Digital Pathology Market Research, 2030
The global digital pathology market size was valued at $735.75 million in 2020, and is expected to reach $1791.30 million by 2030, registering a CAGR of 9.3% from 2021 to 2030. Digital pathology is a computer-enabled, image-based information platform that helps for the management of information generated from digital slides. Growth of the global digital pathology market is majorly driven by increase in prevalence of cancer; rise in the demand for accurate diagnostics, and development of new digital pathology system by large number of key players. According to report published by Medscape, chronic diseases can be associated to the higher mortality rate. The fundamental cause for the development of advanced diagnostic solutions is the rise prevalence of cardiovascular disorders.. Thus, as the prevalence of chronic and cardiovascular diseases rises, the need for digital pathology systems increases driving the growth of the digital pathology market.
Digital pathology technology can aid a research pipeline in two ways. The first one is that the specified file storage and viewing applications may be used to arrange macroscopic images, tissue microarrays, and entire slide images. The second application of digital pathology in research is the development and implementation of image analysis techniques.
Key Market Dynamics
Rise in geriatric population and rapid technological advancements in digital pathology systems are the factors that fuel the growth of the digital pathology market. According to the National Cancer Statistics in 2020, around 1,806,590 new cases of cancer in the U.S. Therefore, the growing number of cancer cases can be attributed to the rapid increase in geriatric population which is more prone to cardiac disorders. This is anticipated to boost the growth of the market. In addition, in February 2019, Neuberg Diagnostics and OptraSCAN Inc., announced the launch of Global TELEPath Network for the pathologist community in UAE, India and South Africa under new joint venture namely Neuberg DIGIPATH. Therefore, development of new technologies in digital pathology system has led to increase the growth of the market.
Impact of COVID-19 Pandemic on Digital Pathology Market
The COVID-19 outbreak is anticipated to have a positive impact to fuel the growth of the global digital pathology market. The Center for Devices and Radiological Health of the U.S. FDA released an enforcement policy for remote digital pathology devices, which are intended for pathologists, clinical laboratories, and drug administration staff. Thus, rise in cases of chronic diseases has increased the usage of digital pathology systems for diagnosis, which is anticipated to drive the digital pathology market during the forecast period.
Thus, new innovations by key players and rise in number of product approvals propel the growth of the market. However, high cost associated with digital pathology systems is expected to hinder the market growth during the forecast period.
Market Segmentation
The digital pathology market is segmented into type, application, end user, and region. On the basis of type, the market is categorized into scanners, software, and storage & communication systems. On the basis of application, it is divided into teleconsultation, disease diagnosis, drug discovery, and training & education. On the basis of end user, it is categorized into educational, clinical, and pharma & biotech companies. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
On the basis of type, the scanners segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in R&D activities in the pharmaceutical & medical device industry, rise in demand for diagnosis of diseases, and surge in adoption of digital pathology systems. However, the disease software segment is expected to witness considerable growth during the forecast period, owing to increase in number of cancer cases and growth in number of key players for development of digital pathology systems in the medical device industry.
By Type
Scanners segment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
On the basis of application, the disease diagnosis segment was the major contributor in 2020, and is expected to maintain its lead during the forecast period, owing to increase in number of chronic diseases, rise in the number of cardiac disorders, and increase in demand for digital pathology systems for disease diagnosis. However, the drug discovery is expected to witness considerable growth during the forecast period due to increase in number of cancer cases, rise in use of digital pathology systems, and development of new digital pathology systems in the clinical laboratories.
On the basis of end user, the pharma & biotech companies segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to large number key players offering digital pathology systems, increase in demand for educational practices, development of novel & innovative pathology systems, and advancement in R&D activities. However, the clinical segment is expected to witness considerable growth during the forecast period, owing to increase in cardiovascular diseases, and surge in usage of digital pathology system to determine the efficacy of treatment.
By Application
Disease Diagnostics segment is projected as one of the most lucrative segment.
