Digital Pathology Market to Reach US$ 1.08 Billion by 2027, TMR Study

Posted on 2024-03-27 by Transparency Market Research in Internet & Online // 0 Comments

Wilmington, Delaware, United States, 2024-Mar-27 — /EPR Network/ — Transparency Market Research Inc. –

Transparency Market Research’s most recent report on the global digital pathology market, covering the years 2017 to 2018 and projecting forward to 2019 to 2027, suggests that heightened awareness of digital pathology and increasing demand for advanced technology are expected to drive market growth. Additionally, the significant incidence and prevalence of cancer and other chronic diseases are expected to further fuel market expansion.

The report indicates that the market was valued at US$ 0.38 billion in 2018 and is projected to grow at a compound annual growth rate (CAGR) exceeding 12.0% to reach US$ 1.08 Bn from 2019 to 2027.

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In recent years, the field of pathology has undergone a significant transformation with the advent of digital pathology. Digital pathology involves the digitization of traditional pathology processes, enabling the acquisition, management, and interpretation of pathology information through digital images of tissue samples. This technology enhances collaboration among pathologists, facilitates remote consultations, and provides valuable insights for research and clinical decision-making.

Key Drivers:

Cancer is a significant global public health concern, with an estimated 9.6 million deaths and 18.1 million new cases recorded worldwide in 2018 according to the World Health Organization.
The increase in cancer cases is attributed to factors such as the growing elderly population and unhealthy lifestyles. By 2060, the number of adults aged 85 and above is projected to reach 19.0 million, compared to 6.4 million in 2016.
Breast, lung, and prostate cancers are among the most frequently diagnosed types in industrialized countries like the U.S., U.K., and Japan, further driving the demand for digital pathology systems.
Digital pathology systems play a crucial role in preclinical studies and clinical trials by reducing error rates, facilitating data storage, integration into electronic health records (EHRs), and assessing patient response to drugs.
The emphasis on research and development for drug development and discoveries is fueling an increase in clinical and preclinical trials, thereby boosting the growth of the global digital pathology market.
Additionally, the rise in research activities conducted in academic and research institutes contributes to the market’s growth trajectory.

Competitive Landscape:

Leica Biosystems Imaging, Inc,OLYMPUS CORPORATION,F. Hoffmann-La Roche Ltd,Mikroscan Technologies, Inc.,Koninklijke Philips N.V., Sectra AB and Inspirata

Global Digital Pathology Market – Segmentation

Product Type

Image Analysis Software
Scanner

Applications

Diagnosis
Consulting Services
Educational
Others

End-user

Diagnostic Laboratories
Academic & Research Centers
Pharmaceutical Companies
Others

Technological Advancements Propel Global Digital Pathology Market Growth

The manual interpretation of tissue slides for disease diagnosis purposes is both costly and labor-intensive, leading to increased errors and inconsistencies in diagnostic results. This approach not only raises the risk of diagnostic failure but also hampers the decision-making process. However, technological advancements in digital pathology offer a solution to these limitations by providing efficient and effective diagnostic results.

Digital pathology systems have the capability to analyze a large array of slides quickly and accurately, significantly reducing the chances of diagnostic errors. As a result, the demand for digital pathology systems is expected to rise globally during the forecast period.

Regions Covered:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

Key Developments:

In February 2019, Neuberg Diagnostics and OptraSCAN Inc. announced the launch of Global TELEPath Network for the pathologist community in UAE, India and South Africa under a new joint venture namely Neuberg DIGIPATH. This is enabled to increase focus on providing advanced and affordable digital pathology solutions
In March 2018, F. Hoffmann-La Roche Ltd announced the launch of VENTANA DP 200 slide scanner for digital pathology. The slide scanner is high speed and produces images with high image quality. The launch of the product will broaden the product portfolio of the company and strengthen its position in digital pathology market.
In January 2018, Inspirata announced that it has acquired the company Omnyx from GE healthcare. The acquisition of the company will ensure that Inspirata has the one of the most comprehensive digital pathology solution work flow

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Market Trends

Artificial Intelligence (AI) Integration: The integration of AI algorithms with digital pathology platforms is enabling automated image analysis, improving diagnostic accuracy, and reducing turnaround times.
Cloud-based Solutions: Cloud-based digital pathology solutions are gaining popularity due to their scalability, accessibility, and cost-effectiveness, allowing seamless collaboration and data sharing among pathologists.
Companion Diagnostics: The development of companion diagnostics utilizing digital pathology is facilitating personalized medicine approaches, enabling targeted therapies and improving patient outcomes.

Future Outlook

The future of digital pathology looks promising, with continued technological advancements, expanding applications in research and clinical settings, and increasing adoption globally. As healthcare systems strive for more efficient and accurate diagnostic solutions, digital pathology is expected to play a pivotal role in shaping the future of pathology practice.

Key Market Study Points

Market size and growth projections
Adoption rates across different service types and applications
Regional dynamics and growth opportunities
Emerging trends in technology and market landscape
Regulatory and reimbursement landscape influencing market growth

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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