Based on SNS Insider analysis, there is a growing shortage of pathologists worldwide, which is driving the adoption of digital pathology. Remote access to digitized samples can help alleviate this shortage by enabling pathologists to work from anywhere, collaborate with other experts, and provide faster diagnoses.
Pune, April 27, 2023 (GLOBE NEWSWIRE) -- The Digital Pathology Market was estimated to be worth USD 1006 million annually by 2022, and it is projected to grow to USD 1782 million by 2030, with a CAGR of 7.4% between 2023 and 2030, according to SNS Insider's report.
Digital pathology is a modern approach to the field of pathology that involves the use of advanced digital imaging technology to analyze and interpret tissue samples. This technology enables pathologists to remotely access and examine digitized samples of tissue and make accurate diagnoses, even in cases where a physical examination of the sample is not possible. Furthermore, digital pathology has the potential to enhance patient care and outcomes by allowing for more accurate and precise diagnoses. It can also help reduce healthcare costs by optimizing laboratory workflows and reducing the need for physical storage space.
The digital pathology market has been experiencing significant growth, and this can be attributed to the increasing focus on improving workflow efficiency and the demand for faster diagnostic tools for chronic diseases, particularly cancer. The market has been driven by several factors, including the rising prevalence of chronic diseases, the need for more efficient and accurate diagnostic solutions, and the increasing geriatric population, which is more susceptible to chronic conditions. One of the primary drivers of the market is the need for more efficient diagnostic tools for chronic diseases, such as cancer.
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Key Company Profiles Listed in this Report Are:
Some of the major key players are as follows: 3DHISTECH Ltd., F. Hoffmann-La Roche Ltd., Hamamatsu Photonics, Inc., Huron Technologies International, Inc., Inspirata, Inc., Koninklijke Philips N.V., Leica Biosystems (Danaher), Mikroscan Technologies, Olympus Corporation, Visiopharm A/S, and other players.
Digital Pathology Market Report Scope:
Market Size in 2022
US$ 1006 Million
Market Size by 2030
US$ 1782 Million
CAGR of 7.4% From 2023 to 2030
Digital Pathology Market: Key Segmentation
• By Product (Scanners (Brightfield, Other Scanners), Software (Integrated Software, Standalone Software, Information Management Software, Image Analysis Software), Storage Systems), Type (Human Pathology, Veterinary Pathology)
Key Regional Coverage
North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Impact of Recession on Digital Pathology Market Growth
The digital pathology market is a rapidly growing industry that involves the digitization of pathology slides for the purposes of diagnosis, research, and education. However, like any other industry, it is not immune to the effects of a recession. However, it is worth noting that the market has shown resilience in the face of economic downturns in the past. This is because digital pathology solutions have the potential to improve efficiency, reduce costs, and enhance patient care, which can be particularly important during a recession.
Key Regional Developments
The North American region has emerged as the dominant revenue contributor to the global digital pathology market. The growth of this market can be attributed to several factors, including the continual deployment of research and development investments, supportive government initiatives, and the rising adoption of digital imaging technologies in the region. The North American region is home to some of the world's leading research institutions and academic centers, which have been at the forefront of developing technologically advanced digital pathology systems.
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Key Takeaway from Digital Pathology Market Study
The drug discovery segment is expected to be a major driver of growth in the market. The use of digital pathology in drug discovery has increased in recent years, as it enables researchers to analyze the effects of potential drug candidates on tissue samples.
The integrated software segment is expected to dominate the market due to the increasing demand for end-to-end digital pathology solutions that integrate various software modules for improved workflow efficiency.
Recent Developments Related to Digital Pathology Market
Deciphex, a leading provider of digital pathology services, has announced the expansion of its facility in Exeter, UK. The move is aimed at meeting the growing demand for digital pathology services in the region and improving the company's ability to deliver cutting-edge diagnostic solutions.
Indica Labs and Lunit, two leading companies in the digital pathology space, have announced a strategic alliance to provide seamless integrated digital pathology artificial intelligence (AI) workflows. The collaboration is expected to revolutionize the field of digital pathology by combining the strengths of both companies to provide a more comprehensive and efficient diagnostic solution for healthcare professionals.
Table of Contents
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Digital Pathology Market Segmentation, By Product
9. Digital Pathology Market Segmentation, By Type
10. Digital Pathology Market Segmentation, By Application
11. Digital Pathology Market Segmentation, By End User
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
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