Covid 19 Impact on Digital Pathology Market Factors That Hamper The Growth Of The Market

Digital Pathology Market Overview

Digital pathology utilizes high-throughput, automated pathology scanners or image analysis tools to interpret and quantify biomarker expression to facilitate speedy disease. Market research Future (MRFR) has vigorously studied the macro and micro-economic trends affecting the global digital pathology market over the forecast period of 2018-2023 in an exhaustive study. MRFR has projected the digital pathology market to scale valuation of USD 8,305.6 Mn at a CAGR of 13.04% over the forecast period. 

The pressing need to expedite the diagnosis process and a dearth of registered pathologists has paved the way for the growth of the digital pathology market. Limited pathology services have not been able to keep pace with the increasing demand for the same. However, advancements in digital pathology technology such as robotic light microscopy, multiple fiber optic communications, and digital imaging have come to the forefront as an apt solution to the Digital pathology being an advanced concept of conventional pathology have preceded it with advantages such as short diagnosis time, easier slide access, and reduction of slide mixing. In addition, it provides a major cost benefit which has raised adoption among healthcare institutions. Moreover, digital pathology bridges the stark gap that exists between the supply and demand for pathological services. Furthermore, digital pathology combats the challenges faced by pathology practices such as the evolution of new technologies and ensures compliance with regulatory standards. 

Digital pathology services are being increasingly applied to various fields including tissue-based research, education, and drug development. Besides, the rise in a number of clinical and pre-clinical trials have induced high demand for pathological services across the globe. 

The increasing burden of chronic diseases, cancer, in particular, has generated massive demand for digital pathology services. The governments in multiple countries are endeavoring to provide access to sophisticated pathological services to patients and are outlaying hefty amounts on the modernization of healthcare infrastructure which has augmented the growth of the global digital pathology market. 

On the contrary, digital pathology services involve heavy capital investment in associated technologies which raises the cost of implementation. The high cost structure is likely to demote the adoption rate of digital pathology services. 

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Digital Pathology Market Segmentation

The global digital pathology market has been segmented based on type, product, application, and end user. 

By type, the digital pathology market has been segmented into human pathology and animal pathology. The human pathology segment has acquired the major share almost 65% of the global market. The segment is due to reach USD 5,475.4 Mn by 2023. 

By product, the digital pathology market has been segmented into hardware, software, and storage. The hardware segment accounts for the foremost share of the global market. Hardware assist in delivering test results and is likely to attain a market valuation of USD 6,031.9 Mn by 2023. 

By application, the digital pathology market has been segmented into disease diagnosis, Mhealth, drug discovery, and telemedicine. The disease diagnosis segment is dominating the market on account of heightened adoption of technologically-advanced devices for disease diagnosis. The segment is estimated to accumulate a valuation of USD 2,650 Mn by 2023. 

By end user, the digital pathology market has been segmented into hospital & clinic, diagnostic centers, and research centers & academic institutes. The adoption of digital pathology services is considerably high in research institutes as it facilitates faster and precise in-depth analysis of various disease conditions. The segment is expected to reach USD 3,778.4 Mn. 

Digital Pathology Market Regional Analysis

By region, the digital pathology market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA). 

Surging prevalence of chronic diseases, massive exp0enditure on healthcare facilities, and the presence of key players in the region have positioned the Americas as the leading digital pathology market. In addition, the market growth is boosted by the fast uptake of the latest technologies and developments such as AI for image analysis. 

Europe has acquired the second most significant share of the global digital pathology market. Prominent market players such as Leica Biosystems, Definiens, and others are based in Europe which gives Europe leverage over other markets. Higher spending on healthcare sector by the developed countries of the region such as Germany, France, Sweden, and others coupled with a gradual increase in the prevalence of chronic diseases in the region has acted as market growth motivators. 

The APAC digital pathology market is pegged to capture the highest CAGR of 13.53% over the forecast period. Mounting investment by the developing countries of the region towards the modernization of the healthcare sector has created a conducive environment for the growth of the market. The rising affluence of people and growing medical tourism industry is likely to further accelerate the growth of the market. 

The MEA digital pathology market is expected to demonstrate limited but steady growth over the forecast period. Limited access to healthcare services and unaffordability of advanced new technology are restricting the growth of the market. However, raising health awareness in the region is likely to uplift the growth of the market.

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Digital Pathology Market Competitive Landscape

Definiens (Germany), Mikroscan Technologies, Inc. (U.S.), Philips Healthcare (U.S.), Apollo Enterprise Imaging Corp. (U.S.), Omnyx, LLC (U.S.), Xifin Inc. (U.S.), Huron Digital Pathology Inc. (Canada), ViewsIQ Inc. (Canada), GE Healthcare (UK), 3DHISTECH Ltd (Hungary), microDimensions GmbH (Germany), and Q2 Solutions (U.S.) are the distinguished players in the digital pathology market.