CAGR: 13.7%Current Market Size: USD 714.6 MillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global digital pathology market is expected to grow from USD 714.6 million in 2022 to USD 1995.9 million by 2030, at a CAGR of 13.7% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the efficiency and accuracy associated with digital pathology, in order to provide proper treatment to the patient.
The field of digital pathology entails the acquisition, management, sharing, interpretation, and archiving of pathology information, including slides and data, in a digital environment. Pathologists can use digital pathology to engage, evaluate, and collaborate rapidly and remotely, improve efficiency, and increase productivity. It is expected that the digital pathology market will continue to grow due to the increasing number of teleconsultations, the increasing adoption of digital pathology for lab efficiency, and the increasing use in drug discovery and companion diagnostics. Due to the integration of digital pathology with digital tools, barcoding, digital dictation, etc., digital pathology is also used more in disease diagnosis, which improves the safety and efficiency of the diagnosis process in pathology laboratories. Collaborations among researchers and the growth of digital documentation across all scientific disciplines are driving the adoption of digital pathology solutions. Healthcare IT solutions are also gaining in popularity, further increasing the demand for these solutions. With the help of these solutions, organizations are reducing costs, reducing resource bottlenecks, automating processes, and sharing content more efficiently. There is great potential in digital pathology for treating a wide range of diseases. Digital pathology is a significant part of this research. The digital pathology market is also growing as a result of increased usage in drug development and companion diagnostics, as well as an increase in healthcare spending in developing countries.
Sample Request: - Global Digital Pathology Market
Market Dynamics:
Drivers:
With digital pathology, users are provided with access to subject matter expertise, reduce turnaround times, and have the complete picture with no delay. As physicians and patients rely entirely on lab results for the diagnosis and treatment of diseases, improving lab results is essential. Digital pathology is experiencing rapid growth as a result of increasing demand for accurate, efficient, and quick lab results.
Restraints:
The market is witnessing immense growth but there are some factors which are hindering the market growth such as a lack of trained professionals. An alarming shortage of pathologists during the Projection period is expected to hamper the market growth. Pathologists perform disease diagnosis via laboratory tests, but the shortage of trained pathologists is a challenge to the growth of the market.
Opportunities:
The market will grow during the Projection period due to the increasing demand for personalized medicines for treating a variety of diseases. Providing curated laboratory results is crucial to the development of personalized medicines, which are accurate results of all pathology tests performed within a short period of time. The development of customized medicines will create new growth opportunities for the market.
Challenges:
As a result, several pathology labs cannot afford to purchase the digital pathology system because it consists of an image server, a slide scanner, and software. This restrains the market growth during the Projection period because it cannot be afforded by several pathology labs. The majority of private medical clinics cannot afford these digital pathology systems because they are small businesses that have very few financial resources.
Segmentation Analysis:
The global digital pathology market has been segmented based on product, security, application, and region.
By Product
The product segment includes hardware and software. The hardware segment led the largest share of the digital pathology market with a market share of around 58% in 2022. In the digital pathology market, the hardware segment is expected to have the largest share. As chronic diseases have become more common globally, the need for precise diagnosis and personalized care pathways has increased, and pathology is evolving into a digital discipline, which in turn increases hardware demand.
By Application
The application segment includes drug discovery, training & education, teleconsultation, disease diagnosis and others. The drug discovery segment led the largest share of the digital pathology market with a market share of around 46.7% in 2022. There is an expected rapid growth of the drug discovery segment over the Projection period due to the growth of the segment driven by the increasing use of digital pathology results in drug discovery. A key reason for the segment's growth is its ability to find drugs to treat chronic diseases early.
By End-User
The end-user segment includes hospitals, pharma & biotech, reference laboratories and others. The pharma & biotech segment led the largest share of the digital pathology market with a market share of around 43% in 2022. Pharma & biotech companies accounted for around 43% of global revenue in 2021, dominating the market. Biotechnology companies have incorporated digital pathology into biopharmaceutical studies, biobanking, molecular assays, and the development of individualized medicines, driving the market. In addition, the segment is being driven by increased awareness about digital pathology in drug discovery.
Global Digital Pathology Market- Sales Analysis.
The sale of digital pathology expanded at a CAGR of 13.1% from 2016 to 2023
Digital pathology will be increasingly popular in the coming years due to advancements in technologies such as computerization, robotic light microscopy, and fiber optic communications. Cloud-based technology, on the other hand, allows pathologists to store digital slides with protected access, which will also contribute to the future growth of the digital pathology market.
AI is gaining traction in healthcare, with a growing focus on improving patient care through the application of AI in a number of healthcare services, including pathological diagnosis. AI-based tools, such as clinical decision support systems, simplify hospital workflow processes and improve medical care, improving patient care.
In addition to the growing number of teleconsultations, digital pathology is also being utilized for drug discovery and companion diagnostics to improve lab efficiency. As a result of the integration of digital pathology with digital tools, barcoding, specimen tracking, and digital dictation, digital pathology is also being used more often in disease diagnosis.
Thus, owing to the aforementioned factors, the global digital pathology market is expected to grow at a CAGR of 13.7% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the digital pathology market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the digital pathology market and held a 39.1% share of the market revenue in 2022.
Global Digital Pathology Market - Country Analysis:
Germany's digital pathology market size was valued at USD 53.5 million in 2022 and is expected to reach USD 150.48 million by 2030, at a CAGR of 13.8% from 2023 to 2030.
Among the factors that are driving the market in the region are the high productivity of digital pathology, the ability to transmit glass slides in virtual form quickly, and the cost-effectiveness of digital pathology. A major strength of this region is its innovative and financially budgeted medical technology industry, which will increase the adoption of digital pathology.
