Digital Pathology comprises an array of equipment capable of capturing, analyzng, interpreting, and managing digital information gained from slides. The technology is gaining focus rapidly thanks to its wide application in tissue-based research, human pathology, and drug development. The global digital pathology market is anticipated to expand at a significant CAGR from 2018 to 2023 (forecast period), according to the latest report by Market Research Future (MRFR).
Rise in the number of pathologists, benefits of digital pathology, and its rapid use in the healthcare sector are factors anticipated to drive market demand during the forecast period. Adoption of electronic health records (EHRs), integration of automation to expedite workflow, and technological improvements in image analysis software are other factors likely to influence the buying decisions of hospitals and clinics. But high implementation costs of digital pathology combined with stringent regulatory policies can act as roadblocks for the market.
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The 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.
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
Some of the key players in this market are: microDimensions GmbH, Mikroscan Technologies, Inc., Q2 Solutions, Omnyx, LLC, GE Healthcare, Philips Healthcare, Huron Digital Pathology Inc, ViewsIQ Inc., 3DHISTECH Ltd, Apollo Enterprise Imaging Corp., Xifin, Inc., 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.
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
ypes 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
The key markets of the global digital pathology market include North America, Europe, Asia Pacific and the Middle East & Africa. The global digital pathology market is dominated by North America owing to the prevalence of chronic diseases and technologically advanced healthcare sector in the region. Europe is the second largest market for digital pathology due to the presence of a robust healthcare sector and increased expenditure on healthcare facilities. Asia Pacific is expected to be the fastest growing market on account of improvements in the healthcare sector, rising healthcare expenditure, and growing awareness. The Middle East & Africa market is projected to exhibit steady growth over the forecast period.
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