Digital Pathology Market
Number of pages: 100 | Report Format: PDF | Published date: April 05, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 766.4 million |
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Revenue Forecast in 2031 |
US$ 1,837.0 million |
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CAGR |
10.2% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Product, Application, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global digital pathology market was valued at US$ 766.4 million in 2022 and is expected to register a revenue CAGR of 10.2% to reach US$ 1,837.0 million by 2031.
Digital Pathology Market Fundamentals
Digital pathology is the process of examining high-resolution digitally scanned histology pictures using computer tools and algorithms. Using the whole-slide imaging (WSI) approach, digital pathology allows transmitting digital images between sites for teaching, research, diagnosis, and quantitative assessments throughout the full landscape of tissue morphology. Patients benefit from the ability to rapidly send cases between organizations or across pathology networks, increasing access to expert assistance and opinion on the diagnosis. Increases laboratory workflow and connection, as well as workforce flexibility and efficiency, by assisting in developing digital training resources that promote the development of specialists in training.
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Digital Pathology Market Dynamics
Digital pathology is expected to show significant revenue growth during the forecast period from 2023 to 2031. The rising demand for research collaboration and expanding digital information across all scientific domains are driving increased acceptance. The demand for digital pathology solutions is growing as healthcare IT solutions are more extensively utilized. A rising number of firms are turning to these technologies to reduce costs, eliminate barriers, automate operations, and share content more effectively. Additionally, technical advancements such as microarray analysis and using a wide range of predictive models, such as hybrid models and API algorithms, are expected to fuel demand for digital image analysis. Digital photography, computerization, robotic light microscopy, and various fiber optic connections are all advancing the sector. Whole slide imaging (WSI) is one such technology that offers several advantages over light microscopes and is expected to generate revenue in the market.
Significant technical improvements in digital pathology systems also contribute to market revenue expansion. Digital imaging, computerization, robotic light microscopy, and numerous fiber optic links contribute to the rise. Whole slide imaging is one such approach that has several benefits over traditional light microscopes and is expected to generate profitable chances in this sector. The use of AI in healthcare is increasing, with a growing emphasis on enhancing the quality of patient care by incorporating AI into many elements of healthcare services, such as pathological diagnosis. Technology advancements in WSI systems have hastened the use of digital pathology systems in pathology. Clinical benefits of WSI include primary diagnosis, expert consultation, intraoperative frozen section consultation, off-site diagnosis, histologic conferences, training, and quality assurance. Complete digital slide scanners, viewing and archiving management systems, and integration with HIS and LIS are all part of digital pathology for in vitro diagnostic applications. Picture-watching software includes image analysis technologies. Pathologists assess WSIs and make diagnoses using digital pathology, integrated with the necessary equipment, software, and hospital networks. The latest WSI scanners can quickly analyze whole glass slides and produce high-resolution WSI.
However, some challenges can obstruct the revenue growth of the global market, such as lack of confidence in diagnostic results, the opacity of the diagnostic process, and the lack of interpretability of diagnostic results. Additionally, opacity in the AI development process, insufficient validation of AI, and inconvenience in practical use are some restraining factors. Moreover, the slow execution time of AI, lack of clinical workflow integration, simplicity of function, and limited to certain data and specific tasks can further obstruct the market revenue expansion.
Digital Pathology Market Ecosystem
The global digital pathology market is analyzed from four perspectives: product, application, end-user, and region.
Digital Pathology Market by Product
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Based on product, the global digital pathology market is segmented into scanners, software, and storage management.
The scanners segment accounts for the largest revenue share in the global market. The scanner segment is further sub-segmented into Brightfield and others. This scanner plays a crucial role in the digitization of pathological samples. Pathology scanners are designed to capture high-quality images of tissue samples, which are then used for analysis and diagnosis. These scanners offer advantages over traditional microscopy, including increased efficiency, accuracy, and speed.
