Growing applications in drug development and companion diagnostics advancing Digital Pathology Market

The global digital pathology market is projected to reach USD 1,054 million by 2025 from USD 553 million in 2020, at a CAGR of 13.8% during the forecast period. The growth of this market is majorly attributed to the increasing adoption of digital pathology to enhance lab efficiency, rising prevalence of cancer, growing application of digital pathology in drug development & companion diagnostics, and increasing initiatives by industry players.

The drug discovery segment commanded the largest share of the digital pathology market, by application, in 2019.

On the basis of application, the digital pathology market has been segmented into drug discovery, disease diagnosis, teleconsultation, and training & education. The drug discovery segment accounted for the largest share of the digital pathology market in 2019. Factors such as the growth in R&D expenditure, fuelled by the need for numerous preclinical and clinical studies performed during the drug discovery and development process is one of the major factors driving the growth of this segment.

Pharmaceutical & biotechnology companies are the largest end-user segment of the digital pathology market.

On the basis of end-users, the digital pathology market is segmented into pharmaceutical & biotechnology companies, hospitals and reference laboratories, and academic & research institutes. The pharmaceutical & biotechnology companies segment accounted for the largest share of the global digital pathology market, by end-user, in 2019. Factors contributing to the large share and high growth rate of this segment include the increasing use of digital pathology for drug discovery studies and drug toxicology testing. Biotechnology companies also use digital pathology for biobanking, biopharmaceutical studies, molecular assays, and the development of individualized medicine.

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North America dominates the digital pathology market during the forecast period.

In 2019, North America accounted for the largest share of the digital pathology market, followed by Europe. Factors such as the high prevalence of cancer and increasing initiatives by industry players are driving the digital pathology market in North America. However, the Asia Pacific region is expected to grow at the second-highest rate during the forecast period

The digital pathology market is well established owing to the dominance of prominent market players, such as Leica Biosystems (US), Koninklijke Philips N.V. (Netherlands), and Hamamatsu Photonics K.K. (Japan). Other prominent players in this market include 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).

Leica Biosystems (US) was the largest player in the digital pathology market in 2019. The company offers an extensive range of digital pathology solutions, such as scanners, software, image analysis software, and various other services. Leica Biosystems aims to be an end-to-end solution provider by providing researchers and laboratories with products that will aid in the pathology process.

The company focuses on organic and inorganic growth strategies to maintain its position in the market and expand its global presence. The company focuses on product launches in order to create a strong foothold in the market. In 2019, Leica Biosystems launched the Aperio GT 450, a next-generation digital pathology scanner. Similarly, in 2018, the company received approval for its scanner, the Aperio LV1 IVD, to be sold in Europe, Canada, Australia, and New Zealand.

Koninklijke Philips N.V. (Netherlands) is the second-leading player in the global digital pathology market. The company has a strong geographical presence in Europe, North America, the Asia Pacific, and Africa. The company offers scanners, software, communication systems, and storage systems for digital pathology. Philips strategically focuses on collaborating and partnering with other market players to launch technologically advanced products, and to expand its presence globally. In line with this, the company collaborated with Paige (US) to deliver AI to clinical pathology diagnostics in 2019. This collaboration is expected to deliver clinical-grade AI applications to pathology laboratories. Similarly, in 2017, the company partnered with PathAI (US) in order to jointly develop solutions to improve the precision and accuracy of the routine diagnosis of cancer and other diseases. Moreover, this partnership enables Philips to apply AI to massive pathology data sets for informed diagnostic and treatment decisions.