Overview
The digitalpathology market is projected to grow by US$8.30 Billion by 2023 rapidly ata CAGR of 4.50% throughout the forecast period 2021 to 2027. Speedytechnological advances as well as automation integration drive the globaldigital pathology market. These key growth drivers have incredibly helped thedigital pathology market and are estimated to boost the growth. Analystsstudying the digital pathology market have also shared growth projections inthe digital pathology market research report and have suggested digitalpathology market-based companies to develop growth strategies. Significantcostare the challenges that companies across the digital pathology market couldface. Spanning across many regions around the world, the details covered in thedigital 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 digitalpathology market is segmented into human pathology and animal pathology. Thehuman pathology segment commands for the major share of 65% in the globaldigital pathology market due to the high prevalence of chronic diseases amonghumans. This segment is projected to reach the valuation of USD 5,475.4 Mn bythe end of 2023. Based on product, the global digital pathology market has beensegmented into hardware, software, and storage. The hardware segment commandsfor the maximum share of the global digital pathology market and is anticipatedto reach the valuation of USD 6,031.9 Mn by the end of 2023.
Based on application, the global digital pathology market is segmented intodisease diagnosis, Mhealth, drug discovery, and telemedicine. The diseasediagnosis segment is leading the global digital pathology market with thevaluation of USD 2,650 Mn by the end of the forecast period. Based onend-users, the global digital pathology market has been segmented into hospital& clinic, diagnostic centers, and research centers & academicinstitutes. The research centers and academic institutes segment is expandingat the fastest growth rate in the global digital pathology market and isanticipated to reach the valuation of USD 3,778.4 Mn by the end of theassessment period.
Regional Analysis
The key markets of the global digital pathology market include NorthAmerica, Europe, Asia Pacific and the Middle East & Africa. The globaldigital pathology market is dominated by North America owing to the prevalenceof chronic diseases and technologically advanced healthcare sector in theregion. Europe is the second largest market for digital pathology due to thepresence of a robust healthcare sector and increased expenditure on healthcarefacilities. Asia Pacific is expected to be the fastest growing market onaccount of improvements in the healthcare sector, rising healthcare expenditure,and growing awareness. The Middle East & Africa market is projected toexhibit steady growth over the forecast period.
Industry News
Paige raised $100 million for additional support in order to accelerate theproduction of biomarkers as a therapeutic product, following two approvals lastmonth for their artificial intelligence platforms for cancer pathology. Casdin Capital and Johnson & Johnson Innovation, a strategic venturecapital arm of the pharmaceutical industry, led this New York-based company's Cround.
Competitive Landscape
The global digital pathology market is fragmented and highly competitivewith the presence of a multitude of well-established and small players. Owingto the lucrative growth opportunities offered by the market, there has been aninflux of new players which further intensifies the competition. The notableplayers of the global digital pathology market include microDimensions GmbH, Q2Solutions, LLC, Philips Healthcare, ViewsIQ Inc., Apollo Enterprise ImagingCorp., Definiens, Mikroscan Technologies, Inc., Omnyx, GE Healthcare, HuronDigital 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 DrugDiscovery 27
5.2.2 Rising Prevalence of Chronic and Infectious Diseases27
5.2.3 Increasing Automation in Laboratories 27
5.2.4 Growth in the Number of Public and PrivateDiagnostic 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 Expertise29
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