Digital Pathology Market is anticipated to rise at a value CAGR of 12.5% over 2019-2028. According to a study published by Insure Insights on the Digital Pathology Market, Digital pathology is a part of pathology, that emphasizes on data management based on information generated from digitized specimen slide. It uses a computer in providing the data and utilizes virtual microscopy. An increase in the demand for digital pathology in drug development & companion diagnostics is driving the market growth.

Top Driver: Rise in the demand for faster diagnostic tools for chronic diseases is driving the market

Rise in the prevalence of diseases like cancer, globally, and increase in demand to obtain a faster result in diagnosis, increased focus on improving workflow efficiency, and demand for more rapid diagnostic tools for chronic diseases are driving the market. Artificial intelligence has also played a important role in digital pathology. Artificial intelligence has helped health experts to adapt to the tremendous amounts of data that digital pathology pictures make. Technological advances in digital pathology market are further enhancing the market growth.

Scanners to Make Contribution to Growth of Crucial Global Digital Pathology Market

Based on the product segment, Scanners have dominated the market growth as due to the rise in the use of digital pathology worldwide, The Rise in academic research activities and enhanced resolution of scanners are the major factors driving the market. Scanners help in analyzing multiple images easily and also assist in studying complex morphology and features. These scanners produce high-resolution images and also perform repeated data analysis across experiments. An increase in the FDA approval in scanners are further boosting the market growth.

Based on the Application Segment Drug Discovery have obtained the highest growth owing to the rise in the growth in R&D investments, the increased need for numerous preclinical and clinical studies performed during the drug discovery and development process. The increase in the incidences of cancer and other chronic diseases have further boosted the need for drug discovery and have enhanced market growth. In terms of the End User segment, Hospitals, and Reference, Laboratories have obtained the most remarkable growth owing to the increased in the adoption of these techniques in hospitals and also helps in providing better patient compliance.

Technological advances in Digital Pathology to benefits the North American Market  

North American has witnessed tremendous technological advances in the Digital Pathology market, such as the adaption of Artificial Intelligence. Government funding for better healthcare are boosting the market growth of the region. The existence of a majority of key players in the region is further contributing to market growth. An increase in the R&D expenditure for technologically advanced systems is expanding the market growth. The better healthcare infrastructure and increase in the per capita income of the people are expanding the market growth. The rise in medical tourism in the region has further propelled the growth in the region.

Strategic  collaboration and acquisition are the major strategies of the competitors

The competitors of the Global Digital Pathology Market are highly fragmented, and the competitors are focusing on new product launches, strategic collaboration, and acquisition for their overall growth.  The key competitors of the global Digital Pathology Market are Roche, Omynx LLC, Definiens; Olympus Corporation; MicroSkan Technologies; 3DHistech, Inc.; Leica Biosystems; Philips Healthcare; Ventana Medical Systems, Inc.; and Hamamatsu Photonics, Inc.

Philips Healthcare : Philips Healthcare is a giant competitor of the Digital Pathology Market; for instance, in the year 2019, Philips and Paige, had announced a strategic collaboration to offer clinical-grade AI applications to pathology laboratories, the collaboration would  help pathologists to identify, quantify and characterize cancer in tissue samples and make precise diagnoses more efficiently

Olympus Corporation:  Olympus Corporation is popular in the global Digital Pathology Market. In May 2017, Olympus Corporation had announced that it had completed the acquisition of Image Stream Medical develops video equipment and system integration used in operating rooms. The deal was done for USD 87 million; the acquisition was made by Olympus Corporation to expand its product portfolio.

Scope of the Report

By Product

• Scanners
• Storage Systems & Communication Systems
• Software
• By Application

• Drug Discovery
• Disease Diagnosis
• Training & Education
• Teleconsultation

By End-User

• Pharmaceutical & Biotechnology Companies
• Hospitals and Reference Laboratories
• Academic & Research Institutes

By Region

• North America
• Europe
• Asia Pacific
• LAMEA