NEW YORK, Jan. 18, 2023 /PRNewswire/ -- As per Facts and Factors study, The global Digital Pathology market was valued at approximately USD 740.26 Million in 2021 and is expected to generate revenue of around USD 1738.82 Million by end of 2028, growing at a CAGR of around 13.8% between 2022 and 2028.
Digital Pathology Market: Overview
Digital pathology is a diagnosis carried out by the use of various computer technologies. Digitized specimen slide generates information that is managed by advanced computation and through virtual microscopy. Advancement in genetic science, medical science as well as computer technology together hand in hand has developed the subfield of pathology called digital pathology. During disease diagnosis, digitization of pathology is performed at hospitals, diagnostic centers. It offers a high-resolution sample scanning, analysis of computer images, and online storage of digital slides which enables pathologists to examine slides without forensic evidence.
Get a Free Sample Report with All Related Graphs Charts (with COVID 19 Impact Analysis): https://www.fnfresearch.com/sample/digital-pathology-market
Facts and Factors published the latest report titled "Digital Pathology Market by Product (Scanners, Software, Communication Systems, and Storage Systems), By Type (Human Pathology, Veterinary Pathology), By Application (Drug Discovery, Disease Diagnosis, Training Education, and Tele-consultation), By End User (Hospitals, Pharmaceutical Biotechnology Companies, Diagnostic Labs, and Academic Research Institutes): Global Industry Perspective, Comprehensive Analysis, and Forecast 2022 – 2028" into their research database.
Digital Pathology Market: Growth Drivers
Digital pathology improves lab efficiency by lowering costs, speeding up response times, and giving subject-matter expertise. Patients and doctors rely on lab data for diagnosis, thus tests must be conducted fast and precisely. Moreover, pathologists save money and time by accessing digitized slides via web services. The COVID-19 pandemic has prompted lockdowns and social restrictions. These constraints have spurred demand for digital pathology technologies, which allow pathologists to assess medical outcomes distant from initial diagnosis.
Digital Pathology Market: Restraints
A standard digital pathology system contains a slide scanner, image server, and software. A digital pathology scanner costs between $110,000 and $130,000 in Asia-Pacific. Big hospitals with huge capital expenditures can afford these technologies, whereas pathologists and academic institutes with small budgets or no IT assistance cannot. Healthcare professionals in poor countries like India, Brazil, and Mexico cannot afford such high-tech equipment. Also, trained personnel are necessary to efficiently handle and maintain digital pathology systems. It is believed that the expensive cost of these systems, coupled with a lack of experienced individuals to handle digital pathology equipment, will limit their use.
Directly Purchase a Copy of the Report @ https://www.fnfresearch.com/buynow/su/digital-pathology-market
Global Digital Pathology Market: Opportunities
The high cost of digital pathology technology, like scanners, restricts industry expansion. Thus, the introduction of cheap scanners should benefit participants in the digital pathology industry. Small firms can't afford pricey digital pathology systems. The availability of low-cost scanners and small players' willingness to digitize pathology processes may inspire pathologists with restricted finances to use them.
Global Digital Pathology Market: Challenges
Pathologists perform vital laboratory tests for illness diagnosis. However, there is a lack of pathologists globally, particularly in Africa and Asia-Pacific. A Springer study (2020) found that Switzerland had 35,355 residents per pathologist, while Canada and the US have 20,658 and 25,325, respectively. In Germany, one pathologist per 47,989 people. Digital pathology helps clinicians safely share data with pathologists across geographical borders. Moreover, modern technologies like AI and machine learning assist pathologists to diagnose diseases faster and more effectively. Due to the acute lack of pathologists, digital pathology is likely to be increasingly used for remote pathological consultation and services.
