philips
- Leica Biosystems Nussloch GmbH
- Mikroscan Technologies
- Objective Pathology Services
- Olympus Corporation
- Proscia Inc.
- Roche Ltd.
- Sectra AB
- Visiopharm A/S
- XIFIN Inc
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Growth Driving Factors
- Rising adoption of digital pathology in medication development to uplift the market growth
The growing adoption of digital pathology to increase lab efficiency and increasing use of digital pathology in drug development and companion diagnostics are some of the major factors boosting the digital pathology market share. A surge in cancer cases and other chronic conditions is expected to raise the requirement for digital pathology use. This factor is also anticipated to push the market demand. Also, continuous technological developments in the digital pathology field is another prominent factor propelling the adoption of this market.
- Rapid technological advancements in digital pathology systems push market development
Moreover, rapid advancements in computerization, digital imaging, analysis, and microscopy techniques, as well as growth in in-silico simulation tools and fiber optic communications, are expected to accelerate the global market growth. Also, the COVID-19 outbreak that forced government bodies to impose nationwide lockdowns and social distancing has created a lucrative opportunity in the digital pathology market. An increasing number of organizations adopting healthcare IT solutions is further anticipated to flourish in the digital pathology industry development.
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- In September 2021, Visiopharm (Denmark) and Agilent Technologies, Inc. (US) signed an agreement to unite the staining solutions portfolio and imaging with A.I.
- In April 2021, Philips announced the partnership with Ibex Medical Analytics to integrate its digital pathology solutions with the latter’s AI-powered Galen platform.
Digital Pathology Market: Report Scope
|Market Outlook for 2028||USD 1.44 Billion|
|Market Size 2020 Value||USD 877.5 Million|
|Expected CAGR Growth||6.7% from 2021 – 2028|
|Forecast Year||2021 – 2028|
|Top Market Players||3DHISTECH Ltd., Apollo Enterprise Imaging Corp., ContextVision AB., Corista, Danaher, Glencoe Software, Inc, Hamamatsu Photonics, Inc., Huron Digital Pathology, Indica Labs, Inspirata, Inc., KONFOONG BIOTECH INTERNATIONAL CO., LTD, Koninklijke Philips, Leica Biosystems Nussloch GmbH, Mikroscan Technologies, Objective Pathology Services, Olympus Corporation, OptraScan, Proscia Inc., Roche Ltd., Sectra AB, Visiopharm A/S, and XIFIN, Inc.|
|Segments Covered||By Product, By Application, By End-Use, By Region|
|Customization Options||Customized purchase options are available to meet your research needs. Explore customized purchase options|
- The device product segment dominated the market
Based on product, the market is segmented into software, device, and storage systems. The device segment held the largest digital pathology market share in 2020. Scanner and slide management systems are the two most commonly used products in the device segment. The segment growth can be attributed to the increased resolution coupled with rising research activities in the industry.
- The academic research of the application segment held the largest industry share
On the basis of application, the market is divided into drug discovery & development, academic research, and disease diagnosis. Of all, the educational research segment witnessed the highest share in the digital pathology industry due to its major applications in several research activities, such as tumor morphological research and biomarker profiling. Furthermore, the disease diagnosis market segment is forecasted to generate lucrative growth over the foreseen period, due to the surging prevalence of chronic conditions.
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A surge in R&D activities in North America to flourish the digital pathology market.
Based on geography, North America led the market with the largest revenue share in 2020 due to the favorable government guidelines as well as rising research and development initiatives in diagnostic ability, and the presence of leading market players in the region. Further, factors such as the growing use of digital pathology for disease diagnosis and beneficial reimbursement policies in the U.S. is anticipated to propel the digital pathology market sales.
Moreover, the digital pathology industry in the Asia Pacific region accounted for the largest revenue share during the forecast period. This high share can be attributed to the increasing adoption of digital imaging in low- and middle-income countries coupled with a surge in the presence of major vendors operating in the market. Additionally, the increasing demand for advanced treatment options, increasing laboratory costs, and improved healthcare services are expected to uplift the growth of the digital pathology market.
Browse the Detail Report “Digital Pathology Market Share, Size, Trends, Industry Analysis Report, By Application (Drug Discovery & Development, Academic Research, Disease Diagnosis); By End-Use (Hospitals, Biotech & Pharma Companies, Diagnostic Labs, Academic & Research Institutes); By Product; By Region; Segment Forecast, 2021 – 2028” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/digital-pathology-market
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The market is primarily segmented on the basis of product, application, end-use, and geographic region.
By Product Outlook
- Storage System
By Application Outlook
- Drug Discovery & Development
- Academic Research
- Disease Diagnosis
By End-Use Outlook
- Biotech & Pharma Companies
- Diagnostic Labs
- Academic & Research Institutes
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Key Questions Answered in The Report:
- What is the growth potential of the market?
- Which regional market will emerge as a pioneer in the upcoming years?
- Which application segment will experience strong growth?
- What might growth opportunities arise in the industry in the future?
- What are the most significant challenges that the market could face in the future?
- Who are the key companies in the digital pathology market?
- What are the main trends that are positively impacting the growth of the market?
- What growth strategies are the players considering to stay in the market?
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