Global Digital Pathology Market to Grow at CAGR of 13.6% to 2028 | Key Players, Demands, Size, Share and Future Outlook Report

The global digital pathology market is projected to reach USD 1.8 billion by 2028 from USD 0.9 billion in 2023, at a CAGR of 13.6% during the forecast period. Growth in the digital pathology market is mainly driven by factors such as the growing applications of digital pathology in drug development, growing awareness of early cancer diagnosis in emerging economies, and recommendations for cancer screening.

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On the other hand, the high costs of digital pathology systems are expected to restrain market growth to a certain extent.

Some of the prominent players operating in the digital pathology market include Danaher Corporation (US), Koninklijke Philips N.V. (Netherlands), Hamamatsu Photonics K.K. (Japan), F. Hoffmann-La Roche Ltd. (Switzerland), 3DHISTECH (Hungary), , Objective Pathology Services Limited (Canada), Sectra AB (Sweden),OptraSCAN (US), Akoya Biosciences, Inc. (US), Glencoe Software, Inc. (US), Aiforia (Finland), Paige AI, Inc. (US), Fujifilm Holdings Corporation (Japan), Apollo Enterprise Imaging (US), XIFIN, Inc. (US), Huron Digital Pathology (Canada), Hologic, Inc. (US), Corista (US), Indica Labs Inc. (US), Proscia Inc. (US), KONFOONG BIOTECH INTERNATIONAL CO., LTD. (China), Mikroscan Technologies, Inc. (US), PathAI (US), Motic Digital Pathology (US), KONFOONG BIOTECH INTERNATIONAL CO., LTD. (China), Mikroscan Technologies, Inc. (US), and Kanteron Systems (Spain).

Software segment is projected to grow at the highest CAGR during the forecast period

By product, the global digital pathology market is segmented into scanners, software, and storage systems. The software segment is projected to grow at the highest CAGR during the forecast period. This can be attributed to the high adoption of integrated software by pathologists, and increased adoption of digital pathology software solutions in various healthcare facilities for remote primary diagnosis.

Human pathology segment is projected to grow at the highest CAGR during the forecast period

By type, the digital pathology market is segmented into human pathology and veterinary pathology. In 2023, the human pathology segment is projected to grow at the highest CAGR due to the growing awareness of early cancer diagnosis in emerging economies, and growing collaborations among academic research institutes, universities, and pathology laboratories.

Drug discovery segment is projected to grow at the highest CAGR during the forecast period

By application, the digital pathology market is segmented into drug discovery, disease diagnosis, and training & education. In 2023, drug discovery application segment is projected to grow at the highest CAGR during the forecast period. The growth in high throughput screening and imaging, and the rising number of preclinical & clinical studies are the major factors responsible for the large share and high growth rate of the drug discovery application segment.

Pharmaceutical & biotechnology companies end user segment is projected to account for the largest share of the digital pathology market

By end user, the digital pathology market is broadly segmented into pharmaceutical & biotechnology companies, hospitals & reference laboratories, and academic & research institutes. Pharmaceutical & biotechnology companies are the largest end users of the digital pathology market. In 2023, the pharmaceutical & biotechnology companies segment is projected to account for the largest share of the digital pathology market due to growing use of digital pathology for drug toxicology testing. Biotechnology companies use digital pathology for biobanking, biopharmaceutical studies, molecular assays, and the development of individualized medicine.

By region, North America is projected to account for the largest share of the digital pathology market

By region, North America accounted for the largest share of the digital pathology market in 2022. During the forecast period this market is expected to grow at the highest rate. Factors such as the growing geriatric population, rising prevalence of cancer, the presence of high-quality infrastructure, and the favorable reimbursement in the region are driving the growth of the market in North America.

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This release was published on openPR.