Digital Pathology Market is Expected to Reach USD 1.7 Billion By 2030

August 2022, Market Research Future has published a Report on the Global Digital Pathology Market.

Overview 

The global digital pathology market, during the forecast period 2023 to 2030, will register growth at a CAGR of 6.5%. The market for digital pathology is set to reach USD 1.7 billion by 2030. As per digital pathology market analysts, the global market is anticipated to witness growth owing to the factors such as hospitals and clinics choosing electronic health records (EHRs) as well as the need for automation integration. However, the digital pathology market will face challenges and restraints due to the high cost and lack of expertise during the forecast period 2023 to 2030.

Technological improvements in software for image analysis in the digital pathology market is set to play a key role in determining the growth potential during 2023 to 2030 years. Analysts have also studied the digital pathology market to understand potential threats and challenges the digital pathology market companies could face. Although the digital pathology market is poised to grow at a fast pace across end-users, product, type, and applications segments, factors such as high implementation cost could slow down the digital pathology market's growth worldwide.

Market Segmentation

The digital pathology market has been segmented into end-users, product, type, and applications. Based on the segment which is end-users, the market is categorized on the basis of diagnostic centers, hospitals & clinics, and research centers & academic institutes. The global market for digital pathology is further segmented based on product into hardware, software, and storage. Furthermore, the market, on the basis of type, is segmented into human pathology and animal pathology. Based on the segment which is applications, the market is categorized on the basis of disease diagnosis, drug discovery, mHealth, and telemedicine. 

The global digital pathology market research report covers all the aspects of the digital pathology market based on the segmental analysis of these end-users, product, type, and applications segments. Analysts have also studied the global digital pathology market's regional markets spread across many continents and countries. The end-users, product, type, and applications segments along with their sub-segments have been analyzed and companies functioning in the digital pathology market across these segments are profiled and analyzed based on input and feedback from digital pathology market based decision makers as well as primary and secondary sources. The digital pathology market research report presents analysis based information for companies functioning in the digital pathology market.

Explore In-depth Details: Digital Pathology Market Research Report

Regional Overview 

The high cost associated with implementation and integration may hinder the digital pathology market growth. The market research report suggests that companies in the digital pathology market could be supported by speedy technological advances in the digital pathology system as well as laboratory efficiency improvements during the forecast period. The digital pathology market is set to register growth at a high CAGR owing to these key factors. The digital pathology market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global digital pathology market research report reveals that APAC, North America, and Europe regional digital pathology markets will dominate the global market for digital pathology during the forecast period 2023 to 2030. As per digital pathology market analysts, the market is set to witness tremendous growth across hardware products, early diagnosis, and research centres & academic institutes segments in North America which covers digital pathology markets across the United States, Canada, Mexico and several other regional markets. Companies active in the digital pathology market are also analyzed and studied in the digital pathology market research report.

The digital pathology market for Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the digital pathology market research report covers the Asia-Pacific region covering digital pathology markets from India, China, Japan, Australia, and others. The digital pathology market is also spread across the rest of the world. The digital pathology market report covers all such regions including the Middle East, Africa, Brazil, and others.

Competitive Landscape

Digital pathology has seen increased demand over the years, due to advances in digital imaging and developments in robotic light microscopy. Companies functioning in the global digital pathology market are also being challenged due to high cost of devices and software solutions and lack of developed infrastructure. Mergers and acquisitions by digital pathology market companies are anticipated to help the market during the forecast period 2023 to 2030. The report suggests that the digital pathology market will see a healthy growth in the long run till 2030. Based on SWOT analysis and digital pathology market’s analysis based on Porters’ Five Force Model presented in the digital pathology market report. Mergers and acquisitions by digital pathology market companies are anticipated to help the market during the forecast period 2023 to 2030.

Industry News

Philips has completed its acquisition of PathXL, a pioneer in automated pathology image processing, workflow applications, and educational tools headquartered in Northern Ireland. Philips' Digital Pathology Solutions will benefit from PathXL's image recognition and tissue pathology tools, which will help the company extend its leadership in this fast-growing area. The transaction's financial specifics were not revealed. Pathology is the study of patient tissue samples and is useful in the diagnosis and management of a broad range of diseases, especially cancer.