Digital Pathology Market Projected to reach USD 717.41 Million by 2023

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Digital Pathology Market – Segmented By Type, Product, Application, End-User, And By Region – Global Growth, Trends, And Forecast -2023

Market Overview:

In the year 2018 Global Digital Pathology Market was valued at USD 415.54 Million. By the year 2023, it is predicted to reach USD 717.41 Million with the pace of 11.54% CAGR.

Digital pathology refers to the use of digital tools to convert analogue microscopic images into digital images. Digital pathology conveniently improves the efficiency of workflow and delivers faster and accurate test results when compared to other conventional methods. This technology is gaining demand in the global market as it brings a number of improvements in drug discoveries activities, diagnostic tests, multi-functionalities in instruments and other research applications.

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Factors affecting market growth:

  1. Rising prevalence of chronic diseases globally. (+)
  2. Increasing adoption digital pathology devices in the healthcare services across the worldwide. (+)
  3. Growing geriatric population. (+)
  4. Increasing demand for advanced diagnostic techniques. (+)
  5. Rising technological advancements in digital pathology systems. (+)
  6. Increasing investments for Digital pathology by government and private organization. (+)
  7. High cost involved for adopting of new digital pathology technology. (-)
  8. Lack of reimbursement policies. (-)

Market Segmentation

The Global Digital Pathology Market is geographically segmented into

  1. North America
  2. Europe
  3. Asia Pacific
  4. Latin America
  5. Middle East and Africa

North America holds the largest market share in the global digital pathology market followed by Europe. North America for digital pathology market is mainly driven due to increasing investments in R&D activities, support from government bodies for the development of digital pathology systems and presence of well-established healthcare services.  Asia-Pacific is gaining fast growth in the digital pathology market due to advancement of technologies, increasing investments in the medical field, rising aging population, and increasing healthcare expenditure are the driving factors which are projected to gain market share during the forecast period.

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Key players:

Leading companies for Global Digital Pathology Market are 3D-Hitech Ltd, Hamamatsu Photonics, K.K., Digipath Co., ZEISS, Olympus Corporation, Yokogawa Electronic Corporation, Quorum Technologies Inc., Perkin Elmer, Inc., Definiens AG, Sectra AB, Koninklijke Philips N.V, GE Healthcare, Inspirata Co., Ventana Medical Systems, Inc., and Leica Biosystems.

The scope of the report:

1. Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the untapped regions.
2. Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
3. Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
4. Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
5. Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
6. A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
7. Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
8. An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

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