Jersey City, NJ, March 23, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Digital Pathology Market Size, Share & Trends Analysis Report By Product (Artificial Intelligence, Scanner, Software, Storage), Type (Human, Veterinary), Application (Teleconsultation, Training, Disease Diagnosis, Drug Discovery), End User (Pharma, Academia, Hospitals)- Market Outlook And Industry Analysis 2031"
The global digital pathology market is estimated to reach over USD 2731.95 million by 2031, exhibiting a CAGR of 12.91% during the forecast period.
The growing prevalence of cancer, the expanding use of digital pathology in pharmaceutical research and online as part, and the increasing acceptance of digital pathology to improve lab efficiency are the primary drivers of the market's growth. The essential source for developing advanced diagnostic solutions is the rise prevalence of cardiovascular disorders. Thus, the need for digital pathology systems increases and is driving the growth of the digital pathology market during the forecast period. Moreover, the advancement in technologies such as computerization, robotic light microscopy, and multiple fiber optic communications are important key factors projected to increase the adoption of digital pathology in the years to come.
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The introduction of affordable scanners and the propensity of small players to move towards digitization of pathology workflow is fueling the market's growth over the upcoming years. Additionally, the launch of cloud-based technology allows the storage of digital slides associated with protected access to pathologists, which is predicted to contribute to the potential growth of the digital pathology market in the coming years. However, the high cost of these systems, coupled with the challenge of a shortage of skilled personnel to operate digital pathology systems, is expected to limit the adoption of these systems.
Recent Developments:
• In March 2022-Ion Torrent Genexus Dx Integrated Sequencer, an automated next-generation sequencing (NGS) platform for use in clinical laboratories and to conduct diagnostic and clinical research, was introduced by Thermo Fisher Scientific, Inc. with the CE-IVD marking.
• In April 2022-A contract between the Catalan Health Institute and 3DHISTECH Ltd. was signed. This plan was implemented to introduce digital pathology tools across an eight-hospital network.
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List of Prominent Players in the Digital Pathology Market:
• Biosystems (US)
• Koninklijke Philips N.V. (Netherlands)
• Hamamatsu Photonics (Japan)
• F. Hoffmann-La Roche Ltd. (Switzerland)
• 3DHISTECH (Hungary)
• Apollo Enterprise Imaging (US)
• XIFIN, Inc. (US)
• Huron Digital Pathology (Canada)
• Visiopharm A/S (Denmark)
• Aiforia Technologies Oy (Finland)
• Akoya Biosciences (US)
• Corista (US)
• Indica Labs (US)
• Objective Pathology Services (Canada)
• Sectra AB (Sweden)
• OptraSCAN (US)
• Glencoe Software (US)
• KONFOONG BIOTECH INTERNATIONAL CO., LTD. (China)
• Inspirata, Inc. (US)
• PathAI (US)
• Proscia Inc. (US)
• Kanteron Systems (Spain)
• Mikroscan Technologies (US)
• Motic (US)
• Paige (US)
Digital Pathology Market Report Scope:
| Report Attribute | Specifications |
| Market size value in 2022 | USD 935.92 Mn |
| Revenue forecast in 2031 | USD 2731.95 Mn |
| Growth rate CAGR | CAGR of 12.91% from 2023 to 2031 |
| Quantitative units | Representation of revenue in US$ Million, and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | Product, Type, Application And End Users |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
Market Dynamics:
Drivers-
The success of digital pathology in research is driving the demand for these systems from the cancer research sector. This also attracts government investors to invest in digital pathology systems for clinical diagnostics applications. Technological advancements such as computerization, robotic light microscopy, and multiple fiber optic communications are important key factors projected to increase the adoption of {{keyword}} in the future.
Great-throughput technologies for drug discovery are also in high demand, which could help the device catch on. The adoption of pathological digitization may also increase demand for the services. These elements could fuel market expansion for digital pathology.
Challenges:
Inhibitors to market expansion over the forecast period include strict regulatory concerns for primary diagnosis and a lack of uniform norms for digital pathology. Inhibitors to market expansion over the forecast period include strict regulatory concerns for primary diagnosis and a lack of uniform norms for digital pathology.
The deployment of these devices is anticipated to be constrained by their high cost and the difficulty of finding qualified individuals to operate digital pathology devices.
Regional Trends:
North America has a mature market for digital pathology products in the field of marketing during the forecast period. The growing prevalence of cancer, the expanding use of digital pathology in pharmaceutical research and online as part, and the ever-increasing acceptance of digital pathology to improve lab efficiency are the primary drivers of the market's growth. Besides, Europe had a substantial share of the digital pathology market.
The need for digital pathology increased as customers' preferences for digital tools increased. Additionally, expanding the use of products with advanced technology is likely to support market expansion.
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Segmentation of Digital Pathology Market-
By Product
- Scanners
- Brightfield
- Other Scanners
- Software
- Integrated Software
- Standalone Software
- Information Management Software
- Image Analysis Software
- Storage Systems
By Type
- Human Pathology
- Veterinary Pathology
By Application
- Drug Discovery
- Disease Diagnosis
- Training & Education
By End User
- Pharmaceutical & Biotechnology Companies
- Hospitals and Reference Laboratories
- Academic & Research Institutes
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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