Digital pathology is an imaging system that converts simple microscopic images into digital images. It is widely used in screening of cancer, infectious diseases, and other diseases. The global Digital Pathology Market is estimated to account for US$ 1,182.9 Mn in terms of value by the end of 2027.
Global Digital Pathology Market: Drivers
Increasing clinical and preclinical trials are expected to boost growth. For instance, in March 2019, ClinicalTrials.gov listed 298,856 registered studies under clinical trials.
Global Digital Pathology Market: Opportunities
Key players in the market can focus on expanding their presence in emerging economies to enhance their market share as increasing number of hospitals in these economies are focused on adopting digital pathology products and services. For instance, in December 2019, Health Care Global Enterprise Ltd. (HCG) become the first hospital in India to completely digitise histopathology workflow for primary diagnosis at the HCG-Strand Laboratory in Bengaluru.
Global Digital Pathology Market: Restraints Lack of standards and lab information systems that are not yet ready to support digitalization is expected to hinder growth of the global digital pathology market.
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Key Takeaways: The scanners sub segment in by offering segment in the global digital pathology market was valued at US$ 218.5 Mn in 2018 and is expected to witness a CAGR of 11.6% during the forecast period. Scanners are medical instruments required for scanning of digital slides in digital pathology. Technologically advanced digital slide scanners are present in the market that offer quick and reliable results. The histopathology segment held dominant position in the global digital pathology market in 2018, accounting for 81.4% share in value, followed by haematology, and chemical pathology, respectively. Histopathology is highly used in cancer diagnosis, and increasing prevalence of the same is expected to support growth of the segment over the forecast period. For instance, according to National Cancer Institute (NCI), an estimated 1,735,350 new cases of cancer were diagnosed in the U.S. in 2018. The hospitals sub-segment in end user segment accounted for US$ 113.0 Mn in the global digital pathology market in 2018. Increasing prevalence of various diseases such as cancer, infectious diseases and others is expected to increase the demand for efficient, fast, and accurate diagnosis. Artificial intelligence powered digital pathology solutions are expected to cater to rapidly increasing demand of faster diagnosis.
Market Trends Key players in the market are focused on adopting inorganic growth strategies to expand their product portfolio. For instance, in December 2019, Sectra, a medical imaging IT and cybersecurity company collaborated with Leica Biosystems for an integrated clinical pathology solution that can help address the clinical needs of enterprise-level customers such as academic medical centers. Increasing establishment of digital pathology centers is also expected to boost growth of the market. For instance, in June 2018, LabCorp (NYSE: LH) collaborated with Mount Sinai Health System to establish the Mount Sinai Digital and Artificial Intelligence (AI)-Enabled Pathology Center of Excellence.
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Global Digital Pathology Market: Competitive Landscape
Major players operating in the global digital pathology include, Perkin Elmer, Inc., Definiens AG, Sectra ABss, Koninklijke Philips N.V., Paige, GE Healthcare, Inspirata Co.,Ventana Medical Systems, Inc., Leica Biosystems, 3D-Histech Ltd., and Hamamatsu Photonics, K.K.
Global Digital Pathology Market: Key Developments
Key players in the market are focused on gaining patents for their products. For instance, in November 2019, ContextVision, a medical technology software company, received patent protection in the U.S. for its proprietary Master Annotation method that aids to automatically and more objectively outline specific structures in pathology images used for training deep learning algorithms. In December 2019, Inspirata, a cancer informatics and digital pathology provider, announced a new partnership with Cirdan, a provider of laboratory information systems and medical-imaging to aid in effective adoption of their histopathology workflow for UK clinical laboratories.
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