June 14, 2024

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

Digital pathology involves digitizing glass slides through high-resolution scanning and utilizing powerful algorithms for analysis and interpretation of tissue samples. This allows pathologists to observe tissue samples digitally on high-resolution screens instead of microscopes and share images across geographies for additional consultation, which allows for faster diagnosis. Digital pathology has several advantages over traditional microscopy as it enables pathologists to view and annotate multiple slides simultaneously, perform automatic image analysis, long-term archiving and easy retrieval of slides.

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 major trends in the Digital Pathology Market is the increasing adoption of whole slide imaging solutions among major healthcare institutions and pathology laboratories. Whole slide imaging digitally scans entire glass slides at high resolutions which can then be stored, analyzed, and shared digitally. Moreover, whole slide imaging speeds up the workflow as compared to conventional microscopy and delivers benefits like remote consultation with expert pathologists and multitasking capabilities. Leading healthcare providers are incorporating whole slide imaging solutions to enhance diagnostic accuracy through the integrated analysis of multiple tissue samples on a single digital platform. This is expected to propel the demand for whole slide imaging systems over the forecast period.

Porter’s Analysis

Threat of new entrants: The digital pathology market requires high capital investment in R&D, regulatory approvals and setting up of production facilities. This poses significant barriers for new players.
Bargaining power of buyers: The digital pathology market has moderately consolidated buyers in terms of hospitals, diagnostic centers, pathology laboratories. The bargaining power of these buyers is moderate.
Bargaining power of suppliers: The digital pathology market has a fragmented supply network with presence of both global as well as regional players. This provides buyers with choice and competitive prices.
Threat of new substitutes: There are limited product substitutes for digital pathology solutions. Hence, the threat from substitutes is low.
Competitive rivalry: The digital pathology market is competitive with presence of global as well as regional players. Players differentiate based on technologies, features and services.

Key Takeaways

The global digital pathology market is expected to witness high growth over the forecast period. 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.

Regional analysis

North America accounts for the largest share in the global digital pathology market due to high adoption rate driven by supportive government initiatives and increasing use in cancer diagnosis. The Asia Pacific market is witnessing fastest growth aided by growing healthcare infrastructure, rising cancer incidence as well as growing awareness about diagnostic benefits of digital pathology in countries like China, India and Japan.

Key players

Key players operating in the digital pathology market are Danaher Corporation, Hamamatsu Photonics K.K., Koninklijke Philips N.V., Roche, and (company names omitted as per instruction). These players are focusing on new product launches, partnerships and regulatory approvals to consolidate their market presence.

*Note:

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