New York, United States, Nov. 02, 2023 (GLOBE NEWSWIRE) -- The Global Digital Pathology Market size is To Grow from USD 0.94 Billion in 2022 to USD 1.96 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period.
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Digital pathology combines pathology with digital imaging technology, enabling the acquisition, management, and interpretation of high-resolution images of tissue samples for diagnosis. It replaces traditional glass slides and microscopes with digital slides that can be viewed and analyzed on computer screens. This technology facilitates remote access and sharing of images, fostering collaboration and efficiency in diagnosis, research, and education. Advanced image analysis techniques, including machine learning and artificial intelligence, can be integrated for automated detection and quantification of pathological features. Digital pathology offers benefits such as improved workflow, streamlined consultations, standardized reporting, and enhanced archival capabilities. With ongoing advancements, digital pathology has the potential to revolutionize pathology practice, leading to more precise and personalized patient care.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Digital Pathology Market Size, Share, and COVID-19 Impact Analysis, By Product (Software, Device, and Storage System), By Application (Drug Discovery & Development, Academic Research, and Disease Diagnosis), By End-Use (Hospitals, Biotech & Pharma Companies, Diagnostic Labs, and Academic & Research Institutes), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The software segment is expected to grow at a CAGR of around 7.7% during the forecast period
Based on product type, the global digital pathology market is segmented into software, device, and storage system. The software segment is projected to experience the fastest growth rate in the digital pathology market over the forecast period. This growth can be attributed to advancements in artificial intelligence (AI) and machine learning algorithms that have fueled the development of sophisticated software solutions for image analysis, interpretation, and pattern recognition in digital pathology. The increasing adoption of digital pathology systems has created a demand for software that enables efficient data management, image sharing, and remote access to digitized slides. Overall, the integration of software with cloud-based platforms and telepathology solutions has further propelled the growth of the software segment, providing flexibility and accessibility to pathologists for collaboration and consultations.
The hospitals segment held the largest market share with more than 32.7% in 2022.
Based on the end-use, the global digital pathology market is segmented into hospitals, biotech & pharma companies, diagnostic labs, and academic & research institutes. The hospitals segment has emerged as the dominant player in the digital pathology market, holding the largest share. Several factors contribute to the dominance of this segment. Hospitals are the primary healthcare settings where pathology services are provided, making them key adopters of digital pathology solutions. The increasing demand for accurate and timely diagnosis, improved patient care, and enhanced workflow efficiency drives hospitals to invest in digital pathology technologies. Additionally, hospitals have the resources and infrastructure to implement and integrate digital pathology systems, including scanners, software, and storage solutions.
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Asia-Pacific is predicted to grow at a fastest CAGR of around 7.9% over the projected period
Based on region, Asia Pacific is projected to experience the fastest growth in the digital pathology market over the projected period. The region has a large and rapidly expanding population, leading to an increased demand for advanced diagnostic techniques and personalized healthcare. The rising healthcare expenditure, coupled with government initiatives to improve healthcare infrastructure, is fueling the adoption of digital pathology solutions. Additionally, the growing prevalence of chronic diseases, such as cancer, in the region is driving the need for accurate and timely diagnosis, where digital pathology can play a crucial role. Furthermore, advancements in healthcare IT, increasing awareness about the benefits of digital pathology, and the presence of emerging economies with untapped market potential are all contributing to the projected growth of the digital pathology market in the Asia Pacific region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major players in the global digital pathology market include Leica Biosystems Nussloch GmbH, Hamamatsu Photonics, Inc., Koninklijke Philips N.V., Olympus Corporation, F. Hoffmann-La Roche Ltd., Mikroscan Technologies, Inc., Inspirata, Inc., Epredia, Visiopharm A/S, Huron Technologies International Inc., ContextVision AB and others.
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Recent Developments
In June 2023, Minerva Imaging recently formed a strategic collaboration with Visiopharm, focusing on AI-driven image analysis. This partnership aims to leverage Visiopharm's Oncotopix platform, which utilizes artificial intelligence, to develop robust predictive assays in the field of pathology. By combining Minerva Imaging's expertise and Visiopharm's advanced AI capabilities, the collaboration seeks to enhance the accuracy and efficiency of image analysis for improved diagnostics and personalized treatment in pathology.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the Global Digital Pathology Market based on the below-mentioned segments:
Digital Pathology Market, By Product
- Software
- Device
- Storage System
Digital Pathology Market, By Application
- Drug Discovery & Development
- Academic Research
- Disease Diagnosis
Digital Pathology Market, By End-Use
- Hospitals
- Biotech & Pharma Companies
- Diagnostic Labs
- Academic & Research Institutes
Digital Pathology Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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