The digital pathology market is anticipated to reach US$6,199 Million, according to Future Market Insights. The market for digital pathology goods and services will increase at a CAGR of 13.5% during the projected period, reaching US$ 22,870.2 Million 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 Million, cloud-based information systems are predicted to grow at a CAGR of 16.9% through 2032.
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A number of modern hospitals are installing newly modified digital pathology systems for their laboratories which has widened the consumer base of the market globally. Manufacturers of digital pathology solutions are constantly making changes in software, to enhance the capabilities and efficacies of digital pathology devices.
This development will provide easy access to information such as images, and will also cater to specialized needs. In 2017, Glencoe Software Inc., launched a software named Path Viewer, which is used in interactive viewing and annotation of digital pathology images.
In Jan 2018, Definiens AG released Tissue Studio 4.2 software package. The updated product suite provided improved image analysis for researchers in academic medical laboratories, comprehensive cancer diagnostic and treatment centers, biotechnology, and pharmaceutical companies.
Key Takeaways of Digital Pathology Market Study
- Digital pathology equipment is anticipated to increase at a CAGR of 13.7% over 2021-2031, to reach US$ 12.94 Bn by 2031, aided by growing investments by hospitals and laboratories.
- The clinical pathology and molecular diagnostics segment collectively have gained more than 50% of the market share in terms of revenue owing to use for a wider scope of ailments.
- CROs are estimated to display high growth potential at a CAGR of 19.0% in the forecast period owing to cost benefits to end users.
- Canada is reflecting high potential for growth with a 14.2% CAGR, driven by the expansion of urban centers and investments into healthcare facilities.
- The U.K. will account for over 24% of the Europe value share, surpassing Germany by 2031, owing to increases in healthcare research spending.
“Growing research and development initiatives aimed towards cancer diagnosis and treatment are key factors expected to provide major growth opportunities for the digital pathology market through the end of 2031,” says the FMI Analyst.
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Who is Winning? Leading players in the market are largely focused on product development launches in addition to investing in strategic acquisitions and capacity expansions, to explore previously untapped markets.
Some the digital pathology companies in the market are
- Danaher Corporation,
- Hoffmann-La Roche AG
- Huron Technologies International Inc.
- Koninklijke Philips N.V.
- Olympus Corporation
- Hamamatsu Photonics K.K.
- Carl Zeiss
- 3D HISTECH Ltd.
Want more insights? Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2029. The study provides compelling insights on digital pathology market on basis of component type (systems, software, and services), application (clinical pathology, molecular diagnostics, basic & applied research, drug development, others) and end users (hospitals, diagnostic laboratories, pharmaceutical & biotechnology companies, forensic laboratories, research institutes, contract research organizations, and clinics across seven major regions.
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Key Segment By Product Type:
- Equipment
- Whole Slide Scanners
- Brightfield Slide Scanners
- Fluorescence Slide Scanners
- Combination Slide Scanners
- Clinical Microscope
- Tissue Microarrays
- Whole Slide Scanners
- Softwares
- Image Viewing and Analysis Softwares
- On-premise
- Cloud-based
- Digital Pathology Information Systems
- On-premise
- Cloud-based
- Image Viewing and Analysis Softwares
- Services
- Installation and Integration Services
- Consulting Services
- Maintenance and Validation Services
By Application:
- Clinical Patholog
- Molecular Diagnostics
- Basic & Applied Research
- Drug Development
- Others
End-User:
- Hospitals
- Diagnostic Laboratories
- Pharmaceutical & Biotechnology Companies
- Forensic Laboratories
- Research Institutes
- Contract Research Organizations (CROs)
- Clinics
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