Digital Pathology MarketSize and Trends

Global Digital Pathology Market is estimated to be valued at US$ 884.4 million in 2023 and is expected to exhibit a CAGR of 12.2% during the forecast period (2023-2030). Increase in product launches by market players is expected to drive the market words over forecast period. Moreover, increase in number of government initiatives is expected to drive the market growth.

Figure 1. Global Digital Pathology Market Share (%), By Product Type, 2023

Market Trends

Increasing number of product launches by market players can boost the market growth over forecast period. For instance, in November 2022, Nucleai, Inc., a software and AI-powered spatial biology solution providing company, launched the new generation of multiplex immunofluorescence (mIF) analysis system. The newly launched multiplex immunofluorescence (mIF) analysis system provides increased levels of speed and accuracy for drug discovery and development.

Global Digital Pathology Market- Driver

Rising Government Initiatives

Increasing initiatives by government bodies such as loosening restrictions on digital pathology software-hardware approvals and others is expected to offer lucrative growth opportunities. For instance, in April 2020, the U.S. Food and Drug Administration (FDA) issued a waiver permitting pathologists to perform primary readings from their homes and loosening restrictions on software-hardware approvals. This resulted in an increase of digital clinical pathology implementation.

Increasing Technological Advancements in Digital Pathology Systems

Digital pathology offers a better viewing experience, which enhances analysis. This lowers diagnostic error rates. These tools additionally provide service providers immediate access to earlier cases for comparison. These advanced systems store data for use in long-term predictive analysis. Specimens are barcoded to reduce the chance of misidentification. Also, this removes concerns about lost data due to slide breakage. Increasing technological advancements in digital pathology systems is expected to drive the market growth over the forecast period. For instance, according to an article published by Visceral Medicine Journal in 2021, digital pathology has technological advancement from artificial intelligence to label-free imaging. The use of artificial intelligence in digital pathology is growing along with the development of slide scanners, the abundance of data produced, and ever-increasing computing power.

Global Digital Pathology Market - Market Trends

Increase in product launches by market players is expected to drive the market words over forecast period. Moreover, increase in number of government initiatives is expected to drive the market growth.