Executive Summary
The global digital pathology market size is expected to grow from USD 524.0 million in 2020 to USD 1,164.4 million by 2026 at a CAGR of 14.2%.
The growth of this market is largely due to the increasing acceptance of digital pathology to increase laboratory efficiency, increased cancer risk, and the increasing use of digital pathology in drug development & associated diagnostics. However, the lack of trained pathologists is expected to pose a challenge to market growth in the coming years.
The current COVID-19 epidemic has caused a large number of patients to visit health facilities daily. According to WHO data, there have been 39.9 million confirmed cases of COVID-19 and 1.1 million deaths worldwide, as of October 19, 2020. As a result of the COVID-19 outbreak, the number of pathological tests conducted worldwide overall has declined. In addition, the closure of international borders and restrictions has negatively affected the demand for these solutions by 2020. However, FDA approval for the use of digital pathology solutions for primary diagnostic purposes is expected to increase demand during climate change. Therefore, the need for better remote access to patient testing is expected to increase the demand for digital pathology solutions over the next five years.
Digital pathology helps improve laboratory efficiency by reducing costs, reducing conversion times, and giving users access to material technology. The development of laboratory efficiency is important as patients and physicians rely on laboratory results in diagnostic decisions, and diagnostic tests need to be completed and reported quickly and accurately. In addition, access to digital slides through web services eliminates shipping costs and travel time for nurses. The outbreak of the COVID-19 epidemic has led to the use of restricted restrictions and social exclusion. Such limitations have increased the demand for digital pathology solutions, as these can be used by veterinarians to remotely evaluate primary diagnostic results. To get competitive and deliver fast services, a large number of pathologists and pathology labs use digital pathology.
While large hospitals with significant budgets can afford these programs, pathologists and educational institutions with limited budgets or IT funding are often unable to afford them. The high cost of these programs, coupled with a shortage of skilled workers to use digital pathology programs, is expected to reduce the adoption of these programs.
The creation of affordable scanners is expected to provide growth opportunities for players working in the digital pathology market. Most independent therapies are small businesses and cannot afford expensive digital pathology programs. The introduction of affordable scanners will promote their acceptance among low-income or limited nurses.
Epidemiologists play a key role in performing laboratory tests that are important in diagnosing diseases. At present, however, there is a gap between the supply and demand of pathologists worldwide, particularly in the Asia Pacific and African countries. Therefore, the alarming shortage of veterinarians is expected to lead to the increasing use of digital diseases in providing consultation with remote pathological services.
By product, the digital pathology market is divided into scanners, software, communication systems, and storage systems. The scanner segment had the largest share in the digital pathology market in 2020. This is due to the increasing adoption of digital pathology solutions around the world.
By application, the digital pathology market is divided into drug discovery, disease diagnosis, teleconsultation, and training & education. The drug discovery segment had the largest share of the digital pathology market, by app, in 2020. This is due to the increase in the amount spent on R&D, which is due to the need for more pre-surgical studies and treatments made during the drug discovery and development process.
By end-user, the digital pathology market is broadly divided into pharmaceutical & biotechnology companies, hospitals and reference laboratories, and academic & research institutes. The pharmaceutical and biotechnology companies segment had the largest share in the digital pathology market in 2020. This is due to the increasing use of digital pathology of drug discovery studies and toxic drug testing.
North America had the largest share of the digital pathology market in 2020. The region’s major share in the digital pathology market could be due to the increase in cancer, rising demand for quality diagnoses, the introduction of good recovery policies, and the implementation of good programs by the US and Canadian governments. The North American market is also expected to grow at a very high rate during the monsoon season.
The major players in the global digital pathology market are Leica Biosystems (US), Koninklijke Hamamatsu Photonics (Japan), Philips N.V. (Netherlands), Roche (Switzerland), 3DHISTECH (Hungary), Apollo Enterprise Imaging (US), Corista (US), XIFIN (US), Huron Digital Pathology (Canada), Sectra AB (Sweden), Visiopharm A/S (Denmark), Indica Labs (US), Objective Pathology Services (Canada), Glencoe Software (US), KONFOONG BIOTECH INTERNATIONAL CO., LTD (China), Inspirata, Inc. (US), OptraSCAN (India), Mikroscan Technologies (US), Kanteron Systems (Spain), and Proscia Inc. (US).
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