Global Digital Pathology Market Set for Rapid Growth, to Reach Value Around USD 980 Million by 2024

Zion Market Research has published a new report titled “Digital Pathology Market – by Product Type (Software, Scanners, Storage Systems, and Communication Systems), by Technology (Whole Slide Imaging, Storage, Communication and Integrated Platforms, and Image Analysis-Informatics), by Application (Drug Discovery, Teleconsultation, Training and Education, and Disease Diagnosis), and by End-User (Biotechnology & Pharmaceutical Companies, Research & Academic Institutes, Hospitals and Reference Laboratories, and Contract Research Organizations): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global demand for digital pathology market was valued at approximately USD 430 million in 2017 and is expected to generate a revenue of around USD 980 million by end of 2024, growing at a CAGR of around 12% between 2018 and 2024.

An image-based digital information set in accordance with computer technology which allows organizing the generated information through a digital slide is known as digital pathology. The field of digital pathology and assessment of digital whole slide images is growing tremendously in the last few years. The digital pathology helps to view, manage, share, and analyze the sample by converting the glass slide of the virtual microscope into digital slides on a computer. The advancement in diagnostics techniques such as whole slide imaging is expected to propel the growth of the digital pathology market. Digital pathology is one of the most promising diagnostics tools for economical and faster diagnosis, prediction, and prognosis of chronic diseases; hence it is expected to propel the growth of the global digital pathology market.

The global digital pathology market is segmented in terms of product type, applications, technology, end user, and geography. Based on product type, the digital pathology market is segmented into software, scanners, storage systems, and communication systems. The software segment is anticipated to register high CAGR during the forecast period. The advanced functions for diagnosis of disease and user-friendly nature of software are the key factors contributing towards the high growth of software segment in the global digital pathology market.

On the basis of technology, the digital pathology market is segmented as whole slide imaging, storage, communication and integrated platforms, and image analysis-informatics. The image analysis information segment accounted for the highest share in the global digital pathology market. The capacity of image analysis informatics to analyze a large number of images is fueling the growth of segment in the global market. Moreover, it compares data of an image with other data for enhanced results and also helps in decision making by analyzing difficult structure & features of the provided samples.

Based on the application, the digital pathology market is segmented into drug discovery, teleconsultation, training and education, and disease diagnosis. The teleconsultation segment accounted for the highest share in the global digital pathology market. Growing demand for teleconsultation for fast and quality diagnosis is anticipated to propel the growth of the segment in the coming years.

On the basis of the end user, the digital pathology market is segmented as biotechnology & pharmaceutical companies, research & academic institutes, hospitals and reference laboratories, and contract research organizations. The biotechnology & pharmaceutical companies segment accounted for the highest share in the global digital pathology market. Growing research and development in the pharmaceutical and biotechnology companies and rising mergers and acquisition among the key players are expected to propel the growth of segment in the global digital pathology market.

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are key regional segments of the global digital pathology market. North America and Europe anticipate remaining the leading regions over the forecast period. The Asia Pacific is expected to register high growth in the digital pathology market.

Some of the key players in digital pathology market include Hamamatsu Photonics K.K., 3DHISTECH Ltd., Leica Biosystems Nussloch GmbH, Koninklijke Philips N.V., XIFIN, Inc., Huron Digital Pathology Inc., Objective Pathology Services., Visiopharm, Corista., Indica Labs, Ventana Medical Systems, Inc., Pixcelldata Ltd., Nikon Corporation, and Apollo Enterprise Imaging. Major players are frequently engaged in mergers & acquisitions to retain their market share and diversify their product portfolio.

This report segments the global digital pathology market as follows:

Global Digital Pathology Market: Product Type Segment Analysis

• Software
• Scanners
• Storage Systems
• Communication Systems

Global Digital Pathology Market: Technology Segment Analysis

• Whole Slide Imaging
• Storage, Communication and Integrated Platforms
• Image Analysis-Informatics

Global Digital Pathology Market: Application Segment Analysis

• Drug Discovery
• Teleconsultation
• Training and Education
• Disease Diagnosis

Global Digital Pathology Market: End User Segment Analysis

• Biotechnology & Pharmaceutical Companies
• Research & Academic Institutes
• Hospitals and Reference Laboratories
• Contract Research Organizations

Global Digital Pathology Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

– Zion Market Research