Overview
The digital pathology market is projected to grow by US$8.30 Billion by 2023 rapidly at a CAGR of 4.50% throughout the forecast period 2021 to 2027. Speedy technological advances as well as automation integration drive the global digital pathology market. These key growth drivers have incredibly helped the digital pathology market and are estimated to boost the growth. Analysts studying the digital pathology market have also shared growth projections in the digital pathology market research report and have suggested digital pathology market-based companies to develop growth strategies. Significant costare the challenges that companies across the digital pathology market could face. Spanning across many regions around the world, the details covered in the digital pathology market report cover all the aspects of the industry.
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Market Segmentation:
The global digital pathology market is segmented on the basis of type, product, application, and end-users. Based on type, the global digital pathology market is segmented into human pathology and animal pathology. The human pathology segment commands for the major share of 65% in the global digital pathology market due to the high prevalence of chronic diseases among humans. This segment is projected to reach the valuation of USD 5,475.4 Mn by the end of 2023. Based on product, the global digital pathology market has been segmented into hardware, software, and storage. The hardware segment commands for the maximum share of the global digital pathology market and is anticipated to reach the valuation of USD 6,031.9 Mn by the end of 2023.
Based on application, the global digital pathology market is segmented into disease diagnosis, Mhealth, drug discovery, and telemedicine. The disease diagnosis segment is leading the global digital pathology market with the valuation of USD 2,650 Mn by the end of the forecast period. Based on end-users, the global digital pathology market has been segmented into hospital & clinic, diagnostic centers, and research centers & academic institutes. The research centers and academic institutes segment is expanding at the fastest growth rate in the global digital pathology market and is anticipated to reach the valuation of USD 3,778.4 Mn by the end of the assessment period.
Regional Analysis
The key markets of the global digital pathology market include North America, Europe, Asia Pacific and the Middle East & Africa. The global digital pathology market is dominated by North America owing to the prevalence of chronic diseases and technologically advanced healthcare sector in the region. Europe is the second largest market for digital pathology due to the presence of a robust healthcare sector and increased expenditure on healthcare facilities. Asia Pacific is expected to be the fastest growing market on account of improvements in the healthcare sector, rising healthcare expenditure, and growing awareness. The Middle East & Africa market is projected to exhibit steady growth over the forecast period.
Industry News
Paige raised $100 million for additional support in order to accelerate the production of biomarkers as a therapeutic product, following two approvals last month for their artificial intelligence platforms for cancer pathology. Casdin Capital and Johnson & Johnson Innovation, a strategic venture capital arm of the pharmaceutical industry, led this New York-based company's C round.
Competitive Landscape
The global digital pathology market is fragmented and highly competitive with the presence of a multitude of well-established and small players. Owing to the lucrative growth opportunities offered by the market, there has been an influx of new players which further intensifies the competition. The notable players of the global digital pathology market include microDimensions GmbH, Q2 Solutions, LLC, Philips Healthcare, ViewsIQ Inc., Apollo Enterprise Imaging Corp., Definiens, Mikroscan Technologies, Inc., Omnyx, GE Healthcare, Huron Digital Pathology Inc, 3DHISTECH Ltd, Xifin, Inc., and others.
1 Report Prologue
2 Executive Summary
3 Market Introduction
3.1 Definition 18
3.2 Scope of the Study 18
3.3 Assumptions & Limitations 18
3.3.1 Assumptions 18
3.3.2 Limitations 18
3.4 Market Structure 19
4 Research Methodology
4.1 Research Process 21
4.2 Primary Research 22
4.3 Secondary Research 23
4.4 Market Size Estimation 24
4.5 Forecast Model 24
5 Market Dynamics
5.1 Introduction 26
5.2 Drivers 27
5.2.1 Increasing Use of Pathological Microscopes in Drug Discovery 27
5.2.2 Rising Prevalence of Chronic and Infectious Diseases 27
5.2.3 Increasing Automation in Laboratories 27
5.2.4 Growth in the Number of Public and Private Diagnostic Centers 27
5.3 Restraints 28
5.3.1 Unfavorable Reimbursement Policies 28
5.3.2 High Cost Associated With Microscopes 28
5.4 Opportunity 28
5.4.1 Increasing Use of Telepathology and Telemedicine 28
5.5 Challenges 28
5.5.1 Time-Consuming Sample Preparation Process 28
5.5.2 Requirement of a High Degree of Technical Expertise 29
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