Absolute Markets Insights (AMI) reports a robust growth forecast for the global digital pathology market during the forecast period (2021 – 2029). In its newly released report, AMI anticipates that the market will grow at 10.1% as growing applications of digital pathology are rapidly leading the market towards growth. AMI reports that the market stood at a valuation of US $ 823.38 Mn in 2020.
Digital pathology is defined as the mechanical process of digitizing glass slides. The digital images are analyzed via an image viewer, which is usually a computer monitor or mobile device. Working just like a traditional standard light microscope, an image viewer enables pathologists to move slides around when required. With technological advancements for pathology lab efficiency, workflow, and revenue enhancements, digital pathology offers more accuracy regarding diagnosis. Rapid investments into digital pathology systems and solutions is accelerating the growth of digital pathology market. For instance, in August 2021, Swiss company, Unilabs entered into a partnership with Tel Aviv, Israel-based Ibex Medical Analytics. The purpose of this partnership is to deploy Ibex’s multi-tissue artificial intelligence (AI)-powered Galen platform across 16 European nations.
Request for Sample Copy of This Report@ https://www.absolutemarketsinsights.com/request_sample.php?id=914
Increasing number of patients diagnosed with cancer is playing an important role in the global digital pathology market growth because today digital pathology is considered as one of the most promising areas of diagnostic medicine. Digital pathology possess the ability to achieve accurate, feasible and faster diagnosis as well as prognosis. It can also predict cancer and other important ailments, along with detecting cancer in cancer patients who are unaware. Other factors contributing to the market growth include ease of consultation, increasing interventions by governments in research related to digital pathology, increasing initiatives by major market players to contribute to digital pathology with latest technology, and increasing implementation of digital pathology to boost lab efficiency.
Digital pathology is enabling pathologists to work together on cases, and also enhance the accuracy of diagnostic techniques. Before the China-originated coronavirus pandemic, the adoption of digital pathology in the United States of America lagged behind most of the other developed countries. Responding to the COVID-19 pandemic, the U.S. Food and Drug Administration (FDA) relaxed some of its guidelines regarding the approval as well as validation of technology related to digital pathology. This change was meant to enable more flexibility for pathologists to work from home during the public health emergency. Likewise, the Clinical Laboratory Improvement Amendments (CLIA) were also relaxed by the Centers for Disease Control and Prevention (CDC) so that the COVID-19 waivers could be included and allow digital pathology platforms to be used by pathologists from home. Increasing number of COVID-19 cases in USA created huge pressure on American healthcare system. Pathology is being commonly used for detecting what kind of virus is infecting a patient's body. Hence, the growth of digital pathology market is anticipated to further enhance over the period of next eight years.
In September 2021, MMJ Group Holdings Ltd invested in an integrated digital health and pathology company called, Brainworks Foundry Inc. in USA to boost the reach of COVID testing process. Using deoxyribonucleic acid (DNA) barcoding, Brainworks has designed a highly scalable polymerase chain reaction (PCR) testing process, which can remarkably reduce the cost and turnaround time of next-generation gene-sequencer analysis for coronavirus samples. After receiving an Emergency Use Approval from the US FDA, this testing process was first deployed for COVID-19 PCR testing in October 2020.
Introduction of affordable scanners for private pathology practices showcases substantial opportunity for the growth of global digital pathology market. In April 2021, an end-to-end digital pathology solution provider, OptraSCAN launched OS-Ultra 320, first-ever affordable high-speed digital pathology scanner in the world.
Enquiry Before Buying@ https://www.absolutemarketsinsights.com/enquiry_before_buying.php?id=914
Human pathology held the largest market in 2020
According to Absolute Market Insights report, human pathology held the larger market share in the global digital pathology market and this category will remain the fastest growing category during forecast period in the global digital pathology market. In September 2021, Crosscope, an AI software provider in digital pathology collaborated with a high-tech whole slide imaging pathology scanner manufacturer, NINGBO KONFOONG BIOINFORMATION TECH CO.,LTD. (KFBIO). The purpose of this collaboration is to ensure that Crosscope can supply a wide range of Whole Slide Imaging Digital Pathology scanners that have state-of-the-art technology, all over Indian market.
