Digital Pathology Market is likely to register CAGR of 13.5% by 2032

According to Future Market Insights, the global digital pathology market would be worth US$ 6,199 million by 2022. The digital pathology goods and services market is anticipated to reach US$ 22,870.2 Million by 2032, growing at a 13.5% CAGR during the forecast period.

As a result of technological improvements and the expansion of electronic medical records in the healthcare business, digital pathology solutions are becoming more popular in the market. Cloud-based information systems are expected to increase at a 16.9% CAGR through 2032, while on-premise systems are expected to remain dominant at US$ 626.8 million.

The scope of digital pathology with cloud integration has grown, with positive implications for a variety of therapies in the healthcare business, including anti-cancer treatments. Growth in the digital pathology market is driven by innovation in terms of product efficiency, capabilities, and other modalities.

A number of modern hospitals are installing freshly modified digital pathology systems for their laboratories, broadening the market’s consumer base globally. Manufacturers of digital pathology systems are constantly updating their software to improve the capabilities and efficacy of their instruments.

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This advancement will facilitate access to information such as photographs while also catering to unique requirements. Glencoe Software Inc. released Path Viewer in 2017, which is used for interactive viewing and annotation of digital pathology pictures.

Tissue Studio 4.2 software suite was launched by Definiens AG in January 2018. Researchers in academic medical laboratories, comprehensive cancer diagnostic and treatment facilities, biotechnology, and pharmaceutical companies benefited from the enhanced product suite’s improved image analysis.

Key Takeaways of Digital Pathology Market Study

• The United States controls 36% of the global digital pathology market. Digital imaging methods, rising acceptance of advanced technology, and established players in the United States provide major chances to produce market-leading goods.
• Canada is reflecting high potential for growth with a 14.2% CAGR, driven by the expansion of urban centers and investments into healthcare facilities.
• Furthermore, Germany is expected to capture a considerable 20% share of the European market during the predicted period.

“Growing research and development initiatives aimed towards cancer diagnosis and treatment are key factors expected to provide major growth opportunities for the digital pathology market through the end of 2032,” says the FMI Analyst.         

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Who is Winning? Leading players in the market are largely focused on product development launches in addition to investing in strategic acquisitions and capacity expansions, to explore previously untapped markets.

Some the digital pathology companies in the market are

• Danaher Corporation,
• Hoffmann-La Roche AG
• Huron Technologies International Inc.
• Koninklijke Philips N.V.
• Olympus Corporation
• Hamamatsu Photonics K.K.
• Carl Zeiss
• 3D HISTECH Ltd.
• Others

Want more insights? 

The digital pathology market is likely to be dominated by North America. The rising prevalence of cancer and rising need for high-quality diagnostics are moving the digital pathology market in this area forward. Government initiatives in the United States and Canada, as well as advantageous reimbursement rules, are propelling digital pathology market expansion in this area.

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Key Segment By Product Type:

• Equipment
  • Whole Slide Scanners
    • Brightfield Slide Scanners
    • Fluorescence Slide Scanners
    • Combination Slide Scanners
  • Clinical Microscope
  • Tissue Microarrays

• Softwares
  • Image Viewing and Analysis Softwares
    • On-premise
    • Cloud-based
  • Digital Pathology Information Systems
    • On-premise
    • Cloud-based

• Services
  • Installation and Integration Services
  • Consulting Services
  • Maintenance and Validation Services

By Application:

• Clinical Patholog
• Molecular Diagnostics
• Basic & Applied Research
• Drug Development
• Others

End-User:

• Hospitals
• Diagnostic Laboratories
• Pharmaceutical & Biotechnology Companies
• Forensic Laboratories
• Research Institutes
• Contract Research Organizations (CROs)
• Clinics

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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