Digital Pathology Market Synopsis
According to Market Research Future (MRFR), the global digital pathology market is anticipated to acquire a market value of USD 8,305.6 million while expanding at a CAGR of 13.04% during the review period from 2018-2023.
Increasing demand for efficient digital pathology products to treat chronic diseases, such as; cancer, diabetes, and others, is expected to drive the market significantly during the review period. Strategic moves; such as, increasing initiatives towards commercializing cost-efficient digital pathology techniques is anticipated to enhance the demand for such centers, which may augment the market in the coming period. The rapid development of digital pathology equipment, such as; medical imaging and robotic light microscopy, can accelerate the demand for quality diagnostics, resulting in trade development. Furthermore, the adoption of electronic records and integrating automation in medical utilities is expected to enhance the digitalization of pathologies, which may augment the demand for digital pathology services.
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However, high implementation costs of digital pathology are anticipated to hamper the market growth during the forecast period. However, the rising geriatric population is likely to counter the impeding factor that can augment the requirement of centers for diagnosis, which may develop the market.
Digital Pathology Market Segmentation
The segmental analysis of the global digital pathology market is done by product, application, type, and end-user.
The product-based segments of the global digital pathology market are hardware, storage, and software.
The application-based segments of the global digital pathology market are drug discovery, telemedicine, disease diagnosis, and mhealth.
The type-based segments of the global digital pathology market are human pathology and animal pathology.
The end-user based segments of the global digital pathology market are hospitals & clinics, diagnostic centers, and research centers & academic institutes.
Digital Pathology Market Regional Analysis
Based on the region, the global market for digital pathology is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
As per the assessment by MRFR, the global market is anticipated to be dominated by North America owing to the presence of advanced healthcare infrastructure. Established economies like the U.S. and Canada are expected to make significant participation in developing the regional market. The integration of advanced technologies in various diagnostic techniques can drive the market significantly during the assessment period. Furthermore, the presence of key players in the region can aid in boosting the regional market.
The APAC region is predicted to expand at the fastest pace during the forecast period owing to the integration of the latest technologies in healthcare infrastructure. The presence of emerging economies like India, China, and Japan is anticipated to augment the market share of the region during the forecast period.
Europe is anticipated to acquire significant market value during the forecast period owing to the on-going R&D programs in the concerned field. The advancement of diagnostic techniques is anticipated to further develop the regional market during the review period. Furthermore, the presence of key players in the region is likely to strengthen the market in the coming period.
The Rest of the World (RoW) is likely to acquire a meager market share during the evaluation tenure due to the presence of underdeveloped economies. However, the presence of untapped market opportunities is expected to underpin the market expansion during the review period.
Digital Pathology Market Key Players
Renowned players of the global digital pathology market are Olympus Corporation (Japan), Koninklijke Philips N.V. (The Netherlands), Huron Digital Pathology Inc. (Canada), microdimensions GmbH (Germany), F. Hoffmann-La Roche Ltd. (Switzerland), Inspirata (U.S.), 3DHISTECH Ltd. (Hungary), Definiens (Germany), Mikroscan Technologies, Inc. (U.S.), and Danaher Corporation (Leica Biosystems GmbH) (U.S.).
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