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Digital pathology utilizes digital scanners, storage devices, and computer networks to facilitate efficient viewing, sharing, management, and analysis of pathology slides. It enables rapid and accurate diagnosis by facilitating whole slide imaging at multiple levels of magnification, quantitative image analysis for research and clinical uses, and integration of digital pathology with other laboratory and clinical applications and electronic medical records. The Global Digital Pathology Market is estimated to be valued at US$ 994.95 Mn in 2024 and is expected to exhibit a CAGR of 12.% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the Digital Pathology are 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.
The key opportunities in the digital pathology market include increased R&D in AI and ML technology for applications in quantitative analysis. Digital pathology also is supported by the increased adoption of digital clinical workflows by large healthcare systems and healthcare IT budgets. Technological advancements such as virtual slides, digital immunohistochemistry, AI and ML are supporting the growth of digital pathology.
Market drivers
The increasing prevalence of chronic diseases like cancer is a key driver for the digital pathology market. According to WHO, cancer burden has risen to 19.3 million cases and 10 million cancer deaths in 2020. Digital pathology solutions enhance diagnosis accuracy and help pathologists with quantitative analysis and work automation. Budget pressure on healthcare systems also supports the shift to more efficient digital pathology solutions from traditional microscopy systems.
Current Challenges in Digital Pathology Market
The major challenges being faced by digital pathology market currently include lack of skilled workforce and standardization issues. Digital pathology is still a relatively new area and there are very few pathologists who have extensive experience and expertise in this domain. Lack of adequate training programs is restricting the adoption of digital pathology solutions. There are no universal guidelines and standards yet regarding the use of whole slide imaging and associated analytics. Different regions and healthcare institutions are following their own protocols which is creating inconsistencies. High installation and maintenance costs of digital pathology systems is also a hurdle, especially for small hospitals and diagnostic labs in developing nations. Data management, storage and sharing of large pathology files over networks needs to be streamlined further. Interoperability between systems of different vendors remains a challenge too. Overall, digital pathology is still in the growing phase and wider acceptance amongst pathologists will take some more time.
SWOT Analysis
Strength: Automation abilities can increase efficiency and throughput. Whole slide images provide opportunities for remote expert consultation and virtual collaboration.
Weakness: Lack of universal standards and protocols. Requires heavy upfront investments and running costs.
Opportunity: Untapped potential in developing countries. Growing demand for AI/ML applications in precision diagnosis and drug development.
Threats: Resistance to change from some traditional pathologists. Concerns about data privacy and security. Intense competition in market.
Geographical regions of concentration
North America is currently holding the major share in the digital pathology market, both in terms of value and volume. High adoption rate of advanced diagnostic technologies and presence of prominent industry players in the US and Canada are driving the regional market. Europe is another leading region backed by strong healthcare infrastructure and increasing government funding for R&D activities.
Fastest growing region
Asia Pacific region is poised to witness the highest growth during the forecast period majorly due to growing healthcare expenditures, expanding diagnostic services industry and massive patient base in countries like India and China. Favorable governmental policies and initiatives targeted towards modernization of healthcare facilities will further propel the regional market for digital pathology in coming years.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
