The Worldwide Digital Pathology Market is growing with the rapid pace; mainly due technologically advanced diagnostic tools for the chronic diseases such as cancer has upsurged the demand for digital pathology. According to a recent study report published by the Market Research Future, The global digital pathology market is booming and expected to gain prominence over the forecast period growing rapidly. The market is forecasted to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2022).
The market is expected grow with the same trends during the forecast period. The major drivers will be rapid technological advancements in digital pathology system such as advancements in digital imaging, robotic light microscopy, and multiple fiber optic communications among others. Moreover, growing prevalence of chronic conditions, that has expected to uplift the demand for digital pathology in order to improve existing patient diagnostic imaging measures and reduce high cost associated with the traditional diagnostics methods. For instance, as per National Pathology Programme, nearly 800 million tests are being performed annually which is equal to 14 for each person in England and Wales. Additionally, increasing R&D applications of static and dynamic systems is fostering the market growth of digital pathology market.
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With the evolution of information technology in the past few years, a rapid change has being observed in the practice of pathology. Various novel techniques have been implemented, primarily in the form of digital imaging and Telepathology (TP). Digital pathology is a branch which can be defined as the electronic capture, management, analysis and distribution of gross or microscopic specimens. It encompasses the use of digital imaging as well as TP. Digital pathology has a wide spectrum of applications that includes primary diagnosis, intraoperative diagnosis, consultation, quality assurance, archiving, research and academic studies. This technique helps in speeding up the process of diagnosis and further treatment. It also helps in research procedures by offering an easy access to the previously stored digital information. As per the Royal College of Pathologists, in the UK alone pathologists carry out 121,000 autopsies each year which has supported the market growth.
Digital Pathology Market – Regional Analysis:
Analysis shows that, North America including the U.S. and Canada, held the largest share of the global Digital Pathology market. A number of factors such as the decline in fertility rate owing to the rising first time pregnancy, age & high prevalence of ‘polycystic ovary syndrome’ among North American women, growing awareness about the benefits offered by ovulation monitors & Fertility Awareness Methods in successful conception among women & the development of advanced device offerings at a lower cost are driving market growth in North America. However, the Asia Pacific Digital Pathology market is expected to witness the fastest growth in the forecast period. Growing anxiety, increasing depression among couples, decreasing fertility rate, growing number of women suffering from lifestyle disorders, rising funding and investments for the development of fertility & ovulation monitors, growing focus of both international & domestic players on the Asia Pacific Digital Pathology market are some of the major factors driving Digital Pathology market growth in the Asia-Pacific region.
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Global Digital Pathology Market – Competitive Analysis:
The market for digital pathology is characterised by the presence of several well-established and small players, the global market of digital pathology appears to be highly competitive and fragmented. Global players are increasingly expanding their footprint in the emerging nations, making it putting pressure on the regional players, especially in terms of features such as type, product portfolios, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. Well established players are entering into mergers & acquisitions, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.
Companies like Leica Biosystems; Hamamatsu Photonics, Inc.; and Olympus Corporation are increasingly adopting extensive collaborative strategies to gain more profits and capturing new markets. For instance, in March 2017, Leica Biosystems entered into a strategic partnership with Leeds Hospital to improve productivity and workflow.
Key participants like Royal Philips has acquired the Irish PathXL, one of the largest pathology, image-based analysis firms in order to develop integrated tools targeting applications in computational biology, workflow solutions, education, and image analytics. In addition, these key activities the companies are aiming towards supporting the gradual transition of medical institutions present across the globe from the conventional pathology systems to digital pathology systems.
Thus, we can say that these competitive developments will further enable pathologists to perform high-throughput analysis of clinical image datasets that are diverse in nature and expedite improvement in the diagnosis quality, thereby presenting a potential for adoption new ad improved therapies to enhance patient health outcomes.
microDimensions GmbH (Germany), Mikroscan Technologies, Inc. (U.S.), Q2 Solutions (U.S.), Omnyx, LLC (U.S.), GE Healthcare (UK), Philips Healthcare (U.S.), Huron Digital Pathology Inc. (Canada), ViewsIQ Inc. (Canada), 3DHISTECH Ltd (Hungary) Apollo Enterprise Imaging Corp. (U.S.), Xifin Inc. (U.S.), Definiens (Germany) and others. are some of the prominent players at the forefront of competition in the Global Digital Pathology Market and are profiled in MRFR Analysis.
Major TOC of Digital Pathology Industry:
TABLE OF CONTENTS
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS & LIMITATIONS
1.3 MARKET STRUCTURE:
2 RESEARCH METHODOLOGY
2.1 RESEARCH PROCESS:
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH:
3 MARKET DYNAMICS
3.4 MACROECONOMIC INDICATORS
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