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Digital Pathology Global Market Report 2024 To 2033 | Danaher Corporation, Hoffmann-La Roche Ltd, Koninklijke Philips N.V, Hamamatsu Photonics K.K, 3DHISTECH Ltd
Digital Pathology Market Share
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According to The Business Research Company's, The digital pathology market size has grown rapidly in recent years. It will grow from $1.07 billion in 2023 to $1.26 billion in 2024 at a compound annual growth rate (CAGR) of 17.6%. The growth in the historic period can be attributed to rapid growth in the elderly population, increase in medical errors, increase in cancer prevalence, increase in chronic diseases, growth in the number of healthcare facilities, increased healthcare expenditure, public health insurance reforms and the covid-19 pandemic.
The digital pathology market size is expected to see rapid growth in the next few years. It will grow to $2.41 billion in 2028 at a compound annual growth rate (CAGR) of 17.8%. The growth in the forecast period can be attributed to government support, increasing adoption of digital devices, increasing prevalence of cancer and chronic diseases, aging population and emergence of infectious diseases. Major trends in the forecast period include leveraging artificial intelligence to improve automation, focusing on cloud technology to standardize and simplify digital pathology deployments, adopting the digital imaging and video streaming technology, focusing on developing new technological solutions, focusing on partnerships to expand product portfolio and investing in research and development (r&d) activities.
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Market Drivers and Trends:
The increased prevalence of cancer contributed to the growth of the digital pathology market. Digital pathology allows patients to accelerate the diagnosis and treatment of cancer, and thus an increase in cancer cases is driving the growth of the market. according to the 2021 American Cancer Society report, 1.8 million new cases of cancer diagnosed were diagnosed in 2020. There is a rise in the number of cancer cases due to the growing elderly population globally coupled with unhealthy lifestyles. Increasing incidences of cancer increases the demand for digital pathology as it makes it easier to access the image faster, view all relevant information, and help diagnose faster.
The lack of trained pathologists acted as a restraint for the digital pathology market in the historic period. Pathologists are critical in performing laboratory tests essential for disease diagnosis as pathologists need to examine samples and interpret medical laboratory tests for patients to receive proper treatment. There is a dearth of pathologists in the Asia-Pacific region and countries in Africa. For instance, In February 2022, according to a forensic magazine report, 217 bodies were waiting to be examined by the state's forensic pathologists, and the figure might rise to 300 in less than two weeks. Moreover, more than 200 bodies were waiting for autopsies.
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Major Key Players of the Market:
Cynosure Inc., Lumenis, Candela Medical, Solta Medical International Inc., Cutera Inc., El.En. SpA, Alma Lasers Ltd., Sciton Inc., Aerolase Corporation, Lynton Lasers Ltd., Evolve Med Spa, Cosderma, Beijing ADSS Development Co. Ltd, Array Medical, China Daheng Group Inc., Guangzhou Graceful Beauty Equipment Co. Ltd, Sincoheren IPL Laser Aesthetic Inc., Aman Tokyo Spa, Trumps Spa, Chuan Spa, Shanghai Fosun Pharmaceutical (group) co. ltd., LASERAID UK, Laser And Asthetics, Polaris Medical, All4lasers, Exerter Medical, Lanserhof, Ritz Carlton, Clarins, Fonteverde, Lefay Resort & Spa Lago Di Garda, Chelsea Day Spa, Nirvana Spa, Four Seasons Spa, The Bulgari Spa, Thermae Bath Spa, Terme Di Saturnia, L'Oreal, The Massage Company, ADSS lasers, Medicalliance, Jeisys, ASP medica, Alto Senso, Amoveo Spa, Vremya SPA, Karuna Spa, Expat Salon, Carolline Thai Spa, Oasis Beauty Day Spa, Isla Masaż & Spa, Aerolase, Strata Skin Sciences, Viora, Bausch Health, MicroAire Surgical, Fotona LLC, Galderma Laboratories LP, Syneron Medical Inc., Arak Medical Equipment Company, De Nova Laser Cosmetic Center, Premium Cosmetic Laser Center, Cosmolaser Medical Centre, Dubai Derma, Derma zone Laser & Cosmetic Center, Royalty Laser Cosmetic Center, Majestic Dermatology, Grandville Medical Group, Nigermed Skin Care, Sternlaser, Technolase Medical Laser Technologies, BSE Aesthetics, Ghana Medical Beauty Equipment, Sudan Diode Laser Machine, BASF, Elana Jade Beauty Spa
Digital Pathology Market 2024 Key Insights:
• The digital pathology market size is expected to see rapid growth in the next few years. It will grow to $2.41 billion in 2028 at a compound annual growth rate (CAGR) of 17.8%.
• Digital Pathology Market Surges As Prevalence Of Cancer Drives Demand For Advanced Diagnostics
• Impeding Digital Pathology Market Growth In Regions Struggling With Healthcare Resources
• North America was the largest region in the digital pathology market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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