Digital Pathology Market exhibiting CAGR of 12.3% from 2023 to 2032, owing to rising applications of digital tools in diagnostics | insightSLICE
The global Digital Pathology market size was estimated to be US$ 725 million in 2021 and is expected grow at a CAGR of 12.3% between 2023 to 2032.
The most recent and cutting-edge technology in the field of pathology is digital pathology. The glass slides that contain the specimen samples are converted into digital images in the current procedures for simple data collection, observation, analysis, and management.
This is made possible in part by virtual microscopy, a technique that facilitates the popular publishing and transmission of images through a networked environment.
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The patient’s electronic health records are maintained using data-rich images, which are used to collect the dispersed illness data to create a centralized database of individual patients. Digital pathology is expected to surpass traditional pathology at a high level because of technological improvements.
The tests for diagnosis are now automated as a result of the digitalization of pathology, saving time and money. For instance, a single piece of computerized equipment can perform the tests that five different devices used to be used by pathologists to perform them.
The key players of the Global Digital Pathology Market are:
The leading providers of digital pathology include, among others, 3D Histech Ltd., Apollo Enterprise Imaging Corp., Corista LLC, Definiens AG, Hamamatsu Photonics K.K., Leica Biosystems Nussloch GmbH, Omnyx LLC, Philips Healthcare, Visiopharm A/S, Ventana Medical Systems Inc., and Xifin Inc.
Some well-known businesses competing in the digital pathology industry collaborate with important participants to increase their market visibility.
Due to the market players’ increasing use of aggressive strategies to maintain competition, the global market for digital pathology is expected to experience strong competition in the future.
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Factors involved in the growth of the digital pathology adoption:
Due to the high demand for medical equipment during the COVID-19 pandemic, this industry benefited. Sales were boosted as a result of the large demand for pathology instruments caused by the rise in chronic disease cases.
The product’s acceptance was additionally aided by a rise in government activities supporting the use of virtual coronavirus treatment methods. Additionally, the development of virtual schooling made it possible for medical professionals to assist patients virtually.
For instance, in order to alter medical services, the Centers for Medicare & Medicaid Services (CMS) announced regulatory adjustments. It made it possible for Americans to receive effective medical care. These elements fueled industry expansion throughout the pandemic.
Global Digital Pathology Market Key Segments:
By Product
- Software
- Device
- Scanners
- Slide management system
- Storage System
By Application
- Drug Discovery & Development
- Academic Research
- Diagnosis
- Cancer Cell Detection
- Others
By End Use
- Hospitals
- Diagnostic Labs
- Biotech & pharma companies
- Academic & research institutes
By Geography
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- South America
- Brazil
- Rest of South America
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The leading market segments of Global Digital Pathology Market
Companion diagnostics and the drug development pipeline, which encompasses molecular tissue characterization, cell genetics, biobanking, and tissue microarray analysis, are heavily reliant on digital pathology.
The rising pace of adoption of this technology during the projection period is also being driven by an increase in the need for high-quality tissue samples for tissue-based biomarker research.
Regional performance of Digital Pathology Market
During the projection period, it is expected that the North American region would dominate the digital pathology market and have the most market share.
The prevalence of chronic diseases is on the rise, and there are more government and big corporate activities in the diagnostics sector, which is fueling the expansion of the digital pathology market. The Asia-Pacific region is anticipated to experience the fastest growth rate in the next years.
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