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The digital pathology market involves the digitization of whole slides through high-resolution scanners that convert glass slides into high-resolution, digital, high-quality images that can be examined, managed, shared and analyzed through software on computer screens and mobile digital devices. Digital pathology platforms provide pathologists with advanced features like simultaneous multi-user access, integrated viewers, automated digital image analysis, integrated AI and integrated diagnostic support. This enables more efficient collaboration and improved workflows in healthcare settings.
The Global Digital Pathology Market is estimated to be valued at US$ 994.95 Mn in 2024 and is expected to exhibit a CAGR of 12.% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the digital pathology market include Leica Biosystems Nussloch GmbH, Olympus Corporation, F. Hoffmann-La Roche Ltd., Merck KGaA, GE Healthcare, Mikroscan Technologies, Inc., Koninklijke Philips N.V., Sectra AB, Propath UK Limited, Inspirata, Inc., Hamamatsu Photonics, Inc., OracleBio Limited, MD Biosciences, Aiforia, Xybion Digital Inc., Nucleai, Inc. The increasing implementation of digital pathology solutions in pharmaceutical and life science research is driving the market growth. The increasing adoption of digital pathology in developed markets across North America and Europe is boosting the global expansion of the digital pathology market.
Market key trends
One of the major trends in the digital pathology market is the increasing integration of Artificial Intelligence (AI). AI has the potential to unlock enormous value in digital pathology by enabling automatic slide scanning, virtual slide creation, computer-assisted diagnosis, integrating with electronic health records and more. Several leading players are focusing on developing AI-powered digital pathology solutions to improve accuracy and efficiency of disease diagnosis. For example, propath UK limited launched Ezimo, an AI-powered medical device in 2021 that can accelerate digital pathology workflow and support primary diagnosis for the first time. This growing integration of AI with digital pathology solutions is expected to transform healthcare globally over the coming years.
Porter’s Analysis
Threat of new entrants: The Digital Pathology market requires a significant initial investment for R&D, which poses a barrier to new companies.
Bargaining power of buyers: Individual buyers have low bargaining power compared to larger groups and institutions in this business to consumer market.
Bargaining power of suppliers: A few major companies dominate the supply of Digital Pathology software and scanners, giving them strong bargaining power over buyers.
Threat of new substitutes: New technologies for computer-aided medical diagnosis could potentially substitute some Digital Pathology applications.
Competitive rivalry: Companies compete on the basis of product performance, features and pricing.
Geographical Regions
North America currently holds the largest share of the global Digital Pathology market, valued at over US$ 350 Mn in 2024 owing to advanced healthcare infrastructure and growing adoption among medical professionals in the region.
The Asia Pacific region is expected to experience the fastest growth during the forecast period, expanding at a CAGR of 15%, due to increasing investments by key players, rising medical tourism, and growing awareness about diagnostic advantages in countries such as China and India.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
