Worldwide Digital Pathology Industry to 2026 - Applications of Digital Pathology in Clinical Research is Driving Growth
DUBLIN, July 19, 2021 /PRNewswire/ -- The "Digital Pathology Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Digital Pathology Market Report.
The global digital pathology market by revenue is expected to grow at a CAGR of over 10% during the period 2020-2026.
With the emergence of whole slide imaging, the area of digital pathology has boomed tremendously. It is one of the popular, low-cost, and fast avenues of diagnosis and prognosis of cancer and other chronic diseases. The shift toward digitalization of healthcare and the catalyst effect of the COVID-19 pandemic is expected to increase the adoption of digital pathology in primary diagnosis. The incorporation of artificial intelligence further extends the limits of pathology studies and data management, helping to increase the acceptance of digital pathology. In addition, the introduction of artificial intelligence provides computational aid to pathologists and improves the connectivity of the data with laboratory information systems and hospital information systems. AI solutions can automate pathological processes such as documentation, which can decrease turnaround time, thus improving customer satisfaction.
The following factors are likely to contribute to the growth of the digital pathology market during the forecast period:
- Increasing Use of Digital Pathology in Medical Development and Companion Diagnostics
- Integration of Artificial Intelligence with Healthcare Sector
- Implementation of Blockchain in HER Management
- Digitalization of Healthcare Sector
The study considers the global digital pathology market's present scenario and its market dynamics for the period 2020-2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Market Segmentation
The digital pathology market research report includes a detailed segmentation by application, component type, end-user, geography. The global digital pathology academic research and teaching market is expected to reach USD 598.58 million by 2026. The demand for digital pathology solutions is likely to witness exponential growth as they help to educate and train professionals in pathology and histopathology services from remote locations. Hence, digital pathology solutions are widely adopted over conventional solutions for academic research, disease diagnosis, and drug discovery and development. Regulatory approvals are a critical step in deciding the application of WSI scanners and software. In Europe, WSI scanners are cleared to be used for in-vitro diagnosis under the European Union. WSI viewers, digital pathology software, automated image analysis, etc. are eligible for CE-marking. Hence, these developments are likely to increase digital solutions for academic institutes and research purposes.
The inclusion of artificial intelligence in digital pathology solutions and machine & deep learning have improved disease analysis, thereby influencing the growth of in academic and research institutes. Diagnostic and pathology laboratories are likely to account for over USD 358.58 million by 2026. The growth can be attributed to te increasing acceptance in Europe, APAC, and Middle East and African countries. As the systems have been cleared for in-vitro diagnostic medical devices application in Europe, this has fuelled increased investments in the market share. The global digital pathology market by contract research organizations (CRO) expects to grow at a CAGR of approx. 10.58% during the forecast period. CROs have shown interest in digital pathology solutions to improve workflow efficacy by using AI and automation solutions. AI can help to provide predictive analysis and automate pathological processes help to minimize human errors.
As technology advances, the accuracy and scope of digital slide scanners are expanding to cover several fields of pathology. The increasing demand for digital pathology solutions and innovations in scanning technology boost the growth of the hardware segment, which is likely to continue during the forecast period. The global digital pathology market by software expects to reach over $327 million by 2026. Software solutions observe an increased use of AI, deep learning systems (DLS), and machine learning for automated image analysis. The entry of several startups in developing digital pathology software solutions is likely to increase the segment's growth.
Insights by Vendors
The global digital pathology market is currently highly competitive and is likely to become competitive during the forecast period with the increasing acceptance of digital pathology services. Philips, Leica Biosystems, Roche, Hamamatsu, and 3DHISTECH are a few prominent companies that dominate the market. Both Philips and Leica Biosystems have USFDA-approved WSI scanners, which have resulted in high acceptance and increased demand for WSI scanners. It is followed by Hamamatsu Photonics, which has many strategic collaborations that have provided a significant market share.
