The Digital Pathology Market report covers the latest trends affecting the market to provide the most accurate forecasts and predictions. By correlating the historical data with key market dynamics, our analysts make highly astute projections regarding the scope of the market and its future prospects. MRFR’s report includes a thorough analysis of the global digital pathology market segmented by type, product, application, end-user, and region. Trends and opportunities are highlighted coupled with the market share of companies as well as their valuation in the market. It analyzes new revenue sources for players and outlines the various strategies implemented by players.
The diagnosis process is undergoing a revamp owing to the overhauling impact it has left on the sector. The cost has spiraled down considerably, and results come out faster than erstwhile days. The digital pathology market can do better than just doubling its existing valuation by climbing up higher to an estimated USD 8,305.6 million with an astonishing CAGR of 13.04% during the forecast period (2017-2023). Market Research Future encapsulates the holistic approach it had taken to get hold of a comprehensive picture of the coming days in their report regarding digital pathology.
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The Digital Pathology Market has been observing continued growth on account of the prevalence of chronic diseases such as cancer. Rising incidences of cancer require timely diagnosis and treatment, and digital pathology has the potential to improve accuracy and timeliness of cancer diagnosis and hence is extensively used which induces demand for digital pathology. Advancements in digital pathology technology such as digital imaging, robotic light microscopy, and multiple fiber optic communications are expected to up the level of efficiency of diagnosis and uplift the growth of the market. Additionally, the lack of skilled pathologists who can handle the growing complexities of diagnostics has surged the demand for digital pathology.
Digital pathology finds its application in various fields such as education, tissue-based research and drug development which further drives the growth of the market. The rise in a number of clinical and pre-clinical trials have propelled the growth of the market. Digital pathology is setting new standards of practice in clinical trials with the introduction of new technologies such as virtual microscopy, and digital imaging which helps improve the outcomes of clinical trials.
Increasing adoption of advanced technologies to improve workflow and facilitate faster diagnostics is augmenting the market growth. Additionally, government initiative and support in various economies to strengthen the healthcare infrastructure in the form of funds and subsidies foster the growth of the market. Other market drivers include a rise in automation and improvements in healthcare infrastructure across the globe. However, the market growth might be hindered by lack of standardization in digital pathology and substantial initial cost of setup
Key Players for Global Digital Pathology Market
Mikroscan Technologies, Inc.,
Huron Digital Pathology Inc,
Apollo Enterprise Imaging Corp.,
Definiens and others.
Global Digital Pathology Market – Competitive Analysis
The Global Digital Pathology Market is fragmented and highly competitive with the presence of a multitude of well-established and small players. Owing to the lucrative growth opportunities offered by the market, there has been an influx of new players which further intensifies the competition. The notable players of the global digital pathology market include microDimensions GmbH, Q2 Solutions, LLC, Philips Healthcare, ViewsIQ Inc., Apollo Enterprise Imaging Corp., Definiens, Mikroscan Technologies, Inc., Omnyx, GE Healthcare, Huron Digital Pathology Inc, 3DHISTECH Ltd, Xifin, Inc., and others.
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Global Digital Pathology Industry Updates
In July 2018, Enzyvant, a biopharmaceutical company, announced a partnership with Visikol, a contract research organization dealing with digital pathology and drug discovery. The partnership aims to develop a novel digital pathology approach to enable the development of a medicine for the treatment of DiGeorge Anomaly.
In July 2018, Royal Philips, a leading health technology company and Oxford University Hospitals joined forces to create a digital pathology network which will enable better diagnosis of diseases. Oxford University Hospitals have planned to install the Philips IntelliSite Pathology Solution at the John Radcliffe Hospital in Oxford.
Global Digital Pathology Market – Segmentation
Types of Digital Pathology includes human and animal pathology. Products in the digital pathology market includes software, hardware, and storage. Major applications include disease diagnosis, drug discovery, Mhealth, and telemedicine. In terms of end-users, the market is segmented into hospitals & clinics, research centers & academic institutes, and diagnostic centers.
The segments covered in the report are analyzed with respect to four major regions – The Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA), with respective country-level market sizing. The definition and advantages of “digital pathology” is outlined in the report for a comprehensive understanding of the market. The report discusses in minute detail the various players and the strategies outlined by them to enhance their value chain.
Global Digital Pathology Market – Regional Analysis
Geographical analysis of the digital pathology market entails trends in regions such as the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
Prevalence of chronic diseases, increasing expenditure in the healthcare sector, and a tendency to adopt latest technologies gives the Americas unprecedented leverage over other regions. This has propelled the Americas as the market leader. The region is also investing heavily in pathological studies which is driving the market ahead.
Europe’s retainment of the second position exclusively depends on the presence of a hoard of the key players in the region such as Leica Biosystems, Definiens, and others. Gradual spreading chronic diseases is also a factor that cannot be ignored.
The APAC is expected to be the fastest among the growing regions. A CAGR of almost 13.53% during the forecast period can ensure this market’s prospect in the region. The ever-growing healthcare expense of countries such as China and India hold significant promise for the regional digital pathology market. Medical tourism in Thailand, Singapore, and India can contribute significantly to the market.
The MEA may not be able to register significant growth as the region do not spend much in healthcare. However, rising health-related awareness can boost the market in the future.
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