Is COVID-19 Impacting the Growth of the Digital Pathology Market Positively?

According to the latest Arizton's market research report, the digital pathology systems market size to reach USD 1277.64 million by 2026, growing at a CAGR of 10.43% during the forecast period.

Global Digital Pathology Systems Market Growth

Digital pathology is referred to as a revolutionary and cutting-edge technology. The adoption of AI and automation in the process is minimizing the requirement of human labor to manage digital pathology devices and the interface. The usage of cloud storage services is booming in the digital pathology systems market. The growth of the software segment in digital pathology systems is serving as another boost for the storage segment. The major growth enabler for the market is the use of digital pathology in clinical trials and clinical research. FDA suggested using remote digital pathology devices during the pandemic. There are many vendors providing AI-based algorithms for digital pathology. Proscia, Paige, PathAI, and Indica Labs are amongst the leading vendors in AI-based pathology solutions.

Most vendors are focusing on increasing the use of digital pathology solutions in pathology and diagnostic labs owing to the growing demand across all regions.
Canada became one of the first hospitals to implement digital pathology solutions for disease diagnosis.
The use of digital pathology solutions is majorly seen in the academic research & teaching segment. The global digital pathology market by academic research & teaching is expected to reach USD 599.14 million by 2026.
The hardware segment acquired a 61.60% market share of the global digital pathology market in 2020.
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The growth of the digital pathology market in the North American region is attributed to the shift toward the digitalization of healthcare. North America holds a leading position based on revenue and share in the global digital pathology market. The COVID-19 pandemic has helped create a necessity for digital pathology solutions to improve patient-pathologist relationships. This is expected to fuel the growth of the digital pathology market in North America. The US acquired a 90.20% market share of the digital pathology system market in North America. The increase in investment in drug discovery & development is fueling the clinical research market. This, in turn, is expected to boost growth in the digital pathology market across the region during the forecast period.

Strategies Adopted by the Players in the Global Digital Pathology Systems Market

Being an emerging market, digital pathology is highly competitive and is expected to grow even more competitive during the forecast period. The digital pathology systems market is dominated by four players such as Philips, Leica Biosystems, Hamamatsu Photonics, and Roche. Roche is one of the leaders in the pharmaceuticals market. It is rapidly expanding its product portfolio in digital pathology, which is expected to give tough competition to the Philips IntelliSite Pathology Solution. The key vendors are already developing product innovation, which is providing them with leading shares in the digital pathology market. AI integration solution is intensifying the competition among the players in the digital pathology system market.

Know more: https://www.arizton.com/market-reports/digital-pathology-market

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This release was published on openPR.