Press release
Digital Pathology Market Poised for 18.7 % Growth, Set to Hit $2.84 Billion by 2029
Digital Pathology Market
The rise in cancer cases is propelling the expansion of the digital pathology market. As the worldwide population ages, the chances of developing cancer increase due to cellular transformation and extended exposure to associated risks. Factors such as cigarette smoking, an unhealthy diet, insufficient physical exercise, and excessive consumption of alcohol greatly elevate the chances of getting cancer. Digital pathology expedites cancer diagnosis and treatment, thereby enhancing the market's growth due to rising cancer incidents. For instance, as per the American Cancer Society, a US-based nonprofit cancer advocacy group, there was a surge in cancer cases to 2,001,140 in January 2024, an increase from 1,958,310 in 2023, indicating a 2.19% growth. Hence, the escalating occurrence of cancer will drive the future growth of the digital pathology market.
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What growth opportunities are expected to drive the digital pathology market's CAGR through 2034?
The rapid expansion of the digital pathology market in recent years has been notable. The market, which stood at $1.22 billion in 2024, is forecasted to rise to $1.43 billion in 2025, reflecting a compound annual growth rate (CAGR) of 16.8%. The historic growth of this sector can be linked to several factors, including an aging population, a rise in medical mishaps, increased instances of cancer, a surge in chronic illnesses, expanded healthcare facilities, higher healthcare spending, changes in public health insurance, and the impact of the COVID-19 pandemic.
The market size of digital pathology is anticipated to experience swift expansion in the upcoming years, elevating to $2.84 billion in 2029, with a compound annual growth rate (CAGR) of 18.7%. This projected growth within the span can be attributed to factors such as government backing, heightened usage of digital devices, a surge in cancer and chronic illnesses, an aging demographic, and the advent of infectious ailments. Prevailing trends for the span include the utilization of artificial intelligence for enhanced automation, the emphasis on cloud technology for standardization and simplification of digital pathology implementations, adoption of digital imaging and video streaming tech, honing focus on the creation of new technological solutions, forging partnerships for product portfolio expansion, and investment in research and development (R&D) initiatives.
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What are the emerging trends shaping the future of the digital pathology market?
The increasing recognition of Artificial Intelligence (AI) as a significant development in the digital pathology market is quite apparent. Healthcare companies are utilizing AI to enhance the automation of various operational procedures. In addition, AI algorithms are employed to assist with image classification, helping to identify features of human diseases like cancer cells, and even agricultural diseases such as leaf discoloration and rot. For example, Inform Diagnostics, a pathology laboratory in the US, unveiled the Paige FullFocus digital pathology viewer in its labs in January 2022. This new technology adoption allows pathologists at Inform Diagnostics to employ AI tools, simplify logistics, and attain quicker turnaround times for results.
Which growth-oriented segments of the digital pathology market are leading the industry's development?
The digital pathology market covered in this report is segmented -
1) By Product: Scanners, Software, Storage And Communication Systems
2) By Type: Human Pathology, Veterinary Pathology
3) By Application: Drug Discovery, Disease Diagnosis, Teleconsultation, Training And Education
4) By End-User: Pharmaceutical And Biotechnology Companies, Hospitals And Reference Laboratories, Academic And Research Institutes
Subsegments:
1) By Scanners: Whole Slide Scanners, Tissue Microarray Scanners, Digital Imaging Systems
2) By Software: Image Analysis Software, Workflow Management Software, Diagnostic Software
3) By Storage And Communication Systems: Data Storage Solutions, Cloud-Based Platforms, Network And Communication Systems
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What regions are leading the charge in the digital pathology market?
North America was the largest region in the digital pathology market in 2024. Asia-Pacific was the second-largest region in the digital pathology market. The regions covered in the digital pathology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the digital pathology market?
Major companies operating in the digital pathology market include Danaher Corporation, Hoffmann-La Roche Ltd, Koninklijke Philips N.V, Hamamatsu Photonics K.K, 3DHISTECH Ltd, Olympus Corporation, Nikon Corporation, Visiopharm A/S, Indica Labs Inc, Sectra AB, Grundium, Leica Biosystems, Apollo Enterprise Imaging Corp, Inspirata Inc, PathAI, Aiforia Technologies, Proscia, Ibex Medical Analytics, Better Doc, Ventana Medical Systems, Huron Digital Pathology, Synevo, Paige.ai, Morphle, Akoya, Aperio Digital Pathology, Smart in Media, MaRS, Perkin Elmer, Definiens AG, Digipath, CAE, Medical-X, C3? Holter Monitor, BIOEGYPT, Pulse
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What Is Covered In The Digital Pathology Global Market Report?
• Market Size Forecast: Examine the digital pathology market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the digital pathology market for a structured understanding.
• Key Players Overview: Analyze major players in the digital pathology market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the digital pathology market.
• Segment Contributions: Evaluate how different segments drive overall growth in the digital pathology market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the digital pathology market.
• Industry Challenges: Identify potential risks and obstacles affecting the digital pathology market.
• Competitive Landscape: Review strategic developments in the digital pathology market, including expansions, agreements, and new product launches.
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