Digital Pathology Market is expected to reach a valuation of US$ 2.2 Billion by 2032 | FMI Study

The Digital Pathology market revenues were estimated at US$ 954.1 Million in 2021 and are anticipated to grow at a CAGR of 8% during 2022-2032, according to a recently published FMI Market Research report.

By the end of 2032, the market is expected to reach a valuation of US$ 2.2 Billion. Market revenue through academic research is projected to surge at a CAGR of 8% during 2022 – 2032.

The increased use of advanced analytics in pharma and medical testing are two key factors boosting the digital pathology market’s adoption. Healthcare financing organizations and government bodies are implementing analytics through claim management and fraud prevention, which is fueling the market growth.

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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.

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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

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.

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Key Segments Profiled in the Global Digital Pathology Market

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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