Digital Pathology Market worth $1.8 billion by 2028 | Danaher Corporation (US), Koninklijke Philips N.V. (Netherlands), KONFOONG BIOTECH INTERNATIONAL CO., F. Hoffmann-La Roche Ltd. (Switzerland)

Digital Pathology Market in terms of revenue was estimated to be worth $0.9 billion in 2023 and is poised to reach $1.8 billion by 2028, growing at a CAGR of 13.6% from 2023 to 2028 according to a new report by MarketsandMarkets™. The digital pathology market is mainly driven by factors such as the growing applications of digital pathology in drug development and companion diagnostics, growing awareness of early cancer diagnosis in emerging economies, and recommendations for cancer screening. On the other hand, the high costs of digital pathology systems are expected to restrain market growth to a certain extent.

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The human pathology segment has accounted for the largest market share during the forecast period.

Based on type, the digital pathology market is segmented into human pathology and veterinary pathology. The human pathology segment accounted for the largest share of 66.5% of digital pathology type market in 2022. The growing awareness of early cancer diagnosis in emerging economies, and increasing collaborations among academic research institutes, universities, and pathology laboratories drives the growth of the human pathology segment in the digital pathology market.

The scanners segment accounted for the largest share of 44.9% of the global digital pathology market

Basesd on product, the global digital pathology market is segmented into scanners, software, and storage systems. The scanners segment accounted for the largest share of 44.9% of the global digital pathology market in 2022. The large share of this segment can be attributed to the restrictions implemented in many countries owing to the COVID-19 outbreak are also expected to increase the installation of scanners to promote the remote viewing of tests by pathologists.

Drug discovery was the largest application segment of the digital pathology market.

Based on application, the digital pathology market is segmented into drug discovery, disease diagnosis, and training & education. In 2022, drug discovery was the largest application segment of the digital pathology market. The growth in the rising number of preclinical & clinical studies, high throughput screening and imaging, and increasing use of toxicology testing for illicit drugs are the major factors responsible for the large share of the drug discovery application segment.

North America accounted for the largest share of the Digital Pathology market

In 2022, North America accounted for the largest share and highest growth rate of the digital pathology market in 2022. The highest growth rate of the market can be attributed to the rising prevalence of cancer, growing geriatric population, and the presence of well-developed healthcare infrastructure in the region are expected to drive the growth of the market in North America.

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Digital Pathology Market Dynamics:

Drivers:

Increasing adoption of digital pathology to enhance lab efficiency
Rising incidence of cancer
Growing applications of digital pathology in drug development and companion diagnostics
Growing awareness of early cancer diagnosis in emerging economies
Recommendations for cancer screening

Restraints:

High cost of digital pathology systems
Opportunities:

Introduction of affordable scanners for private pathology practices
Growing demand for personalized medicine
High growth opportunities in emerging economies

Challenges:

Shortage of trained pathologists

Key Market Players:

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

Recent Developments:

In 2022, Danaher Corporation partnered with Indica Labs to deliver compatible digital pathology workflow solutions by maintaining file compatibility between Leica Biosystems Aperio GT 450 family of scanners with Indica Labs Halo family of software solutions.

In 2022, Hamamatsu received US FDA 510(k) clearance for the NanoZoomer S360MD Slide scanner system for primary diagnostic use.

In 2022, F. Hoffmann-LA roche ltd. Launched the VENTANA DP 600 slide scanner for digital pathology, enhancing patient care with precision diagnostics.

In 2021, Koninklijke Philips launched the next-generation digital pathology solution, which features a comprehensive and scalable suite of software tools and capabilities in digital pathology.

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