Digital pathology is a dynamic, image-based environment that enables the acquisition, management and interpretation of pathology information generated from a digitized glass slide. Digital pathology is also known as “Virtual Microscopy”. This report analyzes the total revenue generated through sales of digital pathology systems, which includes scanners, software and services. In addition, the report analyzes the revenue generated through digital pathology service provided by end users such as pathology labs, research centers and others. Digital pathology systems are gaining traction among pathologists, mainly due to its operational efficiency and rising need for integrated healthcare facilities. Over the years, there has been a surge in the need to connect laboratories to hospitals and clinics owing to increased demand for pathology screening service in disease diagnosis and prognosis. This has led to a rise in emphasis on product innovation in digital pathology systems. Thus, and increasing number of players are entering the digital pathology market with varied service offerings.
The global digital pathology market has been estimated to be valued at US$ 326.7 Mn by the end of 2015, and is projected to witness a significant increase in market value due to rising demand for digital pathology systems from end-use segments such as hospitals, research centres and diagnostic laboratories.
Drivers and Trends
Rise in cancer incidences and increasing demand for collaborative second opinion technology by patients is paving the way for overall growth of the digital pathology market globally. Increased spending on cancer diagnostics and healthcare IT spending structure reforms has led to the wide popularity of digital pathology systems among hospitals, research centers and diagnostic laboratories. Increasing number of hospitals and diagnostics laboratories is a factor also expected to boost overall demand for digital pathology systems globally.
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Currently, digital pathology is widely used in North America owing to a vast number of companies in the market, and increasing inclination of healthcare service providers towards integrated healthcare information technology platform and commercialization of multipurpose instruments with cloud-enabled technologies to provide better interoperability for diagnostic results, is expected to fuel growth of the global digital pathology market throughout the forecast period. Secondly, tele-pathology trends, i.e. remote sharing of glass slides, is gaining popularity owing to its economic nature as compared to other conventional slide sharing practices.
Revenue from the global digital pathology market is expected to expand at a significant CAGR in regions such as Western Europe and North America over the forecast period. Digital pathology industry is consolidating, as players in the industry are entering into partnerships, mergers and acquisitions and well-planned distribution strategies to capitalize on the overall opportunities present in untapped markets in Latin America and Eastern Europe. Though this market is growing at a significant rate, the high cost of digital pathology scanners and software along with cost of implementation services, coupled with ambiguity regarding regulations for the use of digital pathology systems in primary diagnosis is proving to be a major restraint for overall growth of the market.
Analysis by Region
North America is expected to remain the dominant market in the global digital pathology market throughout the forecast period and revenue is projected to expand at a CAGR of 11.8% over the forecast period. The U.S. market is expected to remain the dominant market among other countries in North America throughout the forecast period owing to supporting government policies encouraging adoption of healthcare IT services. Western Europe market is followed by the North America market as more number of players are expected to enter into the former market during the forecast period. Japan is expected to be the next lucrative market for digital pathology companies, and the market in this region is estimated to register a CAGR of 11.3% in terms of revenue over the forecast period.
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Analysis by Product
The global digital pathology market is segmented into scanners, software and services. Scanners segment is further sub-segment into fluorescent digital pathology scanners and bright field digital pathology scanners. The software segment is further sub-segmented into image analysis and digital pathology information systems. On the basis of deployment mode, the image analysis and digital pathology information systems sub-segments are categorized as on-premise delivery and cloud based delivery solutions. The services segment is further sub-segmented into installation & integration services, consulting services and maintenance services. Currently, the digital pathology scanners segment accounts for major share of the global market; whereas, digital pathology software and services segment is expected to witness impressive growth during the forecast period.
In the software segment, the image analysis software sub-segment is expected to register a significant CAGR of 9.2% and remain the dominant sub-segment in the global market over the forecast period. In the services segment, the installation and integration services sub-segment is expected to register fastest CAGR of 13.6%, owing to increasing number of research centers and hospitals expected to adopt digital pathology scanners and software for easing diagnostics workflow.
Analysis by pathology screening services
The digital pathology screening services market is segmented into hematology, histopathology, chemical pathology and medical microbiology. The histopathology segment is expected to dominate the overall digital pathology market by the end of forecast period, i.e. by 2025. The hematology and medical microbiology segments are projected to register below average growth rates over the forecast period. Meanwhile, the histopathology segment is projected to register fastest CAGR over the forecast period in terms of value. Digital pathology adoption for histopathology procedures is fuelling growth of this segment currently.
Analysis by End-use
Based on end user, the market has been segmented into hospitals, diagnostic laboratories and research centers. Hospitals segment is sub-segmented into depending upon the number of beds in hospital. The diagnostics laboratories segment is further sub-segmented into in private and public laboratories. In terms of value, research centers segment is estimated to account for 57.4% share of the global market by 2025 end.
Some of the key players covered in the global digital pathology market report include Perkin Elmer, Inc., Definiens AG, Sectra AB, Koninklijke Philips N.V, GE Healthcare, Inspirata Co., Ventana Medical Systems, Inc., Leica Biosystems, 3D-Histech Ltd., Hamamatsu Photonics, K.K., Digipath Co., ZEISS, Olympus Corporation, Yokogawa Electronic Corporation and Quorum Technologies Inc. The report offers insights on the various strategies related to software development, market consolidation initiatives and analyses of the various market players’ specific strengths, weaknesses, opportunities and threats.