October, 2024
Danaher Corporation is one of the most important companies in this industry. In 2023, it generated overall revenue of US$ 23,890 million. The firm is a prominent player in the digital pathology market, which involves developing hardware and software for use in digital imaging to derive pathological information. The main types of digital pathology are human pathology and veterinary pathology. The growing developments in drug discovery and precision medicine are anticipated to boost market growth. This market is driven by the rising cases of cancer worldwide. Additionally, the rise in biotech companies and diagnostic labs is boosting the growth of the digital pathology market.
The digital pathology market is highly fragmented, with various players such as F. Hoffmann-La Roche, Philips, Danaher Corporation, and others. F. Hoffmann-La Roche is a leading company in this market, with revenue of US$1602.2 million from the pathology lab segment in 2023. Philips is another major player in this industry, generating revenue of around US$9,547.29 million from the diagnosis and treatment segment in 2023. In January 2024, BIOS Health announced a partnership with Bakersfield to open a precision medicine center in the U.S.
The advancement in molecular fluorescence tagging techniques is expected to create opportunities for market players in the upcoming days. In September 2024, Roche launched an AI-enabled digital pathology platform designed to help pathologists and scientists in cancer research and diagnosis.
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