The global digital pathology market was valued at USD 1.07 billion in 2022 and is expected to reach USD 2.7 billion by 2032, growing at a compound annual growth rate (CAGR) of 10% during the period 2023-2032 during the forecast period.
Digital Pathology Market Drivers
Digital Pathology, a computer platform for managing image-based data from the digital slide, serves a dual purpose in research. The global digital pathology market is witnessing significant growth due to several key factors. The most significant of these is the increasing prevalence of cancer, which has created an increased demand for precise diagnostic solutions.
In addition, key players in the industry are continuously developing new digital pathology systems, which is further driving the expansion of the market. An aging population and rapid technological advancements in digital pathology systems are other factors contributing to this growth.
Impact of COVID-19
The COVID-19 pandemic has had a significant impact on the digital pathology market. Early in the pandemic, many pathology laboratories experienced workflow disruptions due to staff shortages, social distancing measures, and the prioritization of COVID-19 testing over non-urgent pathology procedures. The global supply chain has also been disrupted, leading to shortages of critical laboratory supplies and equipment, including digital pathology systems.
Digitization in healthcare
The increasing spread of digitalization in healthcare refers to the increasing use and integration of digital technologies, devices and systems in various aspects of the healthcare industry. This transformation is driven by the recognition of the potential benefits of digitization, including improved patient care, increased efficiency and improved access to healthcare services.
Increase in chronic diseases
Chronic diseases such as cancer, diabetes, and cardiovascular disease represent a significant economic burden, costing the United States approximately $4.1 trillion annually. These diseases are a major contributor to disability and death, as reported by the Centers for Disease Control and Prevention (CDC). In July 2022, six in ten adults in the United States will have at least one chronic disease, and four in ten will have two or more chronic diseases.
Government regulations
Strict regulatory compliance in the digital pathology market refers to strict adherence to regulations and standards set by governing bodies and authorities in various industries that use digital pathology. These regulations are introduced to ensure the safety, quality and hygiene of processes and products in sectors such as food and beverage, pharmaceutical, biotechnology, cosmetics and healthcare.
Digital Pathology Market Segmentation
In 2022, the scanners segment dominated the market and this trend is expected to continue due to increased research and development (R&D) activities in the pharmaceutical and medical device industry, increased demand for disease diagnosis, and significant upsurge in the adoption of digital technology. . pathological systems.
Asia-Pacific digital pathology market holds the second largest market share, driven by investments in the healthcare sector, untapped potential in the region, and growing adoption of digital imaging in emerging countries. The increasing incidence of cancer in the Asia Pacific region has significantly affected the healthcare sector.
The European digital pathology market is projected to witness the highest CAGR between 2022 and 2030. This growth is attributed to increasing patient preference for digital tools over traditional pathology methods and strategic advancements, including patenting, by key industry players in the region. unique technologies.
Competitive strategies
Prominent market players are devoting significant resources to research and development efforts aimed at diversifying their product portfolios, further fueling the growth of the digital pathology market. These market players are also undertaking various strategic initiatives to expand their global presence, including new product launches, contractual arrangements, mergers and acquisitions, increased investments, and collaborations with other organizations.
Where to find out more
Be sure to check out the comprehensive new report for more information on the market Global Digital Pathology Market Size, Share and Trends Analysis by Factview Research. This report provides details on the global digital pathology market size, forecast, segmentation, regional dynamics, industry trends and competitive intelligence.
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