Digital Pathology Market Size Worth $910.8 Million By 2025 | CAGR: 10.8%
Published Date : 28 / 10 / 17 | Report Format: PDF
The global digital pathology market is expected to grow at growth rate of 10.8% to reach USD 910.8 million by 2025.
Digital pathology is an emerging field that empowers many pathologists with a complete connected integrated digitalized pathology solution, designed to optimize workflow and productivity. This prime aim behind the integration of digital pathology is to improve the quality of disease diagnostics, and to reduce diagnosis cost. Rising incidence of chronic disease conditions, increasing introduction of novel digital pathology techniques, coupled with increasing investment of new emerging players in this market drive the market growth to great extent. For example, international organizations such as the World Health Organizations, CDSCO has stated that chronic diseases such as cancer, diabetes, cardiovascular problems and other are increasing at rapid pace across the globe. This would in turn boost the uptake of digital pathology, leading to drive market growth. On other side, lack of reimbursement for digital pathology enabled services is act as market restraint for the growth of market. Currently reimbursement policies are weak and Centers for Medicare & Medicaid Services suggests the recommendation for the improvement of these policies for encouraging quantitative, modern testing which serves to benefit the patient.
Digital pathology market is divided into technology and application segment. Technology segment is divided into Whole Slide Imaging, and Telepathology. Whereas, Telepathology segment is further categorized into Static and Dynamic. Telepathology is the method of digital pathology which uses telecommunication facilities to transfer digital images between distant locations. The telepathology market is gaining wider acceptance due to analytical and technical advancements in this sector such as digital imaging, computerization, robotic light microscopy and multiple fiber optic communications.
Application segment is categorized into Educational Research, Drug Development, and Disease Diagnosis. Disease Diagnosis market segment of digital pathology is anticipated to witness fastest growth over the forecast period owing to rising incidence rates of cancer and diabetes all over the world. Digital pathology market has been impacted by the development of whole slide imaging (WSI) technology for diagnostic purposes.
Regionally, the market is divided into North America, Europe, Asia Pacific and Rest of the World. Developed regions such as North America and Europe recorded highest share of the global market owing to the rising product demand coupled with technological advancements. On other side, developing regions such as Asia Pacific and Latin America is growing at constant growth rate over the forecast period. Increasing incidence of chronic diseases will drive the market growth in these regions. According to a report by the WHO, more than 1.41 million cancers were misdiagnosed during the year 2015-2016 and the diagnosis of cancer is projected to increase by 70% in next two decades.
The global digital pathology market is consolidated in nature. Leica Biosystems, Olympus Corporation Hamamatsu Photonics Inc., GE healthcare, Nikon Instruments Inc., Ventana Medical Systems Inc., and Phillips Healthcare, were the most dominating participants of the market in 2016. For instance, GE healthcare owing to its extensive product portfolio due to exclusive distributorship for Omynx products held the largest market share. Key factors attributing to the aforementioned conclusion include the presence of an extensive product portfolio and its wide presence globally. Such initiatives are also conducted by other major participants to capture significant share of the global market.
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- Thorough analysis of relevant statistical data to estimate the market paradigms
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The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY TECHNOLOGY
- Whole Slide Imaging
MARKET, BY APPLICATION
- Educational Research
- Drug Development
- Disease Diagnosis
MARKET, BY REGION
- North America
- Asia Pacific
- Rest of the World
MARKET, BY COUNTRY
- Further Breakdown of The North America Market
- Further Breakdown of The Europe Market
- Rest of Europe
- Further Breakdown of The APAC Market
- Rest of APAC
- Further Breakdown of The Rest of the World Market
- Middle East and Africa
- Latin America
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