Adoption of Robotic Light Microscopy to Prompt Digital Pathology Market Expansion
Digital Pathology Market Research Report, By Type (Human Pathology, Animal Pathology), By Product (Hardware, Software, Storage), By Application (Telemedicine, Drug Discovery, Disease Diagnosis, mhealth) and By End-user (Hospitals & Clinics, Research Centers & Academic Institutes, Diagnostic Centers) – Global Forecast till 2028
Market Scope
Market Research Future (MRFR) studied the global digital pathology market 2021 for the review period till 2023. As per MRFR study, the global digital pathology market is expected to register 13.04% CAGR and the market value is expected to reach USD 8.30 Billion by 2023.
Drivers and Restrains Impacting Digital Pathology Market
The surging awarness about benefits of digital pathology and their high rate of adoption in the healthcare sector are expected to support the growth of market. The availability of expertise for digital pathology is observed to influence the purchase decision of at hospitals and clinics, which, in turn, can support the upsurge of the digital pathology market in the analysis period. Moreover, the rapid adoption of automated digital pathology process to expedite workflow, along with technological improvements in image analysis software can contribute to the expansion of the digital pathology market over the review tenure.
Advances in the digital pathology system, such as, robotic light microscopy, digital imaging, and fibre optic communications among others, can add to momentum to the expansion of the global market of digital pathology. The introduction of efficient laboratory tools for better diagnostic decisions is also likely to prompt the digital pathology market over the analysis tenure. On the contrary, high cost of such modern procedure resulting in a decline in its adoption can hinder the digital pathology market rise.
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Segment Study of Digital Pathology Market
The segment study of the digital pathology market that is conducted by MRFR is based on type, application, product, and end-user.
The type-based segments of the digital pathology market are Human Pathology and Animal Pathology. The segment of human pathology is expected to secure almost 65 % of the overall market. The increasing need for human pathology as chronic diseases prevail, the human pathology segment can garner revenue of around USD 5.47 Bn by 2023.
The product-based segments of the digital pathology market are Storage, Hardware, and Software. The segment of hardware is expected to earn USD 6.03 billion by 2023 owing to the increasing adoption of smart hardware solutions.
The application-based segments of the digital pathology market are Drug Discovery, Telemedicine, Disease Detection, and mhealth. The segment of disease detection market lead is provided by the introduction of technologies in disease detection, and the segment will hit a value of USD 2.65 billion by the end of the review period.
The end-user-based segments of the digital pathology market are Research Centers & Academic Institutes, Hospitals & Clinics, and Diagnostic Centers. The adoption of modern diagnostic technology by academic institutes and research centres that empowers them to access diseases in detail is expected to prompt the digital pathology market rise. According to MRFR data, the research center segment is likely to value USD 3.77 Bn by 2023.
Regional Analysis of Digital Pathology Market
The growing prevalence of chronic ailments, increase healthcare spending, and growing preference for new technology across organizations that are heavily engaged in pathological research is expected to favor the digital pathology market in North America. In Europe, similar growth inducers of the digital pathology market is observed, along with the residence of reputed companies that deal in digital pathology can add to the rise of EU digital pathology market. In the APAC region, the digital pathology market is anticipated to expand at around 13.53 % CAGR in the assessment period. The rapid growth of the digital pathology industry can be attributed to the ever-growing healthcare sector and the rise in number of patients in countries with dense population that seek effective diagnostic solutions. Moreover, China, India, and Thailand, identified as effective spots for medical tourism can contribute to the upsurge of APAC digital pathology market.
Competitive Landscape of Digital Pathology Market
3DHISTECH Ltd. (Hungary), Inspirata (U.S.), Olympus Corporation (Japan), Danaher Corporation (Leica Biosystems GmbH) (U.S.), Huron Digital Pathology Inc. (Canada), Koninklijke Philips N.V. (The Netherlands), microdimensions GmbH (Germany), Mikroscan Technologies, Inc. (U.S.), Hoffmann-La Roche Ltd. (Switzerland), and Definiens (Germany) are some key players in the digital pathology market that are enlisted by MRFR.
The market of digital pathology industry distinguished by the presence of several well-established companies, along with some small players. The global digital pathology market continues to evolve as a highly competitive market. In developing regions, global key players are observed strive for expanding their global presence, placing pressure on local players, in terms of form, pricing, and product portfolios.
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