Transparency Market Research (TMR) has published a new report titled, 'Digital Pathology Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027'. According to the report, the global digital pathology market was valued at US$ 0.38 Bn in 2018 and is projected to expand at a CAGR of over 12.0% from 2019 to 2027.
Digital pathology (DP) is an image-based platform that involves managing, analyzing and interpreting digital information reflected on a digitized slide. Digital pathology technologies are utilized in many application areas such as forensic pathology, oral pathology and human pathology. Digital pathology is poised to streamline the workflow and activities of diagnostic laboratories and pathologists in near future.
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Digital pathology market is currently booming owing to rise in research and development activities. Surge in incidence and prevalence of chronic diseases and demand for advanced therapeutics are leading to increase in demand for new drugs and medicines. This in turn is increase in focus of research and development.
Increase in number of trade fairs and exhibitions are creating awareness about the benefits of digital pathology solution. For instance, the 2nd international conference of digital pathology was held in November 2017 which brought together research scientist, pathologist and professors from different countries to discuss the complete digital solution for pathology. Thus, rise in awareness towards usage of digital pathology solutions for diagnosis of disorders and diseases is anticipated to drive the growth of market.
North America dominate the global digital pathology market in 2018 and the trend is anticipated to continue during the forecast period. Well established healthcare infrastructure, early adoption of advanced solutions and vast patient pool are the factors anticipated to drive the global digital pathology market in the region.
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Asia Pacific is likely to be a highly lucrative region for the digital pathology market and is expected to expand at a high CAGR during the forecast period. Demand for newer solutions, surge in geriatric population with various chronic diseases and growing government initiatives to improve healthcare infrastructure are key factors likely to boost the digital pathology market in Asia Pacific.
Rising Adoption of Telepathology and Virtual Pathology to Drive Global Digital Pathology Market
IT and operations segments have rapidly expanded the use of virtualization technologies in the last few years. Pathology is considered to be visual science and telepatholgy and virtual pathology are the new landscape of diagnostic pathology
Recent advances in telecommunication, microelectronics, sensor manufacturing, and data analysis techniques have created new possibilities for telepatholgy and virtual pathology in digital pathology market
Telepatholgy is being practiced by many laboratories across the world and gaining popularity across the emerging economies which is expected to boost the growth of digital pathology market during the forecast period
Image Analysis Software Segment to Dominate Digital Pathology Market
In terms of products, the global digital pathology market has been segmented into image analysis software and scanners. The image analysis software segment dominated the global digital pathology market in 2018 and the trend is projected to continue during the forecast period. Rising awareness about healthcare IT and rising demand for integrated advanced technology products are the factors anticipated to drive the growth of segment.
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Diagnostic Laboratories Segment Hold a Major Share of Global Digital Pathology Market
In terms of end-user, the global digital pathology market has been classified into diagnostic laboratories, academic & research centers, pharmaceutical companies and others
The diagnostic laboratories segment is likely to dominate the digital pathology market during the forecast period. Increasing number of diagnostics laboratories while scarcity of skilled pathologist across the globe is anticipated to fuel the growth of segment.
Diagnosis Segment to Dominate Global Digital Pathology Market
Based on application, the global digital pathology market has been segmented into diagnosis, consulting services, educational and others
The diagnosis segment dominated the global digital pathology market in 2018 and trend is projected to continue during the forecast period. Rising awareness about early diagnosis and increase in patient pool are the factors anticipated to drive the growth of segment.
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North America to Dominate Global Digital Pathology Market
In terms of region, the global digital pathology market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global digital pathology market in 2018, followed by Europe.
North America accounted for major share of the global digital pathology market in 2018. High disease prevalence, presence of key players and supportive healthcare infrastructure are the major drivers of the digital pathology market in the region.
The digital pathology market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. Rising awareness about telepathology, rise in healthcare infrastructure, unmet medical needs and untapped nature of the market are the key factors for market growth in the region
The global digital pathology market is fragmented in terms of number of players. Key players in the global digital pathology market include Leica Biosystems Imaging, Inc., OLYMPUS CORPORATION, F. Hoffmann-La Roche Ltd, Mikroscan Technologies, Inc. Koninklijke Philips N.V., Sectra AB and Inspirata.
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