(PharmaNewsWire.Com, September 01, 2023 ) The report "Digital Pathology Market by Product (Scanner, Software, Storage System), Type (Human, Veterinary), Application (Teleconsulation, Training, Disease Diagnosis, Drug Discovery), End User (Pharma & Biotech, Academia, Hospitals) - Global Forecast to 2028", is projected to reach USD 1.8 billion by 2028 from USD 0.9 billion in 2022, at a CAGR of 13.6% during the forecast period.
The digital pathology market is mainly driven by factors such as the growing applications of digital pathology in drug development and companion diagnostics, growing awareness of early cancer diagnosis in emerging economies, and recommendations for cancer screening. On the other hand, the high costs of digital pathology systems are expected to restrain market growth to a certain extent.
The human pathology segment has accounted for the largest market share during the forecast period.
Based on type, the digital pathology market is segmented into human pathology and veterinary pathology. The human pathology segment accounted for the largest share of 66.5% of digital pathology type market in 2022. The growing awareness of early cancer diagnosis in emerging economies, and increasing collaborations among academic research institutes, universities, and pathology laboratories drives the growth of the human pathology segment in the digital pathology market.
The scanners segment accounted for the largest share of 44.9% of the global digital pathology market
Basesd on product, the global digital pathology market is segmented into scanners, software, and storage systems. The scanners segment accounted for the largest share of 44.9% of the global digital pathology market in 2022. The large share of this segment can be attributed to the restrictions implemented in many countries owing to the COVID-19 outbreak are also expected to increase the installation of scanners to promote the remote viewing of tests by pathologists.
Drug discovery was the largest application segment of the digital pathology market.
Based on application, the digital pathology market is segmented into drug discovery, disease diagnosis, and training & education. In 2022, drug discovery was the largest application segment of the digital pathology market. The growth in the rising number of preclinical & clinical studies, high throughput screening and imaging, and increasing use of toxicology testing for illicit drugs are the major factors responsible for the large share of the drug discovery application segment.
North America accounted for the largest share of the Digital Pathology market
In 2022, North America accounted for the largest share and highest growth rate of the digital pathology market in 2022. The highest growth rate of the market can be attributed to the rising prevalence of cancer, growing geriatric population, and the presence of well developed healthcare infrastructure in the region are expected to drive the growth of the market in North America.
The Digital Pathology Market is highly consolidated. Some of the major players operating in this market include Danaher Corporation (US), Koninklijke Philips N.V. (Netherlands), KONFOONG BIOTECH INTERNATIONAL CO., F. Hoffmann-La Roche Ltd. (Switzerland), XIFIN, Inc. (US), Apollo Enterprise Imaging (US), Huron Digital Pathology (Canada), Hologic, Inc. (US), Kanteron Systems (Spain), Corista (US), Objective Pathology Services Limited (Canada), Aiforia (Finland), Glencoe Software, Inc. (US), Motic Digital Pathology (US), OptraSCAN (US), Sectra AB (Sweden), Mikroscan Technologies, Inc. (US), Indica Labs Inc. (US), 3DHISTECH (Hungary), Akoya Biosciences, Inc. (US), Fujifilm Holdings Corporation (Japan), Paige AI, Inc. (US), Proscia Inc. (US), LTD. (China), PathAI (US), and Hamamatsu Photonics K.K. (Japan).
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