Digital Pathology Market Trends, Current Updates and Forecast to 2023
Market Synopsis
Market Research Future (MRFR) asserts that the global digital pathology market is estimated to expand radiantly during the forecast period (2017-2023) owing to the augmenting number of pathologists. Digital pathology is referred to as an active, image-based setting that allows the management, procurement, and interpretation of pathological information which is generally generated from a digitalized glass slide. Digital pathology finds its applications in medical student & resident training, intraoperative diagnosis, manual & semiquantitative review of immunohistochemistry (IHC), primary diagnosis, clinical research, diagnostic consultation, and other diagnostic decision support.
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Market Potential and Pitfalls
Digital pathology involves an array of equipment which is capable of analyzing, capturing, interpreting, and managing digital information which is gained from slides. The technology is gaining prominence throughout the appraisal period owing to its wide application in human pathology, tissue-based research, and drug development. The increasing number of pathologists, its extensive use in the healthcare sector, and benefits associated with digital pathology are some of the major factors predicted to foster the market growth throughout the appraisal period. The integration of automation in order to expedite workflow increased adoption of electronic health records, and technological advancements in image analysis software are expected to influence the buying decisions of clinics and hospitals. Moreover, the ease in transfer of test results coupled with the efficiency of digital pathology solutions issome of the other factors estimated to provide the market a boost. The rapid technological developments such as robotic light microscopy, advancements in digital imaging, and multiple fiber optic communications are likely to propel the market growth in the coming years. The market’s course is chiefly directed by factors such as rising incidences of chronic diseases and growing R&D applications of dynamic and static systems. Moreover, the dearth of pathologists due to poor recruitment and increasing complexities of diagnostics have further triggered the demand for digital pathology.
On the contrary, strict regulatory policies combined with high implementation costs of digital pathology are some of the top barriers considered to vitiate the Digital Pathology Market Companiesgrowth throughout the appraisal period.
Competitive Dashboard:
Koninklijke Philips N.V. (The Netherlands), Olympus Corporation (Japan), Inspirata (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), microdimensions GmbH (Germany), Definiens (Germany), Mikroscan Technologies Inc. (U.S.), Huron Digital Pathology Inc. (Canada), 3DHISTECH Ltd. (Hungary), and Danaher Corporation (Leica Biosystems GmbH) (U.S.).
Global Digital Pathology Market: Segmental Analysis:
· Geographically, the global digital pathology market has been segmentedon the basis oftype, product, application, and end-user.
· By mode of type, the global digital pathology market has been segmented into animal pathology and human pathology.
· By mode of product, the global digital pathology market has been segmented into software and hardware.
· By mode of application, the global digital pathology market has been segmented into mHealth, disease diagnosis,telemedicine, and drug discovery. Among these, the disease diagnosis is estimated to experience the fastest growth rate owing to the augmenting prevalence of chronic diseases.
· By mode of end-users, the global digital pathology market has been segmented into diagnostic centers and hospitals& clinics, and research centers & academic institutes. Among these, the hospital's segment is considered to command the largest share owing to the increasing number of cancer cases combined with frequent readmissions. Moreover, the presence of well-equipped infrastructure and well-trained staffs are anticipated to propel the segment growth.
Regional insights
Geographically, the digital pathology market spans across regions namely, Asia Pacific, Europe, America, and the Middle East & Africa.
Among all the regions, the American region is estimated to lead the digital pathology market, with North America capturing the maximum share. The growth is credited to the augmenting investments in R&D activities, the concentration of major market players, and government initiatives about the development of technologically developed systems. Moreover, the rising usage of digital pathology for disease diagnosis combined with favorable reimbursement policies especially in the U.S. in order to improve the quality of cancer diagnosis are likely to support the market growth in this region.
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The Asia Pacific region is considered to expand at the fastest growth rate owing to the proliferation of advanced imaging modalities especially in the emerging nations, increased investments in the field of medical, and presence of untapped opportunities.Moreover, the presence of a large patient population coupled with the booming healthcare industry are estimated to influence the market growth in this region.
Industry Updates
October 15, 2018: A leading provider for digital pathology software, TRIBVN Healthcare has recently announced the launch of its brand new CaloPix 4.0.0 software version. This has been dedicated to the analysis and image management for clinical and diagnostic use.