Regional/Country Market Outlook
North America dominated the digital pathology market in 2020, and is expected to continue to dominate during the forecast period, owing to rise in number of various types of cancer cases, presence of key players, development of the healthcare sector, and presence of new innovative digital pathology systems in the region. However, Asia-Pacific is expected to register the highest CAGR of 10.6 % from 2021 to 2030, owing to increase in prevalence of chronic diseases, and development of healthcare infrastructure.
By Region
Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 10.6% during the forecast period.
Competitive Landscape
The major companies profiled in the digital pathology market report include 3DHISTECH LTD, Danaher Corporation, Glencoe Software Inc., HAMAMTSU Photonics K.K, Indica Labs Inc., Koninklijke Philips N.V, Nikon Corporation, Perkinelmer Inc., Roche, and VisoPharma A/S.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the digital pathology market, and the current trends & future estimations to elucidate imminent investment pockets.
- It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing digital pathology market opportunities.
- Extensive analysis of the digital pathology market based on procedures and services assists to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the digital pathology market.
Digital Pathology Market Report Highlights
| Aspects | Details |
 By PRODUCT |
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 By APPLICATION |
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 By END USER |
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 By Region |
|
 Key Market Players | GLENCOE SOFTWARE, INC., DANAHER CORPORATION (LEICA MICROSYSTEM), HAMAMATSU PHOTONICS K.K., INDICA LABS INC., 3DHISTECH LTD., PERKINELMER INC., VISIOPHARM A/S, KONINKLIJKE PHILIPS N.V., F- HOFFMANN LA-ROCHE (ROCHE), NIKON CORPORATION |
Analyst Review
This section provides various opinions of the top-level CXOs in the digital pathology industry. Digital pathology is expected to witness significant growth in the near future, owing to increase in adoption of digital pathology over the traditional methods. In addition, the market is exhibiting high growth rate due to increase in usage of digital scanners. Moreover, surge in advantages offered by digital pathology and rise in prevalence of chronic & infectious diseases significantly contribute toward the growth of the market.
The CXOs further added greater consumer awareness and increase in demand for preventive diagnostic screening, escalating demand for healthcare services from overall population boost the growth of the market. Furthermore, technical advancements are predicted to broaden diagnostic imaging technology's clinical applications and increase the number of scans conducted.
In addition, rise in incidences of chronic and infectious disorders are expected to drive the market. Furthermore, surge in diagnosis as well as the growth in popularity of automated workflow in emergency clinical settings contribute toward the growth of the market.
Healthcare companies are more interested in the digital pathology market as a result of emphasis on early diagnosis and as well as accurate images. This leads to increase in its utilization for digital pathology systems which is a great opportunity for the market growth.
North America is expected to witness highest growth, in terms of revenue, owing to rise in number of teleconsultation, presence of key players, and development in healthcare investments. Europe was the second largest revenue contributor to the market in 2020, and is expected to register the fastest CAGR during the forecast period, owing to increase in incidences of chronic diseases and unmet needs for advanced digital pathology systems. However, high implementation cost, maintenance, and stringent government policies may restrain the market growth during the forecast period
The total market value of Digital Pathology market is $7,335.75 million in 2020.
The forecast period for Digital Pathology market is 2021 to 2030
The market value of Digital Pathology market in 2021 is $805.65 million.
The base year is 2020 in Digital Pathology market
Top companies such as 3DHISTECH LTD, Danaher Corporation, Glencoe Software Inc., HAMAMTSU Photonics K.K, Indica Labs Inc., Koninklijke Philips N.V, Nikon Corporation, Perkinelmer Inc., Roche, and Biopharma A/S held a high market position in 2020.
Scanners segment dominated the global market in 2020, and expected to continue this trend throughout the forecast period due to the technological advancements and new product launch and thus is expected to drive the segment
Increase in demand for new technologies in Digital Pathology such as AI based digital systems, advanced infrastructure for research & development and investments in healthcare is anticipated to drive the market in the forecast period.
North America is projected to account for a major share of the global Digital Pathology market during the forecast period. U.S. dominated the North America rise in investments for new Digital Pathology system launch in the R & D sector due to presence of key players across the country.
Digital Pathology is a practice of pathology that uses digital imaging.
Digital Pathology systems used for diagnosis of chronic and infectious diseases, and development of new cancer drugs.
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