Digital Pathology Market size is anticipated to reach USD 2.4 Billion by the end of 2033, growing at a CAGR of 11% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of digital pathology was over USD 1.02 Billion. 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.
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 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.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
11% |
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Base Year Market Size (2022) |
USD 1.029 Billion |
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Forecast Year Market Size (2033) |
USD 2.450 Billion |
End-user (Hospitals, Clinics, Diagnostic & Private Laboratories, Research Centers)
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.
Our in-depth analysis of the global market includes the following segments:
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By Component Type |
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By Application |
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By End User |
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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.
Author Credits: Radhika Gupta, Shivam Bhutani
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