The global digital pathology market by revenue is expected to grow at a CAGR of over 10% during the period 2020–2026

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New York, July 09, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Digital Pathology Market – Global Outlook and Forecast 2021-2026” – https://www.reportlinker.com/p06103709/?utm_source=GNW

With the emergence of whole slide imaging, the area of digital pathology has boomed tremendously. It is one of the popular, low-cost, and fast avenues of diagnosis and prognosis of cancer and other chronic diseases. The shift toward digitalization of healthcare and the catalyst effect of the COVID-19 pandemic is expected to increase the adoption of digital pathology in primary diagnosis. The incorporation of artificial intelligence further extends the limits of pathology studies and data management, helping to increase the acceptance of digital pathology. In addition, the introduction of artificial intelligence provides computational aid to pathologists and improves the connectivity of the data with laboratory information systems and hospital information systems. AI solutions can automate pathological processes such as documentation, which can decrease turnaround time, thus improving customer satisfaction.

The following factors are likely to contribute to the growth of the digital pathology market during the forecast period:
• Increasing Use of Digital Pathology in Medical Development and Companion Diagnostics
• Integration of Artificial Intelligence with Healthcare Sector
• Implementation of Blockchain in HER Management
• Digitalization of Healthcare Sector

The study considers the global digital pathology market’s present scenario and its market dynamics for the period 2020?2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

DIGITAL PATHOLOGY MARKET SEGMENTATION
The digital pathology market research report includes a detailed segmentation by application, component type, end-user, geography. The global digital pathology academic research and teaching market is expected to reach USD 598.58 million by 2026. The demand for digital pathology solutions is likely to witness exponential growth as they help to educate and train professionals in pathology and histopathology services from remote locations. Hence, digital pathology solutions are widely adopted over conventional solutions for academic research, disease diagnosis, and drug discovery and development. Regulatory approvals are a critical step in deciding the application of WSI scanners and software. In Europe, WSI scanners are cleared to be used for in-vitro diagnosis under the European Union. WSI viewers, digital pathology software, automated image analysis, etc. are eligible for CE-marking. Hence, these developments are likely to increase digital solutions for academic institutes and research purposes.

The inclusion of artificial intelligence in digital pathology solutions and machine & deep learning have improved disease analysis, thereby influencing the growth of in academic and research institutes. Diagnostic and pathology laboratories are likely to account for over USD 358.58 million by 2026. The growth can be attributed to the increasing acceptance in Europe, APAC, and Middle East and African countries. As the systems have been cleared for in-vitro diagnostic medical devices application in Europe, this has fuelled increased investments in the market share. The global digital pathology market by contract research organizations (CRO) expects to grow at a CAGR of approx. 10.58% during the forecast period. CROs have shown interest in digital pathology solutions to improve workflow efficacy by using AI and automation solutions. AI can help to provide predictive analysis and automate pathological processes help to minimize human errors.

As technology advances, the accuracy and scope of digital slide scanners are expanding to cover several fields of pathology. The increasing demand for digital pathology solutions and innovations in scanning technology boost the growth of the hardware segment, which is likely to continue during the forecast period. The global digital pathology market by software expects to reach over $327 million by 2026. Software solutions observe an increased use of AI, deep learning systems (DLS), and machine learning for automated image analysis. The entry of several startups in developing digital pathology software solutions is likely to increase the segment’s growth.

Application
• Academic Research & Teaching
• Disease Diagnosis
• Drug Discovery & Development

Component Type
• Hardware
• Software
• Storage

End-User
• Diagnostic & Pathology Laboratories
• Pharmaceutical and Biotechnology Companies
• Clinical Research Organizations
• Academic & Research Institutes

INSIGHTS BY GEOGRAPHY
In terms of revenue and share, the North America region leads the market. The growth of digital pathology in North America is due to the shift toward the digitalization of the healthcare sector. Healthcare in the US and Canada observe significant reforms, which focus on the digitalization of healthcare technology and shifting to increase the efficiency of healthcare to improve accessibility and affordability. Healthcare facilities are incorporating several digital technologies in their workflow processes. The outbreak of the COVID-19 pandemic, increase in federal regulations, growth in financial incentives, high innovations in healthcare have increased the necessity to incorporate digital pathology solutions to improve the patient-pathologist relationship. This expects to fuel the development of the digital pathology market in North America.

Geography
• North America
o US
o Canada
• Europe
o UK
o Germany
o France
o Italy
o Spain
• APAC
o China
o India
o Japan
o South Korea
o Australia
• Latin America
o Mexico
o Brazil
o Argentina
o Colombia
• Middle East & Africa
o Saudi Arabia
o Turkey
o South Africa

INSIGHTS BY VENDORS
The global digital pathology market is currently highly competitive and is likely to become competitive during the forecast period with the increasing acceptance of digital pathology services. Philips, Leica Biosystems, Roche, Hamamatsu, and 3DHISTECH are a few prominent companies that dominate the market. Both Philips and Leica Biosystems have USFDA-approved WSI scanners, which have resulted in high acceptance and increased demand for WSI scanners. It is followed by Hamamatsu Photonics, which has many strategic collaborations that have provided a significant market share.

Prominent Vendors
• Koninklijke Philips
• F. Hoffmann-La Roche
• Leica Biosystems Nussloch
• Hamamatsu Photonics
• Sectra AB
• 3DHISTECH
• Hologic

Other Prominent Vendors
• Aiforia
• Akoya Biosciences
• Deep Lens
• Deciphex
• Huron Technologies International
• Ibex Medical Analytics
• Instapath
• Inspirata
• Microsoft
• NVIDIA
• OptraSCAN
• Paige AI
• PathologyWatch
• Proscia
• Sonrai Analytics
• Visiopharm
• Visikol

KEY QUESTIONS ANSWERED:
1. How big is the digital pathology market? 
2. Which segment accounted for the largest digital pathology market share in 2020? 
3. Which geographical region dominates the digital pathology market? 
4. Which region holds the maximum digital pathology market share? 
5. Who are the top industry players in the global market?
Read the full report: https://www.reportlinker.com/p06103709/?utm_source=GNW

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