Digital Pathology Market Will Surpass $1,371 Million at 13.2% CAGR Growth | Leica Biosystems (US), Koninklijke Philips N.V. (Netherlands), Hamamatsu Photonics (Japan), F. Hoffmann-La Roche Ltd. (Switzerland), 3DHISTECH (Hungary)

The "Global Digital Pathology Market Analysis" is a detailed and specialised analyses of the Digital Pathology Market, with a focus on global market trends and analysis. The goal of this research is to provide a broad overview of the Digital Pathology Market as well as detailed market segmentation by connection type, end-use, and geography. The Digital Pathology Market is estimated to grow considerably throughout the forecast period. The study comprises vital data on the market positions of the leading Digital Pathology players, as well as relevant industry trends and opportunities.

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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.

Key Players:

The major players in the global Digital Pathology market are 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).

Digital Pathology Market Dynamics

Driver: Increasing adoption of digital pathology to enhance lab efficiency

Digital pathology helps improve lab efficiency by reducing costs, decreasing turnaround times, and providing users with access to subject-matter expertise. Improvements in lab efficiency are critical as patients and physicians are dependent on lab results for diagnostic decisions, and diagnostic tests are required to be completed and reported quickly & accurately. Moreover, access to digital slides via web services eliminate shipping costs and travel time for pathologists. The outbreak of the COVID-19 pandemic has led to the implementation of lockdowns and social distancing restrictions. Such restrictions have increased the demand for digital pathology solutions, as pathologists can use these to view diagnostic results for primary diagnosis remotely.

Restraint: High cost of digital pathology systems

A typical digital pathology system, which includes a slide scanner, an image server, and software, costs around USD 500,000 to USD 700,000. The average price of a digital pathology scanner in the Asia Pacific is around USD 110,000 to USD 130,000. Although large hospitals with significant capital budgets can afford these systems, pathologists and academic institutes with limited budgets or IT support often cannot afford them. Healthcare providers, particularly in developing countries like India, Brazil, and Mexico, have low financial resources to invest in such costly technologies. Moreover, trained staff is required for the efficient handling and maintenance of digital pathology systems. The high cost of these systems, coupled with the challenge of a dearth of skilled personnel to operate digital pathology systems, is expected to limit the adoption of these systems.

Opportunity: Introduction of affordable scanners for private pathology practices

The price point of digital pathology hardware, including scanners, is a major restraint to market growth. Therefore, the development of affordable scanners is expected to offer growth opportunities for players operating in the digital pathology market. Most private medical practices are small businesses and cannot afford expensive digital pathology systems. The introduction of affordable scanners and the propensity of small players to move towards digitization of pathology workflow will encourage its adoption among pathologists with low or limited budgets.

Challenges: Shortage of trained pathologists
Pathologists play a crucial role in performing laboratory tests essential for disease diagnosis. However, there is a gap between the supply and demand of pathologists worldwide, especially in Africa and the Asia Pacific region countries. According to a Springer study (2020), Switzerland's number of inhabitants per pathologist is 35,355; in Canada and the US, this number is 20,658 and 25,325, respectively. In Germany, there is one pathologist per 47,989 inhabitants.

Digital pathology enables medical practitioners to remotely share important information with pathologists beyond geographical boundaries securely and timely. Moreover, advanced technologies, such as AI and machine learning, helps pathologists identify diseases faster and help improve their efficacy and efficiency. Thus, the alarming shortage of pathologists is expected to result in the increased utilization of digital pathology for providing remote pathological consultation and services.

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Market Scope:

The study uses a SWOT analysis to evaluate the strengths and weaknesses of the market's leading competitors. The researcher undertakes a complete examination of the Digital Pathology Market size, share, trends, total earnings, gross revenue, and profit margin to accurately forecast the market and provide investors with expert advice on market changes.

The report also includes company biographies, product images and specs, capacity, production, pricing, cost, revenue, and contact information for the Global Digital Pathology Market's leading industry players. The Digital Pathology Market Trends, Volume, and Value at the Global, Regional, and Company Levels are investigated in this report. By examining historical data & forecasts, this study examines the overall Digital Pathology Market Size from a worldwide viewpoint.

Regional Analysis:

The Digital Pathology study goes into detail about the market area, which is divided into sub-regions & countries. Profit estimates as well as market share in each country are included in this portion of the research. This section of the report examines the share and growth rate of each region, country, & sub-market region during the forecasted period.

After assessing political, economic, social, & technical variables affecting the Digital Pathology Market in various regions, the research presents a comprehensive PESTLE analysis for all five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.

COVID-19 Impact Analysis on Digital Pathology Market:

As a result of the COVID-19 outbreak, customer behaviour has changed in all spheres of society. Industries, on the other hand, will have to adjust their strategies to accommodate changing market supplies. This study will help you build your company in compliance with the new industry standards by providing an overview of the COVID-19's impact on the Digital Pathology Market.

The Digital Pathology Market Report includes a 360-degree overview of the COVID-19 pandemic, including the flexible supply chain, import and fare control, provincial government policies, and future influence on the company. Itemized research on the market situation, venture rivalry example, benefits and drawbacks of huge business products, industry development patterns, territorial modern format qualities and macroeconomic approaches, and mechanical arrangement were all included.

Key Questions Answered in the Digital Pathology Market Report are:

What is the market potential for Digital Pathology?
Which regional market will emerge as a leader in the next years?
Which application category will see rapid growth?
What chances for development could exist in the Digital Pathology sector in the upcoming years?
What are the most important future obstacles that the Digital Pathology Market may face?
Who are the market leaders in the Digital Pathology segment?
What are the primary trends that are positively affecting market growth?

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