By 2022, the global Digital Pathology Market is anticipated to reach US$6,199 Mn, according to Future Market Insights. The market for digital pathology goods and services will increase at a CAGR of 13.5% during the projected period, reaching US$ 22,870.2 Mn by 2032.
Digital pathology solutions are growing in popularity on the market as a result of technical advancements and the widespread use of electronic medical records in the healthcare industry. While on-premise systems will continue to dominate at US$ 626.8 Mn, cloud-based information systems are predicted to grow at a CAGR of 16.9% through 2032.
The increased use of advanced analytics in pharma and medical testing are two key factors boosting the digital pathology market’s adoption. Healthcare financing organizations and government bodies are implementing analytics through claim management and fraud prevention, which is fueling the market growth.
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Surge in R&D in Digital Pathology to Augment Sales in Forthcoming Years
In recent years, the digital pathology industry has increased investments in biosimilar research and development initiatives, primarily for cancer treatment and Covid-19 treatment, which have substantially fuelled the market expansion.
Contract Research Organizations (CROs), in-vitro diagnostics (IVD) laboratories, clinical laboratories, and regulatory consultants are being assigned biosimilar development responsibilities by pharmaceutical corporations. These enterprises are developing in order to provide more cost-efficient solutions to their customers, requiring the use of digital pathology instruments to diagnose, research, and design effective healthcare solutions.
Cancer diagnostic Opens New Avenues for Digital Pathology Companies
Due to the sheer increasing occurrence of cancer, there is an increase in spending on digital pathology equipment. Complications arising from late cancer diagnosis, particularly in the case of blood cancer and lung cancer, necessitate the use of significant capital resources during therapy and diagnosis. The success of digital pathology in research is driving demand for these systems in the cancer research industry. This is also encouraging government investors to invest in digital pathology systems for clinical diagnosis. A significant amount of money is spent on cancer diagnosis and therapy monitoring. This explains why digital pathology solutions are in high demand.
Competitive Landscape
Danaher Corporation
F. Hoffmann-La Roche AG
Huron Technologies International Inc.
Koninklijke Philips N.V.
Olympus Corporation
Hamamatsu Photonics K.K.
Carl Zeiss AG
Nikon Corporation
3DHISTECH Ltd.
Hologic Inc.
PerkinElmer, Inc.
Visiopharm
OptraSCAN, Inc.
Inspirata, Inc.
Sectra AB
Some of the recent developments in digital pathology market are as follows:
In May 2021, Leica Biosystems joined the European Society for Digital and Integrative Pathology (ESDIP) to assist pathology labs in developing laboratories in accordance with modern digital pathology instruments.
In March 2021, Roche inked a comprehensive merger agreement with GenMark Diagnostics to broaden its product and distribution channel for European consumers.
Key Segments Profiled in the Global Digital Pathology Market
Digital Pathology by Product Type:
Digital Pathology Equipment
Whole Slide Scanners
Brightfield Slide Scanners
Fluorescence Slide Scanners
Combination Slide Scanners
Clinical Microscope
Tissue Microarrays
Digital Pathology Software
Image Viewing and Analysis Software
On-premise
Cloud-based
Digital Pathology Information Systems
On-premise
Cloud-based
Digital Pathology Services
Installation and Integration Services
Consulting Services
Maintenance and Validation Services
Digital Pathology by Application:
Clinical Pathology
Molecular Diagnostics
Basic & Applied Research
Drug Development
Others
Digital Pathology by End User:
Hospitals
Diagnostic Laboratories
Pharmaceutical & Biotechnology Companies
Forensic Laboratories
Research Institutes
Contract Research Organizations (CROs)
Clinics