Selbyville, Delaware, April 30, 2024 (GLOBE NEWSWIRE) -- Digital Pathology Market Size is projected to be worth over USD 2.4 billion in revenue by the end of 2032. The increasing prevalence of chronic diseases, such as cancer, cardiovascular disorders, and infectious diseases, along with the subsequently rising demand for accurate and efficient diagnostic solutions will drive the industry expansion.
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As per WHO, around 17.9 million cardiovascular deaths occur annually followed by 9.3 million cancer fatalities globally. Digital pathology offers advanced imaging and analysis tools that enable pathologists to analyze tissue samples with greater precision, leading to more accurate diagnoses and treatment decisions. The adoption of digital pathology facilitates remote consultation and collaboration among healthcare professionals for improving patient care outcomes and enhancing workflow efficiency.
Rising technological advancements in imaging techniques, such as whole slide imaging (WSI) and AI, are further driving innovations in digital pathology. WSI offers digitization of entire glass slides, enabling pathologists to view and analyze tissue samples digitally. Moreover, AI algorithms assist pathologists in identifying abnormalities and patterns within images, leading to faster and more accurate diagnoses. These technological advancements are not only improving the efficiency of pathology workflows but also enhancing diagnostic accuracy and enabling personalized treatment strategies.
Teleconsultation segment to record significant CAGR
The teleconsultation application segment in the digital pathology market is projected to expand between 2024 and 2032, due to strong need to assist pathologists to remotely collaborate and consult with colleagues, specialists, and experts in real-time, regardless of geographical barriers. This facilitates the exchange of knowledge, expertise, and insights, leading to more accurate diagnoses and treatment recommendations. Teleconsultation also improves access to pathology services, particularly in underserved and remote areas where access to pathology expertise may be limited.
Rising usage in biotech & pharma companies
Digital pathology market from the biotech & pharma companies segment may generate sustainable development from 2024-2032, owing to the rising reliance on pathology services for drug discovery, development, and clinical trials. By adopting digital pathology solutions, biotech & pharma companies can streamline the analysis of tissue samples, accelerate the evaluation of drug efficacy and safety, and enhance decision-making processes. As personalized medicine gains prominence, these companies are further leveraging digital pathology to analyze biomarkers and genetic variations in patient samples for enabling the development of targeted therapies.
Asia Pacific to emerge as a lucrative market
Asia Pacific digital pathology market size is set to exhibit robust CAGR from 2024-2032, attributed to the rapidly expanding healthcare infrastructure and increasing healthcare expenditure. Countries like China, Japan, and India are witnessing significant investments in healthcare infrastructure, leading to greater accessibility to pathology services and digital pathology systems. The rising prevalence of chronic diseases and cancer in the region is also fueling the demand for accurate and efficient diagnostic tools.
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Digital Pathology Industry Participants
Some of the top firms engaged in the digital pathology market include HAMAMTSU Photonics K.K, Sectra AG, Danaher Corporation, Mikroscan Technologies Inc., Proscia Inc., Indica Labs Inc., Koninklijke Philips N.V, Leica Biosystems, Olympus Corporation, 3DHISTECH LTD, Nikon Corporation, VisoPharma A/S., Perkinelmer Inc., and F. Hoffmann-La Roche Ltd.
These players are focusing on strategic partnerships as well as new product launches & commercialization for market expansion. To cite an instance, in February 2024, Roche announced that it had entered an agreement with PathAI, a global leader in AI-driven technology for pathology.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Global digital pathology market 3600 synopsis, 2018 – 2032
2.2 Regional trends
2.3 Product trends
2.4 Application trends
2.5 End-use trends
Chapter 3 Digital Pathology Industry Insights
3.1 COVID- 19 impact analysis
3.2 Industry ecosystem analysis
3.3 Technology landscape
3.4 Regulatory landscape
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 Increasing adoption of digital solutions
3.5.1.2 Advancements in imaging technology
3.5.1.3 Integration of digital pathology systems with electronic health records (EHRs)
3.5.1.4 Increasing application in drug discovery and companion diagnostics
3.5.2 Industry pitfalls & challenges
3.5.2.1 Lack of standard guidelines for digital pathology
3.5.2.2 High cost associated with the implementation and integration of hardware or software
3.6 Growth potential analysis
3.6.1 By product
3.6.2 By application
3.6.3 By end-use
3.7 Porter's analysis
3.8 PESTEL analysis
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