Digital Pathology Market Analysis | 2022-2028

Market Insights

"The global digital pathology market is expected to grow from USD 831.45 million in 2021 to USD 1816.21 million by 2028 at a CAGR of over 11.8% during the forecast period of 2022-2028."

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What is digital pathology?

Digital pathology is referred to as an image-based information setting that is enabled by computer technology which allows the management of information generated via a digital slide. Digitalization of pathology has further led to the automation of tests during disease diagnosis among other applications.

A single digital device can perform tests that were previously carried out using five instruments by pathologists. These solutions offer analysis & scrutiny of images on a computer, online storage of digital slides, and high-resolution sample scanning, which helps pathologists to cross-examine slides without physical evidence.

Key Players

Key players operating in the global market are:

• Danaher (The U.S.)
• Mikroscan Technologies (The U.S.)
• 3DHISTECH Ltd. (Hungary)
• Hamamatsu Photonics, Inc (Japan)
• Koninklijke Philips N.V. (Netherlands)
• Olympus Corporation (Japan)
• F. Hoffmann-La Roche Ltd (Switzerland)
• Inspirata, Inc (The U.S.)
• Visiopharm A/S (Denmark)
• Huron Digital Pathology (Canada)

Market Dynamics

The growth of the market is primarily driven by:

• The increasing efficiency of digital pathology systems, the ease of virtual transportation of slides, and the efficient cost of digital pathology products are the key factors augmenting market growth.
• The surge in initiatives toward the commercialization of cost-effective digital pathology systems is further expected to create lucrative opportunities for market players during the review period.
• A lack of skilled professionals and unclear reimbursement policies are expected to hamper the industry’s expansion.

Opportunities:

The digital pathology market is expected to grow rapidly in the future because of its use in many applications including diagnostics, drug development, and education. Some market drivers worth exploring are the use of AI and machine learning to improve image analysis, virtual pathology for teleconsulting, and the increasing need for remote consultations and real-time image sharing. Also, the technology has helped to enhance the accuracy of diagnosis and has also reduced costs thus making it popular in hospitals and academic institutions.

The adoption of digital pathology is significantly improving lab efficiency in several key ways:

Reduced turnaround times: Digital pathology enables pathologists to remotely access and view the diagnostic information for the primary diagnosis and reduce the time to generate reports.

Increased productivity: Some of the benefits of these AI diagnostic algorithms are that they assist pathologists in the sorting of complex cases so that they can concentrate on the more difficult samples that require the attention of a professional. More than 80% of digital pathology users have started adopting AI.

COVID-19 Impact

The COVID-19 pandemic has positively influenced the digital pathology industry. Government bodies across the globe are focusing on curbing COVID-19 with important measures, such as social distancing, nationwide lockdowns, and large-scale quarantines to prevent the spread of the coronavirus.

This pandemic has further created immense opportunities for the industry participants involved in digital pathology. For instance, the U.S. FDA’s Center for Devices and Radiological Health released an enforcement policy for remote digital pathology devices proposed for pathologists, drug administration staff, clinical laboratories, and healthcare facilities.

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Segment Analysis

Product Insights

"The device segment accounted for the largest market share."

The device segment witnessed the highest market share of more than 50% in 2021 and is projected to register a healthy CAGR during the assessment period.

The market is segmented into software, devices, storage, and systems. This is mainly ascribed to the rise in academic research activities and the improved resolution of slide management systems and scanners, thereby bolstering segment growth.

Application Insights

"The academic research application segment accounted for the largest market share."

The Academic Research Application Segment accounted for the largest market share of more than 45.0% in 2021 and is projected to expand further at a steady CAGR from 2022 to 2028.

The market is segmented into drug discovery & development, academic research, disease diagnosis, cancer cell detection, and others.

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End-use Insights

"The hospital's segment accounted for the largest market share."

The hospital's segment accounted for the largest revenue share of more than 35% in 2021 owing to the high adoption of digital scanning techniques in hospitals for faster diagnosis and better patient compliance.

The market is segmented into hospitals, diagnostic labs, biotech, and pharma companies, and academic and research institutes based on end-use. In August 2020, Mackenzie Health and Philips teamed up to create one of Canada's first digital pathology platforms to assist patients in receiving faster and more effective care.

Regional Trends

"The North American market accounted for the largest market share."

The North American market accounted for the largest market share of over 40% in 2021 and is likely to grow at a robust CAGR during the review period.

This can be attributed to supportive government initiatives about the development of technologically advanced systems, continual deployment of R&D investments, growing adoption of digital imaging, and the presence of major players boosting industry growth in the region.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

This global digital pathology market research report is categorized into the following segments and sub-segments:

By Product 

• Software
• Devices (Scanners, Slide Management System)
• Storage
• System

By Application 

• Drug Discovery & Development
• Academic research
• Disease Diagnosis
• Cancer Cell Detection
• Others

By End Use 

• Hospitals
• Biotech & pharma companies
• Diagnostic Labs
• Academic & research institutes

Region

• North America
• Europe
• Asia-Pacific
• Rest of the World

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.