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Digital Pathology Market by Offering (Hardware [Scanner, Tissue Microarray], Software [Information Management, Image Analysis], Service), Application (Diagnostic, Drug Discovery, Training), End User (Hospital, Academic Institute) - Global Forecast to 2030
Report ID: MRHC - 104749 Pages: 185 Jun-2024 Formats*: PDF Category: Healthcare Delivery: 24 to 72 Hours Download Free Sample ReportDigital pathology entails the interpretation and management of pathology information derived from digitized glass slides. It has become a mainstream choice for routine diagnostics and drug development. The adoption of digital pathology has surged owing to its diverse advantages, such as real-time sharing of video streams and digital images. Moreover, the integration of machine learning (ML) allows image assessments beyond traditional histopathology by connecting AI with clinical data.
Furthermore, the rising adoption of digital pathology has led to the emergence of virtual pathology, creating new opportunities for teleconsulting. Moreover, computer-aided diagnosis by digital images produces more precise and accurate results than a traditional microscope offering. The technology is gaining prominence due to growing requirements in anatomical pathology applications for quantitative image analysis. These emerging imaging tools enable pathologists to conduct more consistent and accurate diagnoses.
Digital pathology enables pathologists to collaborate and work remotely on cases by improving the accuracy of diagnostic techniques and allowing the sharing of digital images beyond geographical limitations. Before the outbreak of COVID-19, the adoption of digital pathology was extremely low due to stringent federal regulations of the U.S. FDA. The adoption increased due to the relaxation of FDA requirements for validating and approving digital pathology-related technology to meet the increased demand during the pandemic. Furthermore, the Centers for Medicare & Medicaid Services waived the Clinical Laboratory Improvement Amendments restrictions, allowing pathologists to use digital pathology platforms from their homes. Hence, the COVID-19 pandemic supported the adoption of digital pathology, allowing pathologists and physicians to deliver remote support & care to patients.
According to the data released by Pathcore Inc. (Canada) in January 2020, the number of pathologists in the U.S. is declining. Amid the decline in the number of pathologists and the rise in workloads, many pathologists are adopting digital pathology tools with AI in their clinical practice. AI allows pathologists to conduct preliminary assessments for high-risk and complex cases and manage the vast amount of data created for improving pathologic classification, diagnosis, and disease predictions.
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According to the Centers for Disease Control and Prevention, chronic diseases such as cancer, diabetes, and cardiovascular diseases are major causes of disability and death in the U.S. and account for USD 4.1 trillion of the nation’s annual healthcare costs. As of July 2022, six in ten adults have a chronic disease in the U.S. and four in ten suffer from two or more chronic diseases.
As per the data published by the WHO, it is expected that by 2030, 1 in six people globally will be more than 60 years old. By 2050, the global population aged 60 and above is likely to increase to nearly 2.1 billion. Additionally, the number of individuals aged 80 or older is expected to reach 426 million between 2020 and 2050. The prevalence of chronic diseases is higher among the elderly population. Thus, the rising aging population and the subsequent increase in cancer & other chronic diseases are expected to drive the demand for more precise and accurate diagnosis, driving the growth of the digital pathology market.
The large market share of this segment is attributed to the increasing number of laboratories, the rising number of patients requiring in vitro tests, and the growing need for timely and accurate disease treatment. The hardware segment is further subsegmented into tissue microarrays, scanners, and other hardware. The large market share of the hardware segment is attributed to the increased demand for scanners for R&D activities, the rising prevalence of chronic diseases, and the high adoption of digital pathology systems.
The large market share of this segment is attributed to the high burden of chronic diseases, the high adoption of teleconsulting, and the rising awareness about the importance of early disease diagnosis is driving the demand for digital pathology solutions.
The large market share of this segment is attributed to the rising number of hospitals & clinics, the rise in the number of hospitalizations for the treatment of chronic diseases, and the increasing installation of digital pathology systems and tools in the healthcare sector in developed countries. Additionally, strategic collaborations among hospitals and key market players for launching advanced products are expected to drive the market’s growth. For instance, in May 2022, Sectra AB (Sweden) signed an agreement with UniHA, a cooperative of French public hospitals, for Spectra’s digital pathology. This agreement enabled the hospitals to purchase Sectra’s solution without undertaking a public tender process on preconditioned terms and conditions.
The growth of this regional market is attributed to the increasing geriatric population in countries such as China and India, the rising adoption of advanced healthcare solutions in developing countries, the rising disposable incomes among the population, and the rising awareness about the advantages of digital pathology.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading market players between 2020 and 2022. The key players profiled in the digital pathology market report are 3DHISTECH Ltd. (Hungary), Leica Microsystems (a subsidiary of Danaher Corporation) (Germany), Hamamatsu Photonics K.K. (Japan), Nikon Corporation (Japan), Visiopharm A/S (Denmark), Koninklijke Philips N.V.(Netherlands), F. Hoffmann-La Roche Ltd (Switzerland), Glencoe Software, Inc. (U.S.), XIFIN, Inc. (U.S.), and PerkinElmer Inc.(U.S.).
This study offers a detailed assessment of the digital pathology market and provides the sizes & forecasts for the digital pathology market based on offering, application, and end user. The report also offers the value analysis of various segments and subsegments of the digital pathology market at the regional and country levels.
The global digital pathology market is projected to reach $1.86 billion by 2030, at a CAGR of 8.7% during the forecast period.
Based on offering, in 2024, the hardware segment accounted for the largest share of the digital pathology market. The large market share of this segment is attributed to the increased demand for scanners for R&D activities, the rising prevalence of chronic diseases, and the high adoption of digital pathology systems.
Based on application, the disease diagnosis segment held the major share of the digital pathology market in 2024. The large market share of this segment is attributed to the rise in the geriatric population globally and the high burden of chronic diseases.
The growth of this market is attributed to the high prevalence of cancer, the increasing availability of biomarkers and research on biomarkers, the growing number of clinical trials for oncology drugs, the rising demand for accurate detection of genetic and rare diseases, and the high adoption of teleconsulting. Furthermore, growing interests in precision medicine and emerging economies are expected to offer significant opportunities for the market’s growth.
The major players operating in the digital pathology market include 3DHISTECH Ltd. (Hungary), Leica Microsystems (a subsidiary of Danaher Corporation) (Germany), Hamamatsu Photonics K.K. (Japan), Nikon Corporation (Japan), Visiopharm A/S (Denmark), Koninklijke Philips N.V. (Netherlands), F. Hoffmann-La Roche Ltd (Switzerland), Glencoe Software, Inc. (U.S.), XIFIN, Inc. (U.S.), and PerkinElmer Inc. (U.S.).
Emerging economies such as China and India are projected to offer significant growth opportunities to the market players due to rising hospitalization rates, high prevalence of chronic diseases, increasing purchasing power, rising healthcare spending, and developing healthcare infrastructure.
Published Date: Sep-2024
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