Digital pathology includes image acquisition, management, and interpretation of the data obtained from a digital slide enabled by technology. With the emergence of whole slide imaging, the area of digital pathology has boomed tremendously. It is one of the popular, low-cost, and fast avenues of diagnosis and prognosis of cancer and other chronic diseases.
Digital pathology systems, at present, are being used extensively in various clinical applications including frozen sections diagnosis, second opinion, subspecialty pathology diagnosis, education, and research. Virtual slides using digital diagnostic systems for second opinion are used more frequently in many developed countries and many others are in the process of adopting digital pathology for faster diagnosis.
Increased Healthcare Digitization and Wide Application in Clinical Research to Mainly Boost the Growth of the Market
- Increasing demand for digitization in healthcare to contribute to the digital pathology market size.
- Easy digital documentation and storage of pathological data is one of the top digital pathology trends in the market.
- Wide application in clinical research to encourage digital pathology companies to invest in innovation of solutions.
- Improved lab efficiency will help vendors gain higher digital pathology market share.
AI and Deep Learning Application in Image Analysis is the Latest Trend in Market
- Increasing use of digital pathology in medical development and comparison diagnostics in the global market.
- Integration of AI into healthcare to positively impact the digital pathology market.
Advent of Technological Advances for Image Analysis and Storage to Boost Software Segment
Based on component type, the market is segmented into scanners, software, and storage. The scanners segment accounted for the major share of around 20% to 25% of the digital pathology market. However, the software segment is anticipated to be the fastest-growing segment. Due to technological advances, more than 67% of patient data these days is in the form of images and many companies are exploring the opportunity of developing frameworks that will assist pathologists in pathological diagnostics.
Attainment of Lab Efficiency for Error Free and Accurate Diagnosis to Boost Disease Diagnosis and Drug Discovery Segment
Based on application, the market is segmented into research, disease diagnosis, drug discovery and development, and others. Disease diagnosis, drug discovery, and development together hold more than 40% of the market share and disease diagnosis is anticipated to be the fastest growing segment. In cancer therapy, analyzing glass slides and deriving meaningful results is a critical task. Hence, many players are developing systems supporting image analysis and management. This software facilitates handling images captured using digital cameras, slide scanners and image databases. It also helps pathologists detect, classify, count and evaluate cells, and tissues in the given image and leads the way to smarter diagnostics practices.
Increased R&D Activity with Focus on Process Optimization for Quick Results to Boost CROs and Biopharmaceutical Companies Segment
Based on end-user, the market is segmented into research & academic institutes, diagnostic & pathology labs, CROs and biopharmaceutical companies. CROs and biopharmaceutical companies hold the highest share of the market, but the diagnostic & pathology labs segment is anticipated to be the fastest-growing segment. This because increased focus on improving workflow efficiency and demand for faster diagnostic tools for chronic disease diagnosis, such as cancer are key factors driving the growth. The increasing prevalence of chronic diseases is anticipated to surge clinical urgency to choose digital pathology to enhance and boost existing inferior patient diagnosis measures and reduce high costs associated with conventional diagnostics.
Presence of Prominent Players and Rise in Use of Tissue Biopsy to Boost Market in North America
Based on region, the market is segmented into North America, Europe, APAC, Latin America, and Middle East & Africa. North America dominated the market, although APAC is anticipated to be the fastest-growing market. The US alone has over 27,000 pathologists and 87,000 molecular biologists. With 700 new drug targets under discovery and more than 2.9 million confirmed cancer cases per year, hundreds of millions of slides are to be analyzed annually, thus unveiling immense potential opportunities for the growth of the market.
The digital pathology market is consolidated with major players offering wide range of products, data storage, and management solutions. Moreover, there are many new entrants focused into exploring the adoption of AI and deep learning in digital pathology. Some prominent players in the digital pathology market include Leica BioSystems, Charles River Laboratories International, Roche, Hamamatsu, 3DHISTECH, Visiopharma, Indica Labs HALO, Definiens Tissue Studio, Proscia, Myriad Genetics, Inc., Philips Healthcare, Aiforia, Dainippon Sumitomo Pharma, Silence Therapeutics, Lunit, Visikol, OXIPIT, Pathology Watch, Deep Lens, Instapath Inc., DECIPHEX LIMITED, DTx Pharma, SONRAI ANALYTICS LTD, Decipher Analytics, and Paige.AI among others. The market is anticipated to be highly competitive where the vendors are exploring opportunities to diversify their products or acquire new products. Furthermore, regulatory agencies are supporting digital specimens for research and educational purpose, and it has gained immense popularity in clinical application. Vendors are signing M&As with prominent software vendors for the acquisition, processing, and analysis of images from tissue micro arrays to strengthen their networks and grow their market share. These initiatives will help find application in identification of novel drugs at the research and development stage.
Who Would Be Interested in This Research:
- Digital health Vendors
- AI Technology Vendors
- Pharmaceutical Companies
- Pathology Universities
- Pathology Lab Service Providers
- Point of Care Devices Manufacturers
- Healthcare Institutions
- Venture Capitalists and Investors
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The digital pathology market research report will include in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
Segmentation by Component Type
Segmentation by Application
- Disease Diagnosis
- Drug Discovery & Development
Segmentation by End-User
- Research & Academic Institutes
- Diagnostic and Pathology Labs
- Biopharmaceutical Companies
Segmentation by Geography
- North America
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
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