Digital Pathology Market Forecasts to 2028 – Global Analysis By Type (Veterinary Pathology, Human Pathology), Product (Software, Services), Deployement, End User, and By Geography

Digital Pathology Market Forecasts to 2028 – Global Analysis By Type (Veterinary Pathology, Human Pathology), Product (Software, Services), Deployement, End User, and By Geography

According to Stratistics MRC, the Global Digital Pathology Market is accounted for $761.59 million in 2021 and is expected to reach $2050.63 million by 2028 growing at a CAGR of 15.2% during the forecast period. Digital pathology is a computer-enabled, image-based information platform that helps in the management of information generated from digital slides. Digital pathology will facilitate cutting back human error yet manufacturing precise diagnostic leads to a short turnaround. The processes concerned in digital pathology enable to hurry up routine tasks while not reducing the standard of the execution of every task.

Market Dynamics:

Driver:

Technological advancements

Technological advancements in digital pathology help to overcome limitations as these systems provide efficient and effective results for diagnostic tests. Manual interpretation of tissue slides for disease diagnosis purposes is costly and labor extensive that increases error and inconsistency in the diagnostic result and increases the risk of diagnostic failure and impedes the decision-making process. Digital pathology systems can analyze a large array of slides within a short duration without any diagnostic error.

Restraint:

High cost of digital pathology systems

The high cost associated with technologically advanced digital pathology systems is expected to restrain the growth of the digital pathology market. The average cost of the digital pathology systems for telepathology and whole slide imaging can be unaffordable for many low-resource environments in developing countries. Moreover, the digital pathology systems require costly infrastructure such as larger memory to store data, thereby restricting the usage of digital pathology systems this is leading to restraining the growth of the market.

Opportunity:

Introduction of affordable scanners

The development of affordable scanners is expected to offer growth opportunities for players operating in the digital pathology market. Most private medical practices are small businesses and cannot afford expensive digital pathology systems. The introduction of affordable scanners and the propensity of small players to move towards digitization of pathology workflow will encourage its adoption among pathologists with low or limited budgets.

Threat:

Shortage of trained pathologists

Pathologists play a crucial role in performing laboratory tests essential for disease diagnosis. However, there is a gap between the supply and demand of pathologists worldwide. Digital pathology enables medical practitioners to remotely share important information with pathologists beyond geographical boundaries securely and timely. Moreover, advanced technologies, such as AI and machine learning, help pathologists identify diseases faster and help improve their efficacy and efficiency. Thus, the alarming shortage of pathologists is expected to result in the increased utilization of digital pathology for providing remote pathological consultation and services.

The human pathology segment is expected to be the largest during the forecast period

The human pathology segment is estimated to have a lucrative growth owing to the increasing number of cancer research activities and growing collaborations among research institutes, universities, and pathology laboratories. With particular support for education, tissue-based research, drug development, and the profession of human pathology across the world, digital pathology is quickly gaining traction as a proven and important technology.

The pharmaceutical & biotechnology companies segment is expected to have the highest CAGR during the forecast period

The pharmaceutical & biotechnology companies segment is anticipated to witness the fastest CAGR growth during the forecast period due to the increasing use of digital pathology for drug discovery studies and drug toxicology testing, the rise in the prevalence of cancer, and the high demand for better treatment options. Biotechnology companies also use digital pathology for biobanking, biopharmaceutical studies, molecular assays, and the development of individualized medicine.

Region with highest share:

North America is projected to hold the largest market share during the forecast period due to the rise in the number of various types of cancer cases, increasing demand for quality diagnostics, the introduction of favorable reimbursement policies, the presence of key players, and the implementation of favorable initiatives by the governments in the US and Canada.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to the rising penetration of digital imaging in emerging economies, investments in the medical field, and the presence of untapped opportunities. The presence of a large target patient population and booming healthcare industry is encouraging the growth of the regional market.

Key players in the market

Some of the key players profiled in the Digital Pathology Market include XIFIN, Inc., Visiopharm A/S, Sectra AB, PathAI, OptraSCAN, Akoya Biosciences, Leica Biosystems, Koninklijke Philips N.V., Inspirata, Inc., Indica Labs, Huron Digital Pathology, Apollo Enterprise Imaging, Glencoe Software, F. Hoffmann-La Roche Ltd., Corista, Hamamatsu Photonics, Aiforia Technologies Oy, 3DHISTECH and Objective Pathology Services.

Key Developments:

In September 2021, Visiopharm A/S collaborated with Agilent Technologies, Inc. (US) to co-market Visiopharm’s portfolio of CE-IVD marked AI-driven Precision Pathology software and Agilent’s automated pathology staining solutions portfolio.

In May 2021, Sectra AB signed an agreement with Institut Curie which allows the digitization of pathology at Institut Curie. The pathologists in Institut Curie can access cases, digital tools, and AI applications through the Sectra pathology solution.

Types Covered:
• Veterinary Pathology
• Human Pathology

Products Covered:
• Software
• Storage & Communication Systems
• Services
• Equipment

Deployments Covered:
• On-premise
• Cloud-based

Applications Covered:
• Basic & Applied Research
• Automated Hematology Analyzers & Blood Cell Counters
• Training & Education
• Urine Sediment Analysis
• Medical Microbiology
• Intraoperative Consultation
• Teleconsultation
• Routine Diagnostic Consultation Services
• Histopathology
• Mhealth (Mobile Health)
• Drug Discovery & Development
• Clinical Pathology
• Molecular Diagnostics
• Fish Enumeration Systems
• Disease Diagnosis (Cancer Cell Detection)
• Chemical Pathology

End Users Covered:
• Hospitals and Reference Laboratories
• Pharmaceutical & Biotechnology Companies
• Clinics
• Academic & Research Institutes
• Contract Research Organizations (CROs)
• Forensic Laboratories
• Geology

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances