Digital Pathology Market Worth US$ 1,892.40 Million by 2028 at a CAGR of 12.1% - COVID-19 Impact and Global Analysis by The Insight Partners

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Aug 12, 2021, 07:30 ET

NEW YORK, Aug. 12, 2021 /PRNewswire/ -- According to new research study on "Digital Pathology Market to 2028 – Global Analysis and Forecast – by Product, Application, and End User" the digital pathology market was valued at US$ 852.08 million in 2021 and is projected to reach US$ 1,892.40 million by 2028; it is expected to grow at a CAGR of 12.1% during 2021–2028. The growth of the market is attributed to technological advancements in digital pathology systems, growing preference for telepathology in remote areas, and digital pathology for cancer.

Technological Advancements in Digital Pathology Systems Contributes to Growth of Digital Pathology Market

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In 2020, North America dominated the global digital pathology market. The market growth in the region is attributed to increasing focus of digital pathology market players in the US and Canada, increasing number of conferences and meetings, rising prevalence of Cancer in Mexico. For instance, FDA have cleared a digital pathology and whole slide imaging (WSI) system for use in primary diagnosis. In April 2017, first whole slide imaging system for digital pathology was allowed for primary diagnostic use in the United States. This has helped the pathologists in digitizing the workflow, and gather, store & transfer patent's data from remote places. A second system was authorized for marketing in the US in 2019. As a result, 100% of labs in the US are likely to go digital in the near future. Many industry players are focusing in digitization of the pathology labs. Approval of WSI systems by US FDA has enabled the research institutes in US, to increase its efficiency and workflow. Similarly, with increasing benefits of digital pathology, many companies in Canada are focusing on digital pathology market and taking initiatives in this field. For instance,

in January 2018, GE announced an agreement to establish its first Global Pathology Imaging Centre of Excellence in Toronto, Ontario, Canada. GE along with Omynx (GE's digital pathology joint venture), invested US$ 7.75 Mn. This collaboration is likely to invest more US$ 7.2 Mn in next 3 years for R&D to create best practices and develop digital technologies to address critical issues. Further, Health Technology Commercialization Program created by HTX (Health Technology Exchange), Canada granted fund of US$2.2 Mn.

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Technological Advancements in Digital Pathology Systems Across the Globe Fuels Digital Pathology Market Growth

Advancements in the healthcare sector are encouraging research and development pertaining to imaging devices and software required for digital pathology devices. The advanced systems help labs and hospitals to add value to the testing services. The healthcare information technology (IT) helps physicians in maintaining optimal workflow, along with allowing them to meet the continuously changing patient expectations. The Aperio ePathAccess software offered by Leica Biosystems enables the sharing of digital pathology images and case data with experts outside the IT network. Computerization, robotic light microscopy, multiple fiber-optic communications, and digital imaging are among the modern technologies contributing to the digital pathology market growth. Rapid advancements in whole-slide imaging (WSI) technology as well as software applications, LIS/LIMS interface, and high-speed networking. As a result of these technical improvements, pathologists are now able to fully integrate digital pathology into their workflows.

The growing use of microarrays as well as a wide range of predictive models, such as API algorithms, and hybrid models bolster the demand for digital image analysis. A computer-aided diagnosis integrates image processing, physics, mathematics, and computational algorithms to aid in illness identification, anatomical evaluation, and disease progression quantification and risk assessment, thus adding to its popularity. Thus, the increasing popularity of computer-aided systems is contributing to the digital pathology market growth.

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Digital Pathology Market: Segmental Overview

In terms of product, the scanners segment is anticipated to register a higher CAGR in the digital pathology market during the forecast period. Scanners helps in producing quick, reliable and high-resolution images of cells. It helps pathologists, histologists and other medical professionals to scan slides and upload the images on the network for remote access and to collaborate it among the peers. The scanners provide automated cellular imaging for both fixing cell assays and for fluorescence, phase contrast and transmit light. The technological advancement has added integrated software along with the scanners for further analysis, edit, manage and share the virtual slides. The scanners segment accounted for more than 55.37% share in the digital pathology market in 2021. In terms of application, the market for the drug discovery segment is expected to grow at the fastest CAGR during the forecast period. In terms of end user, the digital pathology market for the recombinant vaccines segment is expected to grow at the fastest CAGR during the forecast period.

Digital Pathology Market: Competition Landscape and Key Developments

Koninklijke Philips N.V., Nikon Corporation, Perkin Elmer, Inc., Indica Labs, 3DHISTECH Ltd., Danaher, Hamamatsu Photonics K.K., F. HOFFMANN-LA ROCHE LTD., Visiopharm A/S, and Glencoe Software, Inc. are among the key companies operating in the digital pathology market. Leading players are focusing on the new product launch, expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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In May 2020, Danahar (Leica Biosystems) launched the Aperio GT 450 DX, its next generation digital pathology scanner, in the APAC region. With continuous loading, no-touch operation, and 32 second scan time at 40x magnification, the Aperio GT 450 DX, registered as CE IVD and TGA, allows healthcare organizations to scale up digital pathology so they can meet ever-increasing demands without sacrificing quality.

In June 2020, Indica Labs, and Octo, a premiere information technology systems provider to the U.S. Federal Government, are announced the online COVID Digital Pathology Repository (COVID-DPR), a virtual collection of high resolution microscopic COVID-related human tissue images hosted at the National Institutes of Health. COVID-DPR is underpinned by Indica Labs' HALO Link software.

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