Digital Pathology Market - By Applications (Clinical Patholog, Molecular Diagnostics, Basic & Applied Research, Drug Development, Others), By Product (Equipment-Whole Slide Scanners[Brightfield Slide Scanners,Fluorescence Slide Scanners,Combination Slide Scanners],Clinical Microscope,Tissue Microarrays), Softwares(Image Viewing and Analysis Softwares[On-premise,Cloud-based], Digital Pathology Information Systems[On-premise,Cloud-based], Services[Installation and Integration Services,Consulting Services,Maintenance and Validation Services]), By End User (Hospitals, Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies,Forensic Laboratories, Research Institutes, Contract Research Organizations (CROs), Clinics), By Geography- Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Digital Pathology Market accounted USD 5.4 billion in 2020 and is anticipated to reach USD 19.2 billion by 2030, at a CAGR of 13.5% during the forecast period. It is an innovation predominantly committed to minimize laboratory expenses, increase operational efficiency, improving treatment decisions and patient care, and improved overall productivity. This technique incorporates the management, acquisition, sharing and interpretation of pathology information — which include slides and data — in a digital environment. Digital slides are produced when glass slides are apprehended with a scanning device, to deliver a high-resolution digital image that can be observed on a computer screen or mobile device. Virtual microscopy is a part of the market which enables to practice converting glass slides into digital slides that can be viewed, managed, shared and analyzed on a computer monitor. Among other applications of the market, digitalization of pathology has led to the mechanization of tests during disease diagnosis. The market proposes analysis & interpretation of images on a computer, high-resolution sample scanning, and online storage of digital slides, which enable pathologists to cross-examine slides without physical evidences. These digitized slides are presently considered as one of the most promising areas of diagnostic medicine in order to achieve accurate, feasible and faster diagnosis, prognosis and prediction of cancer and other important diseases. It is progressively used by large biopharmaceuticals and top clinical research organizations (CROs) to rationalize drug progress methods in discovery, pre-clinical and clinical trials.

Market Segmentation:

The global digital pathology market is segmented on the basis of application, product, end user, and region. Based on the application, it is classified into Clinical Patholog, Molecular Diagnostics, Basic & Applied Research, Drug Development, Others. Basis on product, the market is classified into Equipment, Softwares, and Services. On the basis of end user, the market is fragmented into Hospitals, Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, Forensic Laboratories, Research Institutes, Contract Research Organizations (CROs), Clinics. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Market Dynamics and Factors:

According to WHO cancer facts and figures, in 2018, approximately 1,735,350 new cases of cancer were diagnosed in the United States and it is anticipated that approximately 609,640 people will die from the disease. Rising severity of cancer is projected to create a high demand for the market. Biotech and pharma companies are predicted to show a stable growth during the forecast period. The growth is credited to enlarged use digitized slides in drug development, oncology clinical trials, and preclinical GLP pathology. The increasing application in drug discovery, increasing number of tele-consultations, rising adoption of technology to improve lab efficiency, and companion diagnostics are driving the market globally. However, unclear reimbursement policies, dearth of skilled personnel, and unwillingness of older pathologists to adopt new technology hamper the digital pathology market growth. Moreover, large hospitals with significant capital budgets can afford these systems, pathologists and academic institutes with limited budgets or IT support often cannot afford them. This limits the uptake of these systems. On the other hand, rise in initiatives toward commercialization of cost-efficient systems and increasing R&D is anticipated to offer profitable growth opportunities the market and its service providers in the future.

Geographic Analysis:

In 2018, North America held the largest market share in terms of revenue and it is expected to dominate the overall market throughout the forecast period. The presence of high per capita healthcare expenditure,  Continual deployment of R&D investments, and the well-established IT and healthcare infrastructure and the presence of major players are the key contributing factors contributing to the growth of the market in the region. Furthermore, clinical segment will show fastest market growth due to rise in number of clinics incorporating digital pathology over traditional pathology, which is expected to augment the market growth. Moreover the surge in adoption of modern technology over the traditional methods boost the growth of the market in North America. However, Asia-Pacific is expected to record itself as highest growing segment during the forecasted period, at a CAGR of 13.4%; in the near future, owing to emergence in awareness related to the market. The other factors that propel the growth of the market comprise the existence of huge patient’s base suffering from chronic & infectious diseases and rise in healthcare expenditure in the region. Furthermore, the constantly evolving life science industry is anticipated to offer lucrative opportunities for the market expansion in the developing economies such as India, China, and Malaysia.  Asia Pacific is expected to register the fastest CAGR of over 12% during the forecast period due to the rising penetration of digital imaging in emerging economies, investments in the medical field, and the presence of available opportunities like increased RnD activities and various government initiatives towards healthcare. The healthcare industry in this region has highly influenced the market due to increased incidence of cancer, which affects a large population. Similarly, increasing demand for novel treatment options, reduction in laboratory expenses, and better patient care facilities are expected to further drive the demand.

Competitive Scenario:

The major players operating in the market include Leica Biosystems, Ventana Medical Systems, Hamamatsu Photonics, 3DHISTECH, Philips, Apollo Enterprise Imaging, XIFIN, Visiopharm, Corista, Huron Digital Pathology, Objective Pathology Services, and Indica Labs.

Digital Pathology Market Report Scope