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Digital Pathology Market Key Insights, Profiling Companies and Growth Strategies
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According to our latest market research study on “Digital Pathology Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Application, and End User,” the market is expected to grow from US$ 852.08 million in 2021 to US$ 1,892.40 million by 2028; it is estimated to grow at a CAGR of 12.1% from 2021 to 2028. The report highlights the market trends, drivers, and deterrents. Technological advancements in digital pathology systems, growing preference for telepathology in remote areas, and digital pathology for cancer diagnosis are among key factors driving the market growth. However, unreimbursed services hinder the market growth.
Based on product, the global digital pathology market is segmented into scanners, software, storage, communication systems. In 2020, the scanners segment held the largest share of the market. However, the software segment is expected to register the highest CAGR during 2021–2028. Scanner helps in producing quick, reliable, and high-resolution images of cells. It also helps pathologists, histologists, and other medical professionals to scan slides and upload an image on the network for remote access and to collaborate it among the peers. The market for the scanners segment is anticipated to grow in the future owing to the increasing use of scanners in digital pathology.
With other lab medicine disciplines, the COVID-19 outbreak pandemic has had a surprising impact on histology and digital pathology. The pandemic has curtailed all but the most painful surgeries and cancer treatments. Thus, histology labs are receiving the most difficult tissue samples to process. There is also a workforce shortage as the number of retiring pathologists is higher than those entering the field. Also, many pathologists are staying out of a lab due to physical distancing requirements. For instance, the US Food and Drug Administration (FDA) approved the use of common consumer monitors in the Philips IntelliSite Pathology Solution at home. In addition, the FDA has given Leica Biosystems a permission to market its Aperio AT2 DX System, which is substantially identical to Philips' equipment, for clinical diagnosis and remote diagnosis of COVID-19 patients in emergency situations in the US.
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A few prominent players operating in the digital pathology market are Koninklijke Philips N.V.; Nikon Corporation; Perkin Elmer, Inc.; Indica Labs; 3DHISTECH Ltd.; Danaher; Hamamatsu Photonics K.K.; F. HOFFMANN-LA ROCHE LTD.; Visiopharm A/S; and Glencoe Software, Inc.
Companies are launching new and innovative products and services to sustain their position in the digital pathology market. In May 2020, Danahar (Leica Biosystems) launched the Aperio GT 450 DX, its next generation digital pathology scanner, in APAC. With continuous loading, no-touch operation, and 32 second scan time at 40x magnification, the Aperio GT 450 DX (registered as CE IVD and TGA) allows healthcare organizations to scale up digital pathology so that they can meet increasing demands without sacrificing quality.
The global digital pathology market is segmented on the basis of product, application, end user, and geography. The market, based on product, is segmented into scanners, software, storage, communication systems. Based on application, the market is segmented into telepathology, disease diagnosis, drug discovery, and training and education. By end user, the global digital pathology market is segmented into educational, clinical, and pharma and biotech companies. The market, by geography, is broadly segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America.
Digital Pathology Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product ( Scanners, Software, Storage and Communication Systems ); Application ( Telepathology, Disease Diagnosis, Drug Discovery, Training and Education ); End User ( Educational, Clinical, Pharma and Biotech Companies ), and Geography.
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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Contact Person: Sameer Joshi
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