Global Digital Pathology Market: Segmentation
On the basis of Product, the global digital pathology market is segmented into scanners, software, communication systems, and storage systems. In 2020, the scanners segment was expected to account for the majority of the market share. The software segment, on the other hand, is predicted to grow at the fastest rate between 2021 and 2028. The scanner aids in the production of rapid, dependable, and high-resolution photographs of cell nuclei. It also assists pathologists, histologists, and other medical experts in scanning slides and uploading them to a network for remote access and collaboration between experts.
On the basis of type, the global market is categorized into human pathology, veterinary pathology. By application segment, the global digital pathology market is divided into drug discovery, disease diagnosis, training education, and teleconsultation. In 2020, the drug discovery category was expected to account for the biggest percentage of the market overall. During the year 2021–2028, the same segment, on the other hand, is predicted to post the greatest CAGR. One of the primary drivers of growth in the drug discovery segment is the core advantage that digital pathology offers pharmaceutical research, which is the application of image analysis algorithms for decreasing the number of subject interpretations, growing awareness of neurological disorders, and the availability of advanced EEG products.
By end-user, the market is classified into hospitals, pharmaceutical biotechnology companies, diagnostic labs, and academic research institutes. Pharmaceutical and biotechnology companies are expected to dominate the industry in 2020. By 2028, the same category is predicted to be the market's largest shareholder. Pharmaceutical and biotechnology companies are digitizing their work. Companies are continually searching for new chemicals and biomarkers. In addition, digital pathology facilitates data interchange between pharmaceutical corporations and RD labs. Due to the causes listed above, the market for pharma and biotech firms is expected to rise in the future years.
Get More Insight before Buying@: https://www.fnfresearch.com/inquiry/digital-pathology-market
List of Key Players in Digital Pathology Market:
Key questions answered in this report:
Market size value in 2021
USD 740.26 Million
Revenue forecast in 2028
USD 1738.82 Million
CAGR of almost 13.8% 2022-2028
2016 – 2021
2022 – 2028
By Type, By Application, By Payload and By Propulsion System
Value (USD Billion), and Volume (Units)
Revenue in USD million/billion and CAGR from 2022 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Koninklijke Philips N.V., Hamamatsu Photonics, Leica Biosystems, Visiopharm A/S, Corista, Indica Labs, OptraSCAN, Glencoe Software, Inspirata Inc., Mikroscan Technologies, Proscia Inc., Kanteron Systems, Roche, Apollo Enterprise Imaging, Sectra AB, and Huron Digital Pathology among others.
Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Avail of customized purchase options to meet your exact research needs.
Free Brochure: https://www.fnfresearch.com/ask-to-analyst/digital-pathology-market
Asia-Pacific is expected to record the highest rate of growth over the next few years due to a rise in awareness of digital pathology systems. The presence of a large patient base with chronic infectious diseases and an increase in expenditure in healthcare infrastructure will support the market growth during the forecast timeline. Moreover, the ever-changing life science sector is predicted to offer lucrative market expansion opportunities in developing economies such as China, India, and Malaysia. North America accounted for the major market share among the others, and it has been expected to maintain this trend in the near future, owing to the huge adoption of digital pathology systems.
Global Digital Pathology Market is segmented as follows:
Digital Pathology Market: By Product Outlook (2022-2028)
Digital Pathology Market: By Type Outlook (2022-2028)
Digital Pathology Market: By Application Outlook (2022-2028)
Digital Pathology Market: By End-User Outlook (2022-2028)
Digital Pathology Market: By Region Outlook (2022-2028)
Middle East Africa
Press Release for Digital Pathology Market: https://www.fnfresearch.com/news/global-digital-pathology-market
Browse Other Related Research Reports from Facts and Factors
Browse through Facts and Factors's coverage of the Global Healthcare Industry
Follow Us on: LinkedIn | Twitter | Facebook
Facts and Factors is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, and company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client's needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Facts and Factors Tel: +1 347 690-0211 USA/Canada Toll-Free No. +44 2032 894158 Email: email@example.com Website: https://www.fnfresearch.com/
SOURCE FnF Research