According to the report, the Global Digital Pathology Market accounted for $3.32 billion in 2016 and is expected to garner $8.67 billion by 2023, registering a CAGR of 14.8% from 2017 to 2023.
Use of digital pathology in disease diagnosis, increase in trend of digitalization in the medical sector, ease of consultation, and need for diagnosis in remote regions have boosted the growth of the global digital pathology market. However, lack of reimbursement and high cost of digital pathology solutions hamper the market growth. On the contrary, increasing potential of digital pathology is expected to create lucrative opportunities in the near future.
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Global digital pathology market is divided on the basis of product, type, end user, and region. Based on product, the market is segmented into whole slide imaging, image analysis informatics, information management system storage & communication, digital IVD devices, and others (telepathology). The image analysis informatics segment is projected to manifest the fastest CAGR during the forecast period, due to advantages offered by image analysis informatics including help in analyzing multitude of images with ease and studying complex morphologies & features. However, digital holographic microscopy segment held the largest share, contributing about one-fourth of the total market in 2016. Moreover, the segment is expected to register CAGR of 11.5% through 2023.
On the basis of type, the market is divided into automated hematology analyzers & blood cell counters, chromosome analyzers, fish enumeration systems, urine sediment analyzers, immunohistochemistry image analysis applications, digital cytopathology, digital PCR, signet cell detection, and digital holographic microscopy. The automated hematology analyzers & blood cell counters segment held the lion’s share in 2016 as cell counting with such devices is rapid and they improve the accuracy of the test results and eliminate chances of errors. However, the chromosome analyzers segment is projected to portray a CAGR of 17.9% during the forecast period.
Based on end user, the market is segmented in educational, clinical, and pharma & biotech companies. The pharma & biotech companies segment held the largest share, contributing about three-eighths share of the total market and is expected to manifest the fastest CAGR of 16.6% during the forecast period.
The report includes an analysis of the market on the basis of region. The market is studied in regions such as North America, Asia-Pacific, Europe, and LAMEA. The market in the Asia-Pacific region is expected to manifest the fastest growth, owing to high population density and increase in incidence of chronic disease in developing countries such as India and China. Moreover, India is projected to register the highest CAGR in the Asia-Pacific region during the forecast period.
The report includes analysis of the major market players including Digipath Inc., Danaher Corporation, Hamamatsu Photonics K.K., Glencoe Software, Inc., Koninklijke Philips N.V., Nikon Corporation, PerkinElmer, Inc., Nikon Corporation, Visiopharm A/S, and Pixcelldata Ltd.
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