The Digital Pathology market is expected to reach US$ 1816.21 Million in 2028, growing at a CAGR of 11.8% during 2022- 2028, reports Stratview Research.

Raipur, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Digital Pathology Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.

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How is the Report Helpful?

The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.

Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.

What are the Top Market Drivers?

According to the report, the Digital Pathology market is driven by a host of factors, some of which are noted below:

• Increasing efficiency of digital pathology systems, ease of virtual transportation of slides, and efficient cost of digital pathology products.

• The surge in initiatives toward the commercialization of cost-effective digital pathology systems.

• A lack of skilled professionals and unclear reimbursement policies are expected to hamper the industry’s expansion.

The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.

Digital Pathology Market Segmentation:

Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.

• By Product (Software, Device [Scanners, Slide Management System], Storage, System)

• By Application (Drug Discovery & Development, Academic research, Disease Diagnosis, Cancer Cell Detection, Others)

• By End Use (Hospitals, Biotech & pharma companies, Diagnostic Labs, Academic & research institutes)

• By Region (North America, Europe, Asia-Pacific, and the Rest of the World)

Digital Pathology Market Insights

Market Trends Product Type

The Device Segment witnessed the highest market share of more than 50% in 2021 and is projected to register a healthy CAGR during the assessment period.

The market is segmented into software, device, storage, and system. This is mainly ascribed to the rise in academic research activities and improved resolution of slide management systems and scanners, thereby bolstering segment growth.

Market Trends Application Type

The Academic Research Application Segment accounted for the largest market share of more than 45.0% in 2021 and is projected to expand further at a steady CAGR from 2022 to 2030.

The market is segmented into Drug Discovery & Development, Academic research, Disease Diagnosis, Cancer Cell Detection, and Others.

Market Trends End-use Type

The Hospital's Segment accounted for the largest revenue share of more than 35% in 2021 owing to the high adoption of digital scanning techniques in hospitals for faster diagnosis and better patient compliance.

The market is segmented into hospitals, diagnostic labs, biotech and pharma companies, and academic and research institutes based on end-use.  In August 2020, Mackenzie Health and Philips teamed up to create one of Canada's first digital pathology platforms to assist patients in receiving faster and more effective care. Philips' IntelliSite pathology platform will help improve laboratory efficiency, increase access to specialists, and speed up diagnoses.

On the other hand, the diagnostic lab segment is expected to encounter the fastest CAGR from 2022 to 2030. The biotechnology & pharmaceutical companies segment is expected to have steady demand over the forecast period. According to the study, digital pathology will be used more frequently in drug development, oncology clinical trials, and preclinical GLP pathology over the forecast period because of cancer and the demand for improved treatment options.

Which region offers the best opportunity and growth?

The North American market accounted for the largest market share of over 40% in 2021 and is likely to grow at a robust CAGR during the review period.

This can be attributed to supportive government initiatives about the development of technologically advanced systems, continual deployment of R&D investments, growing adoption of digital imaging, and the presence of major players boosting the industry growth in the region.

However, Asia Pacific is expected to grow at the fastest CAGR. The increase in growth can be attributed to the rising penetration of digital imaging in emerging economies, the medical field's investments, and the availability of untapped markets in the Asia Pacific. The healthcare sector in the Asia Pacific has been highly influential due to the increased rate of cancer, which affects a large population.

COVID-19 Impact on the Digital Pathology Market

COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.

To know more about the covid-19 impact, get a free sample report, here:

https://www.stratviewresearch.com/Request-Sample/1566/digital-pathology-market.html#form

Who are the Top Market Players?

After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -

• Danaher (The U.S.)

• Hamamatsu Photonics, Inc (Japan)

• Koninklijke Philips N.V. (Netherlands)

• Olympus Corporation (Japan)

• F. Hoffmann-La Roche Ltd (Switzerland)

• Mikroscan Technologies (The U.S.)

• Inspirata, Inc (The U.S.)

• Visiopharm A/S (Denmark)

• Huron Digital Pathology (Canada)

• 3DHISTECH Ltd. (Hungary)

What deliverables will you get in this report?

• In-depth analysis of the Digital Pathology Market

• Detailed market segmentation.

• Competitive-landscape analysis.

• Historical, present, and future market size analysis.

• Industry trends, technologies, and advancements.

• Growth and operation strategies adopted by key players.

• Potential segments/regions offering promising growth.

• Geographical presence of the key players.

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