Digital Pathology Market worth $2.0 billion by 2029 driven by Technological Advancements | MarketsandMarkets™
CHICAGO, July 17, 2024 /PRNewswire/ — The global digital pathology market is expected to grow from USD 1.1 billion in 2024 to USD 2.0 billion by 2029, at a CAGR of 13.1%. The digital pathology market is primarily driven by the increasing adoption of digital pathology solutions by healthcare providers and laboratories, alongside the global expansion of telepathology services, which improves access to expert pathology services in remote or underserved areas. This growth is supported by advancements in technology, including whole-slide imaging (WSI), image analysis software, and artificial intelligence (AI), which enhance diagnostic precision and operational efficiency. However, integrating digital pathology systems into existing laboratory workflows remains a challenge. The rise of AI and machine learning applications presents significant opportunities, aiding pathologists in identifying abnormalities and improving treatment strategies. The market ecosystem includes entities delivering digital pathology solutions to end users, with software being the fastest-growing segment due to advancements in AI and machine learning. Human pathology registers the highest growth rate driven by the rising prevalence of chronic diseases like cancer. The drug discovery segment accounted for the largest share in 2023, benefiting from digital pathology’s ability to analyze vast datasets accurately. Pharmaceutical and biotechnology companies are the largest end users, utilizing digital pathology for extensive research and development. North America dominates the market due to its advanced healthcare infrastructure and significant investment in healthcare technologies. Key market players include Fujifilm Holdings Corporation, Danaher Corporation, Koninklijke Philips N.V., PathAI, and F. Hoffmann-La Roche Ltd.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=844
Browse in-depth TOC on “Digital Pathology Market“
248 – Tables
47 – Figures
325 – Pages
DANAHER CORPORATION (US): Leader in Digital Pathology Solutions
Danaher Corporation, through its subsidiary Leica Biosystems, has established itself as a strong player in the digital pathology market, offering a comprehensive portfolio from biopsy to diagnosis across radiology, pathology, surgery, and oncology. Strategic partnerships have significantly bolstered its market position. In March 2023, Danaher partnered with Paige, a global leader in digital pathology solutions and clinical AI applications, to enhance digital pathology workflows in hospitals and laboratories. The company also collaborates with the European Society for Digital and Integrative Pathology (ESDIP) to promote digital pathology adoption across Europe, fostering continuous growth and innovation in diagnostic technologies.
KONINKLIJKE PHILIPS N.V. (Netherlands): Prominent Player in Digital Pathology
Philips is a prominent player in the digital pathology market, offering solutions that enhance efficiency, collaboration, and diagnostic accuracy for pathologists globally. Philips’ digital pathology solution transitions pathologists from traditional microscopy to digital workflows, achieving efficiency gains of 15-20% per case. By digitizing pathology processes, Philips facilitates remote and collaborative environments, addressing the global shortage of trained pathologists and enabling multidisciplinary collaboration. Their solution supports remote consultation, real-time case sharing, and multidisciplinary discussions among clinical teams, enhancing comprehensive patient care. With insights from over 300 customers and 20 hospital pathology laboratories, Philips continually refines its solution to meet diverse healthcare provider needs.
HAMAMATSU PHOTONICS K.K. (Japan): Key Player in Digital Pathology
Hamamatsu Photonics has solidified its position in the digital pathology market, achieving an annual growth rate of 4.4% in medical-bio instruments from 2021 to 2023. The company’s strategic developments in expanding its digital pathology product portfolio and significant R&D investments are set to propel its growth. In March 2023, Hamamatsu signed a major distribution deal with Siemens Healthineers to provide imaging slide scanners for digital pathology in the Americas and Europe. This partnership aims to bridge the gap between radiology and pathology, enhancing patient care through advanced diagnostic imaging solutions. Hamamatsu’s commitment to innovation underscores its role as a key player in shaping the future of digital pathology.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=844
Product Segmentation: Digital Pathology Scanners Lead
The digital pathology market is divided into scanners, software, and storage systems. In 2023, the scanner segment captured the largest market share, driven by increasing demand for accurate and timely diagnoses alongside a growing volume of pathology cases worldwide. Government approvals for digital pathology scanner systems, such as Roche’s VENTANA DP 200 slide scanner, further boost this segment’s growth. Technological advancements, regulatory support, and enhanced diagnostic capabilities are key factors driving heavy investment and adoption of digital scanners.
Type Segmentation: Human Pathology Prevails
The market is categorized into human pathology and veterinary pathology. In 2023, the human pathology segment dominated, fueled by the rising prevalence of chronic diseases, cancer, and infectious diseases globally. This segment’s prominence is attributed to its diverse diagnostic needs, the increasing burden of diseases, the integration of AI for improved diagnostic capabilities, and supportive regulatory frameworks that promote the adoption of advanced digital pathology solutions.
Regional Insights: Europe Expected to Grow Rapidly
The digital pathology market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Europe is anticipated to register the fastest growth rate during the forecast period, driven by the adoption of AI-based pathology tools across various NHS trusts in the UK. Initiatives like collaborations with international firms, including Sectra, and substantial government investments, such as the USD 57 million allocated in 2020 for digital pathology and imaging AI, underscore Europe’s commitment to enhancing healthcare infrastructure. These efforts are expected to facilitate faster, more accurate diagnoses through automated image analysis and telepathology capabilities.
For more information, inquire now! Inquire Now
Related Reports:
Get access to the latest updates on Digital pathology Companies and Digital Pathology Market Share
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
Logo: https://healthtechnologynet.com/wp-content/uploads/2024/07/MarketsandMarkets-5.jpg
View original content:https://www.prnewswire.com/news-releases/digital-pathology-market-worth-2-0-billion-by-2029-driven-by-technological-advancements–marketsandmarkets-302199113.html
SOURCE MarketsandMarkets
