Digital Pathology Global Market Opportunities and Strategies Report 2023: A $2.685 Billion Market by 2031 Featuring Danaher, F. Hoffmann-La Roche, Koninklijke Philips, Hamamatsu Photonics, 3DHISTECH

DUBLIN, March 7, 2023 /PRNewswire/ -- The "Digital Pathology Global Market Opportunities and Strategies to 2031" report has been added to  ResearchAndMarkets.com's offering.

The digital pathology market reached a value of nearly $800.3 million in 2021, having grown at a compound annual growth rate (CAGR) of 12.3% since 2016. The market is expected to grow from $800.3 million in 2021 to $1,404.0 million in 2026 at a rate of 11.9%. The market is then expected to grow at a CAGR of 13.9% from 2026 and reach $2,685.8 million in 2031.

Growth in the historic period resulted from rapid growth in the elderly population, increase in medical errors, increase in cancer prevalence, increase in chronic diseases, growth in the number of healthcare facilities, increased healthcare expenditure, public health insurance reforms and the COVID-19 pandemic.

Going forward, government support, increasing adoption of digital devices, increasing prevalence of cancer and chronic diseases, aging population and emergence of infectious diseases will drive the growth. Factors that could hinder the growth of the digital pathology market in the future include lack of healthcare infrastructure and the Russian-Ukrainian war.

The digital pathology market is segmented by product into scanners, software, and storage and communication systems. The scanners market was the largest segment of the digital pathology market segmented by product, accounting for 60.0% of the total in 2021. Going forward, the software market is expected to be the fastest growing segment in the digital pathology market segmented by product, at a CAGR of 12.9% during 2021-2026.

The digital pathology market is segmented by type into human pathology and veterinary pathology. The human pathology market was the largest segment of the digital pathology market segmented by type accounting for 82.6% of the total in 2021. Going forward, the human pathology market is expected to be the fastest growing segment in the digital pathology market segmented by type, at a CAGR of 12.0% during 2021-2026.

The digital pathology market is segmented by end user into pharmaceutical and biotechnology companies, hospitals and reference laboratories, academic and research institutes. The hospitals and reference laboratories market was the largest segment of the digital pathology market segmented by end user, accounting for 55.2% of the total in 2021.

Going forward, the pharmaceutical and biotechnology companies market is expected to be the fastest growing segment in the digital pathology market segmented by end user, at a CAGR of 12.7% during 2021-2026.

The digital pathology market is segmented by application into drug discovery, disease diagnosis, teleconsultation and training and education. The drug discovery market was the largest segment of the digital pathology market segmented by application, accounting for 42.2% of the total in 2021.

Going forward, the drug discovery market is expected to be the fastest growing segment in the digital pathology market segmented by application, at a CAGR of 12.2% during 2021-2026.

North America was the largest region in the digital pathology market, accounting for 41.3% of the total in 2021. It was followed by Asia Pacific, and then the other regions. Going forward, the fastest-growing regions in the digital pathology market will be North America, and, Western Europe where growth will be at CAGRs of 12.6% and 12.2% respectively. These will be followed by Asia Pacific, and, Middle East where the markets are expected to grow at CAGRs of 11.9% and 8.9% respectively.

The digital pathology market is highly consolidated with a small number of large companies. The top ten competitors in the market made up to 62.71% of the total market in 2021.

Danaher Corporation was the largest competitor with 18.45% share of the market, followed by Hoffmann-La Roche Ltd with 15.36%, Koninklijke Philips N.V. with 13.38%, Hamamatsu Photonics K.K with 2.92%, 3DHISTECH Ltd with 2.62%, Olympus Corporation with 2.17%, Nikon Corporation with 2.07%, Visiopharm A/S with 2.00%, Indica Labs Inc with 2.00%, and Sectra AB with 1.74%.

The top opportunities in the digital pathology market segmented by product will arise in the scanners segment, which will gain $344.6 million of global annual sales by 2026. The top opportunities in segment by type will arise in the human pathology segment, which will gain $501.6 million of global annual sales by 2026.

The top opportunities in segment by end user will arise in the hospitals and reference laboratories segment, which will gain $318.2 million of global annual sales by 2026. The top opportunities in segment by application will arise in the drug discovery segment, which will gain $263.4 million of global annual sales by 2026. The digital pathology market size will gain the most in the USA at $253.7 million.

Market-trend-based strategies for the digital pathology market include leveraging artificial intelligence to improve automation, focusing on cloud technology to standardize and simplify digital pathology deployments, adopting the digital imaging and video streaming technology, focusing on developing new technological solutions, focusing on partnerships to expand product portfolio and investing in research and development (R&D) activities.

Player-adopted strategies in the digital pathology market include focusing on technical and regulatory integration needs, providing fast and accurate patient diagnoses, focusing on future data-driven healthcare systems, focusing on strategic partnerships and collaborations and helping pathologists manage their workflows efficiently.

To take advantage of the opportunities, the publisher recommends the digital pathology companies to focus on use of artificial intelligence in digital pathology, focus on cloud technology, focus on new product launches, focus on technology advancements, expand in emerging markets, continue to focus on developed markets, focus on partnerships and collaborations, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions, continue to target fast-growing end-users, focus on fast-growing applications.

Company Profiles

• Danaher Corporation
• F. Hoffmann-La Roche Ltd
• Koninklijke Philips N.V.
• Hamamatsu Photonics K.K
• 3DHISTECH Ltd

Key Mergers and Acquisitions

• PHC Holdings Acquired Microm Microtech France (MMFrance) and Laurypath
• SourceBio International Acquired LDPath
• Sonic Healthcare Acquired ProPath
• Nexus Acquired dc-systeme
• Cyted Acquired Pathognomics
• Change Healthcare Acquired Nucleus.io
• Cirdan Acquired Philips Digital and Computational Pathology Business (PathXL)
• Telemis Acquired ITZ Medicom
• Inspirata Acquired Omnyx

Key Topics Covered:

1. Executive Summary

2. Table of Contents

3. List of Figures

4. List of Tables

5. Report Structure

6. Introduction and Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Digital Pathology Market Definition and Segmentations
6.4. Market Segmentation by Product
6.4.1. Scanners
6.4.2. Software
6.4.3. Storage and Communication Systems
6.5. Market Segmentation by Type
6.5.1. Human Pathology
6.5.2. Veterinary Pathology
6.6. Market Segmentation by End User
6.6.1. Pharmaceutical and Biotechnology Companies
6.6.2. Hospitals and Reference Laboratories
6.6.3. Academic and Research Institutes
6.7. Market Segmentation by Application
6.7.1. Drug Discovery
6.7.2. Disease Diagnosis
6.7.3. Teleconsultation
6.7.4. Training and Education

7. Major Market Trends
7.1. Artificial Intelligence In Digital Pathology
7.2. Cloud Technology In Digital Pathology
7.3. Digital Imaging (DI) and Video Streaming (VS)
7.4. New Product Launches
7.5. Technology Advancements
7.6. Increase In Partnerships And Collaborations
7.7. Increase In Research And Development Activities

8. Global Market Size and Growth
8.1. Market Size
8.2. Historic Market Growth, 2016 - 2021, Value ($ Million)
8.2.1. Market Drivers 2016 - 2021
8.2.2. Market Restraints 2016 - 2021
8.3. Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
8.3.1. Market Drivers 2021 - 2026
8.3.2. Market Restraints 2021 - 2026

9. Global Digital Pathology Market Segmentation
9.1. Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.2. Type, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.3. End User, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.4. Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)

For more information about this report visit https://www.researchandmarkets.com/r/wf3h6x

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