Digital Pathology Market - Forecast (2022 - 2027)

Manideep Moluguri

214
views

Digital Pathology Market - Forecast (2022 - 2027)

The Digital Pathology Market size was estimated at $685.43 billion in 2020, growing at a CAGR of 8.2% during the forecast period 2021-2026.

Digital Pathology Market Report

The Digital Pathology Market size was estimated at $685.43 billion in 2020, growing at a CAGR of 8.2% during the forecast period 2021-2026. Digital pathology encompasses the collecting, management, exchange, and interpretation of pathology data, including slides and data, in a digital setting. Scanning is used to capture digital pathology images, and robotic microscopy can be used to get whole slide imaging / virtual microscopy on an entire histological (microscopic) glass slide. 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. The increasing adoption of digital pathology to improve lab efficiency, the rising prevalence of cancer, and the growing application of digital pathology in drug development and companion diagnostics, as well as the reduction of high costs associated with conventional diagnostics, are all contributing to the market's growth. However, in the approaching years, a scarcity of qualified pathologists is projected to stifle market expansion for the period 2021-2026.

Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=16354

Report Coverage

The report : “Digital Pathology Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Digital Pathology Market.

By Product : Scanner, Software, Communication Systems, and Storage system.

By Type : Human Pathology and Veterinary Pathology.

By Application : Drug Discovery, Disease Diagnosis, Teleconsultation, and Training & Education.

By End User : Pharmaceutical & Biotechnology Companies, Hospitals, and Reference Laboratories, and Academic & Research Institutes.

By Geography : North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (the Middle East, and Africa).

Key Takeaways

North America region dominated the Digital Pathology Market in 2020 and it is estimated to account for 38% of the total market share.
Technological advancement in Digital Pathology along with the growing application of digital pathology in drug development and companion diagnostics is set to aid the market growth.
The study conducted will give a detailed analysis of the main players functioning in the Digital Pathology Market's Strengths, Weaknesses, and Opportunities.

Request Sample @ https://www.industryarc.com/pdfdownload.php?id=16354

Digital Pathology Market Segment Analysis – By Application

Based on the Application, the market for Digital Pathology is categorized as Drug Discovery, Disease Diagnosis, Tele-consultation, and Training & Education. In 2020, the Drug Discovery segment dominated the digital pathology market, accounting for the greatest revenue share. This expansion is owing to the expansion in R&D expenditure, spurred by the requirement for numerous preclinical and clinical studies undertaken during the drug discovery and development process.

However owing to the rising prevalence of chronic diseases, the disease diagnosis sector is predicted to grow at the quickest rate of 9.8% throughout the projection period. Furthermore, manufacturers focus on the development of unique and speedy diagnostic techniques. Digital technologies make it easier to transfer information between departments and improve each step of the diagnostic process.

Digital Pathology Market Segment Analysis – By End User

Based on the End User, the market for Digital Pathology is categorized into Pharmaceutical & Biotechnology Companies, Hospitals and Reference Laboratories, and Academic & Research Institutes. In 2020, the pharmaceutical and biotechnology firms sector led the worldwide digital pathology market with the biggest share. The growing use of digital pathology for drug discovery research and drug toxicology testing can be linked to this segment's size. However, the hospitals and Reference Laboratories segment is anticipated to develop at the quickest CAGR of 10.4% in 2020, owing to the growing adoption of those strategies. Hospitals are adopting virtual scanning strategies for quicker analysis and higher affected person compliance.

Digital Pathology Market Segment Analysis – By Geography

North America dominated the digital pathology marketplace and held the biggest sales proportion of over 38% in 2020. Continual deployment of R&D investments, supportive authorities projects referring to the improvement of technologically superior systems, growing adoption of virtual imaging, and the presence of principal companies are the top factors contributing to this dominance. Increased use of digital pathology for disease detection, combined with advantageous reimbursement rules in the United States, is predicted to stimulate regional expansion by enhancing the quality of cancer diagnosis.

However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the rising prevalence of cancer, which affects a huge population. Demand is also expected to be fueled by a growing desire for novel treatment options, enhanced patient care facilities, and decreasing laboratory prices.

Digital Pathology Market Drivers

Improve lab efficiency and rising cases of COVID are increasing the adoption of digital pathology techniques

By lowering costs, shortening turnaround times, and providing users with subject-matter expertise, digital pathology aids lab efficiency. Patients and clinicians rely on lab data for diagnostic decisions, therefore improvements in lab efficiency are crucial. Additionally, the web-based access to digitized slides minimizes shipping expenses and pathologists' travel time as a result diagnostic tests are conducted and reported swiftly and accurately.

Lockdowns and social distance restrictions have been implemented as a result of the COVID-19 epidemic. As a result of these constraints, demand for digital pathology technologies has increased, which allows pathologists to assess diagnostic results remotely for primary diagnosis. A considerable number of pathologists and pathology labs are using digital pathology in order to obtain a competitive advantage and provide speedy services

Digital Pathology Market Challenges

High Cost of the technique coupled with the scarcity of qualified individuals in pathology technique

Despite the fact that large hospitals with large capital budgets may purchase these technologies, pathologists and academic institutes with limited funds or IT assistance sometimes cannot afford as the cost of systems ranges from $1,00,000 to $5,00,000. It is highly expensive to implement because it comprises a number of linked technologies such as scanners, computers, pathologists' workstations, and medical displays. Additionally, pathologists are vital in completing laboratory tests however, there is currently a mismatch between supply and demand for pathologists around the world, particularly in the Asia Pacific and Africa. As a result the higher expense of these systems, along with a scarcity of qualified individuals to operate digital pathology equipment, is predicted to limit their use.

Digital Pathology Market Landscape

Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Digital Pathology Market. In 2020, the Digital Pathology Market share was consolidated by the top ten players present in the market. The Digital Pathology Market, top 10 companies include:

Danaher
Hamamatsu Photonics, Inc.
Koninklijke Philips N.V.
Olympus Corporation
F. Hoffmann-La Roche Ltd.
Mikroscan Technologies
Inspirata, Inc.
Visiopharm A/S
Huron Digital Pathology
3DHISTECH Ltd.

BUY NOW @ https://www.industryarc.com/purchasereport.php?id=16354

Acquisitions/Developments:

In August 2020, Danaher debuted Aperio GT 450 DX in Europe, and this device was launched in the Asia Pacific in May. Scanner Aperio GT 450 DX combines exceptional image quality and speedy scanning by combining proprietary real-time focusing with custom-designed Leica objectives. This ground-breaking technology enables laboratories to scale up digital pathology for routine diagnoses at high throughput.
In January 2020, Roche has released its cutting-edge uPath enterprise software for digital pathology. The uPath enterprise software builds on the previous version, known as VENTANA Virtuoso, by offering a new standard of customisation for pathological workflows. The uPath software improves the user experience by substantially reducing image rendering times, including automated image analysis, and increasing efficiency by allowing pathologists to share cases more easily.