Digital Pathology Market Size And Forecast

Digital Pathology Market size was valued at USD 562.6 Million in 2020 and is projected to reach USD 1368.3 Million by 2028, growing at a CAGR of 11.80% from 2021 to 2028.

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.

What is Digital Pathology?
Digital pathology is a branch of pathology that focuses on data management which is based on information that is generated from digitized specimen slides. Digital pathology utilizes virtual microscopy with the help of computer-based technology. Despite the fact that the fundamental viewing capabilities has not changed significantly, digital pathology has resulted in significant improvements in pathology lab efficiency, workflow, and income. The digital pathology enables the user to convert glass slides into digital slides that can be managed, shared, viewed, and analysed on a computer monitor. Automated image analysis tools can also be used to assist in the interpretation and quantification of biomarker expression within tissue sections. Primary diagnosis, diagnostic consultation, intraoperative diagnosis, medical student and resident training, manual and semi-quantitative immunohistochemistry (IHC) review, clinical research, diagnostic decision support, peer review, and tumour boards are all examples of healthcare applications of digital pathology. High-throughput scanning of glass slides, quantitative analysis of entire slide images, real-time web-based consultations with experienced pathologists, and safe retention of pathology data are some of the Life Science applications. With particular support for education, tissue-based research, drug development, and the profession of human pathology across the world, digital pathology is quickly gaining traction as a proven and important technology.

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Global Digital Pathology Market Overview
The growth of the global digital pathology market is being driven by the rising adoption of digital pathology to enhance lab efficiency. The increasing prevalence of cancer is anticipated to drive the demand for digital pathology and owing to this the market will flourish at a rapid pace. According to the WHO report, about 1 in 6 deaths worldwide are due to cancer. The most prevalent forms of cancer in men are lung, prostate, colorectal, stomach, and liver cancer, while breast, colorectal, lung, cervical, and thyroid cancer are the most prevalent in women. The prevalence of cancer continues to increase worldwide, bringing enormous physical, emotional, and financial pressure on people, families, governments, and health systems. Digital Pathology holds enormous promise for treating many different diseases. The increase in the prevalence of cancer disease has led to the need for extensive diagnostic and clinical research; Digital Pathology is a significant part of this research. Furthermore, increasing application in drug development & companion diagnostics and rising spending in developing economies in the healthcare sector is also supporting the growth of the digital pathology market. For instance, Taiwan spends around 6.6% of the GDP in the healthcare sector in 2018. Likewise, other Asia economies like Japan, South Korea, and Singapore have spent 10.9%, 8.1%, and 2.5% of GDP respectively on healthcare. Moreover, the industry players are also taking various initiatives owing to which the global digital pathology is growing at a rapid pace.

However, some restraints are liming the growth of the global digital pathology market. The high cost of digital pathology systems may hamper the growth of the global digital pathology market. Also, the dearth of trained professionals will create many challenges for the market to grow during the forecast period. Nevertheless, the introduction of affordable scanners is expected to offer lucrative growth opportunities for players operating in the digital pathology market.

Global Digital Pathology Market: Segmentation Analysis
The Global Digital Pathology Market is segmented based on 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, high incidence and prevalence of cancer and other chronic diseases is expected to escalate the growth of digital pathology market.

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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 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 in the Digital Pathology market. The region’s market growth is expected to be fuelled by 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.

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