Prominent Vendors
- Koninklijke Philips
- F. Hoffmann-La Roche
- Leica Biosystems Nussloch
- Hamamatsu Photonics
- Sectra AB
- 3DHISTECH
- Hologic
Other Prominent Vendors
- Aiforia
- Akoya Biosciences
- Deep Lens
- Deciphex
- Huron Technologies International
- Ibex Medical Analytics
- Instapath
- Inspirata
- Microsoft
- NVIDIA
- OptraSCAN
- Paige AI
- PathologyWatch
- Proscia
- Sonrai Analytics
- Visiopharm
- Visikol
Key Questions Answered
1. How big is the digital pathology market? 2. Which segment accounted for the largest digital pathology market share in 2020? 3. Which geographical region dominates the digital pathology market? 4. Which region holds the maximum digital pathology market share? 5. Who are the top industry players in the global market?
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process 4 Scope & Coverage
4.1 Market Definition 4.2 Base Year 4.3 Scope of the Study 4.4 Market Segmentation
5 Report Assumptions & Caveats 5.1 Key Caveats 5.2 Currency Conversion 5.3 Market Derivation
6 Market at a Glance
7 Introduction 7.1 Overview 7.2 Impact of COVID-19 on the Digital Pathology Market
8 Market Opportunities & Trends 8.1 Increasing Use of Digital Pathology in Medical Development & Companion Diagnostics 8.2 Integration of AI into Healthcare 8.3 Implementation of Blockchain in the Management of EHR
9 Market Growth Enablers 9.1 Digitalization of Healthcare 9.2 Growing Use of Cloud Storage Services 9.3 Applications of Digital Pathology in Clinical Research 9.4 Increasing Adoption of Digital Pathology to Increase Lab Efficiency
10 Market Restraints 10.1 Difficulties in Implementing Digital Pathology in Low-Resource Countries 10.2 Lack of Standardization for Digital Imaging & Digital Archiving
11 Market Landscape 11.1 Market Overview 11.2 Market Size & Forecast 11.3 Five Forces Analysis
12 Application 12.1 Market Snapshot & Growth Engine 12.2 Market Overview 12.3 Academic Research & Teaching 12.4 Disease Diagnosis & Consulting 12.5 Drug Discovery & Development
13 Component Type 13.1 Market Snapshot & Growth Engine 13.2 Market Overview 13.3 Hardware 13.4 Software 13.5 Storage
14 End-User 14.1 Market Snapshot & Growth Engine 14.2 Market Overview 14.3 Academic & Research Institutes 14.4 Diagnostic & Pathology Labs 14.5 Contract Research Organizations 14.6 Pharmaceutical & Biotechnology Companies
15 Geography 15.1 Market Snapshot & Growth Engine 15.2 Geographic Overview
16 North America 16.1 Market Overview 16.2 Market Size & Forecast 16.3 Key Countries
17 Europe 17.1 Market Overview 17.2 Market Size & Forecast 17.3 Key Countries
18 APAC 18.1 Market Overview 18.2 Market Size & Forecast 18.3 Key Countries
19 Latin America 19.1 Market Overview 19.2 Market Size & Forecast 19.3 Key Countries
20 Middle East & Africa 20.1 Market Overview 20.2 Market Size & Forecast 20.3 Key Countries
21 Competitive Landscape 21.1 Competition Overview 21.2 Market Share Analysis
22 Key Vendor Profiles 22.1 Philips 22.2 Roche 22.3 Leica Biosystems Nussloch 22.4 Hamamatsu Photonics 22.5 Sectra AB 22.6 3DHISTECH 22.7 Hologic
23 Other Prominent Vendors 23.1 Aiforia 23.2 Akoya Biosciences 23.3 Deep Lens 23.4 Deciphex 23.5 Huron 23.6 Ibex Medical Analytics 23.7 Instapath 23.8 Inspirata 23.9 Microsoft 23.10 NVIDIA 23.11 Optrascan 23.12 Paige AI 23.13 Pathologywatch 23.14 Proscia 23.15 Sonrai Analytics 23.16 VISIOPHARM 23.17 Visikol
24 Report Summary 24.1 Key Takeaways 24.2 Strategic Recommendations 25 Quantitative Summary 25.1 Market by Application 25.2 Market by Component Type 25.3 Market by End-User 25.4 Market by Geography
26 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/8fhxiy
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