Digital pathology market to exceed USD 2.3B by 2035

According to a recently published report by Roots Analysis, the growing preference for advanced diagnostic tools and technology for quick disease diagnosis is driving the growth of the digital pathology market.

Digital pathology market overview
The global digital pathology market size was estimated at USD 0.8 billion in 2023 and is expected to reach over USD 2.3 billion by 2035, growing at a CAGR of 8.4% in the forecast period 2023- 2035.

Pathology refers to the branch of medical science that primarily emphasizes the causes, genesis, and diagnosis of diseases. Clinical pathology is crucial in examining diseases, causative agents, and cancer detection. Based on the pathological reports, healthcare experts can provide precise drugs and therapies to treat patients. 70-80% of treatment decisions are made based on diagnosis reports. However, the conventional diagnosing approach is tedious, time-consuming, and invasive, which might be inconvenient for patients and often result in errors. Digital pathology system emerges as a viable solution to diagnose disease comparatively faster and reduces the chances of human errors. AI-powered digital pathology involves sample collection, management, analysis, and data sharing within digital settings, reducing the time and effort required for diagnosing. Considering the significance of digital pathology, the market is anticipated to grow substantially during the forecast period.

Market drivers
Several market drivers driving the digital pathology market include higher laboratory efficacy and reduced diagnosing costs. Digital pathology has significantly reduced the turnaround times required for diagnosing diseases. Quick sample analysis allows healthcare experts to provide appropriate treatment to cure patients. Moreover, digital pathology facilitates diagnosing in remote settings, reducing the travel time required for diagnosing diseases to the pathologist. Driven by the significance of digital pathology, several market players continue to adopt AI-based digital pathology, which becomes the primary reason for the growth of digital pathology during the forecast period.

Market restraints
Several market restraints restricting the growth of the digital pathology market are the high cost of AI-powered systems and the limited availability of experts. Installation of digital pathology requires tech-driven systems, AI-based scanners, image servers, sample analyzers, collectors, and diagnosing software. The cost of an extensive tech-driven system is extremely high. Furthermore, digital pathology requires technical experts to contribute significantly to the system installation cost.

Growth factors
Despite market restraints, the digital pathology market continues to grow due to the increasing investment in the healthcare field to introduce advanced solutions for diagnosing and treatment. Since 2016, digital pathology firms have surpassed funding USD 1.6 billion, while the majority of the funds are raised in the year 2021. Moreover, market players are currently focusing on developing affordable scanners and diagnosing tools to reduce the cost of installing digital pathology systems.

Key companies profiled 
The market report also includes detailed profiles of key players (listed below) that offer digital pathology solutions:

• Aiforia Technologies
• Akoya Biosciences
• Ibex Medical Analytics
• Indica Labs
• Paige
• PathAI
• PROSCIA
• Roche Tissue Diagnostics
• Visiopharm

Roots Analysis