The global Digital Pathology Market is estimated to be valued at US$ 884.4 Mn or Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Digital pathology utilize digital imaging tools like scanners, specialized software and storage to examine and interpret digitized glass slides on a computer monitor. Digital pathology increase efficiency and enhance workflow by enabling remote diagnosis and collaboration.
Market key trends:
One of the key market trends in digital pathology is the integration of artificial intelligence and deep learning algorithms. AI is helping pathologists to better diagnose diseases by augmenting human capabilities. AI analyzes digitized whole slides and detects anomalies which helps reduce diagnostic errors. It also automates tasks like counting of cells thus improving workflow. Another major trend is the increasing adoption of digital pathology in developing countries of Asia Pacific and Latin America. Countries are investing in healthcare infrastructure development which is driving the installation of digital pathology platforms in hospitals and diagnostic labs. This is expected to fuel market growth over the forecast period.
Market key trends:
One of the key trends in the Digital Pathology Market Size is the adoption of AI and machine learning capabilities by key players. AI and machine learning technologies are helping improve diagnosis by supporting digital scanning, analysis and interpretation of whole slide images (WSIs). Integrating AI into digital pathology solutions is allowing pathologists to spend less time on manual tasks and focus more on diagnosis and treatment planning. This is increasing efficiency as well as diagnostic accuracy in the field.
SWOT Analysis
Strength: Integrating AI and machine learning enables more accurate and efficient disease diagnosis.
Weakness: High upfront infrastructure costs for implementation of digital pathology solutions.
Opportunity: Growing cancer cases worldwide is increasing demand for improved diagnostic procedures.
Threats: Resistance from pathologists to adopt new digital technologies due to lack of experience in using virtual slides.
Key Takeaways
The global digital pathology market is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing prevalence of cancer worldwide. The market size for 2023 is US$ 884.4 Mn.
Regional analysis: North America is expected to dominate the global digital pathology market during the forecast period. This is attributed to increasing healthcare expenditure and growing adoption of advanced digital pathology solutions in the region. Asia Pacific is anticipated to exhibit the highest growth rate owing to rising healthcare infrastructure and growing medical tourism in developing countries of the region.
Key players operating in the digital pathology market are Leica Biosystems Nussloch GmbH, Â Olympus Corporation, Â F. Hoffmann-La Roche Ltd., Â Merck KGaA, Â GE Healthcare, Â Mikroscan Technologies, Inc., Â Koninklijke Philips N.V., Â Sectra AB, Â Propath UK Limited, Â Inspirata, Inc., Â Hamamatsu Photonics, Inc., Â OracleBio Limited, Â MD Biosciences, Â Aiforia, Â Xybion Digital Inc., Â Nucleai, Inc.
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