The report is titled ‘Digital Pathology Market: Future Opportunities and Trend Analysis 2022-2030’. The report highlights insights into the current market scenario, key expectations, and future trends and expectations from the market. The digital pathology market is expected to register impressive growth in the near future due to an increase in demand and applicability of digital pathology in the pharmaceutical and diagnostic industry.
The global digital pathology market is anticipated to register significant growth from 2022-2030. However, the high initial and maintenance cost and lack of trained pathologists can restrain the growth in this market. Despite the heavy initial cost, the development of affordable digital pathology devices is the major opportunity that can change the competitive position in the market.
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Digital Pathology Introduction
Digital pathology is an inclusion of all the pathology information through the digital diagnosis of the disease. It uses glass slides that can be easily captured via a scanning tool and help in providing a digitized image of the disease that is easily accessible through computer or mobile devices. This helps the pathologists to easily analyse the disease and also eliminates the need to have a physical diagnostic report.
Digital pathology is categorized into three categories, Scanners, Storage and communication systems, and software. The Digital pathology scanners provide AI-based solutions for scanning the digital glass slides. The Storage and communication system is cloud-based storage for managing the digital glass slide. Digital pathology software helps the pathologist to analyse the digital glass slide while increasing the performance and efficiency of diagnosing the disease.
Digital Pathology Market Dynamics
The growth in the digital pathology market is majorly driven by the increase in the number of cancer patients, rapid advancement in technology due to the rise in competition, and increased demand for more precise diagnostic results. Covid-19 also has a positive influence on the industry and the trend is expected to continue post-Covid-19. The government regulations have also supported the use of digital pathology across the globe. Moreover, the inclusion of Artificial Intelligence in pathology has also strengthened the diagnostic results with more accurate results. This enabled the drug development process to take less time and be more cost-efficient. Additionally, the rise in collaborations between digital documentation and researchers has led to more adaptability of the technology across the medical industry.
Following the covid-19, the industry has become more aware of the use and benefits of digitally diagnostic pathology results. With the laboratories becoming more remote, the applicability of the computer-based diagnostic result has seen tremendous growth. This trend is expected to be the same in the following years with more advancements in the technologies that reduce the physical use of laboratories.
Digital Pathology Market Regional Dynamics
The North American region is the current leading market and is projected to continue to dominate the global digital pathology market for the forecast period. The United States and Canada are the dominant countries that are owning the growth in this sector. The rise in the numerous cancer cases, heavy flow of R&D investments, rise in the number of key markets players, and the growth in innovation are the leading factors that are supporting the future trend in this market.
Despite the dominant position, Asia pacific region is expected to register the fastest growth during the forecasted period. Asia Pacific region has major emerging economies including India, Chiana, Indonesia, and Thailand which are the leading countries that are boosting the growth in this region. The rise in penetration of the digital diagnostic, rise in investment to develop healthcare infrastructure, and untapped opportunities present in the Asia Pacific region are strengthening the growth. Furthermore, the region is having the highest population in the world and the rise in cancer patients will directly impact the growth in this region.
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Digital Pathology Market Segmentation
The global digital pathology market is segmented based on product type, application, end-users and regions. According to the product types, the digital pathology market is divided into three types mainly Scanners, Storage and Communication Systems and Software. Whereas, based on the application the market is divided into various groups including, disease diagnosis, training and education, teleconsultation and drug discovery. The market has three major end-users including Biotechnology and pharmaceutical companies, Hospital and diagnostic laboratories, and educational research Intuitions. The regional diversification includes North America, Latin America, Europe, Asia Pacific, Middle East and Africa.
Digital Pathology Market Key Players
Some of the key global market players are Danaher Corporation, 3DHISTECH, Hamamatsu Photonics, Koninklijke Philips N.V., Visiopharm A/S, Mikroscan Technologies, Inspirata, Inc., Indica Labs, F. Hoffmann-La Roche Ltd. And others.
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