The global digital pathology market has competitive vendor landscape. Some of the players operating in the global digital pathology market are OLYMPUS CORPORATION, Leica Biosystems Imaging, Inc, F. Hoffmann-La Roche Ltd, Mikroscan Technologies, Inc., GE Healthcare, Koninklijke Philips N.V., and Inspirata. Additionally, the key players are adopting strategies including mergers and acquisitions (M&A) for geographic expansion and entering into the digital pathology market. For instance, recently in Feb 2019, Neuberg Diagnostics has entered into a joint venture with US-based OptraSCAN. With this acquisition, Neuberg Diagnostics is entering into the digital pathology market across UAE, India, and South Africa.
The digital pathology market is gaining traction due to the growing adoption of the technologically advanced products coupled with a growing trend of automation in healthcare. Thanks to these factors, the global digital pathology market is estimated to attain a value of US$900 mn by 2026-end from the value US$340 mn in the year 2017. The market is expected to expand with a CAGR of 12% over the forecast period from 2018 to 2026.
Here are some pointers that can provide more information on the digital pathology market:
- Rising adoption of the digital pathology systems for accuracy and high-quality results is driving the growth of the global digital pathology market. Additionally, the growing prevalence of chronic diseases and cancer is boosting the workload of pathologists; increasing clinical trials and demand for the advanced digital pathology, which is boosting the digital pathology market.
- The high cost of the systems along with stringent regulations is hampering the growth of the global digital pathology market. However, growing advancement in the numerous devices to be used by a range of end users is expected to provide support to the growth of the global digital pathology market.
- Among end users, the demand for digital pathology is growing from the diagnostic laboratories segment; thus, the segment is leading to account for the largest share in the global digital pathology market. This growth of the segment is attributable to the growing workload of pathologists in the laboratories.
- Among the application, the diagnosis segment accounted for the leading share in the global digital pathology market in the year 2017. This growth is attributable to growing prevalence of the infections, which are creating a need for the advanced diagnostics for early detection.
- Regionally, North America is a key consumer for the digital pathology systems. The region is dominating the global market by accounting leading share in the global digital pathology market, in 2017. Europe accounted for the second-leading share in the digital pathology market. The growth of both the region is attributable to the rising adoption of the digital pathology system in the region. Additionally, less number of pathologists operating in North America is leading to boost burden on them, which is augmenting growth of the market in the region. However, Asia Pacific is expected to expand with a rapid pace due to growing demand from the developing countries including India, China, and Japan. In addition, the factors such as rising population, high prevalence cancer, and growing investment for improving healthcare are expected to boost the market over the forecast period.
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