October 3rd, 2022 Polaris Market Research Releases
Polaris Market Research recently published a research report on “Digital Pathology Market Share, Size, Trends, Industry Analysis Report, By Application (Drug Discovery & Development, Academic Research, Disease Diagnosis); By End-Use (Hospitals, Biotech & Pharma Companies, Diagnostic Labs, Academic & Research Institutes); By Product; By Region; Segment Forecast, 2021 – 2028” in its research database.” in its research database.
According to the research report, the global digital pathology market size & share was valued at USD 877.5 million in 2020 and is expected to reach USD 1.44 Billion By 2028, growing at a CAGR of 6.7% during the forecast period.
What is Digital Pathology? How Big is Digital Pathology Market Size?
Digital pathology is the sub-sector of pathology that contains the acquisition, management, sharing, and interpretation of pathology information generated from slides and data in a digital environment. Virtual microscopy is utilized through the use of computer-based technology. Then, digital slides are generated by capturing glass slides to provide a high-quality image that can be viewed, managed, shared, and analyzed on a computer screen.
The digital pathology sector is growing and finding applications in diagnostic medicine in order to achieve efficient and cheaper diagnoses and prognoses. Other healthcare applications of this technology include clinical research, diagnostic decision support, intraoperative diagnosis, review of immunohistochemistry (IHC), and tumor boards. The key factors driving the growth of the digital pathology market include a rising emphasis on enhancing workflow efficiency for producing better diagnoses and an increasing prevalence of chronic diseases.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
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The growing adoption of digital pathology to increase lab efficiency and increasing use of digital pathology in drug development and companion diagnostics are some of the major factors boosting the digital pathology market share. A surge in cancer cases and other chronic conditions is expected to raise the requirement for digital pathology use. This factor is also anticipated to push the market demand. Also, continuous technological developments in the digital pathology field is another prominent factor propelling the adoption of this market.
Moreover, rapid advancements in computerization, digital imaging, analysis, and microscopy techniques, as well as growth in in-silico simulation tools and fiber optic communications, are expected to accelerate the global market growth. Also, the COVID-19 outbreak that forced government bodies to impose nationwide lockdowns and social distancing has created a lucrative opportunity in the digital pathology market. An increasing number of organizations adopting healthcare IT solutions is further anticipated to flourish in the digital pathology industry development.
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Digital Pathology Market: Report Scope
Based on product, the market is segmented into software, device, and storage systems. The device segment held the largest digital pathology market share in 2020. Scanner and slide management systems are the two most commonly used products in the device segment. The segment growth can be attributed to the increased resolution coupled with rising research activities in the industry.
On the basis of application, the market is divided into drug discovery & development, academic research, and disease diagnosis. Of all, the educational research segment witnessed the highest share in the digital pathology industry due to its major applications in several research activities, such as tumor morphological research and biomarker profiling. Furthermore, the disease diagnosis market segment is forecasted to generate lucrative growth over the foreseen period, due to the surging prevalence of chronic conditions.
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A surge in R&D activities in North America to flourish the digital pathology market.
Based on geography, North America led the market with the largest revenue share in 2020 due to the favorable government guidelines as well as rising research and development initiatives in diagnostic ability, and the presence of leading market players in the region. Further, factors such as the growing use of digital pathology for disease diagnosis and beneficial reimbursement policies in the U.S. is anticipated to propel the digital pathology market sales.
Moreover, the digital pathology industry in the Asia Pacific region accounted for the largest revenue share during the forecast period. This high share can be attributed to the increasing adoption of digital imaging in low- and middle-income countries coupled with a surge in the presence of major vendors operating in the market. Additionally, the increasing demand for advanced treatment options, increasing laboratory costs, and improved healthcare services are expected to uplift the growth of the digital pathology market.
Browse the Detail Report “Digital Pathology Market Share, Size, Trends, Industry Analysis Report, By Application (Drug Discovery & Development, Academic Research, Disease Diagnosis); By End-Use (Hospitals, Biotech & Pharma Companies, Diagnostic Labs, Academic & Research Institutes); By Product; By Region; Segment Forecast, 2021 – 2028” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/digital-pathology-market
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The market is primarily segmented on the basis of product, application, end-use, and geographic region.
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