Dublin, Sept. 05, 2023 (GLOBE NEWSWIRE) -- The "Digital Pathology Market by Product (Scanner, Software, Storage System), Type (Human, Veterinary), Application (Teleconsulation, Training, Disease Diagnosis, Drug Discovery), End User (Pharma & Biotech, Academia, Hospitals) - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global digital pathology market is projected to reach USD 1.8 billion by 2028 from USD 0.9 billion in 2023, at a CAGR of 13.6%
North America accounted for the largest share of the digital pathology market in 2022. During the forecast period, this market is expected to grow at the highest rate. Factors such as the growing geriatric population, rising prevalence of cancer, the presence of high-quality infrastructure, and favorable reimbursement in the region are driving the growth of the market in North America.
Growth in the digital pathology market is mainly driven by the increasing adoption of digital pathology to enhance lab efficiency, rising incidence of cancer, growing applications of digital pathology in drug development and companion diagnostics, growing awareness of early cancer diagnosis in emerging economies, and recommendations for cancer screening
However, the high cost of digital pathology systems and a shortage of trained pathologists are factors expected to restrain the market growth to a certain extent.
On the other hand, the high costs of digital pathology systems are expected to restrain market growth to a certain extent.
The software segment is projected to grow at the highest CAGR during the forecast period
By product, the global digital pathology market is segmented into scanners, software, and storage systems. The software segment is projected to grow at the highest CAGR during the forecast period. This can be attributed to the high adoption of integrated software by pathologists, and the increased adoption of digital pathology software solutions in various healthcare facilities for remote primary diagnosis.
The human pathology segment is projected to grow at the highest CAGR during the forecast period By type, the digital pathology market is segmented into human pathology and veterinary pathology.
In 2023, the human pathology segment is projected to grow at the highest CAGR due to the growing awareness of early cancer diagnosis in emerging economies, and growing collaborations among academic research institutes, universities, and pathology laboratories.
Drug discovery segment is projected to grow at the highest CAGR during the forecast period
By application, the digital pathology market is segmented into drug discovery, disease diagnosis, and training & education.
In 2023, the drug discovery application segment is projected to grow at the highest CAGR during the forecast period. The growth in high throughput screening and imaging, and the rising number of preclinical & clinical studies are the major factors responsible for the large share and high growth rate of the drug discovery application segment.
The pharmaceutical & biotechnology companies' end-user segment is projected to account for the largest share of the digital pathology market By end user, the digital pathology market is broadly segmented into pharmaceutical & biotechnology companies, hospitals & reference laboratories, and academic & research institutes. Pharmaceutical & biotechnology companies are the largest end users of the digital pathology market.
In 2023, the pharmaceutical & biotechnology companies segment is projected to account for the largest share of the digital pathology market due to the growing use of digital pathology for drug toxicology testing. Biotechnology companies use digital pathology for biobanking, biopharmaceutical studies, molecular assays, and the development of individualized medicine.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 242 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $0.9 Billion |
| Forecasted Market Value (USD) by 2028 | $1.8 Billion |
| Compound Annual Growth Rate | 13.6% |
| Regions Covered | Global |
Premium Insights
- Rising Prevalence of Cancer to Drive Market
- Pharmaceutical & Biotechnology Companies Accounted for Largest Share of North American Market in 2022
- UK to Grow at Highest CAGR During Forecast Period
- North America to Register Highest Growth Rate During Forecast Period (2023-2028)
- Developed Markets to Register Higher Growth During Forecast Period
Market Dynamics
Drivers
- Increasing Adoption of Digital Pathology to Enhance Lab Efficiency
- Rising Incidence of Cancer
- Growing Applications of Digital Pathology in Drug Development and Companion Diagnostics
- Growing Awareness of Early Cancer Diagnosis in Emerging Economies
- Recommendations for Cancer Screening
Restraints
- High Cost of Digital Pathology Systems
Opportunities
- Introduction of Affordable Scanners for Private Pathology Practices
- Growing Demand for Personalized Medicine
- High Growth Opportunities in Emerging Economies
Challenges
- Shortage of Trained Pathologists
Impact of New IVD Regulation on Different Markets
- Impact on Clinical Lab Services
- Impact on Ivd
- Impact on Digital Pathology
- Technology Analysis
Artificial Intelligence (Ai) in Digital Pathology
- Label-Free Imaging in Digital Pathology
- Computational Image Analysis in Digital Pathology
Company Profiles
Key Players
- Danaher Corporation
- Koninklijke Philips N.V.
- Hamamatsu Photonics K.K.
- F. Hoffmann-La Roche Ltd.
- Sectra Ab
- Akoya Biosciences, Inc.
- 3Dhistech Ltd.
- Apollo Enterprise Imaging Corp.
- Xifin, Inc.
- Huron Digital Pathology
- Hologic, Inc.
- Corista
- Indica Labs Inc.
- Objective Pathology Services Limited
- Optrascan Inc.
- Glencoe Software, Inc.
- Aiforia Technologies Oyj
- Paige Ai, Inc.
- Fujifilm Holdings Corporation
- Proscia Inc.
Other Players
- Pathai, Inc.
- Konfoong Biotech International Co. Ltd.
- Mikroscan Technologies, Inc.
- Motic Digital Pathology
- Kanteron Systems
For more information about this report visit https://www.researchandmarkets.com/r/6bd3pm
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