Digital Pathology Market is predicted to reach USD 19,456.80 million by 2030
The Global Digital Pathology Market held USD 3,524.68 million in 2018 and is predicted to reach USD 19,456.80 million by 2030 with a CAGR of 15.3% from 2019-2030
Digital pathology is also known as digital imaging, virtual slides, or virtual microscopy. It is a dynamic and image-based environment that allows procurement, administration, and interpretation of pathological information to computer screen. It enables the pathologist to observe the slide under a microscope and have digitalized image of it by using image analysis software.
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The adoption of the digital pathology has increased in numerous applications that includes diagnosis of the diseases, drug discovery, and research. In addition, rising occurrence of chronic conditions has increased the demand for the digital pathology, thereby impacting the digital pathology market share in future. Also, digital pathology provides live and high resolution images that helps the pathologist to provide better diagnosis.
The digital pathology market size is expected to grow at a substantial rate by 2030. The factors including implementing faster diagnostic tools for chronic diseases, increasing adoption of digital pathology to enhance lab efficiency, and growing trend of digitalization in medical sector has majorly driven the digital pathology market. Furthermore, use of digital pathology in disease diagnosis, increasing government’s initiatives, and ease of consultation has led to rise in the demand of digital pathology. However, high cost and lack in reimbursement may limit the growth the digital pathology market. The increasing potential of digital pathology, introduction of affordable scanners for private pathology practices, and personalized medicine will create new opportunities for the market growth in future.
The digital pathology market is segmented on the basis of product, type, end user, application, and geography. On the basis of product, the market is segmented into scanner, software, storage systems, and communication system. On the basis of type, the market covers human and veterinary. On the basis of end user, the digital pathology market is classified into pharmaceutical & biotechnology companies, hospital & reference laboratories, and academic & research institutes. On the basis of application, the market is divided into teleconsultation, disease diagnosis, and drug discovery. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and LAMEA.
North America is anticipated hold the highest market share during the forecast period. This is attributable to the factors including denotes a higher adoption of the digital pathology, R&D investments, presence of major players, and high consumer awareness.
It is expected that the emerging economies, specifically in the Asia-Pacific region would witness increasing market size owing to improvement in healthcare facility, proliferation of advanced imaging modalities in emerging economies, and untapped opportunities.
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Comprehensive competitive analysis and profiles of the major market players such as Nikon Corporation, PerkinElmer, Inc., Indica Labs, Inc., Koninklijke Philips N.V., Pixcelldata Ltd., Glencoe Software, Inc., Hamamatsu Photonics K.K., Visiopharm A/S, Danaher Corporation, Digipath Inc., and among others are provided in the digital pathology market report.
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