Digital Pathology Market Overview
The need for pathology in the diagnosis of diseases is estimated to transform the digital pathology market. The market’s report is efficiently analyzed as per MRFR, which provides outlooks for the global markets. The market is likely to spur the development with a CAGR of 6.5% to earn an income worth USD 1.4 Billion by 2028.
The restrictions imposed by the COVID pandemic are estimated to expand further the opportunities for development in the digital pathology market. Laboratory efficiency enhancements are predicted to alter the development of the digital pathology market share in the forecast period.
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Digital Pathology Market Segmental Analysis
The segmental examination of the digital pathology market is carried out on the basis of product, application, end user, type, and region. The product segment of the digital pathology market comprises of software, hardware, and storage. The digital pathology market’s application segment comprises Mhealth, drug discovery, disease diagnosis, and telemedicine. The digital pathology market’s end-users segment comprises diagnostic centers, hospitals & clinics, and research centers & academic institutes. The type segment of the digital pathology market comprises of animal pathology and human pathology. The region segment of the digital pathology market comprises of Africa, Europe, Asia Pacific, the Middle East, and the Americas.
Digital Pathology Market Regional Overview
The digital pathology market’s regional scrutiny comprises Africa, Europe, Asia Pacific, the Middle East, and the Americas. Chronic disease prevalence, rising healthcare spending, and a proclivity to accept new technologies offer the Americas an unrivaled advantage over other regions. As a result, the Americas have risen to the top of the market. The region is also substantially investing in pathological research, which is propelling the industry forward. The survival of Europe in second place is entirely dependent on the presence of a slew of vital players in the region. Among the expanding regions, APAC is likely to be the fastest. A CAGR may assure this market’s prospects in the region of almost 13.53 percent during the forecast period. The ever-increasing healthcare expenditures of countries like China and India contain much promise. Medical tourism can make a considerable contribution to the Thai, Singaporean, and Indian economies.
Digital Pathology Market Competitive Analysis
The use of technology and a strategy-based approach is likely to increase the likelihood of future success. Many government agencies are providing fiscal stimulus to help their national markets recover, which is expected to boost global demand. The market’s heightened focus on high-revenue decision-making is expected to hasten its return to normalcy in the coming months. Organizations want to invest in technology and innovation for the post-COVID-19 future and need to maintain resilience for the next major upheaval. The industry’s growth is expected to be fueled by market businesses’ investments in building strong e-commerce and retail channels. The reformative trends that are forming the global market are anticipated to lift the market. In the following months, the creation of strong delivery chains is expected to accelerate developments. The increase in the rate of innovation is expected to open up new market opportunities. However, many companies are yet to address the delayed risks and potential vulnerabilities introduced during the pandemic’s growth ability. The signing of several international trade agreements is expected to boost the expansion of the market’s economy.
The important players in the digital pathology market are Danaher Corporation (Leica Biosystems GmbH) (U.S.), Inspirata (U.S.), 3DHISTECH Ltd. (Hungary), Huron Digital Pathology Inc. (Canada), Olympus Corporation (Japan), Koninklijke Philips N.V. (The Netherlands), microdimensions GmbH (Germany), Definiens (Germany), Hoffmann-La Roche Ltd. (Switzerland), and Mikroscan Technologies, Inc. (U.S.).
Industry Updates:
Aug 2021 Paige and Perspectum intend to combine pathology technologies in order to move forward with prospective investigations. Both companies are working on artificial intelligence-powered software that analyses standard tissue samples in order to assist pathologists in making more accurate diagnoses and treatment decisions. Paige’s work has so far centered on developing algorithms to detect breast and prostate malignancies, while Perspectum’s own liver-scanning tool has been a success. Paige and Perspectum hope to improve pathology workflows in late-stage clinical trials by integrating their technologies.
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Aug 2021 Vuno, the first Korean startup to develop and sell software to detect and classify cell markers, has attracted industry attention. In addition, the company has presented its achievements in AI pathology research at a number of international cancer societies. VUNO has AI solution pipelines in place that cover significant areas of pathology, such as morphometric assessment, diagnostic aid, and treatment response prediction, and it is working to commercialize the products as quickly as possible.
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