Report : South & Central America Digital Pathology Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Scanners, Software, Storage, and Communication Systems), Type (Human Pathology and Veterinary Pathology), Application (Drug Discovery, Disease Diagnostics, Teleconsultation, and Training & Education), and End User (Pharma and Biotech Companies, Hospitals, and Academics)
At 9.8% CAGR, the South & Central America Digital Pathology Market is speculated to be worth US$ 124.38 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America digital pathology market was valued at US$ 64.74 million in 2022 and is expected to reach US$ 124.38 million by 2028, registering an annual growth rate of 9.8% from 2022 to 2028. Technological advancements in digital pathology systems, growing preference for telepathology in remote areas and digital pathology for cancer are the critical factors attributed to the market expansion.
Computerization, robotic light microscopy, multiple fiber-optic communications, and digital imaging are among the technologies contributing to the modernization of digital pathology. Healthcare information technology (IT) helps physicians in maintaining optimal workflow, along with allowing them to meet the continuously changing patient expectations. The Aperio ePathAccess software offered by Leica Biosystems enables users to share digital pathology images and case data with experts outside the IT network. Further, frequent advancements in whole-slide imaging (WSI) technology, software applications, LIS/LIMS interface, and high-speed networking are allowing pathologists to fully integrate digital pathology into their workflows. Further, the growing use of microarrays and predictive models, such as API algorithms and hybrid models, is bolstering the demand for digital image analysis. A computer-aided diagnosis integrates image processing with the concepts of physics and mathematics, and computational algorithms for disease diagnosis, anatomical evaluation, and disease progression quantification and risk assessment. Thus, the increasing popularity of computer-aided systems is supporting the digital pathology market growth.
On the contrary, high cost of digital pathology systems hampers market South & Central America digital pathology market.
- Based on product, the market is segmented into scanners, software, storage and communication systems. The scanners segment held 55.40% market share in 2022, amassing US$ 35.87 million. It is projected to garner US$ 68.12 million by 2028 to expand at 11.3% CAGR during 2022–2028.
- Based on type, the market is segmented into human pathology, and veterinary pathology. The human pathology segment held 66.22% market share in 2022, amassing US$ 42.87 million. It is projected to garner US$ 84.10 million by 2028 to expand at 11.9% CAGR during 2022–2028.
- Based on application, the market is segmented into drug discovery, disease diagnostics, teleconsultation, and training & education. The drug discovery segment held 37.16% market share in 2022, amassing US$ 24.05 million. It is projected to garner US$ 47.37 million by 2028 to expand at 12.0% CAGR during 2022–2028.
- Based on end user, the market is segmented into pharma and biotech companies, hospital, and academic. The pharma and biotech companies segment held 53.59% market share in 2022, amassing US$ 34.69 million. It is projected to garner US$ 67.89 million by 2028 to expand at 11.8% CAGR during 2022–2028.
- Based on country, the South & Central America digital pathology market has been categorized into Brazil, Argentina, and Rest of South & Central America. Our regional analysis states Brazil captured 62.13% market share in 2022. It was assessed at US$ 40.22 million in 2022 and is likely to hit US$ 78.49 million by 2028, exhibiting a CAGR of 11.8% during the forecast period.
Key players dominating the South & Central America digital pathology market are KoninklijkePhilipsN.V.; NikonCorporation;PerkinElmer,Inc.;3DHISTECHLtd.;HamamatsuPhotonics K.K.;F.Hoffmann-La RocheLtd;Visiopharm A/S;Glencoe Software, Inc.and; Danaher Corporation.
- In July,2022; F. Hoffmann-La Roche Ltd launched its high-capacity slide scanner, VENTANA DP 600 which produces high-resolution, digital images of stained tissue samples to help in the diagnosis of cancer and determine a patient’s treatment. The technologically advanced product has empowered the digital transformation of pathology and enable better, more personalized healthcare.
- In October,2021; Koninklijke Philips N.V. launched its next-generation digital pathology solution, IntelliSite to assist pathologists in diagnosing and creating care pathways.
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