Global Digital Pathology Market to Reach $2.7 Billion by 2032
The global digital pathology market was valued US$ 1.07 billion in 2022 and is expected to reach approximately US$ 2.7 billion by 2032, growing at a compound annual growth rate (CAGR) of 10% during the forecast period 2023-2032.
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Digital pathology, a computer-powered platform for managing image-based data from digital slides, serves a dual purpose in research. The global digital pathology market is experiencing substantial growth driven by several key factors. Chief among these is the increasing prevalence of cancer, which has created a heightened demand for precise diagnostic solutions. Additionally, key players in the industry are continuously developing new digital pathology systems, further propelling market expansion. The aging population and rapid technological advancements in digital pathology systems are additional factors contributing to this growth. The COVID-19 pandemic had a significant impact on the digital pathology market. During the pandemic's early phases, many pathology laboratories experienced workflow disruptions due to staff shortages, social distancing measures, and the prioritization of COVID-19 testing over non-urgent pathology procedures. The global supply chain was also disrupted, leading to shortages in critical laboratory supplies and equipment, including digital pathology systems. The increasing penetration of digitalization in healthcare refers to the growing use and integration of digital technologies, tools, and systems in various aspects of the healthcare industry. This transformation is driven by the recognition of the potential benefits of digitalization, including improved patient care, enhanced efficiency, and increased accessibility to healthcare services. Chronic diseases such as cancer, diabetes, and cardiovascular conditions represent a significant economic burden, accounting for approximately USD$ 4.1 trillion annually in the United States. These diseases are major contributors to disability and mortality, as reported by the Centers for Disease Control and Prevention (CDC). As of July 2022, six out of ten adults in the U.S. are living with at least one chronic condition, with four out of ten individuals managing two or more chronic illnesses. Stringent regulatory compliance in the digital pathology market refers to the strict adherence to regulations and standards set by governing bodies and authorities in various industries where digital pathology is utilized. These regulations are put in place to ensure the safety, quality, and hygiene of processes and products in sectors such as food and beverage, pharmaceuticals, biotechnology, cosmetics, and healthcare. In 2022, the scanners segment dominated the market, and this trend is expected to continue due to heightened research and development (R&D) activities in the pharmaceutical and medical device industry, increased demand for disease diagnosis, and a significant uptick in the adoption of digital pathology systems. The Asia Pacific digital pathology market holds the second-largest market share, driven by investments in the healthcare sector, untapped opportunities in the region, and the increasing adoption of digital imaging in emerging countries. The growing prevalence of cancer in Asia Pacific has significantly influenced the healthcare sector. The European digital pathology market is projected to experience the highest CAGR from 2022 to 2030. This growth can be attributed to patients' increasing preference for digital tools over traditional pathology methods and the strategic advancements made by key industry players in the region, including the patenting of unique technologies. Prominent market players are allocating substantial resources to research and development efforts aimed at diversifying their product portfolios, further fueling the growth of the digital pathology market. These market participants are also implementing various strategic initiatives to expand their global presence, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaborations with other organizations. For additional information on this market, be sure to check out the comprehensive new report Global Digital Pathology Market Size, Share & Trends Analysis by Factview Research. This report provides details on the global digital pathology market size, forecast, segmentation, regional dynamics, industry trends, and competitive intelligence. Factview Research is committed to offering thorough and cutting-edge insights to companies in a variety of industries. With hundreds of published market research reports available, Factview Research not only covers big and disruptive technologies, but also the new and niche markets that offer high growth potential.
The global digital pathology market was valued US$ 1.07 billion in 2022 and is expected to reach approximately US$ 2.7 billion by 2032, growing at a compound annual growth rate (CAGR) of 10% during the forecast period 2023-2032.Digital Pathology Market Drivers
Impact of COVID-19
Digitalization in Healthcare
Growth of Chronic Diseases
Government Regulations
Digital Pathology Market Segmentation
Competitive Strategies
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