The global digital pathology market size was worth around USD 725.10 million in 2021 and is estimated to grow to about USD 1,493.66 million by 2028

SUITE N202, NEW YORK, UNITED STATES, December 12, 2022 /EINPresswire.com/ -- The global digital pathology market was worth around USD 725.10 million in 2021 and is estimated to grow to about USD 1493.66 million by 2028, with a compound annual growth rate (CAGR) of approximately 12.8 percent over the forecast period. The report analyzes the Digital Pathology market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Digital Pathology market.

Digital Pathology is crucial and efficient way of managing pathology so as to avoid human errors and cross-contamination of certain elements. The pandemic of 2020 bolstered the demand for Digital Pathology and is expected to have a bright outlook over the forecast period as well.

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Rapid advancements in Digital Pathology technologies, increasing demand for better diagnostics, rising instances of chronic infectious diseases, and increasing use of technology in laboratories to advance testing and result time are some major factors that propel the Digital Pathology market potential over the forecast period.

The high cost of Digital Pathology is a major factor that is restraining the market potential on a global scale and is one that will have a negative impact on overall growth. Another factor that could hinder growth is lack of skilled professionals for Digital Pathology. These factors could hamper the growth through 2028 and Digital Pathology companies are focusing on solving these issues to enable Digital Pathology market growth at full potential.

The Digital Pathology market was one of the rare markets which saw an increase in demand in 2020 as coronavirus infections plagued the world. This led to a stable growth curve for the Digital Pathology market in 2020 while other markets toppled and barely managed to survive in the lockdown restrictions that were prevalent across the world.

Global Digital Pathology Market

Conventional pathology put healthcare professionals and pathologists at risk and even risked the cross-contamination of samples and digital pathology solved all of these issues hence seeing a rise in demand in face of adversity.

The demand for Digital Pathology is expected to have a dominant outlook in the post-pandemic era, as well as the use of healthcare technology, substantially increases through 2028. The Digital Pathology market will see high demand as healthcare spending increases across the world.

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The global Digital Pathology market is segregated based on type, product type, application, end user, and region. Based on application, the global market is distinguished into Drug Discovery, Disease Diagnosis, Teleconsultation, and Training & Education. The drug discovery segment is projected to emerge as the dominant segment and is anticipated to hold a major market share by the end of the forecast period. Increasing research and development for new drugs and the rising use of technologies to ensure faster drug development is expected to fuel the adoption of digital pathology in drug discovery over the forecast period.

North America holds a major market share in the global Digital Pathology marketplace and is expected to maintain this stance over the forecast period as well. The presence of developed healthcare infrastructure and the early adoption of novel technologies is anticipated to drive the Digital Pathology market potential in this region through 2028. The United States is anticipated to be the most prominent market in this region owing to rising healthcare expenditure and a growing patient pool. Increasing adoption of technology in healthcare, favorable reimbursement policies, and increasing research and development activities are expected to primarily drive the Digital Pathology market growth in North America.

Key players functioning in the global Digital Pathology market include Leica Biosystems (US), Koninklijke Philips N.V. (Netherlands), and Hamamatsu Photonics K.K. (Japan), Roche (Switzerland), 3DHISTECH (Hungary), Apollo Enterprise Imaging (US), XIFIN (US), Huron Digital Pathology (Canada), Visiopharm A/S (Denmark), Corista (US), Indica Labs (US), Objective Pathology Services (Canada), Sectra AB (Sweden), OptraSCAN (India), Glencoe Software (US), KONFOONG BIOTECH INTERNATIONAL CO., LTD (China), Inspirata Inc. (US), Mikroscan Technologies (US), Proscia Inc. (US), and Kanteron Systems (Spain).

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Recent developments:

In August 2021, Sectra AB a Swedish company focused on medical technology signed an agreement with University Medical Center Utrecht (Netherlands) to use Sectra’s pathology module for discussions between radiologists and pathologists working at the University Medical Center Utrecht.
Global Digital Pathology market is segmented as follows:

By Product

Scanners
Software
Communication Systems
Storage Systems
By Type

Human Pathology
Veterinary Pathology
By Application

Drug Discovery
Disease Diagnosis
Teleconsultation
Training & Education
By End User

Pharmaceutical & Biotechnology Companies
Hospitals and Reference Laboratories
Academic & Research Institutes
By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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