Digital Pathology Market Projected to reach US$ 1,892.40 million by 2028

Posted by Prabha Mahajan on September 29th, 2022

According to latest research, the global Digital Pathology Market accounted for US$ 852.08 million in 2021 and is expected to hit US$ 1,892.40 million by 2028 to rise at an annual growth rate of 12.1% from 2021 to 2028. Technological advancement in digital pathology systems, growing preference of telepathology in remote areas, and digital pathology for cancer treatment are the critical factors aiding the market expansion.

Digital pathology is an image-based information platform that aids the management of information created from a digital slide. A digital slide picture file is then created, that enables the user for high resolution visualization, interpretation and image analysis of digital pathology slides. Furthermore, the advantages include digitization of the workflow, collecting, storing & sharing the patent’s data from remote places. In addition, to the advantages there few more benefits that aims lesser risks of losing, damaging of the specimens, zero cost of transportation and lesser period. The use of digital pathology is mainly done for the detection of cancer, due to the high resolution results of the images analyzed for the diagnostics. The rise in the prevalence of the cancer across the world is a major key factor or the growth of digital pathology market in the coming future.

The global digital pathology market is experiencing a positive rise in the present state and is anticipated to flourish in the forecasted period. The use of the digital pathology for the drug development is leading to the growth of the market as the utilization of digital pathology is expressively done by the pharmaceutical & biotechnological companies and clinical research organizations (CROs). The pharmaceutical & biotechnological companies and CROs plans the drug development protocols for the drug discovery, pre-clinical and clinical trials. Moreover, the labs in the pharmaceutical & biotechnology companies up-grades their labs to digital labs. The up-gradation creates a great potential future for the quantitative analysis of emerging confidant diagnostics and different innovations in medicines.

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The advent of information technology (IT) in healthcare has enabled physicians to maintain optimal workflow and meet the frequently changing patient’s preferences. Leica Biosystems introduced a software that can share digital pathology images and case data with experts outside the IT network. Computerization, robotic light microscopy, multiple fiber-optic communications, digital imagery, whole-slide imaging (WSI), LIS/LIMS interface, and high-speed networking are among the modern technologies assisting the pathologists.

People staying in remote regions need to travel to the urban areas for diagnosis, treatment, and follow-up. Digital pathology helps bridge the gap between patients from remote areas and diagnostic centers by providing an adequate access to healthcare organizations. A digital pathology setup is easy to install in rural labs and hospitals. It serves the remote telecommunication consultation, primarily for diagnosis and treatment. Several hospitals, primary care providers, private clinics, and other medical institutions offer remote telepathology services. Such systems reduce costs, benefit the organizations, and ensure patient’s satisfaction.

Periodic diagnosis is the first step of every cancer treatment. Traditional pathological methods can only detect tumors but find it gruesome to share the case for second review. This discrepancy is eliminated by digital pathology system that offers in-depth analysis and diagnosis of tumors. It involves the scanning of conventional glass slides and digitally unifying successive images into a single large image conveying the information. Pathologists, after hovering over the picture, gets an integrated and comprehensive overview of every unique cancer condition. Thus, the demand for technical advent in cancer treatment with the aspects discussed above bolsters the global digital pathology market.

The report segmentation of Digital Pathology Market as follows:

Based on product, the market is categorized into scanner, software, communication, and storage. The scanner segment occupied 55.37% market share in 2021 with a revenue total of US$ 471.79 million. It is projected to be worth US$ 1,035.24 million by 2028 to grow at 12.3% CAGR during 2021–2028.

As per the application, the market domain is split into drug discovery, disease diagnostics, telepathology, and training & education. The drug discovery segment held 37.97% market share in 2021. It was evaluated at US$ 323.54 million in 2021 and is estimated to garner US$ 745.35 million by 2028, expanding at 12.7% CAGR along the forecast period.

By end user, the global digital pathology market is arrayed into educational, clinical, and pharma & biotech companies. With 53.75% market share, the pharma & biotech companies segment led the domain in 2021, amassing US$ 457.98 million. It is slated to accrue US$ 1,042.36 million by 2028, progressing at 12.5% CAGR over the forecast period.

Our regional analysis states that North America captured 37.77% share of the business in 2021. It was valued at US$ 321.83 million in 2021 and is likely to reach US$ 733.30 million by 2028, surging at 12.5% CAGR during the forecast period. The regional market in APAC was assessed at US$ 183.31 million in 2021 and is forecasted to accumulate US$ 426.03 million by 2028.

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