The global Digital Pathology Market size is expected to reach USD 1.74 billion by 2030, registering a CAGR of 7.5% over the forecast period, according to a new report by Grand View Research, Inc. Increasing prevalence of chronic diseases triggers the demand for advanced diagnostics, which is expected to drive the market growth. Growing economic stability and awareness about the benefits of the use of computer-aided diagnostics is further contributing to the market growth. As with other laboratory medicine disciplines, the COVID-19 pandemic has had a surprising impact on digital pathology. The pandemic has shortened all but the most serious surgeries and cancer treatments.
Thus,
histology laboratories are involved in the most difficult task of collecting
& analyzing tissue samples for the procedure. There was also a workforce
shortage with many pathologists staying out of the laboratory due to physical
distancing measures. Thus, altered rules allowed greater usage of digital
pathology along with the reading of the test results from remote settings,
which supported the overall market growth. During the pandemic, pathologists
had to continue working from home. This formed an unprecedented necessity for
home workplaces and protect clinical informatics solutions permitting
clinicians to read images remotely and allowing real-time virtual alliance
between their multi-disciplinary care teams.
Pre-COVID-19,
pathology laboratories that digitized their workflows across diverse sites
reported an average productivity gain of 21%. The COVID-19 pandemic augmented
the implementation of digital pathology for several reasons, such as changes in
regulatory requirements and governance. Technological advancements, such as
digital imaging, computerization, robotic light microscopy, and multiple fiber
optic communications are some of the key factors driving the adoption of
digital pathology. In addition, the introduction of cloud-based technology enabling
the storage of digital slides coupled with secure access to pathologists is
expected to serve as a potential growth driver for the market.
Moreover,
the use of Artificial Intelligence (AI)has proven to be more
effective than previous techniques used in identifying and evaluating
pathological characteristics in samples. The implementation of AI helps
accelerate & strengthen diagnosis and makes the process of drug discovery
more successful and cost-efficient. Moreover, by using data to verify diagnoses
made by pathologists, AI helps minimize error rates, as it can alert them if
the algorithms measuring their conclusion are not in accordance with what is
expected. This shows the potential demand for AI-based pathology solutions in
the coming years.
Digital
pathology has an important role in companion diagnostics and drug development
pipelines, including molecular biology, biobanking, molecular tissue profiling,
and tissue microarray analysis. Increasing demand for high-quality tissue
samples in tissue-based biomarker research is expected to propel the
adoption of the technology over the forecast period. The market is expected to
witness intense competition in near future owing to the rising adoption of
rigorous strategies by key players to sustain competition. For instance, whole
slide imaging system manufacturers focus on obtaining premarket approval for
diagnostic digital systems to capture a greater revenue share.
Related Press
Release@ Digital Pathology Market Report
Digital Pathology Market Report Highlights
- The device
segment held the dominant market share in 2021 owing to the increased use
in academic research on account of various benefits, such as
cost-effectiveness and rapid results
- The rising
implementation of slide management systems in stratified medicine and
tissue-based biomarker research is one of the key contributing factors for
the dominance of this technology
- The software
segment is expected to witness the fastest CAGR over the forecast years as
the product assists in faster diagnosis and synchronization of patient
data, where healthcare professionals can remotely access this information
- The disease
diagnosis segment is expected to witness the fastest CAGR over the
forecast period due to the increasing prevalence of cancer and demand for
noble diagnosis techniques
- The
availability of unified platforms for workflows in pathology is
anticipated to boost the usage of computer-aided imaging technology in
academic research, which is anticipated to boost the segment growth
- The market
is expected to remain innovation-led, with frequent acquisitions and
strategic alliances
- In October
2021, Philips introduced IntelliSite. It features a scalable group of
software tools and proficiencies that help streamline workflows, improve
diagnostic confidence, enable teamwork, integrate AI, and enhance the
efficiency of path labs
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