According to the report “Global Digital Pathology Market,” published by Market Data Forecast, the global market is projected to reach USD 576.83 million by 2021, at a CAGR 11.54% from 2016 to 2021.
Digital pathology is defined as an image-based information environment for the management, analysis, and the interpretation of the information achieved from a digital slide. In short, the digitalization of conventional pathology lab is referred as digital pathology. This technology has gained momentum in the global medical and healthcare industry, owing to the improvements it brings in a number of application such as drug discoveries and their development, multi-functionalities in instruments, diagnostic tests and other research applications.
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Global Digital Pathology Market: Drivers & Restraints
Rise in cancer incidences, increasing tele-consultations, high efficiency of digital pathology systems, increased adoption rate, increasing government and industry player’s initiatives are paving the way for overall growth of the digital pathology market globally. On the other hand, barriers such as stringent regulatory concerns for primary diagnosis, nonexistence of standard guidelines for digital pathology, lack of reimbursement and skilled personnel are some of the major factors likely to restrain the market growth. However, rising need for integrated healthcare facilities which can be achieved through establishing digital pathology systems would offer profitable growth opportunities for the service providers in the future if they can overcome threats like high cost of establishing new technology or infrastructure.
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Global Digital Pathology Market: Segmentation
- Human Digital Pathology
- Animal Digital Pathology
- Communication Systems
- Storage Systems
- Disease Diagnosis
- Drug Discovery
- Training and Education
By End User
- Pharmaceutical Companies
- Academic Institutes
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Global Digital Pathology Market: Overview
Digital pathology industry is consolidating, as players in the industry are entering into partnerships, mergers and acquisitions and well-planned distribution strategies to capitalize on the overall opportunities present in untapped markets in Latin America and Eastern Europe. While Scanners segment accounts for the largest market share in 2015, software segment is surely catching up to it growing fast paced with the development of technology. Revenue from the global digital pathology market is expected to expand at a significant CAGR in regions such as Western Europe and North America over the forecast period.
Though this market is growing at a significant rate, the high cost of digital pathology scanners and software along with cost of implementation services, coupled with ambiguity regarding regulations for the use of digital pathology systems in primary diagnosis is proving to be a major restraint for overall growth of the market.
Global Digital Pathology Market: Region-wise Outlook
On the other hand, based on geography it is segmented and analysed under the regions of North America, Europe, Asia-Pacific, Latin America and Middle-East and Africa. While North America accounts for the largest share of the global digital pathology market closely followed by Europe the development is concentrated around the region od Asia-Pacific.
Key Questions Answered
- What is the industry growth forecast from 2016 to 2021?
- What is the current and future e-Health Market outlook worldwide? What trends are affecting the Global market?
- What is the competitive landscape and market share of major players in the Digital Pathology Market space globally?
- What are the technology & innovation trends, how will they evolve by 2021 ?
- What are the key, high growth markets that Digital Pathology manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Digital Pathology currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Digital Pathology?
- What are the challenges and barriers that have hindered widespread adoption of Digital Pathology?
Global Digital Pathology Market: Key Players
Some of the key players operating in the market include Perkin Elmer, Inc., Definiens AG, Sectra AB, Koninklijke Philips N.V, GE Healthcare, Inspirata Co., Ventana Medical Systems, Inc., Leica Biosystems, 3D-Histech Ltd, Hamamatsu Photonics, K.K., Digipath Co., ZEISS, Olympus Corporation, Yokogawa Electronic Corporation and Quorum Technologies Inc.
Reasons to buy Global Digital Pathology Market Report:
• Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
• Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
• Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
• A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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Market Data Forecast
Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. Our analyst team comprises expert professionals in market research, who with their collective knowledge and skillset dedicatedly serve clients from various industries and regions.