Global Digital Pathology Market to Grow with a CAGR of 10.19% through 2028
Increasing integration
of AI in healthcare and increasing prevalence of cancer is expected to drive
the Global Digital Pathology Market growth in the forecast period, 2024-2028.
According to TechSci Research
report, “Global Digital Pathology Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Digital Pathology Market stood
at USD 0.93 billion in 2022 and is anticipated to grow with a CAGR of 10.19%. One
of the primary driving factors behind the growth of the global digital
pathology market is the increasing prevalence of generic and rapid
technological advancements in digital pathology systems. This factor has
significantly contributed to the expansion of the digital pathology market over
the forecast period. Additionally, the rising incidence of cancer cases plays a
crucial role in driving the growth of the digital pathology market. Moreover,
the growing prevalence of chronic and cardiovascular diseases acts as an
additional factor that boosts the digital pathology market. The utilization of
Artificial Intelligence (AI) has also demonstrated its effectiveness in
comparison to previous techniques used for identifying and evaluating
pathological characteristics. The implementation of AI has expedited and
strengthened the diagnostic process, as well as enhanced the success and
cost-efficiency of drug discovery. These advancements have greatly propelled
the digital pathology market over the forecast year.
Furthermore, digital
pathology has played a significant role in companion diagnostics and drug
development pipelines, encompassing molecular biology, bio banking, molecular
tissue profiling, and tissue microarray analysis. The increasing demand for
high-quality tissue samples in tissue-based biomarker research is projected to
drive the adoption of digital pathology in the market over the forecast period.
The digital pathology market
is driven by several factors, including the increasing number of
teleconsultations, the rising adoption of digital pathology to enhance
laboratory efficiency, and its expanding application in drug discovery and
companion diagnostics. The integration of digital pathology with digital tools,
barcoding, specimen tracking, and digital dictation has also contributed to the
growing use of digital pathology in disease diagnosis. These integrations have
improved the safety, quality, and efficiency of disease diagnoses in pathology
laboratories. According to a report published by the World Health Organization
(WHO), digital pathology is expected to have significant potential in making
routine pathology practice more efficient and accurate by 2022, owing to its
ease of use and the ability to work remotely. Additionally, artificial
intelligence (AI)-based assistance systems have been employed to enhance image
processing in diagnostic sectors, providing clinicians and specialists with quicker
and safer judgments in radiology or pathology practices, as reported by
Deontics Ltd in September 2022.
The market is also
anticipated to be driven by the increasing adoption of telepathology, rising
investment in healthcare in developed countries, the market penetration of key
manufacturers in developing regions, and a growing focus on drug discovery. For
example, in April 2022, GlaxoSmithKline collaborated with PathAl to introduce
digital pathology Artificial Intelligence in cancer and Non-alcoholic
steatohepatitis (NASH) drug development. Furthermore, the 2022 EU4Health work
program has been allocated a budget of more than EUR 835 million (USD 706.41
million) to enhance health systems in Europe, including approximately EUR 77
million (USD 65.14 million) for digital investment. The establishment of the
European health data space, aimed at facilitating greater exchange and access
to health data across member states, is anticipated to receive funding from the
digital strand. These government initiatives, combined with technological
advancements in the healthcare IT field and initiatives by key players, are expected
to drive the growth of the market over the forecast period. Globally, there has
been a growing burden of chronic and infectious diseases, including
cardiovascular, cancer, diabetes, influenza, orthopaedic, and neurology
disorders. These conditions have had detrimental effects on individuals'
physical and mental well-being, leading to disability. According to statistics
published by the British Heart Foundation in January 2022, there were
approximately 7.6 million people in the United Kingdom affected by
cardiovascular disorders (CVDs). The increasing prevalence of cardiovascular
diseases has resulted in a higher demand for innovative technologies for
diagnosing such conditions, driving market growth.
The integration of digital
pathology with digital tools such as barcoding, specimen tracking, and digital
dictation has improved the safety, quality, and efficiency of disease diagnosis
in pathology laboratories. The digital pathology platform allows for the
instant sharing of whole slides among multiple pathologists, enabling
collaborative input on cases. For example, in January 2021, Roche launched
uPath HER2 (4B5) image analysis and uPath HER2 Dual ISH image analysis for
breast cancer, using automated digital pathology algorithms with artificial
intelligence. These algorithms assist pathologists in making rapid and accurate
diagnoses, supporting the determination of the most effective treatment
strategies for each patient. Consequently, the utilization of digital pathology
for disease diagnosis is expected to grow steadily in the forecast period.
