Market Overview
Digital pathology is a setting for image-based information that is made possible by computer technology and enables the management of data produced by a digital slide. Tests that were formerly carried out by pathologists using five instruments can now be done with a single computerized device. These technologies, which also involve high-resolution sample scanning, online slide storage, image processing, and analysis on a computer, enable pathologists to cross-examine slides without physical evidence. Making primary pathological diagnoses from digital images immediately, remote pathology, archiving, and image analysis are examples of clinical uses. Applications outside of medicine include education, research, and skill evaluation. The rising incidence of cancer and the fast-expanding senior population are the factors that are contributing to the growing acceptance of digital pathology.
Report Analysis
According to the research report, “Digital Pathology Market: Current Analysis And Forecast (2021-2027)” states that the Digital Pathology Market will grow rapidly during the forecasted period of 2027 due to the increasing prevalence of cancer and the rise in demand for accurate diagnostics. The market for digital pathology is also anticipated to rise as a result of growing applications of digital pathology in drug development and companion diagnostics, as well as rising usage of digital pathology to improve lab efficiency. Additionally, the development of a new digital pathology system by a large number of key players will boost the growth of the digital pathology market. Furthermore, the robust adoption of Artificial Intelligence based Digital Tools will foster the digital pathology industry’s progress.
Segmentation
- By Product Type
On the basis of product type, the Digital Pathology Market is primarily split into Scanner, Software, and Storage systems. Among these, the scanner category held a substantial market share. The expansion of the category is attributed to rising R&D expenditures in the pharmaceutical and medical device sectors as well as the rapid uptake of digital pathology systems.
- By Application
In terms of applications, the Digital Pathology Market includes Teleconsultation, Training, Disease Diagnosis, and Drug Discovery. Because of the growth in the occurrence of rare diseases and expanding R&D activities in the medication development process, the drug discovery category accounted for a considerable proportion of the market.
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- By End-Users
The Digital Pathology Market in terms of end-users constitutes Pharmaceutical & Biotechnology Companies, Academic & Research, and Hospitals. A sizeable portion of the digital pathology industry was accounted for by the pharmaceutical and biotechnology industries. The increasing use of digital pathology for drug discovery research and drug toxicology testing is responsible for the rise of this market segment.
Key Players
Some major key players in the Digital Pathology Market are:
- Nikon Corporation
- Indica Labs Inc.
- Glencoe Software Inc.
- Hamamatsu Photonics K.K.
- Perkinelmer Inc.
- 3dhistech Ltd.
- Danaher Corporation
- Koninklijke Philips N.V.
- Visiopharm A/S
- Others
Geographical Analysis
Based on the geographical analysis, the Digital Pathology Market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The North American market held the highest market share among these regions in 2020 and is anticipated to expand at a strong CAGR over the forecasted period. This can be due to encouraging government initiatives towards the development of technologically advanced systems, ongoing R&D investments, increasing usage of digital imaging, and the presence of large players promoting the industry growth in the area.
Future Projections
Over the impending years, the Digital Pathology Market will grow with a high CAGR because of the rising prevalence of cancer coupled with a rapidly growing geriatric population during the anticipated period of 2027. Additionally, a greater emphasis on enhancing workflow effectiveness and the need for quicker diagnostic tools for chronic diseases have been major market drivers.
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Global Digital Pathology Market
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