Luton, Bedfordshire, United Kingdom, Aug. 26, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Digital Pathology Market.
The global digital pathology market is expected to grow at 13.1% CAGR from 2022 to 2029. It is expected to reach above USD 1.97 billion by 2029 from USD 0.65 billion in 2020.
Growth of the global digital pathology market is majorly driven by increase in prevalence of cancer; rise in the demand for accurate diagnostics, and development of new digital pathology system by large number of key players. According to report published, chronic diseases can be associated to the higher mortality rate. The fundamental cause for the development of advanced diagnostic solutions is the rise prevalence of cardiovascular disorders. Thus, as the prevalence of chronic and cardiovascular diseases rises, the need for digital pathology systems increases driving the growth of the digital pathology market.
Rise in geriatric population and rapid technological advancements in digital pathology systems are the factors that fuel the growth of the digital pathology market. According to the National Cancer Statistics in 2020, around 1,806,590 new cases of cancer in the U.S. Therefore, the growing number of cancer cases can be attributed to the rapid increase in geriatric population which is more prone to cardiac disorders. This is anticipated to boost the growth of the market.
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Regional Opportunities- The North America countries are expected to dominate due to the presence of many market players in the region.
North America held the largest revenue share of more than 41%. Continual deployment of R&D investments, supportive government initiatives pertaining to the development of technologically advanced systems, rising adoption of digital imaging, and the presence of major players are the key factors driving the market in this region. Increased usage of digital pathology for disease diagnosis coupled with favourable reimbursement policies in the U.S. improving the quality of cancer diagnosis is expected to further fuel the regional market growth. However, Asia Pacific is expected to grow at the fastest CAGR during the forecast period.
Market Developments
- Digital Pathology Transformation of the Catalan Health Institute Network with 3DHISTECH
The Catalan Health Institute (ICS) has started its digital pathology transformation. We are proud to participate in the project with 3DHISTECH equipment.
The MDPI has shared a publication about the details of the project, implementation, and preliminary results:
Complete digital pathology transformation for primary histopathological diagnosis is a challenging yet rewarding endeavor. Its advantages are clear with more efficient workflows, but there are many technical and functional difficulties to be faced. The Catalan Health Institute (ICS) has started its DigiPatICS project, aiming to deploy digital pathology in an integrative, holistic, and comprehensive way within a network of 8 hospitals, over 168 pathologists, and over 1 million slides each year.
- In April 2021, Leica Biosystems (US) and Paige.AI, Inc. (US) partnered for Paige’s AI-enabled research software for tumor detection, grading, and quantification to Leica Biosystems digital pathology platform in countries throughout North America and Europe.
Digital Pathology Market Scope and Segmentation
| Report Feature | Details |
| Base Year: | 2021 |
| Projection Period: | 2022-2029 |
| Market Details: | Total revenue and forecast, CAGR, Market value, share, and Y-o-Y growth by segment and region |
| Segment Covered: | By Type, by Product, by Application, By End User |
| Regional and Country Scope | North America: includes the US, Canada, Mexico Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe South America: includes Brazil, Argentina and Rest of South America Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA |
| Largest market share | North America - 41%. |
| Market Players Covered | 3DHISTECH, Hamamatsu Photonics, Leica Biosystems, Koninklijke Philips, Apollo Enterprise Imaging, XIFIN, Ventana Medical Systems, Visiopharm, Corista, and Huron Digital Pathology |
| Growing aging population boosts market growth | The growth can be attributed to the rising penetration of digital imaging in emerging economies, investments in the medical field, and the presence of untapped opportunities in Asia Pacific. The healthcare industry in Asia Pacific has highly influenced the market due to the increased incidence of cancer, which affects a large population. In addition, rising demand for novel treatment options, better patient care facilities, and a reduction in laboratory expenses are expected to drive the market growth in this region. |
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Rapid technological advancements is another factor driving the growth of the market.
Rapid technological advancements in digital pathology systems are also expected to contribute to market growth. Advancements, such as digital imaging, computerization, robotic light microscopy, and multiple fiber optic communications, are also contributing to the growth. Whole slide imaging is one such technique that has various advantages over conventional light microscopes, which is expected to provide this market with lucrative opportunities. The adoption of AI in healthcare is growing with a rising focus on improving the quality of patient care by utilizing AI in various aspects of healthcare services, such as pathological diagnosis.
Points cover in Digital Pathology Market Research Report:
Chapter 1: Overview of Digital Pathology Market (2022-2029)
Definition
Specifications
Classification
Applications
Regions
Chapter 2: Market Competition by Players/Suppliers 2022 and 2029
Manufacturing Cost Structure
Raw Material and Suppliers
Manufacturing Process
Industry Chain Structure
Chapter 3: Sales (Volume) and Revenue (Value) by Region (2022-2029)
Sales
Revenue and market share
Chapter 4, 5 and 6: Global Digital Pathology Market by Type, Application & Players/Suppliers Profiles (2022-2029)
Market Share by Type & Application
Growth Rate by Type & Application
Drivers and Opportunities
Company Basic Information
Chapter 7, 8, and 9: Sourcing & Marketing Strategy Analysis
Key Raw Materials Analysis
Upstream Raw Materials Sourcing
Marketing Channel
Chapter 10 and 11: Digital Pathology Market Effect Factors Analysis and Market Size (Value and Volume) Forecast (2022-2029)
Technology Progress/Risk
Sales Volume, Revenue Forecast (by Type, Application & Region)
Chapter 12, 13, 14 and 15: Digital Pathology Market Research Findings and Conclusion, appendix and data source
Methodology/Research Approach
Data Source (Secondary Sources & Primary Sources)
Market Size Estimation
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