According to the new report, published by Grand View Research Inc., the global Digital Pathology Market is expected to reach USD 1.86 billion and estimated to develop at 11.8% CAGR, from 2020 to 2027.
Better concentration on improving the effectiveness of the workflow and the need of quick tools of diagnosis for the persistent diseases such as cancer are the most important factors, powering the development of the market for digital pathology. Increasing occurrence of persistent circumstances is expected to trigger the medical importance and take on the digital pathology to enhance existing inferior procedures of patient diagnostic imaging; and also, to decrease excessive overheads, linked with traditional procedures of diagnostics.
Growing geriatric population means they are highly prone to the unhygiene conditions. It is thereby estimated to increase the demand for technically sophisticated methods of diagnostics. Accoridng to the data from Meds cape, the increased rate of mortality is due to the prevailing chronic diseases. It becomes very much necessary to choose for the superior options of imaging and diagnostics.
Speedy technical progressions in the structure of digital pathology are estimated to add to the development of the market. The progressions for example, robotic light microscopy, digital imaging, multiple fiber optic communications and computerization are furthermore encouraging the development. The technique of whole slide imaging has the range of advantages above usual light microscopes. This is estimated to offer well paid openings to the market for digital pathology, in the near future.
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Effect of Covid-19:
The National Institute of Health (NIH), U.S.A., has presented the online Covid Digital Pathology Repository, an essential assortment of high-pitched resolution infinitesimal images of Covid associated tissues of a human being.
As the figure of Covid-19 linked fatality goes on increasing globally, merely a small number of institutes are prepared with the viral repression amenities, to carry out autopsies plus gather tissues from the patients that surrender to the illness.
These tissues are important for the researchers those are examining the disease pathology and examining the treatment measures of Covid-19 disease. Covid-DPR was shaped to facilitate intercontinental team work, by way of giving a central cloud centered storage area for the distribution and interpreting digital whole slide images of heart, lung, kidney and liver tissues from Covid-19 contaminated patients , in addition to the intimately connected corona viruses linked with MERs and SARs.
Key Takeaways from the report:
- In 2019, the nano devices dominated the market for digital pathology, in terms of revenue. The devices comprise slide management systems and scanners. Better resolution and growth in educational research actions are the important drivers of the development of the market for digital pathology
- Based on applications, the market for digital pathology can be segmented into academic research & diagnosis and the discovery & the development of the drug. Due to the extensive applications of the systems, in a variety of research events, for example study of tumor morphology and biomarker profiling, the division of academic research headed the market in 2019
- With reference to the end use, the market for digital pathology is divided in to Academic & Research Institutes, Diagnostic Labs, Pharma & Biotech Companies and Hospitals. Due to the growing acceptance of these procedures, in 2019, hospitals detained the most important share of the market. The hospitals are implementing the techniques of digital scanning for speedy diagnosis and enhanced observance of the patients
- In terms of revenue, the North America detained the biggest share of the market, in 2019. Constant supply of funds for R&D, encouraging plans by the government regarding the improvement of technically sophisticated structure and the existence of important companies Are some of the growth factors. These are the most important factors, contributing for this dominance. Augmented practice of digital pathology for the diagnosis of the disease, along with positive policies of compensation in the U.S.A., are improving the class of cancer diagnosis. These factors are estimated to additionally power the development of the market for digital pathology, with in the region.
- Owing to the increasing infiltration of digital imaging in developing nations, funds in the medicinal sector, and the existence of untouched market segments , the Asia Pacific is estimated to develop by the speedy CAGR of 12.9%, in the near future.
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Some of the important companies for Digital Pathology Market are:
- Micro Skan Technologies
- Hamamatsu Photonics, Inc.
- Ventana Medical Systems, Inc.
- Leica Biosystems
- Olympus Corporation
- 3DHistech, Inc.
- LigoLAb LLC
- Objective Pathology Services
- Philips Healthcare
- GE Healthcare
- Omynx LLC
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Grand View Research has segmented the global digital pathology market on the basis of the product, application, end use, and region:
Digital Pathology Product Outlook (Revenue, USD Million, 2016 – 2027)
- Slide Management System
- Storage System
Digital Pathology Application Outlook (Revenue, USD Million, 2016 – 2027)
- Drug Discovery & Development
- Academic Research
- Disease Diagnosis
- Cancer Cell Detection
Digital Pathology End-use Outlook (Revenue, USD Million, 2016 – 2027)
- Biotech & Pharma Companies
- Diagnostic Labs
- Academic & Research Institutes
Digital Pathology Regional Outlook (Revenue, USD Million, 2016 – 2027)
- North America
- Asia Pacific
- South Korea
- Latin America
- The Middle East and Africa
- South Africa
- Saudi Arabia
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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