Digital Pathology Market Size & Share, by Component Type (Hardware, Software, Services); Application (Tele-Consultation, Disease Diagnosis, Drug Discovery, Education & Training, Pathology Screening); End-user (Hospitals, Clinics, Diagnostic & Private Laboratories, Research Centers) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

Global Digital Pathology Market Highlights Over 2023 - 2033

The global digital pathology market is estimated to garner a revenue of ~USD 2450 Million by the end of 2033 by growing at a CAGR of ~11% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 1029 Million in the year 2022. The market growth can be attributed primarily to the rising prevalence of cancer worldwide. Globally, cancer causes more than 10 million deaths each year, according to the World Health Organization. 

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Digital pathology subfield focuses on managing data collected from digitized specimen slides using information generated from those slides. Through the use of computer-based technology, digital pathology utilizes virtual microscopy. A computer monitor can be used to view, share, manage, analyze and interpret glass slides transformed into digital slides. Moreover, growing elderly population, the rapid development in advance pathology technology, growing number of healthcare organizations adopting digital imagining, introduction of hybrid models along with rising healthcare spending is expected to drive global digital pathology market growth during the forecast period. According to the Centers for Medicare & Medicaid Services, US healthcare spending accounted for USD 4.1 trillion in 2020, representing 19.7% of the nation's GDP.

Global Digital Pathology Market: Growth Drivers and Challenges

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 

The global digital pathology market is segmented and analyzed for demand and supply by end-user into hospitals, clinics, diagnostic & private laboratories and research centers. Among these segments, the hospital segment is anticipated to capture the largest market size in the global digital pathology market owing to the increasing adoption of digital imaging and scanning methodology in hospitals for quick treatment of patients. Furthermore, the increasing government initiatives to support medical hospitals along with the growing number of hospital visits across the world are expected to augment segment growth over the forecast period. For instance, nearly 800 outpatient visits occurred in United States in the year 2020.

Major Macro-Economic Indicators Impacting the Market Growth

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Digital Pathology Market Regional Synopsis

Regionally, the global digital pathology market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033 backed by the rising geriatric population in the region. It was estimated that the U.S. population aged above 65 years was recorded to be 54 million in the year 2019. Moreover, the increasing R&D investments, continuous government support for development in IT healthcare, growing acceptance of digital imaging, rising awareness of the early diagnosis of diseases among population and presence of key manufacturers in the region are expected to drive.

The global digital pathology market is further classified on the basis of region as follows:

• North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
• Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global digital pathology market includes the following segments:

Top Featured Companies Dominating the Global Digital Pathology Market

• ContextVision AB
  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis

• Leica Biosystems Nussloch GmbH
• GE Healthcare
• Ventana Medical Systems Inc.
• Hamamatsu Photonics K.K.
• Apollo Enterprise Imaging Corporation
• Xifin Inc.
• Definiens AG.
• Inspirata, Inc.
• 3DHISTECH Ltd.