The global digital pathology market, valued at nearly US$ 327 Mn in 2015, is expected to increase at over 11% CAGR during the forecast period 2015-2025 to total US$ 954.4 Mn in revenues by 2025-end. These insights are according to a report by market research and consulting firm Future Market Insights (FMI).
Digitisation of pathology services increases efficiency and accuracy of laboratory operations. Technology innovations have had a massive impact on the healthcare sector, and digital pathology sector is no different. In the next decade, high-resolution sample screening, real-time access to reports, and increasing prevalence of cancer are forecasted to drive the growth of the digital pathology market.
While digital pathology is gaining traction in North America, where most of the R&D centres are located, its adoption in Asia Pacific and Latin America is still at a nascent stage.
The healthcare sector in North America is well developed and hospitals and research centres have the means to invest in new technologies. Lack of adequate funding is a key factor impeding the growth of the digital pathology market in Asia Pacific and Latin America.
The digital pathology market in Europe can be broadly segmented into Western and Eastern Europe. While the growth of the market in Western Europe mimics that in North America, Eastern Europe digital pathology market is yet to develop fully.
FMI’s report has also segmented the global digital pathology market on the basis of components, end-users, and screening services.
Component-wise breakup of digital pathology market includes the hardware, software, and services segments. In the software segment, most firms use on-premise software for data storage, vis-à-vis cloud storage. Market revenues generated through on-premise storage are higher as compared to cloud storage. However, it is expected that on account of cost savings and any-time access, cloud storage is anticipated to gain traction in the future.
A free sample and TOC of FMI’s report on the global digital pathology market is available for download at http://www.futuremarketinsights.com/reports/sample/REP-GB-124
On the basis of screening service technology, the digital pathology market has been segmented into chemical pathology, medical microbiology, haematology, and histopathology. Among these, histopathology is the most widely used screening segment, accounting for nearly 81% revenues of the global digital pathology market in 2015. It is expected that this segment will continue to account for the bulk of the revenues of the global digital pathology market during the forecast period as well.
FMI’s report also offers 10-year market forecast and analysis on the basis of end-user. The key end-use industries in the global digital pathology market are hospitals, diagnostic labs, and research centres. Among these, research centres are massively involved in the adoption of digital pathology services, accounting for a majority revenue contribution. Research centres represented over 60% revenue share of the global digital pathology market in the year 2015.
The key companies operating in the global digital pathology market are ZEISS, GE Healthcare, Ventana Medical Systems, Inc., MedImmune, LLC (AstraZeneca), Digipath Co., Hamamatsu Photonics, Perkin Elmer, Inc., Koninklijke Philips N.V, Inspirata Co., Sectra AB, Leica Biosystems, 3D-Histech Ltd, K.K., Olympus Corporation, and Yokogawa Electronic Corporation.