As per our analysis report, the global digital pathology market size is projected to value USD 898.3 million by 2027 from USD 517.5 million in 2022, growing at a CAGR of 11.66% during the forecast period. 3DHistech Ltd, Mikroscan Technologies Inc., Nikon Corporation, Hamamatsu Photonics KK, Leica Biosystems Nussloch GmbH are a few of the significant market participants and accounted for a significant digital pathology market share in 2020.
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. As a result, the speed and complexity of the equipment have been improved and provide 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, the growing old population, and the rising prevalence of chronic disease are 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.
Y-O-Y growth in cancer incidence across the world is expected to boost the global digital pathology market growth.
According to the statistics published by the World Health Organization (WHO), approximately 10 million deaths were happened due to cancer worldwide in 2020 and were the leading cause of death. Among various kinds, breast, lung, prostate, colon, and rectum are the most common cancer types.
Growing initiatives for the commercial exploitation of profitable digital pathology systems are likely to provide service providers growth opportunities during the forecast period. In addition, technological advancements and an increasing number of research and development operations in digital pathology create benefits for the market participants 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. In addition, insufficient infrastructure or equipment is also impeding the development of this market.
COVID-19 Impact on the global digital pathology market:
COVID 19 outbreak has set new challenges for key market players, and the pandemic has positively impacted digital pathology services. Digital pathology plays a vital role in providing safeguarding clinical services to patients. Also, pathology-based research has a profound impact on market shares in the current situation. 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 direct contact. The U.S. 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. With the acceleration generated by COVD-19, the global digital pathology market is further estimated to grow at a much better growth rate during the forecast period.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2021 to 2027 |
|
Base Year |
2021 |
|
Forecast Period |
2022 to 2027 |
|
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, the human pathology segment accounted for the most significant share in the global market in 2020 and is forecasted to register the most dominating share during the forecast period 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 the product, the scanners segment was the market leader in 2020. The significant adoption of digital pathology solutions in various parts of the world is accelerating the market's growth rate.
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 teleconsultation segment is predicted to lead the global 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.
On the other hand, the drug discovery segment is expected to register the fastest growth rate during the forecast due to the increased availability of funding for research and development.
Digital Pathology Market - By End Users:
The pharmaceutical and biotechnology segment leads the global market during the forecast period based on 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 is estimated to contribute the largest share to the global digital pathology market during the forecast period. It is expected to continue this trend throughout 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. Rising 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 is forecasted to grow at a high rate during the forecast period due to increased awareness of digital pathology systems, a vast patient pool with chronic and infectious diseases, and the rising healthcare expenditure in the region.
The Latin American digital pathology market is expected to showcase a CAGR of 10.09% during the forecast period. Brazil, followed by Mexico, are expected to play a key role in this regional market.
The digital pathology market in the Middle East and Africa is yet to gain its full potential and is estimated to grow at a growth rate of 10.06% from 2021 to 2026.
NOTABLE COMPANIES IN THE MARKET:
A few of the noteworthy companies operating 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
FAQ's
The global digital pathology market size is estimated to grow USD 898.3 million by 2027.
Yes, we have included the impact of COVID-19 on the global digital pathology market in this report.
From 2022 to 2027, the North American region is forecasted to lead the digital pathology market. However, the APAC region is estimated to showcase the fastest growth rate during the forecast period.
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. are a few of the companies playing a leading role in the global digital pathology market.
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