The digital pathology market is estimated to represent a global market of USD 389.6 million by 2016 with growth rate of 10.8%. Digital pathology market is growing at constant rate over the past few years owing to the rise in awareness of different digital pathology techniques coupled with increasing introduction of novel products. Growing incidence/prevalence of chronic diseases is also considered to be a strong driving factor for the digital pathology market growth. The increasing prevalence is anticipated to increase the demand to adopt digital pathology, aiming to improve patient diagnosis and to reduce long term cost associated with the conventional diagnostics. Furthermore, aging population, technological advancements, cost effectiveness, and increasing investment of companies in this industry drive the revenue growth. For example, digital pathology is considered to provide fast and accurate detection and diagnosis for the variety of chronic diseases such as cancer, cardiac problems and others. It automatically detects the tumor at inflammatory and prolifering stromal cells stage, thereby curbing cost pertaining to the infected cell detection. It also reduces costs by reducing FISH tests and impacts the laboratory workflow positively. On other side, lack of reimbursement for digital pathology enabled services is act as restraint for the industry growth. 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.
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Digital pathology market is divided into technology and application segment. Technology segment is divided into Whole Slide Imaging, and Telepathology. Among which, Whole Slide Imaging segment is accounted for almost 61.69% share of the total market in 2016. Government support and introduction of new products support the segment growth. For instance, U.S.FDA authorized the commercialization of the PIPS (Philips IntelliSite Pathology Solution), the first whole slide imaging system that enable to interpret surgical pathology slides on the basis on biopsy tissue sample. Telepathology segment is further categorized into Static and Dynamic. Application segment is categorized into Educational Research, Drug Development, and Disease Diagnosis. Education research is recorded significant share and is continue to dominate the market over the forecast period.
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. According to data obtained from KOL from Omnyx, in U.S. over 1 billion histopathological slides are investigated each year manually which is expected to drive the growth of digital pathology in this region.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 World Health Organization, cancer diagnosis is expected to grow by 70% in the next two decades with an approximate 1.41 million cancers which are misdiagnoses across the globe.
The global digital pathology market is consolidated in nature. Major players such as Hamamatsu Photonics Inc., Leica Biosystems, and Olympus Corporation dominated the digital pathology system industry. These players accounted for more than 70% of the market share in 2016. The digital pathology market is marked by dynamic activities, such as strategic partnerships that are imperative in widening the consumer base. For example, in March 2017, Leica Biosystems entered into strategic collaboration with Leeds Hospital in order to improve workflow asn productivity.
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The market size and forecast for each segment has been provided for the period 2014 to 2025, considering 2015 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2016 to 2025 for every reported segment.
The years considered for the study are:
Historical Year – 2014 & 2015
Base Year – 2015
Estimated Year – 2016
Projected Year – 2025
Traders, Distributors, And Suppliers
Government and Regional Agencies and Research Organizations
SCOPE OF THE REPORT
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
MARKET, BY REGION
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
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