 |
| Digital Pathology Market Size |
The Digital Pathology Market is estimated to be valued at US$ 884.4 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market Overview:
Digital pathology refers to using digitized slides in diagnostic pathology.
Pathologists use scanners to capture digitized slides and digital slide imaging
systems to view and analyze high resolution images on computer monitors.
Digital pathology offers various advantages over traditional microscopy such as
managing large volume of data, remote diagnosis, and education.
Market Dynamics:
The growth of the global digital pathology market is driven by increasing
prevalence of cancer and other chronic diseases which requires robust
pathologic examination. According to World Health Organization (WHO), cancer
burden rose to 19.3 million new cases and 10 million cancer deaths in 2020.
This growing disease burden will increase demand for advanced pathology
evaluation methods like digital pathology . Secondly, digital pathology
solution provides benefits like real-time collaboration, speedy report
turnaround, and less resource intensive compared to traditional microscopy.
This drives hospitals and diagnostic labs to adopt digital pathology to improve
workflow and quality of diagnosis.
Segment Analysis
The global Digital
Pathology Market Size is dominated by the software segment. This is
owing to the rising adoption of digital pathology solutions like image analysis
software and integrated platforms by pathology laboratories and hospitals to
improve workflow efficiency. The image analysis software sub-segment currently
holds the largest market share and this dominance is expected to continue over
the forecast period. This is due to the rising demand for advanced image
analysis tools to quantify biomarkers, detect cancerous tissues, and streamline
diagnosis.
PEST Analysis
Political: Governments worldwide are promoting digital healthcare solutions to
improve diagnostic accuracy and ensure quality control of histopathology tests.
Favorable reimbursement policies are also boosting market growth.
Economic: The rising healthcare expenditure across countries and growing focus
on lowering diagnostic costs are driving investments in digital pathology
systems.
Social: Increasing incidence of cancer and growing awareness about precision
diagnostics are fueling the demand for more efficient diagnostic methods like
digital pathology.
Technological: Advancements in WSI, AI, big data analytics, and cloud computing
are supporting the adoption of digital pathology solutions. Collaborations
between digital pathology providers and tech giants are further expanding
applications.
Key Takeaways
The global digital pathology market size was valued at US$ 884.4 Mn in 2023 and is expected to reach over US$ 4 Bn by
2030, expanding at a formidable CAGR of
12%. North America currently holds the largest share in the market owing to
rapid technological adoption and presence of key players in the region. The
increasing workload of pathologists as a result of rise in biopsy procedures
and cancer cases is a major factor fueling demand in the region.
With digital pathology gaining traction in molecular diagnostics, drug
discovery, and biomarker research, key players are actively focusing on
integrating AI and machine learning capabilities in their solutions. Offerings
with artificial intelligence have the potential to transform cancer diagnosis
by enabling computer-assisted disease classification from digitized slides.
Key players operating in the digital pathology market are Leica Biosystems
Nussloch GmbH, Â Olympus Corporation, Â F. Hoffmann-La Roche Ltd., Â Merck
KGaA, Â GE Healthcare, Â Mikroscan Technologies, Inc., Â Koninklijke Philips
N.V., Â Sectra AB, Â Propath UK Limited, Â Inspirata, Inc., Â Hamamatsu
Photonics, Inc., Â OracleBio Limited, Â MD Biosciences, Â Aiforia, Â Xybion
Digital Inc., Â Nucleai, Inc. These companies are focusing on new product
launches and acquisitions to strengthen their market position.
Read More: https://www.rapidwebwire.com/digital-pathology-market-scope/