Global Digital Pathology Market Size, Share & Trends Analysis Report By End-user, By Region, and Segment Forecasts, 2023 - 2032

Global Digital Pathology Market Size, Share & Trends Analysis Report By End-user, By Region, and Segment Forecasts, 2023 - 2032

Global Digital Pathology Market Size, Share & Trends Analysis Report By End-user, By Region, and Segment Forecasts, 2023 – 2032

Global Digital Pathology Market was valued US$ 1.07 Billion in 2022 and is expected to reach ~US$ 2.7 Billion by 2032, growing at a CAGR of 10% during the forecast period 2023-2032.

Digital pathology is a computer-powered information platform that specialises in image-based data management from digital slides. In the field of research, this technology has two uses. In order to arrange a variety of images, such as macroscopic views, tissue microarrays, and whole slide images, it first offers specialised file storing and viewing tools. Secondly, by developing and applying image analysis methods, digital pathology advances research.

Numerous important elements are driving the huge expansion of the global digital pathology market. One of the main causes is the rising incidence of cancer, which has increased the need for accurate detection tools. The industry's major companies are also consistently creating new digital pathology systems, which is driving the market's growth. According to a Medscape report, chronic illnesses are associated with higher death rates, which emphasises the urgent need for cutting-edge diagnostic instruments. This need is especially strong in light of the rise in cardiovascular diseases, which is driving the creation of cutting-edge diagnostic tools. Consequently, the market for digital pathology is expanding because to the rising prevalence of cardiovascular and chronic illnesses.

The ageing population and quick technical developments in digital pathology systems support the business even more. In 2020, the National Cancer Statistics reported that there were about 1,806,590 new cases of cancer in the United States alone. Given that growing older is a major risk factor for cardiovascular illnesses, the rise in cancer cases is strongly related to the ageing population.

Chronic illnesses, which include diabetes, cancer, and cardiovascular disorders, have a substantial financial impact on the US economy, costing over USD$ 4.1 trillion a year. The Centres for Disease Control and Prevention (CDC) have revealed that these diseases are substantial causes of mortality and disability. By July 2022, four out of ten adults in the United States were managing two or more chronic illnesses, and six out of ten adults had at least one chronic ailment. According to World Health Organisation (WHO) projections, one in six persons globally would be over 60 by 2030. It is anticipated that by 2050, there will be about 2.1 billion people in the world who are 60 years of age or older. Between 2020 and 2050, there will also be an additional 426 million people who are 80 years of age or older. The demand for digital pathology solutions is expected to increase due to the greater prevalence of chronic diseases in this ageing demographic, which is linked to an expected rise in ailments like cancer. As such, this component plays a significant role in driving the Compound Annual Growth Rate (CAGR) of the market for digital pathology.

Additionally, with the introduction of IoT in pathology laboratory services, the digitisation of healthcare has made it possible to use smarter and more interoperable laboratory technology. Digital pathology data is the main source driving the expansion of large healthcare data; a single laboratory facility uses digital pathology technology to generate between 1 and 1.5 petabytes (PB) of data annually. The declining cost of cloud-based storage systems has allayed worries about data storage for linked devices. Between 2015 and 2030, the cost of preserving laboratory data is expected to drop by almost 98.98%. The anticipated decrease in expenses is anticipated to enhance end-users' access to digital pathology data storage and propel the market's revenue growth.

“Scanner segment, by type, to be largest market from 2023 to 2030.”

The global Digital Pathology Market comprise major segments such as scanner, software and storage systems. The scanners segment dominated the market in 2022, and it is expected that this trend would continue for the duration of the forecast period. Numerous variables, such as the rising need for disease diagnosis, the rise in R&D efforts in the pharmaceutical and medical device industries, and the notable adoption of digital pathology systems, are responsible for this sustained dominance. Nonetheless, during the course of the projection period, the illness software market is expected to increase significantly. The rise in cancer incidence and the growing participation of major firms in the creation of digital pathology systems in the medical equipment sector are the main drivers of this expansion.

“North America to be largest region in Digital Pathology Market.”

North America accounted for a sizable share of the global market for Digital Pathology in 2022. Between 2023 and 2032, the area is expected to increase rapidly.

The second-largest market share is held by the Asia Pacific digital pathology market, which is growing as a result of investments made in the healthcare industry, unexplored business prospects in the area, and rising usage of digital imaging in developing nations. The rising incidence of cancer, which affects a sizable section of the population, has had a profound impact on the Asia Pacific healthcare industry. Notably, the digital pathology market in China held the biggest market share in the area, whilst the market in India grew at the fastest rate.

On the other hand, it is projected that the European digital pathology market will grow at the fastest CAGR between 2022 and 2030. Patients' growing preference for digital tools over conventional pathology procedures and the strategic developments made by major industrial participants in the area, such as the patenting of novel technology, should be credited for this increase. Additionally, the digital pathology market in the UK was the largest among European nations, with the fastest-growing market in the region being the one in Germany.

Digital Pathology Competitive Landscape

The competitive landscape of the Digital Pathology Market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Digital Pathology technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Digital Pathology Market is highly competitive, with numerous companies vying for market share. Prominent companies in the Digital Pathology Market include:

Major Players:

Olympus Corporation

Leica Biosystems GmbH

Inspirata

3DHISTECH Ltd

Recent Developments:

SpIntellx, Inc. and Inspirata teamed up in June 2022 to combine the SpIntellx Dynamyx software with the HistoMapr-Breast platform to develop an integrated solution. Among the unique computational pathology programs that utilise explainable artificial intelligence (xAI) is HistoMapr-Breast. The purpose of this partnership is to improve the efficiency and precision with which healthcare providers can detect, predict, and treat breast cancer.

The slide scanner VENTANA DP 600, which has been certified by the CE, was introduced by Roche in June 2022. The purpose of this high-capacity slide scanner is to improve workflow flexibility and user-friendliness in pathology labs by capturing high-quality photographs of stained histology slides from patient tissue samples.