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Digital Pathology Market Overview
Market Research Future (MRFR), in its latest “Digital Pathology Market” report, mentions that the market poised to attain USD 8,305 Mn at 13.04% CAGR by 2023. Digital pathology consist of equipment used to capture, analyze, interpret, and manage information obtained from pathology slides, digitally. Digital pathology has a wide range of application in human pathology, tissue-based research, and drug development. The increase in pathologists and the growing awareness of benefits offered by digital pathology are expected to drive the global digital pathology market across the forecast period. The high rate of adoption of electronic health records and the increase in the integration of automation technology can expedite the expansion of the digital pathology market in the years to come. Technological improvements and adoption of effective analytical software are other drivers that are likely to cause surge in the global digital pathology market. The increase in adoption of digital pathology solutions by hospitals and clinics can also bolster the expansion of the global market. However, high implementation expense of digital pathology and stringent regulatory norms can limit the market expansion.
Digital Pathology Market Segmentation:
The global digital pathology market is segmented on the basis of type, product, application, and end-users. Based on type, the global digital pathology market is segmented into human pathology and animal pathology. The human pathology segment commands for the major share of 65% in the global digital pathology market due to the high prevalence of chronic diseases among humans. This segment is projected to reach the valuation of USD 5,475.4 Mn by the end of 2023. Based on product, the global digital pathology market has been segmented into hardware, software, and storage. The hardware segment commands for the maximum share of the global digital pathology market and is anticipated to reach the valuation of USD 6,031.9 Mn by the end of 2023.
Based on application, the global digital pathology market is segmented into disease diagnosis, Mhealth, drug discovery, and telemedicine. The disease diagnosis segment is leading the global digital pathology market with the valuation of USD 2,650 Mn by the end of the forecast period. Based on end-users, the global digital pathology market has been segmented into hospital & clinic, diagnostic centers, and research centers & academic institutes. The research centers and academic institutes segment is expanding at the fastest growth rate in the global digital pathology market and is anticipated to reach the valuation of USD 3,778.4 Mn by the end of the assessment period.
Digital Pathology Market Regional Analysis:
Geographically, the global digital pathology market size is segmented into four major regions such as the Americas, Europe, Asia Pacific, and the Middle East and Africa. The Americas has emerged as a leading region in the global digital pathology market owing to the increased adoption of technologically advanced solutions in the healthcare sector for accurate and faster diagnosis, high prevalence of chronic diseases and increased healthcare expenditure by the population in this region. Presence of large number of major players and increased research and development for the introduction of advanced diagnostic techniques in the well-developed healthcare sector are fueling the growth of the global digital pathology market in the Europe region. The Asia Pacific region is expanding at the highest CAGR of 13.53% during the assessment period owing to the increasing healthcare expenditure and rapid development of healthcare sector in the emerging economies of this region. Lack of awareness and absence of primary healthcare facilities are resulting in the poor growth of the digital pathology market in the Middle East and Africa region.
Digital Pathology Market Competitive Dashboard
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.
Digital Pathology Industry Updates:
In December 2018, OptraSCAN, a provider of on-demand digital pathology, has collaborated with Deenanath Mangeshkar Hospital and Research Centre to deploy OptraSCAN's affordable digital pathology solution equipped with artificial intelligence and machine learning technologies.
In December 2018, Inspirata, a Europe based cancer informatics and digital pathology workflow solution provider, has entered into a partnership with Hamamatsu Photonics, a Japanese manufacturer of optical sensors, electric light sources and other devices for scientific and medical use.
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