Global Digital Pathology Market Forecast Report, 2021 - 2031

Global Digital Pathology Market Forecast Report, 2021 - 2031

Global Digital Pathology Market (Product Type: Image Analysis Software, Scanner {Bright Field Scanner, Fluorescence Scanner}, Services {Installation & Integration, Maintenance Services, Consulting Services} Storage & Communication Systems; Therapeutic Area: Oncology, Hematology, Autoimmune Disorder, Dermatology and Others; Technology: Immunohistochemistry, ISH & FISH, Immunofluorescence and others; Application: Teleconsultation, Disease Diagnosis, Drug Discovery, and Training & Education, Others; and End User: Educational, Clinical, and Pharma & Biotech Companies)

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REPORT PREVIEW

The administration and analysis of pathology data produced from digitalized glass slides is known as digital pathology. Digital pathology has become one of the most widely used methods for routine diagnosis and pharmaceutical development. Digital pathology has expanded as a result of its many benefits, including real-time sharing of streaming websites and digital photos. Machine learning (ML) and artificial intelligence (AI) combined with clinical data allow for picture interpretation that goes beyond what is feasible with traditional histology.

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Market Restraint: High cost of digital pathology systems

The price range for a representative digital pathology system, which carry a slide scanner, an image server, and software, is between $500k and $100k. It costs about USD 2.5 million to buy a fully functional scanner. Around USD 110,000 to USD 130,000 is the typical price range for a digital pathology scanner in the Asia Pacific region. Especially in developing nations like Brazil, Mexico and India, healthcare providers lack the financial resources to invest in such expensive equipment. The adoption of these systems is anticipated to be constrained by their high cost and the difficulty of finding experienced staff to operate them.

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Opportunity: The development of scanners at reasonable prices for independent pathology practices

A significant barrier to market expansion is the cost of digital pathology hardware, particularly scanners. Therefore, it is anticipated that the development of cheap scanners would present expansion prospects for firms engaged in the digital pathology sector. Since the majority of private medical practices are small enterprises, they cannot afford pricey pathology equipment. The availability of inexpensive scanners and the propensity of newer companies to digitize pathology workflow will promote their adoption among pathologists with tight budgets.

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Challenge: Lack of trained pathologists

Due to the rising cancer prevalence, there is a huge increase in the demand for pathology services for clinical applications. The demand for pathologists is greater than the supply everywhere, but it is particularly acute in the nations of Africa and the Asia Pacific area. 59.3% of pathologists in the US were female, while 40.7% were male, according to Zippia’s estimates for 2021. Conversely, laboratories are under pressure to process an increased volume of specimens with a constrained personnel. The cancer diagnostics market’s expansion is anticipated to be hampered by this.

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Consultant point of view:

The size of the global digital pathology market was estimated to be USD 965.5 million in 2022, and it is projected to expand at a CAGR of 8.7% from 2023 to 2031. According to the Analyst, increasing number of product launches by market players can boost the market growth over forecast period. For instance, in November 2022, Nucleai, Inc., a software and AI-powered spatial biology solution providing company, launched the new generation of multiplex immunofluorescence (mIF) analysis system. The newly launched multiplex immunofluorescence (mIF) analysis system provides increased levels of speed and accuracy for drug discovery and development.

Global Digital Pathology: Overview

·?????? The size of the global digital pathology market was estimated to be USD 965.5 million in 2022, and it is projected to expand at a CAGR of 8.7% from 2023 to 2031. The market is expanding in response to the desire for quicker diagnostic tools, the rising incidence of cancer, and the increased attention being paid to workflow efficiency. Additionally, the market is being driven forward by rising healthcare investments supported by major key players operating in the market focusing on new releases, expanding telepathology use and increasing emphasis on drug development and precision medicine.

·?????? During the COVID-19 pandemic, research centres, government agencies from many nations, and numerous pharmaceutical and biotech companies concentrated on quick and efficient methods for accurate COVID-19 diagnosis and the creation of vaccines/new treatments to battle the pandemic. When the COVID-19 epidemic hit, many histology departments were already overworked and underfunded, placing diagnostic services to the test. Additionally, the pandemic had a big influence on common pathology services. Digital pathology was essential in preserving clinical services and pathology-based research during the epidemic.

·?????? The use of artificial intelligence (AI) in healthcare is growing, with a focus on enhancing patient care quality by incorporating AI into various healthcare service phases, such as pathological diagnosis. Clinical decision support systems, for example, are AI-based solutions that aid hospitals in optimizing workflow procedures and enhancing patient care. For instance, Aiosyn launched AiosynQC, an algorithm with AI that can scan automatically, in March 2023. The first pathology product to assist digital pathology laboratories in research, diagnostics, and pharmaceuticals in streamlining their Quality Control (QC) procedures.

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Global Digital Pathology: Market drivers

·?????? Global pathology market is driven by the rise in the incidence of cancer, the desire for precise diagnoses, and the development of innovative digital pathology systems by a significant number of important players are the main drivers of the growth of the worldwide digital pathology market. According to a Medscape report, chronic diseases may contribute to a higher mortality risk. The rising prevalence of cardiovascular illnesses is the primary driver behind the development of better diagnostic methods. The demand for digital pathology systems rises along with the prevalence of chronic and cardiovascular diseases, fueling the expansion of the digital pathology market.

??????? The market is being boosted by rapid technology improvements. The market is anticipated to grow as a result of quick technology developments in digital pathology systems. The expansion is being aided by the use of digital imaging, computers, robotic light microscopy, and numerous fibre optic communications. One such method is whole slide imaging, which offers a number of benefits over traditional light microscopes and is predicted to grow in popularity.

