The global digital pathology market is on track to witness exponential growth, with a projected valuation of USD 7,035.8 million in 2023. According to the latest market analysis, this dynamic market is expected to surge to an impressive USD 24,961.8 million by 2033, reflecting a remarkable Compound Annual Growth Rate (CAGR) of 13.5% during the forecast period from 2023 to 2033.
Digital pathology, also known as virtual microscopy, is revolutionizing the field of pathology by enabling the digitization of tissue samples for analysis, diagnosis, and research purposes. This transformative technology offers numerous advantages over traditional microscopy, including enhanced accuracy, efficiency, and remote accessibility of pathology data.
The market for digital pathology is expanding due to two main factors: the growing use of advanced analytics in pharmaceutical and medical tests. The industry is expanding as a result of the application of analytics for fraud detection and claim management by government agencies and healthcare financing companies.
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Surge in R&D in Digital Pathology to Augment Sales in Forthcoming Years
In recent years, the digital pathology industry has increased investments in biosimilar research and development initiatives, primarily for cancer treatment and Covid-19 treatment, which have substantially fuelled the market expansion.
Contract Research Organizations (CROs), in-vitro diagnostics (IVD) laboratories, clinical laboratories, and regulatory consultants are being assigned biosimilar development responsibilities by pharmaceutical corporations. These enterprises are developing in order to provide more cost-efficient solutions to their customers, requiring the use of digital pathology instruments to diagnose, research, and design effective healthcare solutions.
Cancer diagnostic Opens New Avenues for Digital Pathology Companies
Due to the sheer increasing occurrence of cancer, there is an increase in spending on digital pathology equipment. Complications arising from late cancer diagnosis, particularly in the case of blood cancer and lung cancer, necessitate the use of significant capital resources during therapy and diagnosis. The success of digital pathology in research is driving demand for these systems in the cancer research industry. This is also encouraging government investors to invest in digital pathology systems for clinical diagnosis. A significant amount of money is spent on cancer diagnosis and therapy monitoring. This explains why digital pathology solutions are in high demand.
Competitive Landscape
- Danaher Corporation
- F. Hoffmann-La Roche AG
- Huron Technologies International Inc.
- Koninklijke Philips N.V.
- Olympus Corporation
- Hamamatsu Photonics K.K.
- Carl Zeiss AG
- Nikon Corporation
- 3DHISTECH Ltd.
- Hologic Inc.
- PerkinElmer, Inc.
- Visiopharm
- OptraSCAN, Inc.
- Inspirata, Inc.
- Sectra AB
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Some of the recent developments in digital pathology market are as follows:
- In May 2021, Leica Biosystems joined the European Society for Digital and Integrative Pathology (ESDIP) to assist pathology labs in developing laboratories in accordance with modern digital pathology instruments.
- In March 2021, Roche inked a comprehensive merger agreement with GenMark Diagnostics to broaden its product and distribution channel for European consumers.
Key Segments:
Digital Pathology by Product Type:
- Digital Pathology Equipment
- Whole Slide Scanners
- Brightfield Slide Scanners
- Fluorescence Slide Scanners
- Combination Slide Scanners
- Clinical Microscope
- Tissue Microarrays
- Digital Pathology Software
- Image Viewing and Analysis Software
- On-premise
- Cloud-based
- Digital Pathology Information Systems
- On-premise
- Cloud-based
- Digital Pathology Services
- Installation and Integration Services
- Consulting Services
- Maintenance and Validation Services
Digital Pathology by Application:
- Clinical Pathology
- Molecular Diagnostics
- Basic & Applied Research
- Drug Development
- Others
Digital Pathology by End User:
- Hospitals
- Diagnostic Laboratories
- Pharmaceutical & Biotechnology Companies
- Forensic Laboratories
- Research Institutes
- Contract Research Organizations (CROs)
- Clinics
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