Digital Pathology Market: Current Analysis and Forecast (2021-2027)

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The digital pathology market is expected to register a CAGR of around 10% over the period of 2021-2027. Digital pathology is a practice of pathology using digital imaging. The application of this breakthrough technology is ready to become the standard of care in the field of pathology. Digital pathology uses still images, live streaming of images, and more recently whole slide images (WSI). Clinical applications include making primary pathological diagnoses directly from digital images, remote pathology, archiving, and image analysis. Non-clinical applications include skills testing, research, and education. The growing adoption of digital pathology can be attributed to the rising prevalence of cancer coupled with a rapidly growing geriatric population. According to the United Nations, the 60+ aged population was 962 million in 2017 which is more than twice that it was in 1980 at 382 million. The number of elderly people is expected to double again by 2050 and reach nearly 2.1 billion worldwide. Furthermore, the digital pathology market is anticipated to grow on account of the growing technological advancement, and demand for enhancing lab efficiency. Moreover, the rising prevalence of chronic diseases is expected to increase the clinical urgency of adopting digital pathology to improve the patient’s existing diagnostic imaging modality and reduce the high costs associated with the traditional diagnosis. Thereby, boosting the growth of the digital pathology market globally.

3dhistech Ltd., Danaher Corporation (Leica Microsystem), Glencoe Software Inc., Hamamatsu Photonics K.K., Indica Labs Inc., Koninklijke Philips N.V., Nikon Corporation, Perkinelmer Inc., F- Hoffmann La-Roche, Visiopharm A/S are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

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Insights Presented in the Report

“Amongst Product Type, the scanner category accounted for the majority share in the market in 2020”

Based on product type, the market is classified into the scanner, software, and storage system. Amongst product types, the scanner category accounted for a significant share of the market. The increase in R&D activities in the pharmaceutical & medical device industry and the surge in adoption of digital pathology systems contribute to the growth of the segment.

“Among Type, the human is expected to witness highest CAGR during the forecast period”

Based on type, the market is categorized into human and veterinary. Among these, human is expected to witness the highest CAGR during the forecast period. This is due to the increasing number of cancer research activities and the increasing collaborations between research institutes, universities, and pathology laboratories.

“Amongst Application, the drug discovery category accounted for the majority share in the market in 2020”

Based on application, the market is classified into teleconsultation, training, disease diagnosis, and drug discovery. Amongst them, the drug discovery category accounted for a significant share in the market due to an increase in cancer cases, rising adoption of digital pathology systems, and the development of new digital pathology systems in clinical laboratories. Moreover, Increased R&D costs, supported by the need for numerous preclinical and clinical studies conducted during the drug discovery and development process, are key factors contributing to market growth.

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“Amongst End-User, the pharmaceuticals category accounted for the majority share in the market in 2020”

Based on end-users, the market is classified into pharmaceutical & biotechnology companies, academic and research, and hospitals. Amongst end-users, the pharmaceutical & biotechnology companies category accounted for a significant share in the market due to the development of novel & innovative pathology systems, the increasing use of digital pathology for drug discovery studies and drug toxicology testing, and advancement in R&D activities. Moreover, many biotechnology companies are also using digital pathology for biobanking, biopharmaceutical studies, molecular assays, and the development of individualized medicine.

“North America to witness significant growth during the forecast period”

For a better understanding of the market dynamics of the digital pathology market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the digital pathology market industry and generated major revenue in 2020 owing to strong healthcare infrastructure and growing adoption of digital pathology in the region.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

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Research Methodology

Research Methodology for the Global Digital Pathology Market Analysis (2021-2027)

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global digital pathology market were the three major steps undertaken to create and analyze the adoption of digital pathology in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global digital pathology market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the digital pathology market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

After obtaining the historical market size of the digital pathology market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product type, type, application, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the digital pathology market. Further, we conducted factor analysis using dependent and independent variables such as various product types, type, application, and end-users of digital pathology. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the digital pathology market sector across the globe.

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Step 2: Market Segmentation:

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global digital pathology market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of digital pathology market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global digital pathology market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global digital pathology market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type, type, application, and end-users in the global digital pathology market.

The main objective of the Global Digital pathology Market Study

The current & future market trends of global digital pathology market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the digital pathology market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of product type, type, application, and end-users.
• Define and analysis of the regulatory framework for the digital pathology market industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the digital pathology market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
• Company profiles of the Digital pathology market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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