The global digital pathology market size is expected to reach USD 1.86 billion by 2027, registering a CAGR of 11.8% over the forecast period, according to a new report published by Grand View Research, Inc. Increasing prevalence of chronic diseases triggers the demand for advanced diagnostics, which is expected to drive the market growth. Growing economic stability and awareness pertaining to the benefits of using Computer-Aided Diagnostics (CAD) is further contributing to the growth.
Technological
advancements, such as digital imaging, computerization, robotic light
microscopy, and multiple fiber optic communications are some of the key factors
driving the adoption of digital pathology. In addition, the introduction of
cloud-based technology enabling storage of digital slides coupled with secure
access to pathologists is expected to serve as a potential growth driver for
the market.
Digital
pathology has an important role in companion diagnostics and drug development
pipeline, including molecular biology, biobanking, molecular tissue profiling,
and tissue microarray analysis. Increasing demand for high-quality tissue
samples in tissue-based biomarker research is expected to propel the adoption
of the technology over the forecast period.
The
market is expected to witness intense competition in near future owing to the
rising adoption of rigorous strategies by the market players to sustain
competition. For instance; whole slide imaging system manufacturers focus on
obtaining premarket approval for diagnostic digital systems to capture greater
revenue share.
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Digital Pathology
Market Report Highlights
- Devices held the dominant
market share in 2019 owing to increased use in academic research
- The rising implementation of
slide management system in stratified medicine and tissue-based biomarker
research is one of the key contributing factors for the dominance of this
technology
- The software segment is
expected to witness lucrative growth in the near future as the product
assists in faster diagnosis and synchronization of patient data, where
healthcare professionals can remotely access this information
- Digital pathology is
increasingly used in academic research owing to various benefits, such as
cost-effectiveness and rapid results
- The disease diagnosis
segment is expected to witness lucrative growth over the forecast period
owing to the increasing prevalence of cancer and demand for noble
diagnosis techniques
- The availability of unified
platforms for workflows in pathology is anticipated to boost the usage of
computer-aided imaging technology in academic research, which is
anticipated to boost the segment growth
- Hospital led the end-use
segment in 2019 owing to the increasing adoption of digital pathology
- The digital pathology market
is expected to remain innovation-led, with frequent acquisitions and
strategic alliances. New product development and well-established
distribution channels are key to the competitive advantage of leading
players
- An increasing usage rate of
the digital imaging systems to facilitate faster diagnosis, particularly
of chronic diseases; the increased uptake of these products serves as the
key driver of this market
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Digital Pathology
Market Segmentation
Grand View Research has segmented
the global digital pathology market on the basis of the product, application,
end-use, and region:
Digital Pathology
Product Outlook (Revenue, USD Million, 2016 - 2027)
- Software
- Device
- Scanners
- Slide Management System
- Storage System
Digital Pathology
Application Outlook (Revenue, USD Million, 2016 - 2027)
- Drug Discovery &
Development
- Academic Research
- Disease Diagnosis
- Cancer Cell Detection
- Others
Digital Pathology
End-use Outlook (Revenue, USD Million, 2016 - 2027)
- Hospitals
- Biotech & Pharma
Companies
- Diagnostic Labs
- Academic & Research
Institutes
Digital Pathology
Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Italy
- France
- Russia
- Spain
- Netherlands
- Switzerland
- Sweden
- Asia Pacific
- Japan
- China
- India
- Indonesia
- Thailand
- Australia
- South Korea
- Philippines
- Malaysia
- Singapore
- Latin America
- Brazil
- Mexico
- Argentina
- The Middle East and Africa
- South Africa
- Saudi Arabia
- Turkey
- Iran
- UAE
- Israel
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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