Asia-Pacific Digital Pathology Market 2022-2028

Asia-Pacific Digital Pathology Market 2022-2028

Summary

Asia-Pacific digital pathology market is growing at a CAGR of 19.6% during the forecast period (2021-2028). Increasing healthcare spending by regional governments to cater the rising demand for an efficient and cost-effective diagnostic equipments is the key promoter for the growth of Asia-Pacific digital pathology market. On August 15, 2021, India introduced the National Digital Health Mission (NDHM). Under this mission every Indian citizen will be provided with a unique digital health ID. This ID will contain patient’s health records including prescriptions, diagnostic reports, and medical histories to allow easy access for both patients and health service.

According to IBEF (India Brand Equity Foundation), as of May 2021, 11.9 lakh Health IDs were generated, and 3,106 doctors and 1,490 facilities were registered on the National Digital Health Mission (NDHM) platform. The increasing awareness related to available healthcare facilities among targeted population is expected to create significant demand for digital pathology products and services across the region. Though the operation cost of digital pathology is less as the chances of error are very less. Digital pathology has several costly components ranging from hardware to software for analysis and interpretation; moreover, the integration platform requires another set of software to reach optimum efficiency of pathology.

Based on end-user, the market is segmented into biotechnology and pharmaceutical companies, diagnostic centers, and academics centers. Diagnostic centers held a major market share of 80.6% in 2021, based on end-user. The diagnostic center for digital pathology market was valued at $150 million in 2021 and is anticipated to reach $554 million by 2028; at the highest CAGR of 19.8% during the forecast period. Based on application, the market is segmented into anatomical pathology, chemical pathology, forensic pathology, clinical pathology, immunopathology pathology, and other. In 2021, clinical pathology held a major market share of 60.2% in Asia-Pacific digital pathology market based on application. The clinical pathology market was valued at $112 million in 2021 and is anticipated to reach $405 million by 2028; at a CAGR of 19.5% during the forecast period.

Based on region, Asia-Pacific digital pathology market has been segmented into China, Japan, India, and Rest of Asia-Pacific. China held a major market share of 40.5% in 2021. China digital pathology market was valued at $75 million in 2021 and is anticipated to reach $283 million by 2028. However, India is anticipated to grow at the highest CAGR 20.7% during the forecast period. Indian digital pathology market was valued at $18 million and is anticipated to reach $71 million by 2028.

ARCO, Philips Healthcare, Carl Zeiss AG, among others, are the major market players that are making significant contribution to the market growth by the adoption of various strategies including mergers and acquisitions, new product launches, and distribution channel expansion to stay competitive in the market. For instance, in 2021, Visiopharm, and JiNan Danjier Electronics Co., Ltd., an exclusive distributor of 3DHistech digital pathology products in China, announced a partnership agreement to provide Visiopharm’s digital pathology analysis software across China. The new partnership extends JiNan Danjier’s portfolio to include Visiopharm’s research solutions for tissue pathology analysis including AI deep learning methods and multiplex immune cell phenotyping analysis. These advanced solutions increase JiNan Danjier’s analysis capabilities and applications, which addresses the growing pathology analysis needs in China.