Digital Pathology Market by Product (Artificial Intelligence, Scanner, Software, Storage), Type (Human, Veterinary), Application (Teleconsultation, Training, Disease Diagnosis, Drug Discovery), End User (Pharma, Academia, Hospitals) – Global Forecast to 2026” The Global Digital Pathology market is projected to reach USD 1,371 million by 2026 from USD 736 million in 2021, at a CAGR of 13.2% during the forecast period. The growth in the digital pathology market is mainly driven by factors such as the increasing adoption of digital pathology to enhance lab efficiency, rising incidence of cancer, and growing applications of digital pathology in drug development and companion diagnostics. On the other hand, the high costs of digital pathology systems are expected to restrain market growth to a certain extent.
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The growth of this market is driven by the increasing consumer preference toward buying online medicines during and post the COVID-19 pandemic, consolidation in the market and partnerships, and the growing geriatric population.
However, patients relying on pharmacists for clinical support and a growing number of illegal pharmacies are expected to restrain the growth of this market during the forecast period.
Key Player
Prominent players in this market are CVS Health (US), Cigna (US), Optum, Inc. (Part of the UnitedHealth Group) (US), Walgreens Co. (US), Walmart Inc. (US), The Kroger Co. (US), Amazon.com, Inc. (US), GoodRx (US), Costco Wholesale Corporation (US), Rite Aid Corp. (US), Hims & Hers Health, Inc. (US), PharmEasy (India), Apollo Pharmacy (India), DocMorris (Netherlands), Giant Eagle Inc. (US), LloydsPharmacy (UK), Shop-apotheke.com (Netherlands), Tata 1mg (India), Netmeds.com (India), HealthWarehouse, Inc. (US), Pharmex Direct Inc. (Canada), Apex Pharmacy (UK), TELUS (Canada), RO Pharmacy (US), Rx Outreach (US), The Independent Pharmacy (UK), Rexall Pharmacy Group ULC (Canada), and NorthWestPharmacy.com (Canada). These players are increasingly focusing on product/service upgrades, acquisitions, partnerships, agreements, expansions, and collaborations to expand their product offerings in the digital pharmacy market.
Leica Biosystems (US): In 2020, Leica Biosystems was the largest player in the digital pathology market. The large share of this company can be attributed to its strong suite of scanners and software. Moreover, the company has a strong geographic presence across the globe. It focuses on product launches to create a strong foothold in the market. In 2019, Leica Biosystems launched the Aperio GT 450, a next-generation digital pathology scanner. Similarly, in 2018, the company received approval for its scanner, Aperio LV1 IVD, to be sold in Europe, Canada, Australia, and New Zealand.
Koninklijke Philips N.V. (Netherlands): In 2020, Philips was the second-largest player in the digital pathology market. The company offers scanners, software, communication systems, and storage systems for digital pathology. The company focuses on intelligent, integrated solutions (AI-enabled suites of systems, smart devices, software, and services) that help healthcare providers meet clinical, operational, and financial goals. Philips supports clinicians in precision diagnosis by integrating multiple sources of information across imaging, pathology, and genomics to create a comprehensive single-patient view.
Philips strategically focuses on collaborating and partnering with other market players to launch technologically advanced products and expand globally. In line with this, the company collaborated with Paige (US) to deliver AI-based clinical pathology diagnostic solutions in 2019. This collaboration is expected to deliver clinical-grade AI applications to pathology laboratories. Similarly, in 2017, the company partnered with PathAI (US) to jointly develop solutions to improve the precision and accuracy of the routine diagnosis of cancer and other diseases. This partnership enabled Philips to apply AI to massive pathology data sets for informed diagnostic and treatment decisions.
Hamamatsu Photonics (Japan): In 2020, Hamamatsu Photonics was the third-largest player in the digital pathology market. The company is a leading provider of photoelectron conversion technologies. It offers 90 types of image sensors, light sources, components, and systems with capabilities that span the spectrum from X-ray to infrared. In the year 2020, Hamamatsu invested 8.7% of its total revenue in R&D activities. It geographically operates across the Americas, Europe, and Asia. The company has 17 subsidiaries operating across the US, Japan, China, Germany, France, Sweden, Italy, and the UK.
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The market in North America is projected to witness the highest growth rate during the forecast period (2021–2026).
North America accounted for the largest share of the digital pathology market in 2020. The increasing prevalence of cancer, rising demand for quality diagnostics, the introduction of favorable reimbursement policies, and the implementation of favorable initiatives by the governments in the US and Canada are major factors driving the growth of the digital pathology market in North America.
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