by The global 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 uses digital imaging tools to analyze and interpret pathology slides at electronic device monitors without the use of traditional glass microscope slides. This enables remote collaboration in diagnosis and consultation. Advantages include improved workflow and efficiency.
Market key trends:
One of the key trends driving the market growth is the rise of telepathology with the COVID-19 pandemic. The need for virtual collaborative diagnosis increased significantly during the pandemic-related restrictions. Telepathology allows sharing whole slide images over networks enabling remote diagnosis, consultation, teaching and quality assurance. This has boosted adoption of digital pathology solutions globally during the pandemic. Many healthcare systems are anticipated to continue using telepathology even post pandemic for improved accessibility in diagnosis.
Segment Analysis
The Digital Pathology Market Size is segmented based on product, type of pathology, end user and geography. Based on product, the market is divided into scanners, software, communication systems and storage systems. Scanners are dominating the segment currently and are expected to continue their dominance over the forecast period. The dominating position of scanners can be attributed to their rising adoption for scanning tissue samples so they can be digitized and examined on a computer monitor.
Key Takeaways
The global digital pathology market is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing adoption of digital pathology for cancer research as well as overcoming limitations of conventional microscopy.
Regional analysis shows that North America is currently the dominant region for digital pathology market and is estimated to continue its dominance over the forecast period. This can be attributed to the presence of developed healthcare infrastructure and increasing uptake of advanced digital pathology methods. The Asia Pacific region is expected to witness fastest growth owing to growing healthcare expenditure and rising focus on quality healthcare by emerging economies in the region.
Key players operating in the digital pathology market are Leica Biosystems Nussloch GmbH, Olympus Corporation, F. Hoffmann-La Roche Ltd., Merck KGaA, GE Healthcare, Mikroscan Technologies, Inc., Koninklijke Philips N.V., Sectra AB, Propath UK Limited, Inspirata, Inc., Hamamatsu Photonics, Inc., OracleBio Limited, MD Biosciences, Aiforia, Xybion Digital Inc., and Nucleai, Inc. The key players are focusing on new product launches and approvals to strengthen their presence in the market. For instance, in August 2022, Philips received approval from the US FDA for its intelligent pathology solution aimed at improving workflow efficiency.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
