by Market Overview:
Digital pathology utilizes whole-slide imaging technology and image analysis algorithms to convert glass slides into high-resolution digital images that can be analyzed on computers. It offers advantages like on-line independent diagnostic review, remote diagnosis, inter-institutional consultations, reduced turnaround time compared to conventional pathology. Digital pathology has emerged as an effective tool in disease diagnosis, prognosis and making clinical decisions.
Adoption of wireless whole slide imaging along with integrated image analysis software. This allows pathologists to wirelessly access, analyze and share digital slides in real time from any location, without physically moving glass slides. For instance, in 2023, Leica Biosystems launched Aperio GT 450 DX, its new generation of wireless Whole Slide Imaging system. It digitalizes slides and enables real-time interaction and collaboration between pathologists for image interpretation anytime, anywhere. This latest innovation streamlines workflow in digital pathology and supports clinical decision making for precision diagnosis and treatment.
Market key trends:
The digital pathology market is witnessing growing adoption of scanning devices and software among labs and hospitals owing to various advantages offered such as fast diagnostic services, scope for consultation among global experts, and ability to store and share digitized slides. Digitization of pathology has enabled rapid and more reliable disease diagnosis along with access to virtual second opinions. Furthermore, rising prevalence of chronic diseases coupled with growing geriatric population has increased the workload on pathologists. Digital pathology solutions help address this problem by enhancing productivity and efficiency.
SWOT Analysis
Strengths: Increased efficiency and productivity for pathologists. Provides virtual collaboration and second opinion. Easier storage and sharing of digitized slides.
Weaknesses: High upfront installation costs. Requirement of appropriate IT infrastructure and networking capabilities.
Opportunities: Growth in developing countries. Rising initiatives for application of AI and analytics.
Threats: Data security issues. Reimbursement and regulatory compliance challenges.
Key Takeaways
The global digital pathology market is expected to witness high growth, exhibiting CAGR of 12.2% over the forecast period, due to increasing integration of artificial intelligence capabilities.
Regionally, North America dominated the market in 2023 and is expected to maintain its lead over the forecast period as well, owing to rapid adoption of digital pathology systems and presence of major players in the region. Asia Pacific is expected to witness fastest growth rate over the coming years on account of rising healthcare expenditure, growing pathology labs, and increasing awareness.
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., Nucleai, Inc. Key players are focusing on developing advanced solutions integrated with AI and analytics for faster and more reliable diagnosis.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
