The global digital pathology market size is expected to reach USD 1.44 billion by 2028 according to a new study by Polaris Market Research. The report “Digital Pathology Market Share, Size, Trends, Industry Analysis Report, By Application (Drug Discovery & Development, Academic Research, Disease Diagnosis); By End-Use (Hospitals, Biotech & Pharma Companies, Diagnostic Labs, Academic & Research Institutes); By Product; By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Advancements in micro-arrays and incorporation of predictive models using API algorithms and innovations in data analysis are expected to fuel the market growth for digital pathology. Rising preference towards computer-aided diagnosis which integrates image processing, mathematics, artificial intelligence, and machine learning to facilitate efficient disease diagnosis and helps in evaluating disease progression and risk assessment.
These benefits are projected to fuel demand in digital pathology systems in the forthcoming years. For instance, in April 2020, Leica Biosystems received approval for its Aperio AT2 DX Scanner and Web Viewer for remote diagnosis and Philips also received clearance for its IntelliSite Pathology services for remote diagnosis during emergencies.
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Market participants operating in the digital pathology industry include Apollo Enterprise Imaging Corp., 3DHISTECH Ltd., ContextVision AB., Danaher, Corista, Glencoe Software, Inc, Huron Digital Pathology, Hamamatsu Photonics, Inc., Indica Labs, Inspirata, Inc., Koninklijke Philips, KONFOONG BIOTECH INTERNATIONAL CO., LTD, Leica Biosystems Nussloch GmbH, Objective Pathology Services, Mikroscan Technologies, Olympus Corporation, Proscia Inc., OptraScan, Roche Ltd., Visiopharm A/S, Sectra AB, and XIFIN, Inc.
International players such as Danaher, Huron Digital, and Hamamatsu Photonics held a majority of the market share of digital pathology. Companies in the marketplace are engaged in new product launches, mergers & acquisitions, and collaboration with small software data analysis companies to reap more benefits. In this direction, Danaher Corporation to increase its footprint in Asia Pacific region in August 2020, introduced Aperio GT 450 DX.
Earlier, in September 2020, Philips helped in the digitization of histology slides at the U.S.-based Oxford University Hospitals for its pathology department. Moreover, previously in June 2018, Philips acquired Ireland-based Irish PathXL, one of the prominent players in image-based analysis. The acquisition was to integrate tools targeting different applications in image analysis, computational biology, and workflow solutions.
Polaris Market Research has segmented the digital pathology market report on the basis of product, end-use, application, and region:
Digital Pathology, Product Outlook (Revenue - USD Billion, 2016 - 2028)
Digital Pathology, Application Outlook (Revenue - USD Billion, 2016 - 2028)
Digital Pathology, End-Use Outlook (Revenue - USD Billion, 2016 - 2028)
Digital Pathology Market, by Regional Outlook (Revenue - USD Billion, 2016 - 2028)