Digital Pathology Systems and Software Market Report (2022 to 2030) – Olympus Corporation, F. Hoffmann-La Roche Ltd., Inspirata, Inc., Koninklijke Philips N.V. and Hamamatsu Photonics, Inc.

Newark, New Castle, USA, Feb. 22, 2023 (GLOBE NEWSWIRE) — According to a new market research report titled, “Digital Pathology Systems and Software Market by Product (Devices, Software) Application (Academic Research, Drug Discovery) End User (Diagnostic Labs, Hospitals) – Global Outlook & Forecast 2022-2030″ published by Growth Plus Reports, the digital pathology system and software market is expected to grow at a CAGR of 9.2% from 2021 to reach US$ 2.21 billion by 2030. Owing to the rising adoption of digital pathology to enhance lab efficiency and increasing application in drug discovery & companion diagnostics are the prime factors driving the market during the forecast period.

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Market Drivers

The digital pathology market is driven by increased teleconsultations, increased usage of digital pathology to improve lab efficiency, and its application in drug discovery and companion diagnostics. Integrating digital pathology with digital tools, barcoding, specimen tracking, and digital dictation is also expanding the use of digital pathology in disease diagnosis. This also enhances the accuracy, precision, and efficiency of illness diagnosis in pathology laboratories. According to a WHO report, digital pathology is projected to have significant potential in 2022 to make routine pathology practice more efficient and precise due to ease of use and the possibility of operating remotely. According to a survey issued by Deontics Ltd, artificial intelligence (AI)-based help systems will increase image processing in the diagnostic sectors. These clever AI systems can use a range of algorithms in radiology and pathology to help physicians and specialists make faster and safer decisions. The market is also predicted to be driven by increasing telepathology use, rising healthcare spending in developed nations, market penetration of key manufacturers in emerging regions, and a greater emphasis on drug discovery. For example, GlaxoSmithKline hired PathAI in April 2022 to apply digital pathology Artificial intelligence to cancer and non-alcoholic steatohepatitis (NASH) medication research. Furthermore, the 2022 EU4Health work program has been assigned a budget of about EUR 835 million (USD 706.41 million) to strengthen European health systems, including approximately EUR 77 million (USD 65.14 million) in digital investment.

Excerpts from ‘By Application Segmentation’

Based on application, the global digital pathology systems and software market has been segmented into:

• Academic Research
• Drug Discovery
• Disease Diagnosis

The disease diagnosis segment is expected to show the fastest growth during the forecast period, attributed to the increased prevalence of chronic diseases. Laboratory management systems, digital dictation, dashboards, workflow control, digital image analysis, electronic specimen labeling and monitoring, and synoptic reporting tools are all part of digital pathology. Manufacturers are focusing on the development of unique and quick diagnostic techniques. Digital technology helps to improve every diagnostic phase and makes it simple to transmit information between departments. It aids in the improvement of each diagnostic stage.

Excerpts from ‘By Region Segmentation’

Based on region, the global digital pathology systems and software market has been segmented into:

• North America
• Europe
• Asia Pacific
• Rest of the World

North America dominated the market with the largest share in 2021. The growing burden of chronic diseases, rising acceptance of technology in chronic disease management, rising investments, rising product launches, and initiatives taken by leading market participants are the fundamental driving factors for the growth of the North American digital pathology market. The United States is predicted to grow significantly within North America during the forecast period. The increased prevalence of chronic diseases such as cancer and Alzheimer’s is predicted to drive the digital pathology market. The American Cancer Society estimates that around 236,740 new lung cancer cases will be identified in the United States in 2022. According to the same source, 79,000 new cases of kidney cancer will be reported in 2022. Furthermore, according to a press release issued by the Canadian government in August 2021, diabetes is one of the major chronic diseases affecting Canadians, with over 3 million Canadians, or 8.8% of the population, diagnosed with diabetes and 6.1% of Canadian adults at high risk of developing diabetes as of August 2021. The rising cancer burden will likely increase demand for digital pathology, boosting the market growth.

Due to rising digital imaging penetration in emerging nations, rising healthcare expenditure, medical innovation, and the need for cost-effective digital pathology, Asia-Pacific is predicted to grow at the fastest CAGR over the projection period. Due to the increased number of cancer cases, the Asia-Pacific healthcare business has been severely impacted. A growing desire for novel treatment alternatives, improved patient care facilities, and lower laboratory costs will likely increase demand. Japan has the greatest market share, accounting for more than a quarter of the Asia-Pacific digital pathology business. Furthermore, the country is predicted to maintain its dominant presence during the forecast period. However, the Indian market for digital pathology is expected to grow at the fastest rate.

Excerpts from ‘Competitive Landscape’

Some of the prominent market players in the global digital pathology systems and software market include:

• Leica Biosystems (Danaher)
• Hamamatsu Photonics, Inc.
• Koninklijke Philips N.V.
• Olympus Corporation
• F. Hoffmann-La Roche Ltd.
• Mikroscan Technologies
• Inspirata, Inc.
• 3DHISTECH Ltd.
• Visiopharm A/S
• Apollo Enterprise Imaging Corp
• Huron Technologies International, Inc.
• ContextVision AB
• Akoya Biosciences, Inc.

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Table of Content

1. INTRODUCTION
   1. Market Ecosystem
   2. Timeline Under Consideration
      1. Historical Years – 2020
      2. Base Year – 2021
      3. Forecasted Years – 2022 to 2030
   3. Currency Used in the Report
2. RESEARCH METHODOLOGY 
   1. Research Approach
   2. Data Collection Methodology
   3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
   4. Market Estimation Approach
      1. Bottom Up 
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions
3. PREMIUM INSIGHTS
   1. Current Market Trends (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2021) 
4. MARKET DYNAMICS
   1. Drivers
   2. Restraints/Challenges
   3. Opportunities
5. GLOBAL DIGITAL PATHOLOGY SYSTEMS AND SOFTWARE MARKET – ANALYSIS & FORECAST, BY PRODUCT
   1. Devices
   2. Software
   3. Storage Systems
6. GLOBAL DIGITAL PATHOLOGY SYSTEMS AND SOFTWARE MARKET – ANALYSIS & FORECAST, BY APPLICATION
   1. Academic Research
   2. Drug Discovery
   3. Disease Diagnosis
7. GLOBAL DIGITAL PATHOLOGY SYSTEMS AND SOFTWARE MARKET – ANALYSIS & FORECAST, BY END-USER
   1. Diagnostic Labs
   2. Hospitals
   3. Pharmaceuticals & Biotechnology Companies
   4. Academic & Research Institutes

TOC Continued….

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