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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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches, brand promotions, and corporate deals, among others.
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The Digital Pathology market takes into account major geographical locations such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa to offer key insights into market growth, market size, market share, revenue growth, current and emerging trends, supply and demand ratio, import/export, consumer demand and behavior, and presence of key players in each region. The report offers an in-depth country wise analysis to impart better understanding of the market and its growth prospects.
Segments Covered in the report
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
Key Regions Analyzed in the Report include:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- 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
- U.A.E.
- South Africa
- Rest of MEA
Furthermore, it consists information about individual segment of the Digital Pathology market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values for each segment to provide clear understanding of demand and trend in the global market.
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.
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