Increasing adoption of digital pathology to enhance lab efficiency is driving market revenue growth.
Increasing adoption of digital pathology to enhance lab efficiency is driving market revenue growth
The global digital pathology market size is expected to reach USD 2,234.9 Million in 2030 and register a revenue CAGR of 13.2% over the forecast period, according to the latest report by Reports and Data. Increasing incidence of cancer and growing application of digital pathology in drug development and companion diagnostics is driving digital pathology market revenue growth.
In a digital environment, digital pathology entails the capture, management, exchange, and interpretation of pathology information, such as slides and data. When glass slides are scanned with a scanning instrument, a high-resolution digital image is produced, that may be viewed on a computer screen or mobile device. Rise in prevalence of cardiovascular diseases is the driving force behind the development of new diagnostic solutions. Increase in frequency of chronic and cardiovascular diseases rises leads to a rise in demand for digital pathology systems, driving digital pathology market growth forward.
Rise in demand for accurate diagnoses as well as increased investment in development of innovative digital pathology systems by different companies, is driving global digital pathology market revenue growth. Chronic illnesses have been linked to a higher death rate. As the frequency of chronic and cardiovascular illnesses rise, so does the need for digital pathology systems, driving digital pathology market revenue growth.
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However, there is an imbalance between supply and demand for pathologists around the world, particularly in Africa and Asia Pacific. Pathologists are vital for completing laboratory tests that are necessary for illness diagnosis. Medical practitioners can securely and timely share essential information with pathologists via digital pathology across geographical borders. Furthermore, emerging technologies such as Artificial Intelligence (AI) and Machine Learning (ML) assist pathologists in identifying diseases more quickly and improving their effectiveness. As a result of the critical scarcity of pathologists, digital pathology is predicted to be used more frequently to provide remote pathological consulting and services in regions such as Africa and APAC.
Some Key Highlights From the Report
- On 2nd September 2021, Visiopharm (Denmark) and Agilent Technologies, Inc. (US) collaborated to co-market Visiopharm’s portfolio of CE-IVD marked AI-driven Precision Pathology software and Agilent’s automated pathology staining solutions portfolio. The alliance will address the unmet requirements of pathology laboratories throughout the world, based on a shared vision of end-to-end quality and standardization of tissue diagnostics. The firms’ common objective is to develop technology, products, and services that will improve pathology lab uniformity and speed up to correct diagnosis.
- Scanner segment accounted for largest revenue share in 2021. Cloud-enabled digital pathology scanners offer the most flexibility for storing, archiving, and managing digital pictures and metadata which in turn is driving revenue growth of the segment.
- Human pathology segment accounted for largest revenue share in 2021. Digital pathology allows for more accurate analysis. It includes methods for automatic slide analysis that are objective, quick, and precise. It also gives scientists fast access to previously linked instances, serves as information storage for long-term predictive analytics, and it helps doctors to detect major diseases such as tumors more efficiently and accurately.
- Drug discovery segment accounted for largest revenue share in 2021. Drug development improvements in digital pathology are enhancing the therapy possibilities for a number of disorders. With greater time and data, gathering, analyzing, and sharing information becomes easier, resulting in more effective, high-quality, focused research all over the world driving the segment revenue growth.
- Hospital segment accounted for largest revenue share in 2021 as a result of the huge number of medical procedures and operations performed in hospitals. Most hospitals have accessibility to well-defined organ databases, which could be used to verify the supply of requested organs, allowing for quicker medical action which is driving revenue growth of the segment.
- Market in North America accounted for the largest revenue share in 2021. Development and innovation in digital pathology products and presence of several biotechnologies and medical product industries, as well as advanced healthcare facilities, are driving revenue growth of the digital pathology market in this region.
- Companies profiled in the global market report include Leica Biosystems Nussloch GmbH, Hamamatsu Photonics K.K., F. Hoffmann-La Roche Ltd., 3DHISTECH Ltd., Apollo Enterprise Imaging Corp., XIFIN, Inc., Huron Technologies International Inc., Visiopharm A/S, Aiforia Technologies, and Akoya Biosciences, Inc.
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For the purpose of this report, Reports and Data has segmented digital pathology market based on product, type, application, end-use, and region:
Product Outlook (Revenue, USD Billion; 2019–2030)
- Scanners
- Software
- Integrated software
- Standalone software
- Storage Solution
Type Outlook (Revenue, USD Billion; 2019–2030)
- Human Pathology
- Veterinary Pathology
Application Outlook (Revenue, USD Billion; 2019–2030)
- Drug Discovery
- Disease Diagnosis
- Training & Education
End-use Outlook (Revenue, USD Billion; 2019–2030)
- Academic & Research Institutes
- Hospitals & Reference Laboratories
- Pharmaceutical & Biotechnology Companies
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Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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Some points on how the report benefits stakeholders:
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- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2019 and 2030.
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- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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