Global Digital Pathology Market Size, Trends & Analysis with COVID-19 Impact - Forecasts To 2026 By Type (Human Pathology, Veterinary Pathology), By Product (Scanners, Storage Systems, Software, Communication Systems), By Application (Teleconsultation, Training & Education, Drug Discovery, Disease Diagnosis), By End-User (Pharmaceutical & Biotechnology Companies, Hospitals and Reference Laboratories, Academic and Research Institutes), By Region (North America, Europe, Asia Pacific and Rest of the World); and Company Market Share Analysis & Competitor Analysis
Digital Pathology Market: Insights
In the forecast timeframe from 2020 to 2026, a higher compound annual growth rate will raise the global demand for digital pathology. Digital pathology is allowed by computer technology as an image-based information environment that enables information created by a digital slide to be handled. The digitization of pathology has contributed to the automation of examinations during the diagnosis of diseases, among several other applications. Some of the major reasons projected to raise demand for digital pathology are the increased usage of digital pathology to boost laboratory quality, along with the growing demand for customized medicine. Digital pathology applications provide computer image screening & examination, high-resolution sample scanning, and digital slide storage electronically, allowing pathologists to cross-examine slides without tangible evidence. Moreover, the increasing prevalence of cancer globally is also steering the industry's growth. However, the lack of qualified laboratory pathologists and the increased price of automated pathology systems that are likely to adversely impede market growth during the projected period.
Digital Pathology Market: By Application
This market can be described by four fields, teleconsultation, training & education, drug development, and disease detection, depending on the application. It was expected that the drug development application market will contribute more to global revenues in this field of business. This is due to the rise in R&D investment, fueled by the need for multiple preclinical and clinical trials undertaken during the phase of drug discovery and development.
Digital Pathology Market: By Product
The sector is categorized into product-based segments: scanners, storage systems, software, and communication systems. The division of scanners is expected to add more to global market sales across all products. This is attributable to the growing adoption of applications for digital pathology worldwide. Moreover, the increased use of scanners in pathology laboratories is further driving market development.
Digital Pathology Market: By End-User
This market can be represented in three categories according to the end-user analysis, namely: pharmaceutical & biotechnology firms, hospitals, and reference labs, academic and research institutes. The division of pharmaceutical & biotechnology corporations is expected to contribute more to the industry’s worldwide revenue across all end-users. This is due to the growing use of automated pathology for trials in drug development and research on drug toxicology.
Digital Pathology Market: By Region
Centered on the local region, the Digital Pathology sector is divided into, among others, Europe, North America, Asia Pacific, and the Middle East & Africa, others. The North American area is expected to add to global revenues over the forecast timeframe. This is owing to the large per capita annual healthcare investment by the US and Canadian governments, which is due to quick usability and fast penetration of modern analytical technology. The Asia-Pacific region is expected to see substantial growth at a high CAGR pace in emerging regions. The rising food security issues in India and the development in the biotechnology and pharmaceutical industries are some of the factors influencing the growth of the sector.
Digital Pathology Market: Share & Competitor Analysis
The key players competing in this market are Leica Biosystems, Hamamatsu Photonics, Sectra Ab, Apollo Enterprise Imaging Corp., Huron Digital Pathology, Corista, Objective Pathology Service, Glencoe Software, Inc., Koninklijke Philips, F. Hoffmann-La Roche Ltd., Dhistech Inspirata, Inc., and Proscia, Inc. among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In May 2020, Leica Biosystems launched its new product i.e., the Aperio GT 450.
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The Global Digital Pathology Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Digital Pathology Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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