Digital Pathology Revolution: How Big Data & ML are reshaping healthcare

New Delhi: According to Future Market Insights, the global market for digital pathology is expected to reach US$ 6,199 Million by 2022. According to the forecast, the market for digital pathology products and services will reach US$ 22,870.2 Million by 2032, growing at a rate of 13.5% over the forecast period.

With technological innovations and the proliferation of electronic medical records in the healthcare sector, digital pathology solutions are becoming increasingly popular in the market. Cloud-based information systems are expected to rise at a CAGR of 16.9% through 2032, while on premise systems will remain dominant at US$ 626.8 Million.

The concept of digital pathology, as well as virtual microscopy, is one of the most common terms used in contemporary pathology today. Digital pathology, also called ‘virtual microscopy,’ is an image-based environment that enables pathology information to be acquired, managed, and interpreted based on digitized glass slides. The use of digital pathology is becoming increasingly common in the treatment of chronic and infectious diseases, such as cancer, cardiovascular disease, and hepatitis.

There has been a surge in projects aimed at promoting affordable digital pathology systems in the market. As a result of increased teleconsultations, the global digital pathology market is expected to grow significantly over the forecast period. As a growing technology, digital pathology is supporting human pathology practice, drug discovery, and tissue-based research in the medical field.

Digital Pathology Market Analysis

As per Future Market Insights (FMI), the digital pathology market grew at a CAGR of 10% from 2016 to 2021. In emerging economies, digital pathology devices are increasingly being adopted to improve the quality of healthcare services and add to the growth of the industry.

It was estimated that the global market for digital pathology reached US$ 5.54 Billion in 2021. Forecasts indicate that the market will grow at a CAGR of 13.5% from 2022 to 2032. It is anticipated that the growth of digital pathology devices throughout the globe will be driven by increased spending on e-health devices and an increased focus on cancer research over the next few years.

Digital pathology manufacturers are now concentrating on integrating their solutions with cloud applications and are working with cloud service providers to offer their clients data reading, scanning, and sharing capabilities through the cloud. With consumers proactively examining their bodies for health issues, the digital pathology market is expected to grow in the forecast period.

Factors Driving Digital Pathology Market Growth?

As chronic diseases are becoming more prevalent, early diagnosis of these diseases is expected to boost market growth over the forecast period. In the coming years, digital pathology in the market is expected to grow due to the development of affordable scanners and other equipment in the market. As cancer rates increase, digital pathology devices are being purchased more frequently in the market. Late diagnosis of cancer is resulting in complications, especially in cases of blood cancers and lung cancers, which necessitate large capital resources.

Digital pathology has proven to be an effective tool in scientific research, as evidenced by the increased demand for these systems in the cancer research sector. The advent of digital pathology systems for clinical diagnostic applications is also attracting the attention of government investors in the market.

Digital pathology has experienced significant growth in recent years as more funding has been allocated to biosimilar research and development programs, particularly for cancer and COVID-19 treatments. The need for digital pathology devices to diagnose, research, and invent effective healthcare solutions is increasing as various companies improve their methods to provide more cost-effective solutions to clients in the market.

Factors are Restraining Growth for Digital Pathology Products in the Market?

Usually, low-income countries are afflicted with a high cost of digital pathology services, which is one of the main factors limiting the growth of this market. For small laboratories, digital pathology may not be a viable option due to the high cost of maintenance and training. This could further hamper the growth of the market.

Commercial sale of digital pathology products is hampered by the lack of standardized regulatory guidance. Among the USA guidelines, there are specific instructions that indicate digital pathology services should only be used for research and development purposes. Regulatory guidelines like these significantly slow down market growth for digital pathology products in the market.

Country-wise Insights

How is the Digital Pathology Market Trending in North America?

North America is expected to hold the largest share of the digital pathology market. The increasing prevalence of cancer and rising demand for quality diagnostics are propelling the market growth for the digital pathology market in this region. Government initiatives in the USA and Canada, and favourable reimbursement policies, are driving the market growth for digital pathology in this region.

Globally, the USA holds a 36% market share in the digital pathology market. Digital imaging methods, increasing adoption of advanced technology, and the presence of established players in the region offer manufacturers key opportunities to develop innovative products in the market. A large portion of the USA economy is devoted to research and development in the healthcare sector.

Government initiatives supporting technological advancements and the growing adoption of digital imaging have contributed to the market growth in this region. With digital pathology improving the quality of cancer diagnosis in the USA, growth in the regional market is expected to continue.

What are the Factors Driving Sales for Digital Pathology in Europe?

On a global scale, Europe had the second largest market share for the digital pathology market. The growing geriatric population and increasing demand for digital tools in the healthcare sector are expected to drive the growth of the digital pathology market in this region.

It is estimated that Germany will account for over 20% of the European market by 2022. According to the guidelines proposed by the German Association of Pathologists, the country has strict guidelines that must be followed for these procedures in the healthcare sector. IT experts, pathologists, and researchers all need to use this data for operational purposes.

Due to its mature healthcare sector, Germany holds a prime position in the EU for pathology services due to the science in pathology laboratories. Regions with high cancer and chronic condition prevalence are likely to grow in this country. These factors will further boost the market for digital pathology in this region.

Competitive Landscape

• In October 2022, Pramana, a company that enables health technology through artificial intelligence, showcased its Digital Pathology as a Service (DPaaS) solution and introduced Digital Pathology 2.0. The company will be exhibiting at the Pathology Visions Annual Meeting in Las Vegas from Oct. 16-18 (booth #319). At the meeting, Pramana will also present two posters on the power of its whole slide imaging (WSI) process. The Pramana DPaaS offers pathology laboratories a seamless, cost-effective, and high-quality digital image of pathology slides by eliminating the operations hassles.

• In October 2022, Proscia launched its new digital pathology platform which is poised to transform the way diseases are diagnosed. As part of its expansion into primary diagnostic workflows, Concentriq® Dx released its next version, which is CE-marked for IVDR compliance. Even the largest laboratory networks will benefit from the new features and the compelling user experience included with the release. This will ultimately enable pathology to move away from microscopes.

These insights are based on a report Digital Pathology Market by Future Market Insights.