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Posted by smithmorgan on August 14, 2024 at 5:54pm 0 Comments 0 Likes
Posted by smithmorgan on August 14, 2024 at 5:52pm 0 Comments 0 Likes
Global Digital Pathology Market Size, Share, Growth, Industry Trends and Forecast 2020-2030
Global Digital Pathology Market accounted USD 721.7 million in 2020 and is anticipated to reach USD 2281.7469 million by 2030, at a CAGR of 12.2% during the forecast period. It is an innovation predominantly committed to minimize laboratory expenses, increase operational efficiency, improving treatment decisions and patient care, and improved overall productivity. This technique incorporates the management, acquisition, sharing and interpretation of pathology information — which include slides and data — in a digital environment. Digital slides are produced when glass slides are apprehended with a scanning device, to deliver a high-resolution digital image that can be observed on a computer screen or mobile device. Virtual microscopy is a part of the market which enables to practice converting glass slides into digital slides that can be viewed, managed, shared and analyzed on a computer monitor. Among other applications of the market, digitalization of pathology has led to the mechanization of tests during disease diagnosis. The market proposes analysis & interpretation of images on a computer, high-resolution sample scanning, and online storage of digital slides, which enable pathologists to cross-examine slides without physical evidences. These digitized slides are presently considered as one of the most promising areas of diagnostic medicine in order to achieve accurate, feasible and faster diagnosis, prognosis and prediction of cancer and other important diseases. It is progressively used by large biopharmaceuticals and top clinical research organizations (CROs) to rationalize drug progress methods in discovery, pre-clinical and clinical trials.
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Market Dynamics and Factors:
According to WHO cancer facts and figures, in 2018, approximately 1,735,350 new cases of cancer were diagnosed in the United States and it is anticipated that approximately 609,640 people will die from the disease. Rising severity of cancer is projected to create a high demand for the market. Biotech and pharma companies are predicted to show a stable growth during the forecast period. The growth is credited to enlarged use digitized slides in drug development, oncology clinical trials, and preclinical GLP pathology. The increasing application in drug discovery, increasing number of tele-consultations, rising adoption of technology to improve lab efficiency, and companion diagnostics are driving the market globally. However, unclear reimbursement policies, dearth of skilled personnel, and unwillingness of older pathologists to adopt new technology hamper the digital pathology market growth. Moreover, large hospitals with significant capital budgets can afford these systems, pathologists and academic institutes with limited budgets or IT support often cannot afford them. This limits the uptake of these systems. On the other hand, rise in initiatives toward commercialization of cost-efficient systems and increasing R&D is anticipated to offer profitable growth opportunities the market and its service providers in the future.
Market Segmentation:
Global Digital Pathology Market – By Product
Scanners
Software
Storage & Communication Systems
Global Digital Pathology Market – By Application
Tele-Consultation
Disease Diagnosis
Drug Discovery
Academic Research
Diagnosis
Global Digital Pathology Market – By End-User
Educational
Clinical
Pharmaceutical Industries & Biotech Companies
Global Digital Pathology Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
In 2018, North America held the largest market share in terms of revenue and it is expected to dominate the overall market throughout the forecast period. The presence of high per capita healthcare expenditure, Continual deployment of R&D investments, and the well-established IT and healthcare infrastructure and the presence of major players are the key contributing factors contributing to the growth of the market in the region. Furthermore, clinical segment will show fastest market growth due to rise in number of clinics incorporating digital pathology over traditional pathology, which is expected to augment the market growth. Moreover the surge in adoption of modern technology over the traditional methods boost the growth of the market in North America. However, Asia-Pacific is expected to record itself as highest growing segment during the forecasted period, at a CAGR of 13.4%; in the near future, owing to emergence in awareness related to the market. The other factors that propel the growth of the market comprise the existence of huge patient’s base suffering from chronic & infectious diseases and rise in healthcare expenditure in the region. Furthermore, the constantly evolving life science industry is anticipated to offer lucrative opportunities for the market expansion in the developing economies such as India, China, and Malaysia. Asia Pacific is expected to register the fastest CAGR of over 12% during the forecast period due to the rising penetration of digital imaging in emerging economies, investments in the medical field, and the presence of available opportunities like increased RnD activities and various government initiatives towards healthcare. The healthcare industry in this region has highly influenced the market due to increased incidence of cancer, which affects a large population. Similarly, increasing demand for novel treatment options, reduction in laboratory expenses, and better patient care facilities are expected to further drive the demand.
Competitive Scenario:
The major players operating in the market include Leica Biosystems, Ventana Medical Systems, Hamamatsu Photonics, 3DHISTECH, Philips, Apollo Enterprise Imaging, XIFIN, Visiopharm, Corista, Huron Digital Pathology, Objective Pathology Services, and Indica Labs.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Digital Pathology industry, although key threats, opportunities and disruptive technologies that could shape the Global Digital Pathology Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Digital Pathology Market most.
The data analysis present in the Global Digital Pathology Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Digital Pathology Market business.
The 2021 Annual Global Digital Pathology Market offers:
100+ charts exploring and analysing the Global Digital Pathology Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Digital Pathology Market type
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Decision Foresight is a market research organization known for its reliable and genuine content, market estimation and the best analysis which is designed to deliver state-of-the-art quality syndicate reports to our customers. Apart from syndicate reports, you will find the best market insights, strategies that will help in taking better business decisions on subjects that may require you to develop and grow your business-like health, science, technology and many more. At Decision Foresight, we truly believe in disseminating the right piece of knowledge to a large section of the audience and cover the in-depth insights of market leaders across various verticals and horizontals.
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