Global Digital Pathology Systems Market to Reach $1.2 Billion by 2026

SAN FRANCISCO, March 16, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Digital Pathology Systems - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 16; Released: February 2022
Executive Pool: 2281
Companies: 74 - Players covered include 3DHISTECH Ltd.; Apollo Enterprise Imaging Corp.; Carl Zeiss AG; Corista LLC; Glencoe Software, Inc; Hamamatsu Photonics K.K.; Huron Digital Pathology, Inc.; Indica Labs; Inspirata Inc; KANTERON SYSTEMS S.L.U; KONFOONG BIOTECH INTERNATIONAL CO.,LTD; Leica Biosystems Nussloch GmbH; MikroScan Technologies; Inc.; Objective Pathology Services; Olympus Corporation; OptraSCAN, Inc; Philips Healthcare; Proscia Inc; Sectra AB; Visiopharm A/S and Others.
Coverage: All major geographies and key segments
Segments: Segment (Device, Software, Other Segments); Type (Human Pathology, Veterinary Pathology); End-Use (Pharma & Biotech Companies, Hospitals & Reference Labs, Academic & Research Institutes)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry

ABSTRACT-

Global Digital Pathology Systems Market to Reach $1.2 Billion by 2026
In recent years, digital pathology has been emerging as one of the most promising technologies in clinical pathology and holds tremendous potential in replacing the traditional microscope-based diagnosis in the near future. Recent advancements in digital photography and slide scanning, and the declining prices of digital cameras have been revolutionizing conventional methods for the documentation of pathology findings, and the achievement of collaborative slide review and image analysis. Considerable skill is required to process and stain fluids and tissues for investigation. Digital pathology enables pathologists to collaborate on slide review across laboratories as well as transmit images to other experts for their first readings or second opinions. Digital pathology systems continue to attract attention in various end-use applications such as diagnostic tests, drug discovery & development, education & training, and academic research in human pathology, veterinary pathology, oral pathology and forensic pathology. Within the diagnostics space, digital pathology systems continue gain traction in medical microscopy, blood analysis, biopsy and dissection among others in the diagnosis of physiological disorders, and organic and infectious diseases.

Amid the COVID-19 crisis, the global market for Digital Pathology Systems estimated at US$810.9 Million in the year 2022, is projected to reach a revised size of US$1.2 Billion by 2026, growing at a CAGR of 13.9% over the analysis period. Device, one of the segments analyzed in the report, is projected to grow at a 13.8% CAGR to reach US$753.1 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 14.6% CAGR for the next 7-year period. This segment currently accounts for a 29.2% share of the global Digital Pathology Systems market.

The U.S. Market is Estimated at $353.6 Million in 2022, While China is Forecast to Reach $102.9 Million by 2026
The Digital Pathology Systems market in the U.S. is estimated at US$353.6 Million in the year 2022. The country currently accounts for a 42.12% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$102.9 Million in the year 2026 trailing a CAGR of 15.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.9% and 12.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.8% CAGR while Rest of European market (as defined in the study) will reach US$114.2 Million by the close of the analysis period.

Factors like COVID-19 along with rising cases of cancer and associated need to diagnose patient biopsies are providing a perfect platform for growth of digital pathology. The technology is anticipated to gain considerably from approval of latest digital pathology platforms and tools by the US FDA. Digital pathology is slated to hold a prominent role in cancer care specialties, especially prostate, skin and breast. The technology is finding increasing acceptance across leading healthcare facilities for analysis of patient images and delivery of enhanced pathology services. Digital pathology significantly improves laboratory efficiency, image management, clinical workflows, diagnostic accuracy and revenues. The technology is likely to gain further from increasing integration with AI and other emerging platforms intended to help pathologists in efficiently dealing with large data volumes for faster and accurate diagnostics. The ability of digital pathology systems to enhance operational efficiency, provide novel treatment methods, reduce lab expenses and more importantly improve overall patient care continues to fuel their adoption worldwide. Digital pathology systems also provide accurate pathological assessment, thus enabling proper, timely and cost effective treatment. The growing need for real time access to pathology outcomes constitutes a major driving force for the digital pathology market.

Also, scarcity of skilled pathologists and excess workloads on pathology teams in research labs and hospital setups continue to drive demand for sophisticated pathology systems. Rising preference for computer-aided diagnosis that enables efficient detection of diseases, quantification of risk assessment and disease progression, and evaluation of results at anatomic level is expected to drive demand for digital pathology systems. Rapidly increasing prevalence of various chronic diseases, such as cancer and cardiac diseases, due to an aging population and changing lifestyles are enhancing the need for faster and more reliable testing and diagnosis systems. In particular, the increasing incidence of cancer across the world and the subsequent increase in demand for timely cancer diagnosis and monitoring solutions remains a prime growth factor for the digital pathology systems market. Digital pathology systems have been proven to increase detection rates of cancer in early stages through identification of indicators that may otherwise go undetected through conventional pathology procedures. Also driving growth are factors such as rising awareness about diagnostic technologies and steadily growing disposable incomes of people across developed and developing economies, which will foster demand for digital pathology systems.

Increased Focus on Companion Diagnostics Spurs Growth
Companion diagnostics or pharmacogenomics, an emerging segment within the broader personalized medicine concept, is a novel diagnostic approach which focuses on evaluating and establishing the safety and efficacy of a drug and also the drug dosage for treating a patient. Growing importance of companion diagnostics in the process of drug discovery and development has been driven by its highly targeted approach, finding applications in the field of cardiovascular and neurological diseases, and oncology. Given their utility in personalized medicine, companion diagnostics are likely to benefit patients, physicians, insurance providers, as well as regulatory authorities in the coming years. Companion diagnostic device can be an imaging tool or in vitro diagnostic device that would allow the physician to make a safer and effective medical decision. In particular, companion diagnostics is being increasingly utilized as a means to accelerate the process of drug approvals, and to facilitate development of focus therapy based on tumor-specific and patient-centric genetic markers. Technological advances have led to considerable progress in the field of companion diagnostics, for ascertaining the effects of individual's genetic makeup on the body's response to specific drugs. Companion diagnostics has applications in cancer, depression, cardiovascular disorders, attention deficit disorders, bipolar disorder, tuberculosis, HIV, diabetes and asthma. In addition, companion diagnostics is also finding use in the treatment of schizophrenia and anti-depressant therapy, among others. The widening scope of companion diagnostics is poised to benefit the digital pathology systems market, which help in analyzing and evaluating the specimen in a better way than the conventional pathology processes while delivering high-quality, best-in-class results to effectively supplement the companion diagnostics concept.

By Type, Human Pathology Segment to Reach $1.1 Billion by 2026
Global market for Human Pathology (Type) segment estimated at US$474.2 Million is projected to reach US$1.1 Billion by 2026 reflecting a compounded annual growth rate of 14.5% over the analysis period. The United States constitutes the largest regional market for Human Pathology segment, accounting for 41.6% of the global sales. United States is poised to register the fastest compounded annual growth rate of 16.2% over the analysis period, to reach US$565.8 Million by the end of the analysis period. More

MarketGlass™ Platform
Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today`s busy business executive`s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include - enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.

Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android

About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

LINKS
Join Our Expert Panel
https://www.strategyr.com/Panelist.asp

Connect With Us on LinkedIn
https://www.linkedin.com/company/global-industry-analysts-inc./

Follow Us on Twitter
https://twitter.com/marketbytes

Journalists & Media
[email protected]

SOURCE Global Industry Analysts, Inc.