??????? Increasing usage of AI in medicine. Al is becoming more prevalent in healthcare, and more focus is being placed on enhancing patient care quality by integrating Al into other healthcare services, like pathological diagnostics. Artificial intelligence (AI) enables automated primary care workflow, freeing up doctors to attend to more critical and gruesome patients. In the healthcare sector, Al solutions are also getting more humanised.

??????? Government Initiatives are growing. Government agencies are likely to take more efforts, such as relaxing regulations on the approval of digital pathology software and technology, to provide profitable business prospects. For instance, the U.S. Food and Drug Administration (FDA) loosened requirements on software-hardware clearances and issued a waiver in April 2020 allowing pathologists to conduct primary readings from their homes. This led to a rise in the use of digital clinical pathology.

Global Digital Pathology: Market segmentation

·?????? The market is divided into five categories based on product type, therapeutic area, technology, application and end user.

·?????? By product type: image analysis software, scanners, and services. Among these, the image analysis software sector is anticipated to dominate the worldwide digital pathology market during the time of forecasting, which is related to an increase in product launches.

·?????? By therapeutic areas, the market is divided into cancer, haematology, autoimmune disorders, dermatology, and others. Out of these, the oncology sector is anticipated to dominate the market throughout the course of the forecast period. This is ascribed to the rising use of digital pathology in a variety of cancer/tumor types.

·?????? By technology, the market is divided into Immunohistochemistry, ISH & FISH, Immunofluorescence, and others. Out of these, the market for immunohistochemistry is anticipated to lead the market ?throughout the forecast period, and this is owing to rising research and development activities.

·?????? By applications include teleconsultation, disease diagnostics, drug research, training & education, and Others

??????? By end user, it is divided into educational, clinical, and pharma & biotech enterprises. The Pharmaceutical and Biotechnology firms category is anticipated to dominate the market over the course of the forecast period, and this is due in large part to the market’s pharmaceutical and biotechnology firm’s rising number of product releases.

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Global Digital Pathology: Regional overview

·?????? North America dominated the digital pathology market in 2020, and is expected to continue to dominate during the forecast.

·?????? ?The rise in number of various types of cancer cases, presence of key players, development of the healthcare sector, and presence of new innovative digital pathology systems in the region.

·?????? ?Asia-Pacific is expected to register the highest CAGR of 9.8% from 2021 to 2031, owing to increase in prevalence of chronic diseases, and development of healthcare infrastructure.

·?????? Asia Pacific region are said to be the highly developing region in global pathology market.

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Global Digital Pathology: Major Players

Some of the prominent players operating in the digital pathology market include

??????? Fujifilm Holdings Corporation (Japan)

??????? Proscia Inc. (US)

??????? KONFOONG BIOTECH INTERNATIONAL CO., LTD. (China)

??????? Mikroscan Technologies, Inc. (US)

??????? PathAI (US)

??????? Danaher Corporation (US)

??????? Koninklijke Philips N.V. (Netherlands)

??????? Hamamatsu Photonics K. K (Japan)

??????? F. Hoffmann-La Roche Ltd. (Switzerland)

??????? 3DHISTECH (Hungary)

??????? Apollo Enterprise Imaging (US)

??????? XIFIN, Inc. (US)

??????? Huron Digital Pathology (Canada)

??????? Hologic, Inc. (US)

??????? Corista (US)

??????? Indica Labs Inc. (US)

??????? Objective Pathology Services Limited (Canada)

??????? Sectra AB (Sweden)

??????? OptraSCAN (US)

??????? Akoya Biosciences, Inc. (US)

??????? Glencoe Software, Inc. (US)

??????? Aiforia (Finland), Paige Al Inc. (US)

??????? Motic Digital Pathology (US)

??????? Kanteron Systems (Spain).

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Recent Developments in the Industry of Digital Pathology

The VENTANA DP 600 slide scanner for digital pathology was introduced by F. Hoffmann-LA Roche Ltd. in 2022, improving patient care with accurate diagnosis.

?Koninklijke Philips introduced the next-generation digital pathology system in 2021. It includes a full and scalable set of software tools and capabilities for digital pathology.

In order to preserve file compatibility between the Leica Biosystems Aperio GT 450 line of scanners and the Indica Labs Halo range of software solutions, Danaher Corporation teamed with Indica Labs in 2022 to supply compatible digital pathology workflow solutions.

The NanoZoomer S360MD Slide scanner system from Hamamatsu was granted US FDA 510(k) clearance in 2022 for primary diagnostic use.

The Full-Field Bone Marrow Aspirate (FF-BMA) application platform was introduced in September 2022 by Scopio Labs, a business that advances digital microscopy. The scanning and analysis of bone marrow aspirates can now be done entirely digitally thanks to this platform. The Scopio high-resolution full-field imaging and Al-driven decision support system move hematopathology one step closer to the essential digital transition.

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FREQUENTLY ASKED QUESTIONS

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What is the total market value of the Global Digital Pathology market report?

Global Digital Pathology Market size stood at around USD 1.3 billion in 2021 and is projected to reach USD 1.9 billion by 2031, exhibiting a CAGR of around 8.7% during the forecast period 2023 - 2031

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What are the key factors hampering growth of the Market?

The major factor that can hamper growth of the market include the high cost of digital pathology equipment

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Which top companies hold the market share in the Global Digital Pathology market report?

Major companies operating in the market include Leica Biosystems Nussloch GmbH,? Olympus Corporation,? F. Hoffmann-La Roche Ltd.,? Merck KGaA,? GE Healthcare,? Mikroscan Technologies, Inc.,? Koninklijke Philips N.V.,? Sectra AB,? Propath UK Limited,? Inspirata, Inc.,? Hamamatsu Photonics, Inc.,? OracleBio Limited,? MD Biosciences,? Aiforia,? Xybion Digital Inc., Nucleai, Inc.