Digital Pathology Market: By Product (Scanner, Software, Communication Systems & others); By Type (Human, Animal); By End-User (Pharma & Biotech Co., Hospital & Reference Laboratories); By Application (Teleconsultation & others) & By Region - Forecast(2019 - 2025)

Report Code : HCR 0404 Format Type: PDF+ Excel Database

Global Digital Pathology Market Outlook

Digital Pathology, which is also known as virtual microscopy, is the practice of converting glass slides into digital slides that can be viewed, managed, and analyzed on a computer monitor. Apart from being technically comprehensive, the process also depicts economical traits by being accurate, efficient, a mode for early detection of chronic diseases, and a digital ecosystem for data management of generated information to and through several nodes. As per the IndustryARC business intelligence report, the global digital pathology marketplace was valued around $400m- $450m in 2018, and it is forecast grow at a CAGR of 7.7% - 8.5 % going through 2025.

The U.S. Food and Drug Administration permitted marketing of the first whole slide imaging system for digital pathology in 2017, fetching this technology a wide range of consideration, authentication, and adoption worldwide. Increasing prevalence of chronic conditions is probable to motivate the digital pathology market. Owing to cumulative clinical urgency, healthcare facilities and diagnostic centers are employing digital pathology in order to develop the prevailing patient diagnostic imaging measures and reduce the expenses tailgating these conventional diagnostic procedures. As per the National Center for Biotechnology Information, the total cost savings in 5 years for large academic-based health care organization upon fully employing a digital pathology system (DPS) was estimated to be approximately $18 million. As aged people are more vulnerable to chronic illnesses, mounting elderly population is anticipated via acute analysis, to stroke the demand for technically progressive diagnostic methods, thus supplementing the digital pathology market.

 Digital Pathology Market

Global Digital Pathology Market- Demand Analysis:

  • As per the WHO, cancer is the second leading cause of death, and was accountable for an estimated 9.6 million deaths in 2018. Universally, about 1 in 6 deaths is due to cancer and approximately 70% of deaths from cancer occur in low- and middle-income countries. DPS is very efficient for precise & early detection and diagnosis of chronic diseases. It detects tumor at rousing stages, omitting prescription of other diagnostics. Owing to such peculiarities DPS has gained an ultimatum as an obligatory employment in the in the estimated US$1.16 trillion (WHO) cancer diagnostics arcade and is depicting all the essential caliber to divert a huge chunk of business into its own revenue pockets.
  • The WHO states that 17.9 million people die every year due to cardiovascular diseases (CVDs), accounting for 31% of the global deaths. Such alarming rate makes it mandatory to deploy unconventional diagnostics and imaging replacements in the healthcare facilities. Whole slide imaging segment integrated with innovative imagining, computerization, and robotic light microscopy stands out as an ideal match for such pathological requirements. CVDs are the leading cause of death globally and around 82% percent of deaths occur in low-income countries. Therefore, in accordance with the digital pathology regional market outlook, such countries are the untapped market to be penetrated by the market players and capitalize upon.
  • In this era of precision medicine, global collaborations between pharmaceuticals researchers and the connoisseurs in artificial intelligence is a must for efficient medicine development. Owing to this, the analyst of this report has identified drug discovery as the leading application segment of the digital pathology market, growing at a CAGR of 4.2%-4.8% through to 2025. New drug discovery is gradually dependent on the accurate and precise analysis of large volumes of tissue samples, and digital pathology’s intellectual workflow solutions offers the approach to considerably decline the total time consumed on research studies, speeding the research for drug discovery. Algorithms generated by DPS can be exploited to accurately regulate the diagnosis, management and life expectancy for each patient.

Global Digital Pathology Market- Regional Analysis:

After an acute analysis of the digital pathology regional markets, North America is positioned as the leading marketplace with a global demand share ranging between 38%-40% as of 2018. These statements can be recognized by the data provided by the National Cancer Institutes, which estimated the number of cases of cancer in the United Sated to be 1,735,350 in 2018 and the forecast depicts the figure to reach 20.3 million by 2026. Estimated national expenditures for cancer care in the United States in 2017 was an astonishing $147.3 billion. Apart from cancer, the increasing instance of CVDs also affect the market. Rapid urbanization, increasing disposable income and increasing awareness initiatives in the North American region is all set to continue stroking the digital pathology market with abundant demand. 

Some of the key players located in this region are GE Healthcare, Objective Pathology Services and Corista. Other global players include Omynx LLC, 3DHistech, Inc, Olympus Corporation, Leica Biosystems, Philips Healthcare, Ventana Medical Systems, Inc. and Hamamatsu Photonics, Inc.

As per the global healthcare spending report by the WHO, the world in 2016 spent US$ 7.5 trillion on health, representing close to 10% of global GDP. Healthcare industry is at constant flux with new technologies entering the arcade and dominating a major share of operations. Digital pathology systems have been portraying similar caliber since its inception as per the analysis of its rate of employment. Many factors are supporting the digital pathology in healthcare market but the most prominent ones are the data accuracy, data management, and its operation efficacy. Apart from these the increasing rate of chronic diseases like cancer and CVDs and necessity in such cases for constant pathology scanning and pathology imaging are encouraging the digital pathology market.

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