Digital Pathology Software to Grow Rapidly over the Forecast Period (2021 – 2029)
The software category has been segmented into pathology management system, laboratory information system, and others. Due to technological advancements, the expansion of digital slide scanners usage in terms of accuracy and scope is covering several fields of pathology. The use of software is increasing due to increasing role of AI, deep learning systems (DLS), and machine learning (ML) for automated image analysis. The entry of various startups in developing digital pathology software solutions is boosting the segment’s growth in the global market. Pathology management systems include comprehensive digital pathology software solutions such as eSlide managers that are meant to provide efficient management of whole slides and integrated case information. Systems such as GT 450 DX System can increase throughput in high volume clinical pathology labs in order to scale up digital pathology operations. Pathology management systems can manage workflow, and information technology (IT) expertise to integrate digital pathology in the operations of medical institutions.
Laboratory information systems can be used to manage good manufacturing practice (GMP)-compliant process flows as well as non-GMP-compliant process flows. Users can track equipment as well as control related activities such as calibration and preventative maintenance. Users can also reduce operational risk and increase compliance. Automated reporting is an important feature of laboratory information systems that allows users to quickly track nonconformances. These systems unify lab environments and support end-to-end business process management (BPM) so that increased compliance and productivity can be delivered.
Digital Pathology was heavily used for Drug Discovery in 2020
According to Absolute Market Insights report, drug discovery segment held the largest market share in 2020. This category was largest in the application segment due to growth in research & development (R&D) expenditure and the increasing need for numerous preclinical as well as clinical studies related to pathology that were performed during the drug discovery and development process.
Pharmaceutical and Biotechnology Companies to be the biggest end users during the Forecast Period (2021 – 2029)
The pharmaceutical and biotechnology companies are expected to be the fastest growing category due to the increasing use of digital pathology procedures for drug discovery studies and drug toxicology testing. In September 2021, Agilent joined hands with Visiopharm for supplying pathology solutions. Agilent also expanded its presence in the pharmaceutical space by introducing the Agilent 8697 headspace sampler with integrated gas chromatography communication.
Government initiatives kept the market strong in the North America Region in 2020
AMI reports that the global digital pathology market in North America region was the largest regional market in 2020 due to increasing prevalence of cancer, presence of key market players, introduction of favorable reimbursement policies, strong economy, availability of advanced medical sector, and increasing investment in R&D in healthcare sector. The implementation of favorable initiatives by the government in the Canada and USA are also boosting the market in this region. Other factors contributing to the market growth include high adoption of telemedicine services and ease of obtaining early diagnosis.
Some key players in the global digital pathology market are 3DHISTECH Ltd., Apollo Enterprise Imaging Corp., Corista, F. Hoffmann-La Roche Ltd, Hamamatsu Photonics K.K., Halo AP, Huron Technologies International Inc., Indica Labs, Koninklijke Philips N.V., Leica Biosystems Nussloch GmbH, OLYMPUS CORPORATION, OptraSCAN Inc., Proscia Inc., Sectra AB, Visiopharm A/S., and XIFIN Inc., amongst other market participants.
Request for Customization@ https://www.absolutemarketsinsights.com/request_for_customization.php?id=914
Global Digital Pathology Market:
- By Type
- Human
- Veterinary
- By Offering
- Software
- Pathology Management System
- Laboratory Information System
- Others
- Hardware
- Diagnostic Scanners
- Laboratory Components
- Histology equipment
- Others
- Support and Technical services
- Others
- By Application
- Drug Discovery
- Disease Diagnosis
- Teleconsultation
- Training & Education
- Others
- By End Users
- Research Institutions
- Pathology Laboratories
- Pharmaceutical and Biotechnology Companies
- Contract Research Organizations
- Academic Medical Centers (Education)
- Clinical Labs
- Geology
- Hospitals
- Others
- By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Get More Information@ https://www.absolutemarketsinsights.com/reports/Digital-Pathology-Market-2021---2029-914
Contact Us:
Company: Absolute Markets Insights
Email id: [email protected]
Phone: +91-740-024-2424
Contact Name: Shreyas Tanna
The Work Lab,Model Colony, Shivajinagar, Pune, MH, 411016
Website: https://www.absolutemarketsinsights.com/