Digital Pathology Market Size to Reach Revenues of USD 1,277.64 Million by 2026 – Arizton

Digital pathology market size to reach USD 1,277.64 million in 2026, growing at a CAGR of 10.43% during the period 2020­–2026

CHICAGO, ILLINOIS, UNITED STATES, July 15, 2021 /EINPresswire.com/ — In-depth analysis and data-driven insights on the impact of COVID-19 included in this global digital pathology market report.

The digital pathology market is expected to grow at a CAGR of over 10.43% during the period 2020−2026.

Key Highlights Offered in the Report:
1. COVID-19 has increased the acceptance of digital pathology solutions because of the need of performing remote pathological operations during the lockdown phase. Many healthcare providers across the globe have adopted digital pathology solutions as a part of their workflow.
2. The hardware segment has been dominating the market, which is also expected to continue during the forecast period with an estimated incremental growth of USD 321 million. The storage segment is growing at a faster rate than the others, with an estimated absolute growth of 105%.
3. The academic research and teaching segment is estimated to witness the highest incremental growth of USD 258 million.
4. Academic & research institutes held a major share with a market value of USD 340 million in 2020. Among the end users, the pharmaceutical & biotechnology companies is expected to show a rapid growth during the forecast period, which is estimated to show an absolute growth of 87%.
5. The digital pathology market is led by the North America region, which was valued at USD 256 million in 2020. The APAC region is estimated to show rapid growth during the forecast period, which is estimated to show an absolute growth of 101%.
6. The digital pathology market being an emerging market is highly competitive. The software business is easy to enter which is also seeing entry of many new vendors.
7. Many new vendors are providing hardware as a service, where a client can send their glass slide and get it converted to a whole slide image (WSI).

Key Offerings:
• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by application, component type, end-user, and geography
• Competitive Landscape – 7 key vendors and 17 other vendors

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Digital Pathology Market – Segmentation

• The global digital pathology academic research and teaching market is expected to reach USD 598.58 million by 2026. The demand for digital pathology solutions is likely to witness exponential growth as they help to educate and train professionals in pathology and histopathology services from remote locations.
• The inclusion of artificial intelligence in digital pathology solutions and machine & deep learning have improved disease analysis, thereby influencing the growth of in academic and research institutes. Diagnostic and pathology laboratories are likely to account for over USD 358.58 million by 2026. The growth can be attributed to the increasing acceptance in Europe, APAC, and Middle East and African countries.
• As technology advances, the accuracy and scope of digital slide scanners are expanding to cover several fields of pathology. The increasing demand for digital pathology solutions and innovations in scanning technology boost the growth of the hardware segment, which is likely to continue during the forecast period.

Digital Pathology Market by Application
• Academic Research & Teaching
• Disease Diagnosis
• Drug Discovery & Development
Digital Pathology Market by Component Type
• Hardware
• Software
• Storage
Digital Pathology Market by End-user
• Diagnostic & Pathology Laboratories
• Pharmaceutical and Biotechnology Companies
• Clinical Research Organizations
• Academic & Research Institutes

Digital Pathology Market – Dynamics

In digital pathology, AI is used for image analysis and managing the medical database, which includes patient records. In present days, digital pathology is becoming a technical requirement for clinical laboratories. With the increasing advantages and usability of WSI scanners and the availability of faster networks and cheaper storage services, it is now easier for pathologists to manage digital pathology solutions. Integrating digital pathology solutions with AI has expanded its areas of application. AI serves as an assistive tool for pathologists to expand their vision beyond the microscopic limits and provide a more advanced means of image analysis. In the conventional workflow of digital pathology, the first slide is prepared for the tissue sample obtained from the patient, and then it is scanned using WSI scanners, which create a digital copy of that slide. Once the slide has been prepared, it is uploaded into image analysis software for analysis. Integrating AI in this process adds various tools such as machine learning, deep learning, and NLP (Neuro Linguistic Programming). The introduction of such tools in image analysis provides a more efficient way of analyzing the specimen slide and minimizes the chances of human errors.

Key Drivers and Trends fueling Market Growth:
• Increasing Use of Digital Pathology in Medical Development and Companion Diagnostics
• Implementation of Blockchain in the Management of EHR
• Digitalization of Healthcare
• Growing Use of Cloud Storage Services

Digital Pathology Market – Geography

North America had a 36.28% market share of the global digital pathology market in 2020. It holds a leading position in the global digital pathology market based on revenue as well as market share. The growth of the digital pathology market in the North American region is attributed to the shift toward the digitalization of healthcare. Healthcare in the US and Canada is seeing a major reformation focused on advancing the available digital technologies in healthcare and using this shift to create more value-based opportunities. This shift is focused on increasing the efficiency of healthcare to improve its accessibility and affordability. As a part of this, healthcare facilities are incorporating many digital technologies in their workflow. This digitalization is driven by federal government regulations, financial incentives, innovations in healthcare, and the focus on lowering the economic impact of healthcare.

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Digital Pathology Market by Geography
• North America
• US
• Canada
• Europe
• UK
• Germany
• France
• Italy
• Spain
• APAC
• China
• India
• Japan
• South Korea
• Australia
• Latin America
• Mexico
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• Saudi Arabia
• Turkey
• South Africa

Major Vendors
• Koninklijke Philips
• F. Hoffmann-La Roche
• Leica Biosystems Nussloch
• Hamamatsu Photonics
• Sectra AB
• 3DHISTECH
• Hologic

Other Prominent Vendors
• Aiforia
• Akoya Biosciences
• Deep Lens
• Deciphex
• Huron Technologies International
• Ibex Medical Analytics
• Instapath
• Inspirata
• Microsoft
• NVIDIA
• OptraSCAN
• Paige AI
• PathologyWatch
• Proscia
• Sonrai Analytics
• Visiopharm
• Visikol

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Jessica
Arizton Advisory and Inteligence
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