Considering the increasing
burden of chronic and infectious diseases and the integration of digital
pathology, the disease diagnosis segment is projected to experience significant
growth over the forecast period.
Browse over 26 market
data Figures spread through 91 Pages and an in-depth TOC on "Global
Digital Pathology Market”
The Global Digital Pathology
Market is segmented into product type, application, end user, regional
distribution, and company.
Based
on application, the disease diagnosis segment is anticipated to experience
rapid growth, driven by the escalating prevalence of chronic illnesses and
manufacturers' dedication to developing advanced and swift diagnostic
techniques. These techniques aim to facilitate seamless exchange of information
between different departments. The adoption of digital technologies plays a
vital role in improving the efficiency of disease diagnosis and enhancing
therapeutic interventions. For instance, in April 2022, PreciseDx collaborated with
The Michael J. Fox Foundation to unveil AI-powered digital pathology technology
for early diagnosis of Parkinson's disease, even before severe symptoms
manifest in patients.
Based
on region, North America segment is expected to grow during the forecast
period. The North American digital
pathology market is driven by several key factors. These include the increasing
burden of chronic diseases, the adoption of technologies in chronic disease
management, investments, product launches, and initiatives by market players.
The United States, specifically, is projected to experience significant growth
during the study period. The rising prevalence of chronic diseases like cancer
and Alzheimer's disease is expected to fuel the demand for digital diagnostics.
For example, the American Cancer Society estimated that approximately 236,740
new cases of lung cancer would be diagnosed in the country in 2022. Similarly,
kidney cancer is also anticipated to contribute to the burden, with an
estimated 79,000 new cases reported in 2022. Moreover, the International
Diabetes Federation reported that around 14 million adults in Mexico were
living with diabetes in 2021. In Canada, diabetes is one of the major chronic
diseases affecting the population, with over 3 million diagnosed cases and 6.1%
of adults at a high risk of developing the condition as of August 2021. The
substantial burden of cancer is expected to drive the demand for digital
pathology, consequently fostering market growth.
Major companies
operating in Global Digital Pathology Market are:
- 3DHISTECH
- Corista
- Aiforia Technologies Oy
- Akoya Biosciences
- OptraSCAN
- Glencoe Software
- QProscia Inc
- Kanteron Systems
- Mikroscan Technologies
- OptraSCAN
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“Digital pathology offers an enhanced viewing experience,
thereby improving analysis and reducing diagnostic error rates. These tools
also provide service providers with immediate access to previous cases for
comparison, facilitating long-term predictive analysis through data storage.
Barcoding specimens minimizes the risk of misidentification and eliminates
concerns about lost data due to slide breakage. The market growth of digital
pathology systems is expected to be driven by increasing technological advancements.
For example, according to an article published in the Visceral Medicine Journal
in 2021, digital pathology has witnessed technological advancements in
artificial intelligence and label-free imaging. The utilization of artificial
intelligence in digital pathology is growing in tandem with the development of
slide scanners, the abundance of data generated, and the ever-increasing
computing power. The growth of the global digital pathology market is primarily
driven by the increasing prevalence of cancer, the growing demand for accurate
diagnostics, and the development of new digital pathology systems by numerous
key players. According to a report published by Medscape, chronic diseases are
associated with higher mortality rates. The underlying reason for the
advancement of advanced diagnostic solutions is the rising prevalence of
cardiovascular disorders. Consequently, as the incidence of chronic and
cardiovascular diseases continues to rise, the demand for digital pathology
systems is expected to increase, thereby driving the growth of the digital
pathology market.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Global
Digital Pathology Market By Product Type (Scanners,
Software, and Storage & Communication Systems), By Application (Disease
Diagnosis, Teleconsultation, Drug Discovery, Training & Education), By End
User (Pharmaceutical & Biotechnology Companies, Hospitals and Clinics,
Academics Institutes & Research Laboratories), By Region, By Competition
Forecast & Opportunities, 2018-2028F”, has evaluated the future
growth potential of Global Digital Pathology Market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Digital Pathology Market.
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