SAN FRANCISCO, May 10, 2023 /PRNewswire/ -- The global digital pathology market size is expected to reach USD 1.73 billion by 2030, registering a CAGR of 7.7% according to a new report by Grand View Research, Inc. The market is anticipated to witness exponential growth owing to the rising prevalence of chronic diseases aided by increasing demand for accurate diagnostics. Chronic diseases affect around one in every three adults. Whereas, according to the CDC, in the U.S., approximately, 51.8% of adults have at least one chronic disease. Digital pathology, including molecular tissue profiling, biobanking, tissue microarray analysis, and molecular biology, plays an important role in the drug development pipeline and companion diagnostics. The growing demand for high-quality tissue samples in tissue-based biomarker research is expected to drive technology adoption over the forecast period.
Key Industry Insights & Findings from the report:
- In 2022, the device segment held the largest share owing to the increased use of devices in academic research.
- The disease diagnosis segment is anticipated to grow at the fastest growth rate over the forecast period due to an increasing prevalence of chronic diseases and demand for noble diagnosis techniques.
- In 2022, the hospitals segment accounted for the largest revenue share due to the high incorporation of digital pathologies in healthcare settings for efficient disease diagnosis.
- North America dominated the market due to the presence of well-established digital infrastructure and a number of technological advancements pertaining to the incorporation of technology in healthcare settings.
Read 150 page full market research report, "Digital Pathology Market Size, Share & Trends Analysis Report By Application (Academic Research, Disease Diagnosis), By Product (Software, Device), By End-use (Diagnostic Labs, Hospitals), And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Digital Pathology Market Growth & Trends
The increasing adoption of telepathology with the launch of newer versions of the technology, such as in June 2022, Tribun Health launched TeleSlide Patho 5, an online telepathology platform used for providing clinical and timely expertise to patients. Moreover, the market is expected to see intense competition in the near future as companies adopt more stringent strategies to compete. Moreover, technological advancements, such as the digitization of pathology lab makes the specialty more efficient, the specimen more reproducible, and pathologists' work easier. In the past few years, several breakthrough advancements have provided a significant boost to the market.
For instance, in September 2021, Paige received FDA approval for Paige Prostate, an AI solution for the detection of prostate cancer. The product is the first AI-enabled pathology product to gain marketing authorization. This was further followed by the collaboration of F. Hoffmann-La Roche Ltd. with Ibex in October 2021 for the development of artificial intelligence-based pathology applications for the improvement of patient care. Furthermore, major players are adopting strategies, such as collaborations and partnerships with a focus on technological advancements, such as robotic light microscopy, digital imaging, multiple fiberoptic communications, and computerization, to enhance the adoption of digital pathology.
For instance, in December 2022, Deciphex launched Patholytix 3.0, a Digital Research Pathology Platform with an aim to revolutionize tools available for research pathologists and designed to overcome the limits of LIMS software that allows users to effectively manage associated data and samples. Furthermore, with the launch, the company also highlighted features of the new platform that impact workflow and offer simpler and more expedient report creation.
Digital Pathology Market Segmentation
Grand View Research has segmented the global digital pathology market based on product, application, end-use, and region:
Digital Pathology Market - Product Outlook (Revenue, USD Billion, 2016 - 2030)
- Software
- Device
- Scanners
- Slide Management System
- Storage System
Digital Pathology Market - Application Outlook (Revenue, USD Billion, 2016 - 2030)
- Drug Discovery & Development
- Academic Research
- Disease Diagnosis
- Cancer Cell Detection
- Others
Digital Pathology Market - End-use Outlook (Revenue, USD Billion, 2016 - 2030)
- Hospitals
- Diagnostic Labs
- Biotech & Pharma Companies
- Academic & Research Institutes
Digital Pathology Market - Regional Outlook (Revenue, USD Billion, 2016 - 2030)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- Japan
- China
- India
- South Korea
- Australia
- Thailand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
List of Key Players of Digital Pathology Market
- Leica Biosystems (Danaher)
- Hamamatsu Photonics, Inc.
- Koninklijke Philips N.V.
- Olympus Corp.
- F. Hoffmann-La Roche Ltd.
- Mikroscan Technologies
- Inspirata, Inc.
- 3DHISTECH Ltd.
- Visiopharm A/S
- Huron Technologies International, Inc.
- ContextVision AB
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