Additionally, the increasing prevalence of chronic diseases and the growing demand for personalized medicine have increased the demand for digital pathology solutions, driving the revenue growth of the scanners segment. Using scanners also allows for the easy sharing of pathology images among healthcare professionals, leading to better collaboration and more accurate diagnoses. Moreover, the emergence of artificial intelligence and machine learning in pathology has increased the demand for high-quality digital images, which can be used to train algorithms for automated diagnosis. This has led to an increased focus on developing advanced scanners with better imaging capabilities, further driving the revenue growth of the scanners segment and thereby propelling the overall digital pathology market.
Digital Pathology Market by Application
The global digital pathology market is segmented based on application into drug discovery, disease diagnosis, and others.
The drug discovery segment dominates the global market, with the largest revenue share in the global market. Digital pathology systems can increase the efficiency of the drug discovery process by allowing researchers to analyze large volumes of tissue samples quickly and accurately. This can lead to faster identification of potential drug targets and more efficient drug development. It allows storing and analyzing large amounts of data, including images, metadata, and annotations. This can improve data management and make it easier for researchers to access and share data, leading to more collaboration and better outcomes. It can provide highly accurate and reproducible results, which is essential in the drug discovery process. This can help to minimize errors and increase the reliability of research findings. Digital pathology systems can be more cost-effective than traditional methods, as they can reduce the need for physical slides and laboratory space.
Digital Pathology Market by End User
Based on the end user, the global digital pathology market is segmented into hospitals, diagnostic labs, biotech & pharma companies, and academic & research institutes.
The hospital segment is expected to dominate the global market with the largest revenue share. The dominance of this segment is due to the rising number of hospital admissions and pathology services provided by big hospitals. Furthermore, strategic collaborations to provide innovative solutions through partnerships with prominent hospitals and increased usage of digital tools due to increased footfall are expected to support the segment's revenue growth.
Digital Pathology Market by Region
Based on the region, the global digital pathology market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The market revenue expansion in this area is attributed to continued R&D expenditures, government backing for technologically sophisticated systems, increasing digital imaging use, and the involvement of significant companies. The market's revenue growth is attributed to regional enterprises focusing on digital pathology research and producing enhanced technologies to improve image analysis. The increased use of digital pathology for disease detection and advantageous payment rules in the United States are expected to promote regional expansion by raising the standard of cancer diagnosis. The growing use of digital pathology in education and training and the implementation of Al into digital pathology systems are driving regional market revenue expansion.
Latin America, the Middle East & Africa is expected to increase significantly during the forecast period. The rise in cancer occurrences, increase in teleconsultations, high efficiency of digital pathology systems, higher adoption rate, and rising government and industry participant activities propel Latin America and the Middle East & Africa digital pathology market. Furthermore, the growing demand for integrated healthcare facilities, which can be met by implementing digital pathology systems, would present service providers with profitable growth opportunities if they could overcome barriers such as the high cost of implementing new technology or infrastructure. On the other hand, the region's digital pathology market is expected to be hampered by stringent regulatory considerations for primary diagnosis, the absence of standard guidelines for digital pathology, a lack of reimbursement, and a shortage of skilled people.
Competitive Landscape of the Global Digital Pathology Market
Expansion initiatives, promising pipeline products, and product approvals act as revenue growth opportunities for the companies operating in this market. However, intense competition, product liability claims, and government regulations could affect its profitability.
The prominent players operating in the global digital pathology market are:
Strategic Development in Digital Pathology Market
Leica Biosystems (Danaher), Hamamatsu Photonics Inc., and Koninklijke Philips N.V. are a few key players in the global digital pathology market.
The scanners segment dominates the global digital pathology market in terms of the largest revenue share.
Asia Pacific region is expected to observe the highest global digital pathology market revenue growth during the forecast period.
The lack of skilled professionals and the high cost of digital pathology systems are the major restraining factors to the global market revenue growth.
The process of scanning glass slides using a whole slide image scanner and then examining the digitized pictures using an image viewer, generally on a computer display or mobile device, is known as digital pathology.
*Insights on financial performance are subject to the availability of information in the public domain