Digital Pathology Market Size Worth $2.4 Billion By 2030: IndustryARC

Global Digital Pathology Market size is predicted to reach $2.4 billion by 2030, growing at a CAGR of 13.1% during the forecast period 2023-2030 according to the latest market research report published by IndustryARC. The increasing prevalence of chronic diseases such as cancer, the growing demand for advanced health care solutions, and the need for effective diagnosis and treatment methods are poised to propel the market growth, finds IndustryARC in its recent report, titled “Digital Pathology Market Size, Share & Trends Analysis Report By Type (Human Pathology, Veterinary Pathology), By Product Type (Scanners, Software, Communication Systems, Storage Systems, Others), By Application(Disease Diagnosis, Research and Education, Drug Discovery and Development), By End Use (Hospitals, Pharmaceutical and Biotech Companies, Research Centers, Others), By Region and Segment Forecasts, 2023–2030”.

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Asia-Pacific to Register the Highest Growth:

The Asia Pacific region has been rapidly developing its healthcare infrastructure, with many countries investing heavily in health care facilities and services. This growth in health care infrastructure is expected to increase the adoption of digital pathology solutions.

Additionally, The Asia Pacific region has a strong focus on technological advancements, particularly in countries like Japan, South Korea, and China. These advancements are driving the development of innovative digital pathology solutions, which are expected to increase the adoption of digital pathology in the region. For instance, the NanoZoomer Slide scanner systems, a product of Hamamatsu Photonics KK converts glass slides into high-resolution digital data by high-speed scanning.

Digital Pathology Market 2023-2030: Scope of the Report

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Digital Pathology Market Report – Key Takeaways:

• Storage Systems Product to Register Highest Growth

Storage Systems is analyzed to grow with the highest CAGR of 14.1% during the forecast period. With the increasing adoption of digital pathology workflows, there is a growing volume of digital pathology data that needs to be stored securely and efficiently.

Data security has always been a major challenge in hospitals and research organizations as the need to collect and store data for longer time period requires high standards of efficient and scalable storage solutions. The ability to analyze digital pathology data is a key advantage of digital pathology. Storage systems are therefore essential to support data analytics and machine learning applications.

• North America is Leading the Market

North America region held a major market share of 41% in 2022. North America has a well-established healthcare infrastructure with a large number of hospitals and diagnostic laboratories that are early adopters of advanced medical technologies, including digital pathology.

The development of advanced imaging technologies and digital pathology systems, such as whole slide imaging (WSI) and the increasing prevalence of cancer and cardiovascular diseases are some of the primary factors driving Digital Pathology market in this region

North America has a strong regulatory framework for medical devices and healthcare technologies, which provides assurance to healthcare providers and patients that digital pathology solutions meet quality and safety standards.

• Increasing Adoption of Cloud-Based Solutions

Cloud-based solutions can be accessed from anywhere, enabling pathologists to work remotely and collaborate with colleagues in real-time, which is particularly important in today’s globalized environment. Additionally, cloud-based solutions can easily scale up or down based on the needs of the organization, making it an attractive option for healthcare providers who want to expand their operations or reduce costs.

• Implementation of Digital Pathology in Low-resource Countries hinders Growth

Implementation of technologies in digital pathology in low-resource countries such as Nigeria and Sub-Saharan Africa comes with greater difficulty as being a remote area, there is a lack of training, internet accessibility, high equipment costs, and limited access to laboratory workstations. availability of investments and budgeting for pathology is relatively small in comparison to radiology and cardiology. The decline in the rates of reimbursements has slowed down the adoption of digital pathology in the private sector. There is an overall shortage of pathological services in the region. For example, in Nigeria, 1 pathologist caters to 2 million people.

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Key Opportunity Analysis:

• Integration of Artificial Intelligence (AI) and Machine Learning (ML)

        The integration of Artificial Intelligence and Machine Learning technologies into digital pathology solutions can help to automate image analysis, improve accuracy, and speed up diagnosis. The adoption of AI and ML in digital pathology is expected to increase in the coming years, providing new opportunities for growth and innovation. Many companies are entering into collaborations and partnerships to provide optimized integrated digital pathology workflows. In March 2023, Qritive and Corista announced a partnership to advance the use of computational digital pathology workflows with integrated image management. In the same month, Paige and Leica Biosystems also announced the expansion of their digital pathology partnership to enhance use of image management and artificial intelligence technology.

• Expansion into Emerging Markets

Emerging markets, such as Asia-Pacific are experiencing increasing demand for healthcare services, driven by factors such as population growth, rising income levels, and increasing prevalence of chronic diseases. There is a tremendous potential for digital pathology in emerging markets to improve patient care as it eliminates the use of slides and offers better settings for higher visualization. Several new companies are entering the digital pathology market. Example- In June 2022, Roche announced the launch of its next-generation VENTANA DP 600 slide scanner for digital pathology to enhance patient care with precision diagnosis.

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The Report also Covers the Following Areas:

• Digital Pathology Market Size and Forecast
• Digital Pathology Market Trends
• Digital Pathology Market Analysis by Product Type
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Digital Pathology Market 2023-2030: Key Highlights

• CAGR of the market during the forecast period 2023-2030
• Value Chain Analysis of key stakeholders
• Detailed Analysis of market drivers and opportunities during the forecast period
• Digital Pathology Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the Digital Pathology Market

Covid and Ukrainian Crisis Impact:

• With the need to minimize the risk of infection caused due to COVID-19, there has been a surge in demand for remote diagnosis solutions. Digital pathology enables remote diagnosis and therefore became an increasingly important tool during the COVID-19 pandemic. Overall, the COVID-19 pandemic accelerated the adoption of technologies of digital pathology.

• The Russia-Ukraine conflict has disrupted health care services in Ukraine, including in pathology. This has made it more difficult for health care providers to access the resources they need to provide adequate care. There is still potential for growth in the digital pathology market, particularly as the conflict begins to subside and health care providers can focus more on improving their services.

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List of Key Market Players in the Digital Pathology Market:

The Global Digital Pathology Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

1. Danaher Corporation
2. Koninklijke Philips N.V.
3. Hoffmann-La Roche Ltd.
4. Nikon Corporation
5. 3DHistech Ltd.
6. Mikroscan Technologies Inc.
7. Hamamatsu Photonics KK
8. Indica Labs Inc.
9. Visiopharm A/S
10. Huron Technologies International, Inc.

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