Digital Pathology Market:
The Digital pathology market size was valued at USD 882.7 million in the year 2020 and is anticipated to reach at a CAGR of 6.8% during the forecast period 2021-2027. Digital pathology is also referred as virtual microscopy enables managing information generated through a digital slide. Digital pathology service provides scrutiny and it is the practice of transferring glass slides into digital slides and viewing, managing and analyzing these slides later on a computer monitor is possible. Digitalization of pathology leads to the computerization of tests during illness diagnosis amid other application. If we take an example, a single digital instrument is able to perform tests, which were performed earlier making use of five instruments by pathologists. It becomes easy to obtain high-resolution sample scanning and store digital slides online with the use of this digital pathology service. Such technically inclusive process also covers economical characteristics by being effective, precise and a means to detect chronic illnesses early. It works as the efficient digital ecosystem for managing information of generated data via numerous nodes.
Digital Pathology Market Overview Dynamics:
There are a number of factors that contribute in driving the digital pathology market such as growing preference towards digital pathology to augment lab efficiency and rising application in companion diagnostics and drug finding. Furthermore, a few other market impelling factors include investment made in the expansion of laboratory infiltration of market. Increasing investment in healthcare in several developed countries also contributes towards the market growth. There is increase in the use of digital pathology to diagnose illness because of the incorporation of digital pathology digital dictation, digital tools and bar coding, which consequently enhances the quality, efficiency and safety of the illness diagnosis in pathology laboratory. The market is also anticipated to be impelled by the growing preference for telepathology and growing concentration on drug discovery. Growth in global digital pathology market is primarily driven by entry of new players in digital pathology space, increase in productivity & need for digitization, expanding applications of digital pathology etc. Moreover, increasing volume and complexity of the histopathology workload is expected to contribute to growth of global market during the forecast period. But, high cost to diagnostic centers of transition from traditional to digital pathology is expected to limit the growth of global market. The lack of skilled pathologists and high cost to pay in digital pathology systems are major restraining factors of the digital pathology market growth during the forecast period.
Digital Pathology Scanners segment is expected to Expand at Highest Growth Rate
Approval of first digital pathology system for clinical use in 2017 would enhance the penetration of digital pathology solutions among clinical applications and thus would drive the global market growth. Pathology laboratories are finding digital pathology useful in certain aspects of clinical practice.
North America to Dominate the Global Market
North America accounted for highest revenue share in global digital pathology market. However, the large-scale adoption of digital pathology in clinical diagnosis depends on parallel development of clinical IT solutions. FDA approval is not enough to create large scale adoption of digital pathology solutions, and it also depends on development of several other parallel technologies such as next-generation scanning systems, improved image viewing and analysis software, digital infrastructure development etc.
Global market report gives comprehensive outlook on global market scenario, growth trends, shares, with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global digital pathology market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, application, usage, end user, and region. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyze global digital pathology market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global digital pathology market report include manufacturers, distributors, policy makers, and service providers engaged in global digital pathology products.
- Perkin Elmer Inc. (U.S.)
- Olympus Corporation (Japan)
- Spectra AB (Sweden)
- Philips Healthcare (U.S.)
- Danaher Corporation (Leica Microsystems) (U.S.)
- ZEISS Group (Germany)
- Roche Diagnostics (Germany)
- DigiPath Corp (U.S.)
- 3D-Histech Ltd (Hungary)
- GE Healthcare (U.S.)
Key players in the market are focusing to provide versatile and unique products in the global market, in order to maintain their share in the market. Established players such as Roche, Perkin Elmer, GE Healthcare, Olympus etc., are benefited with customer loyalty to their products. However, the market is seen to be concentrated to developed economies such as the U.S. and Europe.
Key Findings of the Report:
- Global market expanding at significant CAGR over 2020 to 2026 owing to need for digitization in pathology and growing complexity of diagnostic workflow
- Based on application, clinical research & toxicology segment of digital pathology market accounted for largest market revenue share in 2019 and projected to continue to do so during the forecast period
- Players focusing on product approvals and geographical expansion to retain market position in global digital pathology market
By Product Type
- Software solution/application
- Communication Systems
- Storage Systems
- Research & Academic
- Clinical Research & Toxicology
- Clinical Diagnostics
- Human Pathology
- Animal Pathology
By End User
- Reference Labs & Pathologists
- Pharmaceutical Companies
- Teaching & Research Institutes
- Others (vet, clinics etc.)
- Rest of Europe
- Australia & New Zealand
- Rest of Asia Pacific
- Rest of Latin America
Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2020) and forecast (2021-2027)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework etc.