Digital Pathology Market Trends

Growth Drivers

Surge in Incidence of Cardiovascular Diseases (CVDs) Around the World- As per the data from World Health Organization, a global estimate of 17.9 million people died from cardiovascular diseases in 2019, accounting for 32% of all deaths.
As chronic conditions become more prevalent, digital pathology is expected to become more essential to treat patients, improve diagnostic performance, and reduce the high cost of conventional diagnostics. Chronic diseases are associated with high mortality rates. Cardiovascular Diseases (CVDs) are highly prevalent, which makes advanced diagnostic and imaging procedures necessary.
Increasing Number of Laboratory Tests Performed Worldwide- According to the Centers for Disease Control and Prevention, a total of 14 billion laboratory tests are ordered each year. Lab test results are crucial to 70% of medical decisions, demonstrating the vital role clinical laboratories play in healthcare.
Rise in the Number of Drug Discovery Trials - According to research that was conducted, over 13% of clinical drug trials have been approved by the FDA in 2018, an increase from 2017
Increase in Exports of Automatic Data Processing Machines - The International Trade Center (Trademap) reports that the value of exports of automatic data processing machines in China in 2021 was USD 8,506,449 thousand, an increase from USD 7,397,894 thousand the previous year.
Rapid Adoption of AI Tools in Healthcare- For instance, the demand for artificial intelligence (AI)-based solutions is anticipated to rise by over 48% among healthcare organizations.

Challenges

Higher Maintenance Cost
Un-Availability Of Skilled Manpower
High Cost Associated With Integration And Implementation Of Hardware & Software

Digital Pathology Market: Key Insights

Base Year	2022
Forecast Year	2023-2033
CAGR	11%
Base Year Market Size (2022)	USD 1.029 Billion
Forecast Year Market Size (2033)	USD 2.450 Billion

Frequently Asked Questions (FAQ)

Rising incidence of chronic and cardiovascular disease, growing geriatric population along with introduction of AI tools in healthcare are the major factors driving the growth of the digital pathology market.

The market is anticipated to attain a CAGR of 11% over the forecast period, i.e., 2023-2033.

High maintenance and installation cost are the challenges affecting the market growth.

The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are ContextVision AB, Leica Biosystems Nussloch GmbH, GE Healthcare, Ventana Medical Systems Inc., Hamamatsu Photonics K.K., Apollo Enterprise Imaging Corporation, Xifin Inc., and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by component type, application, end user and, by region.

The hospital segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

Digital Pathology Market Trends