As to our report, the size of the global digital pathology market was worth USD 463.5 Million in 2019 and estimated to be growing at a CAGR of 11.66%, to reach USD 804.3 Million by 2024.
Digital pathology is the technique of analyzing high-resolution digitized histological images, which can then use calculation tools and algorithms. Digital pathology also provides an image-based information environment that allows computer technology to manage the information generated by digital transparency. The field of digital pathology and full transparency digital image evaluation (WSI) has seen a massive increase in recent years. The speed and complexity of the equipment have been improved and are providing a stable application platform for performing routine assessments and essential morphological characterization.
According to World Health Organization, only a few percentages of countries have pathology services that are available in public sectors, and Food and Drug Administration (FDA) has given clearance for Philips Digital Pathology as primary surgical pathology which is an advantage for Philips.
FDA has approved the first whole slide imaging system for digital pathology for making the pathologists read and make clinical diagnosis strictly from digital images. However, pathology plays a vital role in performing laboratory tests. The whole slide imaging system is inferior to the light microscope.
MARKET DRIVERS
Majorly factors like an increased focus on improving the workflow and demand for faster diagnostic tools for chronic diseases like cancer, growing old people population, and rising commonness of chronic disease is expected to boost up the growth of the global digital pathology market.
Additionally, the rise in the prevalence to promote quality services for poor people, advanced technology such as digital imaging, computerization, robotic light microscopy, and multiple fibre optics communications are further excelling the market growth. Furthermore, the increasing use of scanners in pathology labs and the launch of innovative products in the medical sector to promote better diagnostic procedures are also leveraging the demand of the global digital pathology market.
MARKET RESTRAINTS
In the present situation, reimbursements failures, scarcity of expert staff, and the reluctance of older pathologists to choose new technologies are hindering the growth of the digital pathology market. Insufficient infrastructure or equipment is also impeding the growth of this market.
MARKET OPPORTUNITIES
Growing initiatives for the commercial exploitation of profitable digital pathology systems are likely to provide growth opportunities for service providers during the forecast period.
Technological advancements and an increasing number of research and development operations in the field of digital pathology are to create benefits for the stakeholders in the market during the forecast period.
REPORT COVERAGE
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REPORT METRIC |
DETAILS |
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Market Size Available |
2018 – 2024 |
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Base Year |
2018 |
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Forecast Period |
2019 - 2024 |
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Segments Covered |
By Type, Product, Application, End-User, Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Perkin Elmer, Inc., Definiens AG, Sectra AB, Koninklijke Philips N.V, GE Healthcare, Inspirata Co, Ventana Medical Systems, Inc., Leica Biosystems, 3D-Histech Ltd, Hamamatsu Photonics and K.K., Digipath Co. |
This research report on the Global Digital Pathology Market has been segmented and sub-segmented into the following categories and analyzed market size & forecast for each segment until 2024.
Digital Pathology Market - By Type:
Based on type, the human pathology is contributing a significant share of revenues to the global market owing to the growing number of cancer research activities and the escalation of collaborations between university research institutes, universities and pathology laboratories.
Digital Pathology Market - By Product:
Based on product, the software segment is likely to witness the highest growth rate over the forecast period owing to the presence of user-friendly, and advanced diagnostic facilities.
Digital Pathology Market - By Application:
Based on application, the Tele-consultation segment is dominating the digital pathology market and is likely to grow further during the forecast period. The lack of pathologists in developing countries and the growing need for quality and rapid diagnosis are contributing to the growth of the digital pathology market.
Digital Pathology Market - By End Users:
Based on end-users, the pharmaceutical and biotechnology segment is leading the global market among the end-users and is likely to grow further during the forecast period owing to factors such as the implementation of digital pathology for biodiversity, biopharmaceutical studies and molecular analysis.
Regional Insights
North America is contributing the largest share to the global digital pathology market. It is expected to continue this trend during the forecast period due to the increasing adoption of digital pathology systems. Besides, other factors such as the availability of digital pathology products, the presence of the majority of key players are the catalyzing factors that are responsible for market growth in North America. Asia-Pacific will grow at a high rate during the forecast period owing to increased awareness of digital pathology systems, the presence of huge patient pool with chronic and infectious diseases and the rising expenditure of healthcare in the region.
Key industry participants in the Global Digital Pathology Market profiled in this report are:
Some of the key initiatives taken by the leading companies in the market in the recent past
Product Approvals
In April 2020, SectraCompany has received U.S. FDA clearance for 510(K) of digital pathology for the primary diagnostics. This digital pathology is used by the pathologists to sit at home and work without a microscope to get outcomes.
Product Launches
In Jan 2017, Perkin Elmer has launched a new Automated Quantitative Pathology Imaging System. This System is Vector Polaris which is to help scientists to research deep into the immune system and know about the cancer cells.
In March 2018, F. Hoffmann-La Roche AG, one of the leading players, has launched VENTANA DP. It is a high-speed slide scanner for pathology and produces images with high quality.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5.1 By Type
5.1.1 Human Digital Pathology
5.1.2 Animal Digital Pathology
5.2 By Product
5.2.1 Scanners
5.2.2 Software
5.2.3 Communication Systems
5.2.4 Storage Systems
5.3 By Application
5.3.1 Teleconsultation
5.3.2 Disease Diagnosis
5.3.3 Drug Discovery
5.3.4 Training and Education
5.4 By End User
5.4.1 Pharmaceutical Companies
5.4.2 Hospitals
5.4.3 Academic Institutes
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 France
6.2.4 Germany
6.2.5 Italy
6.2.6 Spain
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.3.6 Australia
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.1. Perkin Elmer, Inc.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2. Definiens AG
8.3. Sectra AB
8.4. Koninklijke Philips N.V
8.5. GE Healthcare
8.6. Inspirata Co.
8.7. Ventana Medical Systems, Inc.
8.8. Leica Biosystems
8.9. 3D-Histech Ltd
8.10. Hamamatsu Photonics, K.K.
8.11. Digipath Co.
8.12. ZEISS
8.13. Olympus Corporation
8.14. Yokogawa Electronic Corporation
8.15. Quorum Technologies Inc.
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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