Digital Pathology Market Analysis Predictions suggest a rise of 10.3% CAGR to reach value of USD 2.9 Billion by 2032
Acumen Research and Consulting recently published report titled “Digital Pathology Market Forecast, 2023 – 2032”
LOS ANGELES, July 26, 2023 (GLOBE NEWSWIRE) — The Global Digital Pathology Market is poised for robust growth over the coming decade driven by the increasing adoption of digital workflows, automation, and AI-based solutions in pathology laboratories and hospitals worldwide. Digital pathology involves the acquisition, management, analysis, sharing and interpretation of pathology information including slides and data in a digital format enabling faster diagnoses. This article provides a comprehensive 360-degree analysis of the digital pathology market covering key growth metrics, trends, drivers, challenges, regional outlook, and assessment of the competitive landscape.
Digital Pathology Market Size and Key Statistics:
- The Total Valuation of the Global Digital Pathology Market stood at USD 1.1 billion in 2022. It is projected to grow at a healthy CAGR of 10.3% between 2023 and 2032.
- North America held the maximum revenue share of over 41% in 2022 owing to favorable reimbursement policies, developed healthcare infrastructure, and higher adoption of digital solutions.
- By product type, device segment accounted for the dominant share in 2022 due to rapid advancements in the imaging technology and the slide scanning system.
- The increasing emphasis on preventive medicine, personalized therapies, and companion diagnostics is a major factor driving the growth of the digital pathology market.
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Digital Pathology Market Report Coverage:
|Digital Pathology Market
|Digital Pathology Market Size 2022
|USD 1.1 Billion
|Digital Pathology Market Forecast 2032
|USD 2.9 Billion
|Digital Pathology Market CAGR During 2023 – 2032
|Digital Pathology Market Analysis Period
|2020 – 2032
|Digital Pathology Market Base Year
|Digital Pathology Market Forecast Data
|2023 – 2032
|By Product, By Application, By End-use, And By Geography
|Digital Pathology Market Regional Scope
|North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
|Key Companies Profiled
|Philips Healthcare, Leica Biosystems Nussloch GmbH (Danaher Corporation), Roche Diagnostics, Hamamatsu Photonics K.K., Ventana Medical Systems, Inc. (Roche), Olympus Corporation, Nikon Corporation, Sectra AB, Visiopharm A/S, Indica Labs, Inc., Huron Digital Pathology Inc., and 3DHISTECH Ltd.
|Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
In-depth Digital Pathology Market Overview and Insights:
The global digital pathology market outlook remains decisively positive for the coming years, driven by the ongoing digital transformation of healthcare infrastructure and the rising adoption of advanced diagnosis and treatment techniques globally. The integration of digital pathology systems enables faster diagnostic turnaround times, improved laboratory productivity and efficiency, better patient outcomes, and cost savings. The COVID-19 pandemic further accelerated the adoption of digital workflows and solutions while maintaining social distancing norms and safety. Additionally, favorable reimbursement scenarios particularly in the U.S. are a key driving factor. However, the high costs associated with digital pathology hardware, software, and systems remains a major adoption challenge, especially in developing regions.
Digital Pathology Market Trends and Innovations:
- Growing popularity of cloud-based digital pathology platforms enabling easy storage and accessibility.
- Rising utilization of AI-powered diagnostic algorithms for better accuracy, productivity, and clinical decision support.
- Increasing research and development of multiplexed in-vitro diagnostic assays for tissue stain analysis.
- Ongoing technological advancements in whole slide imaging scanners, automated slide feeders, and analysis software for enhanced efficiency.
- Adoption of hybrid models combining high-throughput digital pathology systems with traditional microscopy.
Digital Pathology Market Major Growth Factors:
Rising prevalence of chronic diseases such as cancer globally, driving biopsy volumes and the need for faster diagnoses.
Growing emphasis on early detection, preventive medicine, personalized therapies, and companion diagnostics.
Increasing need for more accurate and faster diagnostic insights for better patient outcomes.
Focus on enhancing pathology laboratory productivity, efficiency, and cost-effectiveness.
Government investments in digitalizing healthcare infrastructure and adoption of connected solutions.
Key Challenges Hindering Market Growth:
- High costs of digital pathology hardware, software, and overall systems limiting adoption by smaller hospitals and clinics.
- Reimbursement limitations and budget constraints in emerging economies.
- Regulatory uncertainties related to primary diagnosis using digital pathology solutions.
- Shortage of skilled professionals and pathologists trained in using digital workflows.
- Growing data privacy and security concerns related to digital storage and transmission of sensitive patient data.
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Segmentation Analysis of the Digital Pathology Market:
As per the Product
- Storage System
As per the Application
- Disease Diagnosis
- Academic Research
- Drug Discovery & Development
As per the End-uses
- Diagnostic Labs
- Biotech and Pharma Companies
- Academic and Research Institutes
Digital Pathology Market Regional Outlook and Analysis:
North America commanded the largest revenue share in 2022 owing to higher digital literacy, favorable reimbursements, and advanced healthcare infrastructure. Europe accounted for the second largest market share driven by rising chronic disorders and aging demographics. The Asia Pacific market will showcase exponential growth over the coming years due to improving healthcare expenditure and adoption of advanced diagnosis techniques.
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Digital Pathology Market Key Players and Competitive Landscape:
Some of the top companies operating in the Global Digital Pathology Market include 3DHISTECH Ltd., Koninklijke Philips N.V., Hamamatsu Photonics K.K., F. Hoffmann-La Roche Ltd., Olympus Corporation, PerkinElmer Inc., Sectra AB, Danaher Corporation, Mikroscan Technologies, Inc., and others.
Driven by the digitalization and automation of healthcare services globally, the digital pathology market is primed for robust growth during the forecast period. Advancements in whole slide imaging, computational power, cloud storage capabilities will further boost adoption across clinical and research settings. However, reimbursement limitations in developing countries remain a constraint.
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Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
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