Global Digital Pathology Market – Overview
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.
The global 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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Digital Pathology Market Segment
The study of global digital pathology market is done by type, applications, end-users, and products. The type-based segments of the digital pathology market are animal pathology and human pathology. The human pathology segment can surge at lucrative CAGR by 2023. The product-based segment of the digital pathology market are hardware, software, and storage. The availability of sophisticated software to execute digital pathology operations can spur the market. The application-based segments of the digital pathology market are drug discovery, disease diagnosis, Mhealth, telemedicine, and others. Increased awareness of digital pathology in Mhealth can prompt the market expansion. The end-users-based segments of the market are research centers & academic institutes, hospitals & clinics, and diagnostic centers. Diagnostics centers are high end-users of digital pathology.
Digital Pathology Market Regional Study
The global digital pathology market’s regional analysis aids investor identify several growth opportunities and regional progress of the market. The vivid understanding of the digital pathology market is the stock-on-trade for the report. The report discusses various players of a region and their strategies and contribution that can redefine the global market of digital pathology.
North America boasting of its advanced technical base increases the viability of adoption of digital pathology across hospitals and diagnostics in these regions. This is expected to bolster the expansion of the regional digital pathology market. Europe digital pathology market is expected to experience high rate of expansion due to the existence of multiple developers of digital pathology. In Asia Pacific, the growing cognizance of benefits offered by digital pathology is expected to cause the regional market to surge.
Digital Pathology Market Key Players
MRFR identified some notable companies operating in the digital pathology market. They are; Danaher Corporation (Leica Biosystems GmbH) (U.S.), Olympus Corporation (Japan), 3DHISTECH Ltd. (Hungary), Inspirata (U.S.), Koninklijke Philips N.V. (The Netherlands), Huron Digital Pathology Inc. (Canada), microdimensions GmbH (Germany), F. Hoffmann-La Roche Ltd. (Switzerland), Mikroscan Technologies, Inc. (U.S.), Definiens (Germany), and others. The report details a comprehensive study on the digital pathology marketers. MRFR sorted these players by origin, regional franchise, product line, and industrial expertise. MRFR’s SWOT analysis of the digital pathology market can also details on history, annual turnover, segmental share, profit margins, growth strategies, latest R&D initiatives, and expansion techniques of these key players.
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