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[225+ Pages Report] According to the report published by Facts and Factors, the global Digital Pathology market was valued at approximately USD 485.9 Million in 2019, and is expected to generate revenue of around USD 1201 Million by end of 2026, growing at a CAGR of around 13.8% between 2020 and 2026.
Digital pathology is diagnosis carried out by use of various computer technologies. Digitized specimen slide generates information that is managed by advanced computation and through virtual microscopy. Advancement in genetic science, medical science as well as computer technology together in hand in hand has developed the subfield of pathology called digital pathology. During disease diagnosis, digitization of pathology is performed at hospitals, diagnostic centers. It offers a high-resolution sample scanning, analysis of computer image, and online storage of digital slide which enables pathologists to examine slides without forensic evidence
One of the important driving factors for the digital pathology market is an enhancement in lab efficiency. An improvement in lab efficiency is critical for the correct and swift diagnosis of the disease and improved access to medical reports via apps and websites. Moreover, increasing penetration of medical insurance in the population is driving the demand for pathological services, and to provide swift and efficient services, investments in digital pathology infrastructure have increased significantly. The rising prevalence of chronic diseases has further increased the requirement of digital pathology. As per the WHO survey, the total number of chronic respiratory disease cases increased by 39.5% between 1990 to 2017. At COVID-19, a Digital Pathology Enforcement Policy for Pathologists, clinical laboratories, healthcare centers, and drug management staff was issued by the US FDA's Centre for Devices and Radiological Health
The global Digital Pathology market is segmented on the basis of product as scanners, software, communication systems, and storage systems. On the basis of type, the global market is categorized as human pathology, veterinary pathology. By application, the market is classified into drug discovery, disease diagnosis, training & education, and teleconsultation. By end-user, the market is divided into hospitals, pharmaceutical & biotechnology companies, diagnostic labs, and academic & research institutes.
Asia-Pacific is expected to record the highest rate of growth over the next few years due to a rise in awareness of digital pathology systems. The presence of a large patient base with chronic & infectious diseases and an increase in expenditure in healthcare infrastructure will support the market growth during the forecast timeline. Moreover, the ever-changing life science sector is predicted to offer lucrative market expansion opportunities in developing economies such as China, India, and Malaysia. North America accounted for the major market share among the others, and it has been expected to maintain this trend in the near future, owing to the huge adoption of digital pathology systems.
Major players in the market are Koninklijke Philips N.V., Hamamatsu Photonics, Leica Biosystems, Visiopharm A/S, Corista, Indica Labs, OptraSCAN, Glencoe Software, Inspirata Inc., Mikroscan Technologies, Proscia Inc., Kanteron Systems, Roche, Apollo Enterprise Imaging, Sectra AB, and Huron Digital Pathology among others.
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