Digital pathology market size is to grow by USD 716.93 million from 2022 to 2027| Growing adoption of IoT infrastructure among laboratories to drive market growth - Technavio

NEW YORK, Dec. 12, 2023 /PRNewswire/ -- The digital pathology market size is expected to grow by USD 716.93 million from 2022-2027, progressing at a CAGR of 13.2% as per the latest Technavio market research report. The digital pathology market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Some major vendors are 3DHISTECH Ltd., Apollo Enterprise Imaging Corp., Co Diagnostics Inc., Corista, Danaher Corp., F. Hoffmann La Roche Ltd., General Electric Co., Hamamatsu Photonics KK, Huron Digital Pathology, Indica Labs Inc., Inspirata Inc., Kanteron Systems SLU, Koninklijke Philips NV, Mikroscan Technologies Inc., Objective Pathology Services, Olympus Corp., Proscia Inc., Sectra AB, Visiopharm AS, and XIFIN Inc., and among others. For more insights on the market share of various regions- Download sample report in MINUTES

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Driver - Growing adoption of IoT infrastructure among laboratories to drive growth. A paradigm shift toward the development of advanced infrastructure to offer efficient healthcare services has increased the use of advanced equipment and software. Moreover, the increasing interest of governments of emerging economies in promoting mobile health (mHealth) services as a complementary strategy to achieve the health-related Millennium Development Goal has boosted the demand for teleconsultation services. Thus, the growing development of IoT infrastructure facilitates easy integration of digital pathology systems in laboratories and helps offer efficient healthcare services. This will substantially boost the growth of the market.

Digital Pathology Market: Trend

Integration of AI into digital pathology systems is the key trend impacting the global digital pathology market growth. The advent of IoT in pathology laboratory services as a part of digitalization in healthcare has enabled the use of smarter and interoperable laboratory technologies through connected systems. Digital pathology data is largely contributing to the development of big healthcare data. In addition, the reduced cost of cloud-based storage services has eased concerns regarding the storage of data collected through connected systems. The cost of storing laboratory data is expected to reduce by about 98.98% during 2015-2030. This is expected to reduce the additional cost involved in the storage of digital pathology data to some extent, making it more accessible to end-users. Such factors will increase the market growth during the forecast period.

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This market research report segments the digital pathology market by product (digital slide scanner and software), application (hospitals and laboratories, independent and small clinics, and research centers), and geography (North America, Europe, Asia, and Rest of World (ROW)).

The market share growth by the digital slide scanner segment will be significant for overall market growth during the forecast period. Growing technological advancement in the magnification and scanning of slides is expected to propel further growth of the segment. Moreover, the rising internet bandwidth connectivity and technological developments by vendors in the market are propelling the market growth. Such developments are expected to propel the growth of the segment, which, in turn, is expected to propel the growth of the market in focus during the forecast period.

North America is estimated to account for 39% of the market's overall growth. Growing US FDA approval of whole slide imaging systems used in digital pathology workflows and increasing adoption of advanced pathology practices drive the growth of the market in North America.  Furthermore, the vendors are witnessing favorable market conditions due to the increasing approval of digital pathology systems in the region. Such factors have surged the growth opportunities in the US market and have substantially promoted market vendors to develop advanced digital pathology products. This has promoted the swift growth of the digital pathology market in the region. 

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TOC

1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation by Product
7. market Segmentation by Application
8. Customer Landscape
9. Geographic Landscape
10. Drivers, Challenges, and Trends
11. Company Landscape
12. Company Analysis
13. Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 7,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Website: www.technavio.com

SOURCE Technavio

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