Digital Pathology Market Set to Reach a Significant US$ 24,961.8 Million by 2033 at a CAGR of 13.5%

Posted on 2024-04-02 by Future Market Insights in Healthcare, Pharmaceuticals // 0 Comments

Digital Pathology Market

In 2023, the digital pathology market is anticipated to be worth $7,035.8 million USD. It is likely that the market will reach US$ 24,961.8 million by 2033. Furthermore, the industry is expected to increase at a compound annual growth rate (CAGR) of 13.5% between 2023 and 2033.

The development of the digital pathology market is being driven by two major factors: the growing use of advanced analytics in pharmaceutical and medical testing. The market is expanding as a result of the use of analytics by government agencies and healthcare financing companies for fraud detection and claim management.

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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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