Digital Pathology Market to be Worth $1.73 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, May 10, 2023 /PRNewswire/ -- The global digital pathology market size is expected to reach USD 1.73 billion by 2030, registering a CAGR of 7.7% according to a new report by Grand View Research, Inc. The market is anticipated to witness exponential growth owing to the rising prevalence of chronic diseases aided by increasing demand for accurate diagnostics. Chronic diseases affect around one in every three adults. Whereas, according to the CDC, in the U.S., approximately, 51.8% of adults have at least one chronic disease. Digital pathology, including molecular tissue profiling, biobanking, tissue microarray analysis, and molecular biology, plays an important role in the drug development pipeline and companion diagnostics. The growing demand for high-quality tissue samples in tissue-based biomarker research is expected to drive technology adoption over the forecast period.

Key Industry Insights & Findings from the report:

• In 2022, the device segment held the largest share owing to the increased use of devices in academic research.
• The disease diagnosis segment is anticipated to grow at the fastest growth rate over the forecast period due to an increasing prevalence of chronic diseases and demand for noble diagnosis techniques.
• In 2022, the hospitals segment accounted for the largest revenue share due to the high incorporation of digital pathologies in healthcare settings for efficient disease diagnosis.
• North America dominated the market due to the presence of well-established digital infrastructure and a number of technological advancements pertaining to the incorporation of technology in healthcare settings.

Read 150 page full market research report, "Digital Pathology Market Size, Share & Trends Analysis Report By Application (Academic Research, Disease Diagnosis), By Product (Software, Device), By End-use (Diagnostic Labs, Hospitals), And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Digital Pathology Market Growth & Trends

The increasing adoption of telepathology with the launch of newer versions of the technology, such as in June 2022, Tribun Health launched TeleSlide Patho 5, an online telepathology platform used for providing clinical and timely expertise to patients. Moreover, the market is expected to see intense competition in the near future as companies adopt more stringent strategies to compete. Moreover, technological advancements, such as the digitization of pathology lab makes the specialty more efficient, the specimen more reproducible, and pathologists' work easier. In the past few years, several breakthrough advancements have provided a significant boost to the market.

For instance, in September 2021, Paige received FDA approval for Paige Prostate, an AI solution for the detection of prostate cancer. The product is the first AI-enabled pathology product to gain marketing authorization. This was further followed by the collaboration of F. Hoffmann-La Roche Ltd. with Ibex in October 2021 for the development of artificial intelligence-based pathology applications for the improvement of patient care. Furthermore, major players are adopting strategies, such as collaborations and partnerships with a focus on technological advancements, such as robotic light microscopy, digital imaging, multiple fiberoptic communications, and computerization, to enhance the adoption of digital pathology.

For instance, in December 2022, Deciphex launched Patholytix 3.0, a Digital Research Pathology Platform with an aim to revolutionize tools available for research pathologists and designed to overcome the limits of LIMS software that allows users to effectively manage associated data and samples. Furthermore, with the launch, the company also highlighted features of the new platform that impact workflow and offer simpler and more expedient report creation.

Digital Pathology Market Segmentation

Grand View Research has segmented the global digital pathology market based on product, application, end-use, and region:

Digital Pathology Market - Product Outlook (Revenue, USD Billion, 2016 - 2030)

• Software
• Device
• Scanners
• Slide Management System
• Storage System

Digital Pathology Market - Application Outlook (Revenue, USD Billion, 2016 - 2030)

• Drug Discovery & Development
• Academic Research
• Disease Diagnosis
• Cancer Cell Detection
• Others

Digital Pathology Market - End-use Outlook (Revenue, USD Billion, 2016 - 2030)

• Hospitals
• Diagnostic Labs
• Biotech & Pharma Companies
• Academic & Research Institutes

Digital Pathology Market - Regional Outlook (Revenue, USD Billion, 2016 - 2030)

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Denmark
• Sweden
• Norway
• Asia Pacific
• Japan
• China
• India
• South Korea
• Australia
• Thailand
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Kuwait

List of Key Players of Digital Pathology Market

• Leica Biosystems (Danaher)
• Hamamatsu Photonics, Inc.
• Koninklijke Philips N.V.
• Olympus Corp.
• F. Hoffmann-La Roche Ltd.
• Mikroscan Technologies
• Inspirata, Inc.
• 3DHISTECH Ltd.
• Visiopharm A/S
• Huron Technologies International, Inc.
• ContextVision AB

Check out more related studies published by Grand View Research:

• Healthcare Reimbursement Market - The global healthcare reimbursement market size is expected to reach USD 20.45 trillion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 19.0% during the forecast period. Supportive government initiatives along with rising cost of prescription medicines are likely to work in favor of the market.
• Medical Image Analysis Software Market - The global medical image analysis software market size is expected to reach USD 5.4 billion, expanding at a CAGR of 7.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing incidence of chronic diseases creates demand for effective diagnostics solutions, which spurs the demand for medical image analysis software. The high growth is majorly attributed to a rise in the usage and uptake of image analysis solutions for diagnosis. Furthermore, the rising demand for medical image analysis software is being driven by the increased use of imaging equipment due to the rising prevalence of chronic diseases and developing applications of computer-aided diagnosis.
• Healthcare IT Market - The global healthcare IT market size is expected to reach USD 609.1 billion by 2030 and is expected to expand at a CAGR of 17.9% in the forecast period, according to a new report by Grand View Research, Inc. Growing digitalization of healthcare, increasing digital literacy, the emergence of startups, growing government funding & support, increasing smartphone penetration, growing IT spending, improving network connectivity, and advancing infrastructure is driving the development & growth of the industry.

Browse through Grand View Research's  Healthcare IT Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg