Brainy Insights launched a study titled Global Digital Pathology Market Size By Product Type (Software, Scanners, and Storage & Communication Systems), By Application (Training & Education, Disease Diagnosis, Teleconsultation, and Drug Discovery), End-User (Clinical, Educational, and Pharma & Biotech Companies), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030
The global digital pathology market is expected to grow from USD 635.0 million in 2021 to USD 1290.6 million by 2030, at a CAGR of 8.2% during the forecast period 2022-2030. The market has been growing owing to the increasing demand for customized medicines to treat different types of chronic disease and the need for accurate lab results of the diagnosis. The advancement in technology for the development of drugs for the treatment of diseases such as cancer is also propelling the market growth.
The scanner segment dominated the market with a market revenue of 266.7 million in 2021
The product type of the digital pathology market segment is divided into software, scanners, and storage & communication systems. In 2021, the scanner segment dominated the market with a market revenue of 266.7 million. The increasing need for efficient lab results for disease diagnosis is expected to drive market growth. Moreover, the growing adoption of digital pathology solutions is also propelling market growth.
The drug discovery segment is expected to grow at the fastest CAGR of 9.3% over the forecast period.
The application segment of the digital pathology market is divided into training & education, disease diagnosis, teleconsultation, and drug discovery. Over the forecast period, the drug discovery segment is expected to grow at the fastest CAGR of 9.3%. There has been a rise in research and development for drug discovery owing to rising incidences of diseases such as respiratory diseases, cancer, and several others. This can be done by using the diagnosis results of diseases.
The pharma & biotech companies segment accounted for the largest share of the market with 43%
The end-user segment of the digital pathology market is divided into clinical, educational, and pharma & biotech companies. In 2021, the pharma & biotech companies segment dominated the market, accounting for around 43% of global revenue. The increasing cases of chronic diseases and the rise in the need for customized medicines are driving the market growth as pharma & biotech companies use digital pathology results for studying the medical care of patients and curating medicines based on the results.
Regional Segmentation Analysis:
The market is analyzed based on five regions, namely Europe, Asia Pacific, North America, South America, and the Middle East and Africa. During the forecast period, North America is expected to be the largest market. The digital pathology market in North America has been expanding rapidly due to the growing investment by government organizations to improve the efficiency of lab diagnosis using digital slides. This will also help in reducing the time taken for receiving the results of the test. The regions such as the US have the highest cases of chronic diseases and favorable reimbursement policies, which drive the growth of the digital market in the region during the forecast period.
Competitive Analysis:
The major players in the market include 3DHISTECH, Corista, Aiforia Technologies Oy, Akoya Biosciences, OptraSCAN, Glencoe Software, QProscia Inc, Kanteron Systems, Mikroscan Technologies, and OptraSCAN, among others.
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