The digital pathology market is estimated to grow at a CAGR of 12.5% during the forecast period from 2018 to 2025. The market for digital pathology is projected to reach US$ 992.14 Mn in 2025. Advancement in the equipment, teleconsultation & ease of transportation, rising prevalence of cancer, and increasing number of conferences & meetings to create awareness are the major factors primarily attributed to the growth of the market.
The prominent players operating in the digital pathology market include 3DHISTECH Ltd., Apollo Enterprise Imaging Corp., Huron Digital Pathology, Leica Biosystems Nussloch GmbH, Hamamatsu Photonics K.K., XIFIN, Inc., Ventana Medical Systems, Inc., Koninklijke Philips N.V., and Visiopharm, Indica Labs, Inc.
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Additionally, major players in this market are involved in research and development activities. These players have been upgrading their product portfolio by applying for approvals as well as launching new products. For instance, in July 2017, The 3D Histech launched the windows 10 compatible TMA control 2.7 SW, which can be applied for the complete tissue microarray (TMA) products. This update was aimed to aid in placing different samples into one paraffin block. In addition, it was also designed to save time & costs of tissue preparation, staining and slide preparation.
Digital pathology is an image-based information environment that aids in the management of information generated from a digital slide. A digital slide image file is then generated which enables the user for high resolution viewing, interpretation and image analysis of digital pathology slides. The digital slides can be shared within the laboratory or to the other laboratory by the integration of the internet. It helps the physician and patients to take another opinion about the diagnosis.
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In our study, we have segmented the digital pathology market by product, application and end user. Based on product, the market is segmented as storage systems, communication systems, software and scanners. Based on application, the market is segmented into teleconsultation /telepathology, disease diagnosis, drug discovery and training and education. On the basis of end user, the market is categorized as academic & research institutes, pharmaceutical & biotechnological companies and hospital laboratories. Geographically, the market for digital pathology is segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South and Central America (S&CAM).
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The market for digital pathology is well established in North American region, especially in the US and Canada. The market is expected to witness growth at a significant rate in Asia Pacific (APAC) region during the forecast period. The initiations and support by the government in China, growing cancer cases, focus by industry players in Japan, and developing healthcare infrastructure in India are likely to enhance the growth of the market during the forecast period. Thus, there is a vast potential for the digital pathology market to witness rapid growth in the coming years.
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