The Digital Pathology Market is predicted to reach around $8305.6 Million and grow at CAGR of 13.4% depending on the climb in adoption rates during the forecast period, 2018-2023, according to Market Research Future.
Global Digital Pathology Market Research Report, by Type (Human Pathology, Animal Pathology), Product (Hardware, Software), Application (Disease Diagnosis, Mhealth, Drug Discovery) and End-Users (Hospitals, Diagnostic Centers) – Global Forecast Till 2023
Digital Solutions in-sync with healthcare empower manifold avenues in terms of cost efficiency and market growth that is increased productivity, better patient outcome, reduced expenses for unsuitable treatment, and a reduction in administrative capital expenditures.
In the healthcare sector, hospitals are getting more inclined towards automating and streamlining the procedures that normally take place amid the delivery of diagnosis and digitization of the tissue sample, which helps in improving reliability and speed. Sample queuing and scanning, annotation, case generation, sharing, and storage, support in structuring the task and maintaining the workflow, reduction in the time spent by technicians and pathologists are some of beneficial factor responsible for the rising adoption rate and driving the global digital pathology market.
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Growing penetration of digital solutions in radiology and organization stressing more on Electronic Health Records across the healthcare segment is predicted to drive the progress of the global market.
Increasing number of industry players shifting their development strategies towards building digital pathology services and growing penetration of digital pathology systems in developed as well budding regions is expected to stimulate the demand for the global pathology market.
Competitive Analysis – Digital Pathology Market
Highly competitive, the digital pathology market appears to be fragmented with the presence of several large and small players. Many well-established players, along with the new entrants, form a competitive landscape. Through strategic initiatives, such as acquisition, expansion, collaboration, and product/technology launch, these players try to gain a competitive advantage in this market. Substantial investments are transpired in R&D to develop a completely different technology compared to their competition.
Key players are adopting various strategies such as expansion, acquisition, and technology-driven product development to stay competitive in the global market. Some of the noteworthy key players in the digital pathology market comprise
- Huron Digital Pathology Inc,
- F. Hoffmann-La Roche Ltd.,
- Mikroscan Technologies, Inc.,
- 3DHISTECH Ltd.,
- Danaher Corporation (Leica Biosystems GmbH),
- Olympus Corporation,
- Koninklijke Philips N.V.
Digital Pathology Industry – Updates
In August 2019, Philips made public that Taipei Veterans General Hospital (TPVGH) will make use of Philips IntelliSite Pathology Solution to create first fully digital pathology department in Taiwan. By enabling tissue samples to be remotely monitored within virtual pathology network in hospitals, the Philips IntelliSite Pathology Solution will assist in TPVGH to enhance quality of diagnoses and upgrade patient safety. Philips IntelliSite Pathology Solution is intended for in-vitro diagnostic purposes to analyze and understand digital images of surgical pathology slides.
April 15, 2018 – Google LLC (the US), a multinational technology company, launched a new machine learning tool to boost digital pathology. Traditional pathologists used to take reference of their colleagues and other sources like textbooks to examine the problem. Modern technology enables the computers to skim through thousands of images and retrieve information, which is closest to the query. For example, the reverse image searches option in Google images.
Google’s Machine learning tool is now capable of assisting medical professionals in diagnosing critical cases like diabetic eye disease and metastatic breast cancer. Now, digital pathology is adopted widely. With the help of Google’s machine learning tool, clinicians can examine the data received as images on a computer. Simultaneously, clinicians can also draw insights from it, making the whole process of diagnosis relatively easy.
Segmentation – Digital Pathology Market
The Global Digital Pathology Market is broadly bifurcated into type, application, product, and end-users.
The type segment is segmented into animal pathology and human pathology.
The Global Digital Pathology Market is also divided into hardware and software, based on product.
Based on application, the global market is segmented into mhealth, disease diagnosis, and drug discovery.
Further, the Global Digital Pathology Market is also classified on the basis of end-users; this includes diagnostic centers, hospitals, and other healthcare facilities.
Regional Analysis – Digital Pathology Market
The global digital pathology market is led by North America due to its noteworthy market share. Sophisticated healthcare infrastructure and expenditures in Canada and the US drives the growth in the regional market. The market is anticipated to flourish throughout the forecast period. Existence of leading market players in the region fuels the growth of the North American digital pathology market.
Europe stands at the second position in the global market following North America. European digital pathology market is majorly driven by government aid for research and development, high-tech healthcare facilities, dedicated research funds, and patient population. Regions such as Germany and the UK are major drivers of the digital pathology market in Europe.
Moreover, the evolving healthcare industry with the digitization holding major role, the Asia Pacific market is developing rapidly. It is also anticipated to spur at great pace in the coming period. Favorable government policies and growing awareness about technology advancement in emerging nations such as China and India are the key drivers of the global market.
Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
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