NEWARK, Del, Oct. 09, 2023 (GLOBE NEWSWIRE) -- The global digital pathology market is anticipated to reach a valuation of US$ 7,035.8 million in 2023, driven by a shift towards personalized medicine. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 13.5% between 2023 and 2033 and reaching a total valuation of approximately US$ 24,961.8 million by 2033.
A major factor contributing to the market's growth is the integration of AI and deep learning algorithms with digital pathology systems, which can automate image analysis, enhance diagnostic accuracy, and provide predictive insights, making pathology practices more efficient and precise.
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Digital pathology facilitates the creation of virtual tumor boards, where multidisciplinary healthcare professionals can collaborate on complex cases, improving treatment planning and outcomes. Research institutions and biotechnology companies increasingly use digital pathology for preclinical and clinical research, contributing to the market's growth.
Developing industry standards and ensuring interoperability between different digital pathology solutions can drive adoption by reducing compatibility issues and increasing ease of use. Giving patients access to their pathology reports and images through secure online portals can enhance patient engagement and understanding of their health conditions.
Implementing blockchain technology can enhance the security and integrity of digital pathology data, addressing data privacy and tampering concerns. Collaborations between international health organizations and governments to improve healthcare infrastructure and access to pathology services in low-resource regions can open up new markets for digital pathology solutions.
Key Takeaways from the Digital Pathology Market Study:
- The global digital pathology market was valued at US$ 6,199.0 million by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 10.6%.
- The market in India is expected to expand at a CAGR of 13.4% through 2033.
- By end-user, the pharmaceutical and biotechnology companies segment to expand at a CAGR of 13.2% through 2033.
- From 2023 to 2033, digital pathology market is expected to flourish at a CAGR of 13.5%.
- By 2033, the market value of digital pathology is expected to reach US$ 24,961.8 million.
“Beyond traditional histopathology, digital pathology is finding applications in fields like dermatopathology, veterinary pathology, and oral pathology, broadening its market scope”, remarks Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Competitive Landscape of Digital Pathology Market:
Prominent players in the digital pathology market are Danaher Corporation, F. Hoffmann-La Roche AG, Huron Technologies International Inc., Koninklijke Philips N.V., Olympus Corporation, Hamamatsu Photonics K.K., Carl Zeiss AG, Nikon Corporation, 3DHISTECH Ltd., Hologic Inc., PerkinElmer, Inc., Visiopharm, OptraSCAN, Inc., Inspirata, Inc., and Sectra AB., among others.
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Digital Pathology Market Recent Developments
- In 2023, Philips Healthcare announced the launch of its new digital pathology solution, the Philips IntelliSite Pathology Solution. The Philips IntelliSite Pathology Solution is a comprehensive digital pathology solution that offers a wide range of features, including whole slide imaging, image analysis, and telepathology.
- In 2022, PerkinElmer announced the launch of its new digital pathology software, the PerkinElmer Pathology Informatics Platform. The PerkinElmer Pathology Informatics Platform is a cloud-based digital pathology platform that offers a wide range of features, including whole slide imaging, image analysis, and telepathology.
Top Players in the Digital Pathology Market:
- Danaher Corporation
- F. Hoffmann-La Roche AG
- Huron Technologies International Inc.
- Koninklijke Philips N.V.
- Olympus Corporation
- Hamamatsu Photonics K.K.
- Carl Zeiss AG
- Nikon Corporation
- 3DHISTECH Ltd.
- Hologic Inc.
- PerkinElmer, Inc.
- Visiopharm
- OptraSCAN, Inc.
- Inspirata, Inc.
- Sectra AB
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global digital pathology market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the digital pathology market, the market is segmented on the basis of product type (digital pathology equipment, digital pathology software, digital pathology information systems, and digital pathology services), application (clinical pathology, molecular diagnostics, basic & applied research, drug development, and others), and end-user (hospitals, diagnostic laboratories, pharmaceutical & biotechnology companies, forensic laboratories, research institutes, contract research organizations (CROs), and clinics), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa).
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Segmentation Analysis of the Digital Pathology Market
By Product Type:
- Digital Pathology Equipment
- Whole Slide Scanners
- Brightfield Slide Scanners
- Fluorescence Slide Scanners
- Combination Slide Scanners
- Clinical Microscope
- Tissue Microarrays
- Whole Slide Scanners
- Digital Pathology Software
- Image Viewing and Analysis Software
- On-premise
- Cloud-based
- Image Viewing and Analysis Software
- Digital Pathology Information Systems
- On-premise
- Cloud-based
- Digital Pathology Services
- Installation and Integration Services
- Consulting Services
- Maintenance and Validation Services
By Application:
- Clinical Pathology
- Molecular Diagnostics
- Basic & Applied Research
- Drug Development
- Others
By End User:
- Hospitals
- Diagnostic Laboratories
- Pharmaceutical & Biotechnology Companies
- Forensic Laboratories
- Research Institutes
- Contract Research Organizations (CROs)
- Clinics
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
About the Healthcare Division at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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The digital health market, which is expected to be worth USD 224.24 billion in 2022, is likely to grow at a CAGR of 27.7% from 2022 to 2032 to reach USD 2585.98 billion by 2032.
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