The digital pathology market is set to grow at a 13.5% CAGR by 2031, driven by cloud integration and innovation. Key regions include Canada and the UK.
The digital pathology market has witnessed notable changes in terms of product innovation. One of the major reasons behind this is the scope of cloud integration with pathology outcomes in laboratory operations. According to a recent report by Future Market Insights, the global digital pathology market was valued at USD 6.19 Bn in 2021 and is expected to witness a CAGR of 13.5% during the forecast period (2021 – 2031). The scope of digital pathology with cloud integration has expanded with promising potential for numerous therapies in the healthcare industry including anti-cancer treatments. Innovation in terms of product efficiency, capabilities, and other modalities drives growth in the digital pathology market.
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A number of modern hospitals are installing newly modified digital pathology systems for their laboratories which has widened the consumer base of the market globally. Manufacturers of digital pathology solutions are constantly making changes in software, to enhance the capabilities and efficacies of digital pathology devices.
This development will provide easy access to information such as images, and will also cater to specialized needs. In 2017, Glencoe Software Inc., launched a software named Path Viewer, which is used in interactive viewing and annotation of digital pathology images.
In Jan 2018, Definiens AG released Tissue Studio 4.2 software package. The updated product suite provided improved image analysis for researchers in academic medical laboratories, comprehensive cancer diagnostic and treatment centers, biotechnology, and pharmaceutical companies.
Key Takeaways of Digital Pathology Market Study
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“Growing research and development initiatives aimed towards cancer diagnosis and treatment are key factors expected to provide major growth opportunities for the digital pathology market through the end of 2031,” says the FMI Analyst.
Who is Winning?
Leading players in the market are largely focused on product development launches in addition to investing in strategic acquisitions and capacity expansions, to explore previously untapped markets.
Some the prominent players in the digital pathology market are Danaher Corporation, F. Hoffmann-La Roche AG, Huron Technologies International Inc., Koninklijke Philips N.V., Olympus Corporation, Hamamatsu Photonics K.K., Carl Zeiss, 3D HISTECH Ltd.
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Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2029. The study provides compelling insights on digital pathology market on basis of component type (systems, software, and services), application (clinical pathology, molecular diagnostics, basic & applied research, drug development, others) and end users (hospitals, diagnostic laboratories, pharmaceutical & biotechnology companies, forensic laboratories, research institutes, contract research organizations, and clinics across seven major regions.
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About the Healthcare Division at Future Market Insights
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The article discusses the growth and innovation in the digital pathology market, with a focus on cloud integration and product development.
The digital pathology market is expected to grow at a CAGR of 13.5% from 2021 to 2031.
Canada and the UK are highlighted as key regions for growth in the digital pathology market.
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