Digital Pathology Market 2022 - Growing applications of digital pathology in drug development and companion diagnostics

The Digital Pathology Market report furnishes numerous business associations with the necessary data to multiply their business range inside the worldwide market. The Digital Pathology Market report is the assortment of all the market-related subtleties directly from the funds, territorial advancement, and future market development rate. It likewise addresses the market valuation, which includes the market size, income, and offer to be familiar with the current market position on both the territorial and worldwide platforms.

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The Digital Pathology Market study contains an in detail descriptive overview and analysis of the market, a summary of the market shares constituted by each component, the annual growth of each sector, and the revenue potential of the section. In addition, the production and consumption data are used to determine the geographical features.

The major players in the Digital Pathology market include Leica Biosystems (US), Koninklijke Philips N.V. (Netherlands), Hamamatsu Photonics (Japan), F. Hoffmann-La Roche Ltd. (Switzerland), 3DHISTECH (Hungary), Apollo Enterprise Imaging (US), XIFIN, Inc. (US), Huron Digital Pathology (Canada), Visiopharm A/S (Denmark), Aiforia Technologies Oy (Finland), Akoya Biosciences (US), Corista (US), Indica Labs (US), Objective Pathology Services (Canada), Sectra AB (Sweden), OptraSCAN (US), Glencoe Software (US), KONFOONG BIOTECH INTERNATIONAL CO., LTD. (China), Inspirata, Inc. (US), PathAI (US), Proscia Inc. (US), Kanteron Systems (Spain), Mikroscan Technologies (US), Motic (US), and Paige (US).

The global digital pathology market is projected to reach USD 1,371 million by 2026 from USD 736 million in 2021, at a CAGR of 13.2% during the forecast period. The growth in the digital pathology market is mainly driven by factors such as the increasing adoption of digital pathology to enhance lab efficiency, rising incidence of cancer, and growing applications of digital pathology in drug development and companion diagnostics. On the other hand, the high costs of digital pathology systems are expected to restrain market growth to a certain extent.

"The scanners segment accounted for the largest share of the Digital Pathology market in 2020."

Based on products, the digital pathology market has been segmented into scanners, software, and storage systems. The large share of the scanners segment can be attributed to the high price of scanners and the increasing adoption of digital pathology solutions.

"The human pathology segment accounted for the largest share of the Digital Pathology market in 2020

Based on type, the global digital pathology market is segmented into human pathology and veterinary pathology. The human pathology segment accounted for the largest share of the digital pathology market in 2020. This is due to the increasing number of cancer research activities and growing collaborations among research institutes, universities, and pathology laboratories.

"The drug discovery, segment accounted for the largest share of the Digital Pathology market in 2020."

Based on application, the digital pathology market is segmented into drug discovery, disease diagnosis, and training & education. The drug discovery segment accounted for the largest share of the digital pathology market in 2020. Growth in R&D expenditure fueled by the need for numerous preclinical and clinical studies performed during the drug discovery and development process is a major factor responsible for market growth.

"The pharmaceutical & biotechnology companies, segment accounted for the largest share of the Digital Pathology market in 2020."

Based on end users, the global digital pathology market is segmented into pharmaceutical & biotechnology companies, hospitals & reference laboratories, and academic & research institutes. The pharmaceutical & biotechnology companies segment accounted for the largest share of the digital pathology market in 2020. The large share of this segment can be attributed to the increasing use of digital pathology for drug discovery studies and drug toxicology testing. Biotechnology companies also use digital pathology for biobanking, biopharmaceutical studies, molecular assays, and the development of individualized medicine.

"The market in North America is projected to witness the highest growth rate during the forecast period (2021-2026)."

North America accounted for the largest share of the digital pathology market in 2020. The increasing prevalence of cancer, rising demand for quality diagnostics, the introduction of favorable reimbursement policies, and the implementation of favorable initiatives by the governments in the US and Canada are major factors driving the growth of the digital pathology market in North America.

A breakdown of the primary participants referred to for this report is provided below:

By Company Type (Supply-side): Tier 1: 29%, Tier 2: 37%, and Tier 3: 34%
By Company Type (Demand-side): Tier 1: 55%, Tier 2: 35%, and Tier 3: 10%
By Designation: C-level: 35%, Director-level: 25%, and Others: 40%
By Region: North America: 35%, Europe: 32%, Asia-Pacific: 22%, and RoW:11%

Research Coverage:

The report analyzes the digital pathology market and aims at estimating the market size and future growth potential of this market based on various segments such as product, and region. The report also includes competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.

Reasons to Buy the Report

The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one, or a combination of the below mentioned five strategies.

This report provides insights into the following pointers:

Market Penetration: Comprehensive information on the product portfolios of the top players in the digital pathology market. The report analyzes the market based on the products and region.

Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the digital pathology market.

Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various types of digital pathology solutions across regions.

Market Diversification: Exhaustive information about products, untapped regions, recent developments, and investments in the digital pathology market.

Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the digital pathology markets.

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