NEW YORK, April 3, 2024 /PRNewswire/ — The global digital pathology market size is estimated to grow by USD 716.93 mn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of almost 13.2% during the forecast period. Digital pathology systems streamline workflows through digital slide acquisition, storage, and sharing. However, data safety concerns arise due to the large volume of data and the use of cloud-based storage. Major concerns include reliable data storage. Providers promote cloud solutions due to cost savings. Key players include 3DHISTECH, Aiforia Technologies, Akoya Biosciences, Indica Labs, and Paige, offering AI tools for diagnosis and research. Regulatory requirements and recent developments shape the competitive landscape.
Technavio has announced its latest market research report titled Global Digital Pathology Market 2023-2027
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The Product segment emerges as the fastest-growing segment in the digital pathology market
The Global Digital Pathology Market experienced significant growth in 2022, with digital slide scanners accounting for the largest share. Factors driving this segment’s expansion include increased research activities in academic institutions, enhanced slide image resolution, and technological advancements in slide magnification and scanning. The rise of artificial intelligence (AI) in pathology is revolutionizing diagnostic pathways, particularly in cancer detection, enabling more informed healthcare decisions. New cases of diseases and the need for accurate diagnosis have led to an increase in demand for Digital Pathology solutions. Pathologists collaborate and form partnerships with vendors to leverage AI-powered digital imaging and AI-based digital pathology platforms. Digital slides, scanning devices, and software enable pathology techniques to be performed on a computer screen or mobile device. This digitization of healthcare procedures offers cost savings and revenue generation potential. Technological advances in automation continue to propel market growth, with recent innovations such as OptraSCAN’s OS-Ultra 320 digital pathology high-end scanner.
The Digital Pathology Market is experiencing significant growth in North America, driven by medical advancements in pathology and diagnostic pathways. With increasing new cancer cases and a focus on cancer detection, digital pathology solutions are revolutionizing healthcare decisions. Digital slides created using scanning devices like Aperio Digital Pathology Slide Scanners from Danaher Corp. are replacing traditional glass slides on computer screens and mobile devices. Technological advances, including automation and AI-powered digital imaging, are streamlining diagnostic services and research activities. Notable companies, such as 3DHISTECH, predia, Pathology Innovation Incubator, Aiforia Technologies, Akoya Biosciences, Ibex Medical Analytics, Indica Labs, Paige, Path, AIPROSCIA, Roche Tissue Diagnostics, and Visiopharm, are leading the way with AI-based digital pathology offerings. These innovations offer cost savings, revenue generation potential, and improved diagnostic accuracy, reducing disparities in healthcare. Recent developments include FDA approvals and strategic investments in this sector.
Commenting on the market trends, a Senior Analyst of Technavio, stated,” The Digital Pathology Market is experiencing significant growth due to AI integration in image analysis and machine-learning algorithms. Whole slide scanning capabilities and deep-learning algorithms are revolutionizing diagnosis in digital pathology. Vendors focus on AI-powered software for automation and decision-making. Applications include disease diagnosis in hospitals, research institutes, and drug discovery. Market size is expanding with investments from companies like Olympus Corporation in digitalization and innovation.”
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Analyst Review
The Digital Pathology Market is experiencing significant growth and innovation in the healthcare industry, driven by the digitalization of medical diagnostics. This trend is particularly prominent in the field of pathology, where software analysis of medical slides is revolutionizing disease diagnosis. Imaging technology plays a crucial role in this process, enabling pathologists to examine tissue samples with greater precision and accuracy. The use of digital slides in research and laboratory settings is becoming increasingly common, offering numerous benefits such as improved efficiency, reduced costs, and enhanced collaboration. The global market for digital pathology is expected to continue its robust expansion, fueled by the ongoing transformation of healthcare technology.
Market Overview
The Digital Pathology Market is experiencing significant growth due to the integration of technology in the field of pathology. Pathology labs are adopting digital pathology solutions to enhance diagnostic accuracy and efficiency. These solutions include digital slides, whole slide imaging systems, and AI-powered diagnostic tools. The market is driven by factors such as increasing incidence of chronic diseases, rising healthcare expenditure, and the need for remote diagnosis. Companies like Philips, Fujifilm, and Leica Biosystems are leading players in the digital pathology market. The market is expected to grow at a CAGR of 12.5% from 2021 to 2028. The use of digital pathology in cancer diagnosis and research is a major application area, and the market is expected to see significant growth in this segment. The market is also witnessing the adoption of telepathology, which enables remote diagnosis and consultation, and is particularly useful in rural areas and developing countries. The market is expected to face challenges such as high implementation costs and data security concerns. However, the benefits of digital pathology, such as improved diagnostic accuracy, reduced turnaround time, and increased productivity, are expected to outweigh these challenges.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
