Growing preference for computer aided diagnosis to drive the growth of global digital pathology market
According to TechSci Research report, “Global Digital Pathology Market By Component (Software, Scanner, Services), By Technology (Whole Slide Imaging, Storage, Communication & Integrated Platforms, Image Analysis-Informatics, Others), By Type (Human v/s Veterinary), By Application (Drug Discovery, Disease Diagnosis, Teleconsultation, Training & Education, Others), By End Users (Hospitals & Clinics, Biotechnology & Pharmaceutical Companies, Research Laboratories, Contract Research Organizations, Others), By Region, Forecast & Opportunities, 2025”, the global digital pathology market is expected to grow at a formidable rate during the forecast period on account of the increasing adoption of digital pathology to enhance the lab efficiency. Additionally, digital pathology offers scrutiny and analysis of images on computer, high resolution sample screening and online storage of digital slides which enables the pathologists to cross examine the slides without any physical evidence. Furthermore, growing application of digital pathology in drug discovery and development is fostering the growth of market, globally. Moreover, benefits such as ease of virtual transportation of slides and high efficiency of the technique positively impacts the growth of market. However, lack of trained and skilled pathologists can hamper the growth of market during forecast period. Also, lack of adoption and use of this technique over the conventional ones might negatively impact the market growth. Moreover, high cost of software and scanners might further restrict the growth of market over the next few years.
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The global digital pathology market is segmented based on component, technology, type, application, end user, company and region. Based on component, the market can be categorized into software, scanner and services. The scanners are expected to dominate the market over the next few years owing to the benefits offered by them such as assistance in analyzing multitude of images with ease and help in studying morphologies and images. Additionally, growing adoption of digital pathology around the globe and recent regulatory approvals grants by the FDA are further anticipated to drive the growth of segment through 2025. Based on type, the market can be bifurcated into human and veterinary. The human segment is expected to dominate the market owing to the growing prevalence of chronic diseases such as cancer, cardiac disorder, diabetes, renal disorders, among others. Based on application, the market can be grouped into drug discovery, disease diagnosis, teleconsultation, training & education and others. The disease diagnosis is expected to hold the largest market share over the next few years on account of the increase in number of patients suffering from chronic diseases, while the teleconsultation segment is expected to grow due to increase in geriatric population suffering from various diseases. Based on end user, the market can be fragmented into hospitals & clinics, biotechnology & pharmaceutical companies, research laboratories, contract research organizations and others. The biotechnology & pharmaceutical companies are expected to register the highest CAGR in the market on account of the increasing use of digital pathology for drug discovery studies and drug toxicology testing. Additionally, they deliver well organized, documented, retrieved and logistical pathological procedures.
Leica Biosystems, Koninklijke Philips N.V., Hamamatsu Photonics, F. Hoffmann-La Roche AG, 3DHISTECH, Apollo Enterprise Imaging, XIFIN, Huron Digital Pathology, Visiopharm A/S, Corista, Indica Labs, Objective Pathology Services, Sectra AB, OptraSCAN, Glencoe Software, KONFOONG BIOTECH INTERNATIONAL CO., LTD, Inspirata, Inc., Mikroscan Technologies, Proscia Inc., Kanteron Systems and others are some of the leading players operating in global digital pathology market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. For instance, in 2018, F. Hoffmann-La Roche AG launched VENTANA DP 200, a high speed slide scanner for digital pathology. The scanner can produce high quality images attributable to its tray based design.
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“Asia-Pacific is expected to witness significant growth in the digital pathology market during the forecast period, owing to the increasing awareness related to digital pathology systems in the region. Additionally, increasing number of people suffering from chronic diseases such as cancer, diabetes, cardiovascular diseases, among others in the region is further anticipated to spur the market through 2025. Furthermore, increasing healthcare expenditure coupled with improving healthcare IT infrastructure in the region is expected to create lucrative opportunities for the players in market over the next few years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Digital Pathology Market By Component (Software, Scanner, Services), By Technology (Whole Slide Imaging, Storage, Communication & Integrated Platforms, Image Analysis-Informatics, Others), By Type (Human v/s Veterinary), By Application (Drug Discovery, Disease Diagnosis, Teleconsultation, Training & Education, Others), By End Users (Hospitals & Clinics, Biotechnology & Pharmaceutical Companies, Research Laboratories, Contract Research Organizations, Others), By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of global digital pathology market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global digital pathology market.