According to the report Europe Digital Pathology Market, published by Market Data Forecast, the market is projected to reach USD 151 million by 2021, at a CAGR of 11.7% from 2016 to 2021.
Digital Pathology, by definition, is an image-based information environment which is enabled by computer technology that allows for the management of information generated from a digital slide. Digital pathology is enabled in part by virtual microscopy, which is the practice of converting glass slides into digital slides to be viewed, managed, and analyzed on a computer monitor. With the advent of Whole-Slide Imaging, the field of digital pathology has exploded and is currently regarded as one of the most promising avenues of diagnostic medicine in order to achieve even better, faster and cheaper diagnosis, prognosis and prediction of cancer and other important diseases.
Compared to normal pathology, where pathologists had to look at tissue slides under a microscope, digital pathology is a step up. When slides are digitized, they have the potential to be analyzed by an intelligent A.I. using computer algorithms. Algorithms can be modified as necessary to automate the process of counting of structures or for automatic classification of the condition of the tissue. This also helps in reducing human error and the diagnosis accuracy is improved as a result. Digital slides are also obviously easier to share than physical slides and thereby increases the potential for educative and consulting purposes.
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Europe Digital Pathology Market: Drivers & Restraints
The growth of the Europe Digital Pathology market is boosted by the increasing number of cancer cases and the growing presence of tele-consultations. The high effectiveness of the digital pathology systems as compared to their conventional counterparts also gives an additional thrust to the industry. Along with this, the increased adoption rate of digital systems and the initiatives undertaken by the government are also helping the cause of the digital pathology market. The other side of the coin is the strict regulatory concerns that are put in place for primary diagnosis. The lack of standard guidelines, nonexistence of reimbursement and deficiency in skilled personnel are some other factors that hamper the development of the market.
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Europe Digital Pathology Market: Segmentation
- Human Digital Pathology
- Animal Digital Pathology
- Communication Systems
- Storage Systems
- Disease Diagnosis
- Drug Discovery
- Training and Education
By End User
- Pharmaceutical Companies
- Academic Institutes
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Europe Digital Pathology Market: Overview
The mounting requirement for sophisticated healthcare facilities which can be met through establishing digital pathology systems, would offer lucrative opportunities for the service providers in the future if they can overcome threats like excessive cost of installing innovative technology or building new infrastructure. The global digital pathology market is flourishing due to the rise in expenditure in healthcare industry. Globally, various countries such as U.S., Canada, and Germany are increasing the encouragement of technologically advanced healthcare products in order to provide better healthcare services to their citizens. As a result, the adoption of digital pathology is rising in the developed and growing economies. Digital pathology is gaining traction among hospitals and research laboratories due to the multitude of advantages of digital pathology over conventional pathology.
Europe Digital Pathology Market: Region-wise Outlook
The Europe Digital Pathology market is segmented on the basis of geography as Italy, Spain, UK, Germany and France. The region accounts for the second largest market revenue worldwide, second only to North America. Of all the nations in the European market, Germany has the highest market share. The development is concentrated around the western countries of the region where technological advancements can counter the restraints of the market resulting in a well-developed market.
Key Questions Answered
- What is the current and future Digital Pathology market outlook in Europe? What trends are affecting the Europe market?
- What is the competitive landscape and market share of major players in the Digital Pathology market space in Europe?
- What are the key, high growth markets that Digital Pathology systems manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Digital Pathology systems currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Digital Pathology?
- What are the challenges and barriers that have hindered widespread adoption of digital pathology systems?
Europe Digital Pathology Market: Key Players
The major companies dominating the Digital Pathology market in Europe are 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.
Reasons to buy Europe Digital Pathology Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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