June 14, 2024

Digital Pathology Market High Growth Opportunities, Emerging Trends, Industry Review, Forecast Till 2031

The global digital pathology market is witnessing rapid growth owing to the increasing adoption of digital pathology solutions over conventional microscope-based pathology. Digital pathology solutions provide various advantages such as the ability to view slides remotely anywhere in the world using computers or mobile devices, significantly reducing turnaround time and improving collaboration between pathologists. Digital pathology also enables precision diagnosis through features such as multi-level zooming, annotation tools, image analysis tools among others. This has substantially improved workflow efficiency within pathology laboratories. Digital slides require significantly less storage space compared to glass slides, reducing storage costs.

The global digital pathology market is estimated to be valued at US$ 994.95 Mn in 2024 and is expected to exhibit a CAGR of 12.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Get more insights on this topic: https://www.coherentmarketinsights.com/market-insight/digital-pathology-market-379

Market key trends:

One of the key trends in the digital pathology market is the growing adoption of whole slide imaging systems. Whole slide imaging allows digitizing an entire glass slide onto a digital slide to enable remote viewing and analysis. This has further enabled applications of AI and machine learning algorithms for computer-assisted diagnosis, significantly improving diagnostic accuracy. Another major trend is the increasing incorporation of integrated & standalone software in digital pathology solutions. Software solutions enable collaborative diagnosis, integrated image analysis, case management, reporting and are helping drive faster clinical adoption of digital pathology techniques globally.

Porter’s Analysis

Threat of new entrants: The digital pathology market has moderate threat from new entrants due to high investment requirements for software and scanners.

Bargaining power of buyers: Buyers have moderate bargaining power due to presence of numerous vendors providing digital pathology solutions.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute products and differentiation in products.

Threat of new substitutes: Threat from substitutes is low as digital pathology offers significant advantages over traditional microscopy methods.

Competitive rivalry: The market witnesses high competition due to presence of numerous international and regional players.

Key Takeaways

The global digital pathology market is expected to witness high growth over the forecast period driven by increasing adoption of digital pathology to enhance lab efficiency.

North America dominated the market and is expected to grow at a high pace during the forecast period due to favorable government initiatives and increasing healthcare expenditure. Europe is also expected to have significant growth owing to increasing adoption of digital pathology solutions across healthcare facilities.

Key players operating in the digital pathology market are Leica Biosystems Nussloch GmbH, Olympus Corporation, F. Hoffmann-La Roche Ltd., Merck KGaA, GE Healthcare, Mikroscan Technologies, Inc., Koninklijke Philips N.V., Sectra AB, Propath UK Limited, Inspirata, Inc., Hamamatsu Photonics, Inc., OracleBio Limited, MD Biosciences, Aiforia, Xybion Digital Inc., Nucleai, Inc. Key players are focusing on new product launches and strategic collaborations to strengthen their market position.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it