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As per the report published by The Brainy Insights, the global digital pathology market is expected to grow from USD 635.0 million in 2021 to USD 1290.6 million by 2030, at a CAGR of 8.2% during the forecast period 2022-2030. North America emerged as the largest market for the global digital pathology market, with a 42.2% share of the market revenue in 2021. The North American region currently dominates the digital pathology market due to the rising need for accurate and efficient results of disease diagnosis. The increasing geriatric population in the region that is susceptible to chronic conditions is also expected to propel the market growth of digital pathology.
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Leading companies in the industry include 3DHISTECH, Corista, Aiforia Technologies Oy, Akoya Biosciences, OptraSCAN, Glencoe Software, QProscia Inc, Kanteron Systems, Mikroscan Technologies, and OptraSCAN, among others which are offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
The product type segment is divided into software, scanners, and storage & communication systems. The scanner segment dominated the market, with a market share of around 42% in 2021. Scanners are rapidly being used in disease diagnosis as they are easy to operate and provide accurate results. This is helping in the growth of the scanners market. The application segment is divided into training & education, disease diagnosis, teleconsultation, and drug discovery. Over the forecast period, the drug discovery segment is expected to grow at the fastest CAGR of 9.3%. Drug discovery is being used for creating drugs of diseases such as cancer and chronic diseases which require accurate test results of the disease diagnosis and is driving the market growth. The end-user segment is divided into clinical, educational, and pharma & biotech companies. In 2021, the pharma & biotech companies segment accounted for the largest share of the market, with 43% and a market revenue of 273.05 million. As the cases of cancer increase, the need for diagnosis increases. Digital pathology helps in the diagnosis of diseases, and pharmaceutical companies customize drugs for curing the diseases with maximum treatment accuracy. The rising demand for accurate lab results for drug development is drives the market growth in pharma & biotech companies.
The rising demand for efficient lab results for drug discovery and customization of medicines to treat chronic diseases is helping in the market’s growth. The increasing incidences of cancer and the growing application of digital pathology have a positive impact on the market’s growth. However, the high cost of digital pathology, along with a shortage of trained pathologists, hampers the market growth.
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About the report:
The global digital pathology market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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