Digital Pathology Market Expected to Reach $1791.30 Million by 2030

According to a new report published by Allied Market Research, titled, “Digital Pathology Market by Type, Application Type, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,"the digital pathology market was valued at $735.75 million in 2020, and is estimated to reach $1791.30 million by 2030, growing at a CAGR of 9.3% from 2021 to 2030.

Digital pathology is an emerging technology in the field of pathology, where test results are converted into digital images for easy viewing, analysis, storage, and management of the collected data. This is expected to result in many advancements and upgradation of conventional pathology. It introduced whole slide imaging technologies, which enabled the digitalization of an entire specimen at diagnostic quality improves laboratory workflow. Digital pathology is rapidly gaining momentum as an essential technology with specific support for education, drug discovery & tissue based research, and practice of human pathology throughout the world. Thus, lack in number of pathologists globally is addressed by the use of digital pathology, which is the major benefit of this technology. In addition, increase in applications of digital pathology for disease consultation, especially for cancer, boosts the market growth. The other key factors contributing to the growth of this market are rise in prevalence of chronic diseases and convenience  in virtual transportation of slides

Increase in prevalence of cancer cases and rise in adoption of new digital pathology systems boost the growth of the market. For instance, in March 2018, F-Hoffmann La-Roche Ltd. announced the launch of VENTANA DP 200 Slide scanner for digital pathology. The scanner is used to produce images with high quality. In addition, in January 2018, Inspirata acquired the company Omnyx from GE healthcare. This acquisition ensured that Inspirata provided one of the most comprehensive digital pathology solutions. Thus, rise in innovations of new digital pathology systems propels the market growth

Furthermore, increase in number of teleconsultations; rise in applications in drug discovery; surge in usage in diagnosis of chronic diseases; increase in use by physicians & scientists for working in various fields such as oncology, medical anatomic pathology, and preclinical toxicology enhance the growth of the market. According to CrownBio Blog, digital pathology is involved in the analysis of tissue samples by trained pathologists. While the work flow of digital pathology is a gold standard for the diagnosis of many diseases which includes cancer. Moreover, implementation of powerful AI technology combined with digital pathology system, and surge the usage in cancer drug discovery drive the growth of the digital pathology market.

Thus, these aforementioned factors are anticipated to drive the growth of the digital pathology market. In addition, initiatives taken by governments to ensure early diagnosis and symptoms of disorders and improvement in development of innovative technologies in the healthcare sector thereby propelling the growth of the market.

On the basis of product type, the scanners segment is expected to register significant growth rate during the forecast period, owing to the benefits offered by digital pathology scanners such as it aids in analyzing multitude of images with ease and in studying complex morphologies & features of soft tissues. In addition, these systems perform repeated data analysis across experiments and produce images with high resolution. Moreover, recent approvals granted by FDA boost the growth of digital pathology scanners market.

On the basis of application, the disease diagnostics segment will show significant growth, owing to growth in number of research activities and increase in adoption of digital scanning among the pharmaceutical and biopharmaceutical companies.

On the basis of end users, the pharma & biotech companies segment accounted for the largest share in the global digital pathology market, as it delivers well-organized, documented, retrieved, and logistical pathological procedures. However, clinical segment will show fastest market growth due to rise in number of clinics incorporating digital pathology over traditional pathology, which in turn ,fuels the market growth.

North America accounted for a majority of the global digital pathology market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of chronic diseases, consumer awareness for early diagnosis, presence of key players, increase in healthcare expenditure, advancements in application, and rise in government initiatives in the region. However, Asia-Pacific is anticipated to witness notable growth, owing to rise in incidences of cancer, surge in demand for healthcare services from an aging population, and increase in investments in healthcare sector in the region.

Key Findings of the Study

• On the basis of type, the scanners segment was the highest contributor to the market in 2020.
• On the basis of application type, the disease diagnosis segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
• On the basis of end user, the pharma & biotech companies segment was the highest contributor to the market in 2020.
• On the basis of region, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest 10.6% CAGR during the forecast period.

North America dominated the digital pathology market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of cancer, presence of key players, development of the healthcare sector, presence of numerous digital pathology systems, and advancement in technology for digital pathology system in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in prevalence of inflammatory diseases, improvement in healthcare infrastructure, and technological advancements in digital pathology systems.