The global digital pathology market is projected to reach USD 756.1 Million by 2022 from USD 423.1 Million in 2017, at a CAGR of 12.3%.
The key factors propelling the growth of this market include increasing initiatives by governments and industry players, ease of consultation, increasing adoption of digital pathology to enhance lab efficiency, rising prevalence of cancer, and growing applications of digital pathology in drug development and companion diagnostics.
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On the basis of product, the market is categorized into scanners, software, communication systems, and storage systems. The software segment is projected to witness the highest growth rate in the forecast period, due to the availability of user-friendly, analytical, and advanced functions for Pathology diagnosis.
On the basis of type, the Digital Pathology Market is segmented into human and veterinary pathology. The human pathology segment is expected to account for the largest share of the market in 2017. The increasing number of cancer research activities and growing collaborations between academic research institutes, universities, and pathology laboratories are driving the increased uptake of digital systems in human pathology.
On the basis of end user, the global digital pathology market has been segmented into pharmaceutical and biotechnology companies, hospitals and reference laboratories, and academic & research institutes. The pharmaceutical and biotechnology companies segment is estimated to account for the largest share of the global market in 2017. Key factors driving the growth of this segment is the usage digital pathology for biobanking, biopharmaceutical studies, and molecular assays.