Digital Pathology Market Analysis and Growth Forecast
Global digital pathology market is expected to grow at a formidable rate during the forecast period. The global digital pathology market is driven by the increasing prevalence of diseases especially chronic diseases such as cancer, diabetes, renal diseases, cancer, hepatitis, among others. This has drastically increased the number of patients suffering from these diseases, thereby increasing the need to adopt digital methods of diagnosis which increase the efficiency of diagnosis thereby driving the growth of market. Furthermore, increasing expenditure by the key vendors operating in the industry on laboratory expansion and enhancement is anticipated to positively impact the growth of market over the next few years.
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 software segment is expected to register the highest growth during forecast period owing to the availability of user friendly software with analytical and advanced functions for pathology diagnosis. Based on application, the market can be grouped into drug discovery, disease diagnosis, teleconsultation, training & education and others. The drug discovery segment is expected to dominate the market through 2025. This can be ascribed to the growing R&D expenditure by the major players operating in the market on account of the increasing need for numerous preclinical and clinical studies for drug discovery process. Based on end user, the market can be fragmented into hospitals & clinics, biotechnology & pharmaceutical companies, research laboratories, contract research organizations and others. The hospitals & clinics segment is expected to dominate the market over the next few years owing to the increase in the number of hospitals & clinics incorporating this technique of diagnostics over the conventional ones.
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Regionally, the digital pathology market has been segmented into Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, North America is expected to dominate the overall digital pathology market owing to the growing prevalence of chronic diseases in the region. Additionally, favorably reimbursement policies and government support & initiatives are further anticipated to propel the growth of market in the region.
Major players operating in the global digital pathology market include 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. The companies are developing advanced technologies and launching new services in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Objective of the Study:
- To analyze and estimate the market size of global digital pathology market from 2015 to 2018.
- To estimate and forecast the market size of global digital pathology market from 2019 to 2025 and growth rate until 2025.
- To classify and forecast global digital pathology market based component, technology, type, application, end user, company and regional distribution.
- To identify dominant region or segment in the global digital pathology market.
- To identify drivers and challenges for global digital pathology market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global digital pathology market.
- To identify and analyze the profile of leading players operating in global digital pathology market.
- To identify key sustainable strategies adopted by market players in global digital pathology market.