China’s digital pathology market size was valued at USD 55.7 million in 2022 and is expected to reach USD 158.8 million by 2030, at a CAGR of 14% from 2023 to 2030.
With an increase in the population of elderly people in China, the Digital Pathology market is expected to grow during the Projection period. Additionally, the increasing demand for Digital Pathology in the healthcare industry is driving its growth. As a result of advances such as microarrays and the incorporation of multiple predictive models, including hybrid models and API algorithms, the demand for digital image analysis is expected to continue to rise.
India's digital pathology market size was valued at USD 42.8 million in 2022 and is expected to reach USD 121.23 million by 2030, at a CAGR of 13.9% from 2023 to 2030.
As a result of factors such as the growing burden of chronic diseases, the adoption of technologies for chronic disease management, and initiatives taken by the key market players, the market is expected to grow in the country during the Projection period. By adopting these solutions, organizations decrease costs, reduce resource bottlenecks, automate processes, and effectively share content.
Key Industry Players Analysis:
To increase their market position in the global digital pathology market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
13.7% |
Market Size |
714.6 million in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product, By Application, By End-User, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
OptraSCAN, XIFIN Inc., Indica Labs, F. Hoffmann-La Roche Ltd., Huron Digital Pathology, Visionpharm A/S, Corsita, Lecia Biosystems, Apollo Enterprise Imaging, Aiforia Technologies Oy, Objective Pathology Services, and Koninklijke Philips NV. |
By Product |
|
By Application |
|
By End-User |
|
Regional scope |
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Scope of the Report
Global Digital Pathology Market by Product:
Global Digital Pathology Market by Application:
Global Digital Pathology Market by End-User:
Global Digital Pathology Market by Region:
Global digital pathology market is expected to reach USD 1995.9 million by 2030, at a CAGR of 13.7% from 2023 to 2030.
Customized medicines demand is increasing and rising demand for digital pathology.
North American region will witness more growth in the digital pathology market.
Based on the product, the digital pathology market is segmented into hardware and software.
Leading players in the digital pathology market are OptraSCAN, XIFIN Inc., Indica Labs, F. Hoffmann-La Roche Ltd., Huron Digital Pathology, Visionpharm A/S, Corsita, Lecia Biosystems, Apollo Enterprise Imaging, Aiforia Technologies Oy, Objective Pathology Services, Koninklijke Philips NV. among others.
Political Factors- Digital pathology Market should carefully study the objections of pressure organisations, social and environmental campaigners, and labour unions because they have a substantial impact on how policies are established. Close collaboration with these organisations may boost Digital pathology Market capability for community participation and long-term company goals. Furthermore, a well-developed governance structure and a democratic political climate benefit multinational firm such as Digital Pathology Market. Frequent changes in government policy make the environment more uncertain, which is detrimental to corporate success. The digital pathology Market must regularly observe the nation's political atmosphere since changes in power may impact the government's priorities for the growth of specific industries.
Economic Factors- Economic development has a direct impact on organisational performance. Growing economies offer several opportunities for growth in the Digital Pathology Market. Similarly, understanding the stage of the industrial lifecycle is crucial. Entering mature sectors may be more difficult than entering enterprises in the growth stage due to market saturation. Furthermore, the amount of money invested in key infrastructure development by the host country's government has an impact on the financial performance of the Digital Pathology Market. A well-developed infrastructure facilitates business, which also increases the potential expansion of the gold sector in the individual country.
Social Factors- Culture is an important component for international marketing managers. Every civilisation has its own set of rules and values that influence how individuals behave as consumers. To better comprehend society's perspectives and conventions, and to devise marketing methods that are suited for the local environment, the Digital pathology Market should form local alliances and teams. The study of socioeconomic class stratification is critical for the Digital Pathology Market. To supply luxury items at a premium price to a market where the high-end consumer is significantly underrepresented, the Digital pathology Market will need to adopt specialised marketing strategies. Market segmentation based on social class may also be unsuccessful in locations with little social class stratification.
Technological Factors- Digital pathology Market must consider rivals' micro- and macro-level investments to comprehend how new technologies affect the firm's value chain and present cost structure. In an environment characterised by creative disruption, R&D initiatives are critical. In such a case, Digital pathology Market should invest in disruptive technologies and reinvest the proceeds in even more disruptive technologies in the future to maximise earnings. The adoption of new technology has shortened the lifecycle of developing new items. Today, new products are developed quickly, and supply chain partners wield more power.
Environmental Factors- Weather and climate change can have an impact on how well firms run. Severe weather, for example, may raise operating costs and drive the Digital pathology Market to make the value chain more responsive. These changes may also have an impact on consumer purchasing behaviours, necessitating a company's product and marketing strategies to be adjusted. Green/eco-friendly products are growing more popular. To acquire the trust of stakeholders, the Digital pathology Market can embrace the opportunity and implement environmentally responsible corporate practises. Product innovation priorities are shifting as a result of regulatory organisations' emphasis on assuring compliance with environmental regulations. The Digital Pathology Market must place a greater emphasis on selling their devices' environmental friendliness rather than their traditional value propositions.
Legal Factors- Because several countries have strict restrictions in place to preserve labour safety, the Digital pathology Market must follow the laws controlling employee/labor health and safety. Digital pathology Market has an ethical and moral obligation to provide a safe working environment for its employees. Similarly, anti-discrimination regulations (such as equal employment opportunity laws) must be carefully considered when designing human resource practises, as discriminating litigation against employers undermine the organization's reputation and impair its ability to attract and retain talent. Consumers' privacy and security concerns have made data protection a critical issue.
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