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Global Digital Pathology Market Projected to Grow at 18.4% CAGR, Reaching $2.79 Billion by 2029
Digital Pathology
What Will the Digital Pathology Industry Market Size Be by 2025?
In recent years, the digital pathology market has seen rapid expansion. The market, which was valued at $1.22 billion in 2024, is expected to reach $1.42 billion in 2025, indicating a compound annual growth rate (CAGR) of 15.7%. The substantial growth observed in the past is due to several factors including a rapidly aging population, a rise in medical mishaps, an increase in cancer cases, growing incidence of chronic illnesses, the development of more healthcare facilities, an upsurge in healthcare spending, revisions in public health insurance, and the impact of the COVID-19 pandemic.
What's the Long-Term Growth Forecast for the Digital Pathology Market Size Through 2029?
Anticipated swift expansion is foreseen for the digital pathology market size in the forthcoming years, with projections placing it at $2.79 billion by the year 2029, acclimating to a compound annual growth rate (CAGR) of 18.4%. Factors contributing to the growth during the predicted period include support from government bodies, amplified deployment of digital apparatus, rising instances of cancer and chronic illnesses, an aging populace, and the emergence of infectious ailments. The forecast period is likely to witness prominent trends like employing artificial intelligence to bolster automation, directing attention towards cloud technology to normalize and ease digital pathology implementations, adopting digital imaging and video streaming technology, concentrating on the creation of novel technological solutions, partnering to broaden product offerings, and investing in research and development (R&D) endeavours.
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What Are the Key Growth Drivers Fueling the Digital Pathology Market Expansion?
The surge in cancer cases is fueling the expansion of the digital pathology market. Aging populations carry a higher cancer risk due to cellular transformations and extended contact with risk factors. Additionally, behaviors such as poor diet, smoking, minimal physical exercise, and high alcohol intake substantially raise the probability of cancer. Digital pathology expedites the diagnosis and treatment of cancer, meaning that the surge in cancer cases bolsters market growth. For example, the American Cancer Society, a non-profit cancer advocacy organization in the US, noted in January 2024 that cancer cases spiked to 2,001,140 from 1,958,310 in 2023, indicating a 2.19% increase. Hence, the escalating prevalence of cancer is expected to drive the growth of the digital pathology market.
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What Long-Term Trends Will Define the Future of the Digital Pathology Market?
In the digital pathology market, artificial intelligence (AI) is emerging as a significant trend. It has been embraced by healthcare firms to increase automation in various operational tasks. AI algorithms also utilize image categorization to identify characteristics of human illnesses such as cancerous cells, plus agricultural diseases like leaf discoloration and rot. For example, in January 2022, the American pathology lab, Inform Diagnostics, incorporated the Paige FullFocus digital pathology viewer in its labs. This technological advancement enables pathologists at Inform Diagnostics to employ AI instruments, optimize logistics, and expedite result delivery times.
How Is the Digital Pathology Market Segmented?
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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Which Companies Are Leading the Charge in Digital Pathology Market Innovation?
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
Which Regions Are Leading the Global Digital Pathology Market in Revenue?
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.
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