The global digital pathology market size is projected to value USD 898.3 million by 2026 from USD 517.5 million in 2021, growing at a CAGR of 11.66%, during the forecast period. Geographically, North America was the largest regional market that accounted for most of the global digital pathology market share among all the regions.
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 countries have pathology services available in public sectors. Food and Drug Administration (FDA) has given Philips Digital Pathology clearance as primary surgical pathology, advantageous for Philips. The FDA has approved the first whole slide imaging system for digital pathology to make the pathologists read and make clinical diagnoses 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:
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 drive the global digital pathology market growth.
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 fiber 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 also leverage the demand of the global digital pathology market.
Growing initiatives for the commercial exploitation of profitable digital pathology systems are likely to provide service providers growth opportunities during the forecast period. Technological advancements and an increasing number of research and development operations in digital pathology create benefits for the stakeholders in the market during the forecast period.
MARKET RESTRAINTS:
In the present situation, reimbursements failures, scarcity of expert staff, and the reluctance of older pathologists to choose new technologies hinder the growth of the digital pathology market. Insufficient infrastructure or equipment is also impeding the growth of this market.
COVID-19 Impact on the global digital pathology market:
COVID 19 outbreak has set new challenges for the market key players. The pandemic has impacted positively on digital pathology services. Digital pathology is playing a vital role in providing safeguarding clinical services to patients. Also, in the current situation, pathology-based research has a profound impact on market shares. The digital pathology approaches are a new diagnosis procedure that evaluates surgical pathology slides from the formalin-fixed paraffin-embedded tissue (FFPE). In the peak time of the COVID 19 pandemic, the researchers have found great digital pathology approaches in contacting the patients without the need to direct contact. The US Food and Drug Administration (FDA) has approved Philips IntelliSite Pathology Solution to readily these consumer monitors. Also, FDA has approved other digital pathology solutions for the emergency use of COVID 19 cases. By 2021, the market shares are to hit the highest CAGR.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2020 to 2026 |
|
Base Year |
2020 |
|
Forecast Period |
2021 to 2026 |
|
Segments Covered |
By Type, Product, Application, End-User, and Region |
|
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 |
|
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This research report on the global digital pathology market has been segmented and sub-segmented based on the type, product, application, end-user, and region.
Digital Pathology Market - By Type:
Based on type, human pathology contributes a significant share of revenues to the global market due 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 scanners segment was the market leader in 2020. The significant adoption of digital pathology solutions in various parts of the world is majorly accelerating the growth rate of the market. The software segment is likely to witness the highest growth rate over the forecast period due to 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 contribute to the growth of the digital pathology market.
Digital Pathology Market - By End Users:
Based on end-users, the pharmaceutical and biotechnology segment leads the global market among the end-users. It is likely to grow further during the forecast period due to implementing digital pathology for biodiversity, biopharmaceutical studies, and molecular analysis.
Digital Pathology Market - By Region:
Geographically, the North American digital pathology market contributes 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, most key players are the catalyzing factors responsible for market growth in North America. Highly developed North American countries such as the United States and Canada provide a significant boost to this regional market and be the primary reason behind North America’s leading spot.
The European digital pathology market is forecasted to be growing at a CAGR of 10% during the forecast period. Growing cancer incidence and increasing adoption of teleconsultations in this region are primarily driving this regional market. The UK, followed by Germany, is expected to lead this regional market during the forecast period.
The digital pathology market in the Asia-Pacific will grow at a high rate during the forecast period due to increased awareness of digital pathology systems, a huge patient pool with chronic and infectious diseases, and the rising healthcare expenditure in the region.
NOTABLE COMPANIES IN THE MARKET:
Key industry participants in the Global Digital Pathology Market profiled in this report are 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.
RECENT HAPPENINGS IN THE DIGITAL PATHOLOGY MARKET:
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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