Digital Pathology Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2020-2027

The global digital pathology market size surpassed at US$ 767.6 million in 2019 and is expected to grow at a CAGR of over 12.3% from 2019 to 2027.

The global digital pathology market size is projected to surpass around US$ 1.1 billion by 2027, rising awareness about digital pathology and increase in demand for advanced technology are the factors likely to boost the growth of digital pathology market. Moreover, high incidence and prevalence of cancer and other chronic diseases is poised to escalate the growth of digital pathology market.

Overview

• Digital pathology (DP) is an image-based platform that involves managing, analyzing and interpreting digital information reflected on a digitized slide. Digital pathology technologies are utilized in many application areas such as forensic pathology, oral pathology and human pathology. Digital pathology is poised to streamline the workflow and activities of diagnostic laboratories and pathologists in near future
• Digital pathology market is currently booming owing to rise in research and development activities. Surge in incidence and prevalence of chronic diseases and demand for advanced therapeutics are leading to increase in demand for new drugs and medicines. This in turn is increase in focus of research and development.
• Increase in number of trade fairs and exhibitions are creating awareness about the benefits of digital pathology solution. For instance, the 2nd international conference of digital pathology was held in November 2017 which brought together research scientist, pathologist and professors from different countries to discuss the complete digital solution for pathology. Thus, rise in awareness towards usage of digital pathology solutions for diagnosis of disorders and diseases is anticipated to drive the growth of market.
• North America dominate the global digital pathology market in 2019 and the trend is anticipated to continue during the forecast period. Well established healthcare infrastructure, early adoption of advanced solutions and vast patient pool are the factors anticipated to drive the global digital pathology market in the region.
• Asia Pacific is likely to be a highly lucrative region for the digital pathology market and is expected to expand at a high CAGR during the forecast period. Demand for newer solutions, surge in geriatric population with various chronic diseases and growing government initiatives to improve healthcare infrastructure are key factors likely to boost the digital pathology market in Asia Pacific.

Rising Adoption of Telepathology and Virtual Pathology to Drive Global Digital Pathology Market

• IT and operations segments have rapidly expanded the use of virtualization technologies in the last few years. Pathology is considered to be visual science and telepatholgy and virtual pathology are the new landscape of diagnostic pathology
• Recent advances in telecommunication, microelectronics, sensor manufacturing, and data analysis techniques have created new possibilities for telepatholgy and virtual pathology in digital pathology market
• Telepatholgy is being practiced by many laboratories across the world and gaining popularity across the emerging economies which is expected to boost the growth of digital pathology market during the forecast period

Image Analysis Software Segment to Dominate Digital Pathology Market

• In terms of products, the global digital pathology market has been segmented into image analysis software and scanners. The image analysis software segment dominated the global digital pathology market in 2019  and the trend is projected to continue during the forecast period. Rising awareness about healthcare IT and rising demand for integrated advanced technology products are the factors anticipated to drive the growth of segment

Diagnostic Laboratories Segment Hold a Major Share of Global Digital Pathology Market

• In terms of end-user, the global digital pathology market has been classified into diagnostic laboratories, academic & research centers, pharmaceutical companies and others
• The diagnostic laboratories segment is likely to dominate the digital pathology market during the forecast period. Increasing number of diagnostics laboratories while scarcity of skilled pathologist across the globe is anticipated to fuel the growth of segment.

Diagnosis Segment to Dominate Global Digital Pathology Market

• Based on application, the global digital pathology market has been segmented into diagnosis, consulting services, educational and others
• The diagnosis segment dominated the global digital pathology market in 2019 and trend is projected to continue during the forecast period. Rising awareness about early diagnosis and increase in patient pool are the factors anticipated to drive the growth of segment.

North America to Dominate Global Digital Pathology Market

• In terms of region, the global digital pathology market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global digital pathology market in 2019, followed by Europe.
• North America accounted for major share of the global digital pathology market in 2019. High disease prevalence, presence of key players and supportive healthcare infrastructure are the major drivers of the digital pathology market in the region.
• The digital pathology market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. Rising awareness about telepathology, rise in healthcare infrastructure, unmet medical needs and untapped nature of the market are the key factors for market growth in the region

Competitive Landscape

• The global digital pathology market is fragmented in terms of number of players. Key players in the global digital pathology market include Leica Biosystems Imaging, Inc., OLYMPUS CORPORATION, F. Hoffmann-La Roche Ltd, Mikroscan Technologies, Inc. Koninklijke Philips N.V., Sectra AB and Inspirata 

Market Segmentation

By Product Type

• • Image Analysis Software
  • Scanner

By End-user

• • Diagnostic Laboratories
  • Academic & Research Centers
  • Pharmaceutical Companies
  • Others

By Applications

• • Diagnosis
  • Consulting Services
  • Educational
  • Others

By Region

• • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific          
    • China
    • India
    • Japan
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Report Scope

VRR’s report on the global digital pathology market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2019 to 2027. The report provides revenue of the global digital pathology market for the period 2017–2027, considering 2020 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global digital pathology market during the forecast period.

The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global digital pathology market.

Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global digital pathology market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global digital pathology market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global digital pathology market.

The report delves into the competitive landscape of the global digital pathology market. Key players operating in the global digital pathology market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global digital pathology market that have been profiled in this report.

Key Questions Answered in Global Digital Pathology Market Report

• What is the scope of growth for product companies in the global digital pathology market?
• What will be the Y-o-Y growth of the global digital pathology market between 2019 and 2027?
• What is the influence of changing trends in technologies on the global digital pathology market?
• Will North America continue to be the most profitable market for digital pathology providers?
• Which factors are anticipated to hamper the growth of the global digital pathology market during the forecast period?
• Which are the leading companies in the global digital pathology market?

Research Methodology

A unique research methodology has been utilized by VRR to conduct comprehensive research on the growth of the global digital pathology market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary research sources referred to by analysts during the production of the global digital pathology market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of VRR’s study on the digital pathology market as primary methods.

These primary research respondents have provided exclusive information during interviews, which serves as a validation from the digital pathology market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global digital pathology market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching VRR’s estimates on future prospects of the global digital pathology more reliably and accurately.