Digital Pathology Market Trends

Growth Drivers

• Surge in Incidence of Cardiovascular Diseases (CVDs) Around the World- As per the data from World Health Organization, a global estimate of 17.9 million people died from cardiovascular diseases in 2019, accounting for 32% of all deaths.
• As chronic conditions become more prevalent, digital pathology is expected to become more essential to treat patients, improve diagnostic performance, and reduce the high cost of conventional diagnostics. Chronic diseases are associated with high mortality rates. Cardiovascular Diseases (CVDs) are highly prevalent, which makes advanced diagnostic and imaging procedures necessary. 
• Increasing Number of Laboratory Tests Performed Worldwide- According to the Centers for Disease Control and Prevention, a total of 14 billion laboratory tests are ordered each year. Lab test results are crucial to 70% of medical decisions, demonstrating the vital role clinical laboratories play in healthcare.
• Rise in the Number of Drug Discovery Trials - According to research that was conducted, over 13% of clinical drug trials have been approved by the FDA in 2018, an increase from 2017
• Increase in Exports of Automatic Data Processing Machines - The International Trade Center (Trademap) reports that the value of exports of automatic data processing machines in China in 2021 was USD 8,506,449 thousand, an increase from USD 7,397,894 thousand the previous year.
• Rapid Adoption of AI Tools in Healthcare- For instance, the demand for artificial intelligence (AI)-based solutions is anticipated to rise by over 48% among healthcare organizations.

Challenges

• Higher Maintenance Cost
• Un-Availability Of Skilled Manpower 
• High Cost Associated With Integration And Implementation Of Hardware & Software