PUBLISHER: Grand View Research | PRODUCT CODE: 1363525
PUBLISHER: Grand View Research | PRODUCT CODE: 1363525
The U.S and Europe digital pathology market size is expected to reach USD 994.0 million by 2030, registering a CAGR of 7.2% over the forecast period, according to a new study by Grand View Research, Inc.. Digital pathology encompasses the capture, organization, dissemination, and analysis of pathology data and slides within a digital framework.Digital pathology enables high-resolution imaging and advanced visualization tools, allowing pathologists to examine tissue samples in greater detail. This leads to more accurate and precise diagnoses, especially for complex or rare cases. New digital pathology technologies are developing to enhance the communication between the collection of samples and the creation of pathology reports with updated data.
One such technology is Multiplexing. It is a cutting-edge technique for locating or quantifying several proteins in a single material. The discipline of digital pathology is projected to undergo a revolution as a result of the incorporation of cutting-edge multiplexing techniques, such as automated multispectral slide imaging. Some of the other techniques include the use of automated molecular fluorescent tagging and imaging systems, merging qdots with multispectral imaging, etc. The use of these cutting-edge imaging techniques in digital pathology has the potential to raise diagnostic precision, decrease workloads, boost productivity, and more effectively integrate digital pictures into information systems, thereby driving the market. Furthermore, various initiatives are been undertaken to promote and integrate digital pathology into the healthcare systems.
These initiatives are aimed at leveraging technology for improved patient care, research, and education. For instance, in March 2022, the National Pathology Imaging Co-operative (NPIC) created prospects for NHS trusts across the nation to transition to digital pathology, thereby enhancing patient diagnoses. This initiative is fueled by recent funding and the broader implementation of Sectra's digital pathology solution and Vendor Neutral Archive (VNA). Furthermore, prominent players are focusing on various strategies, including partnerships, novel product innovations, research collaborations, and mergers and acquisitions, as avenues to gain a competitive edge. For instance, in July 2020, Paige, a player in computational pathology, obtained clearance from the U.S. FDA (510(k)) for its FullFocus digital pathology image viewer designed for primary diagnoses.
This clearance authorized the in vitro diagnostic (IVD) application of FullFocus, in conjunction with Philips' Ultra-Fast Scanner. In August 2023, Paige entered into a collaborative effort with Ohio State University Wexner Medical Center and its associated community hospitals. This collaboration involves a multi-arm study to assess the clinical utility, health economics, and impact on accuracy, efficiency, and cost savings of utilizing AI tools in diagnosing cancer within a community hospital environment. OSWMC will deploy the Paige Prostate Suite, which includes the FDA-approved AI-powered pathology algorithm known as Paige Prostate Detect. The study aims to evaluate disparities between diagnoses made with and without AI assistance. Such initiatives are expected to fuel the market growth over a forecast period.