Global digital pathology market is expected to reach USD 692.5 million by 2022, according to a new study by Grand View Research, Inc. Increasing automation in the field of in vitro diagnostics especially pertaining to pathology is expected to drive the growth of the digital pathology market over the forecast period. Growing prevalence of chronic diseases such as cancer is further expected to heighten the demand for faster and accurate diagnostic tools. Growth in the penetration rates of EHR in the North American and European regions is also likely to have a positive impact on market growth over the forecast period. Inherent advantages associated with digital pathology systems are expected to boost usage rates. Consumers are expected to initiate the use of digital pathology systems in an attempt to curb costs, render improved patient care, improve workflow system and minimize human error related incidences.
Whole slide imaging is expected to grow at a lucrative rate. The technology renders high resolution digital images with multiple magnifications in a shorter period of time and this is expected to promote usage rates over the forecast period.
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Further key findings from the study suggest:
- Digital pathology services found the largest application in disease diagnosis in 2014. Increasing prevalence of cancer & other chronic diseases heightening the demand for accurate and faster diagnostic tools and greater applicability are some factors accounting for its large share.
- North America was the most matured regional digital pathology market in 2014 and accounted for over 40.0% of revenue. Presence of sophisticated healthcare infrastructure favoring the implementation of electronic medical records and growing demand for device automation is some factors responsible for its large share.
- Asia Pacific region on account of the presence of large untapped opportunities, rapidly improving healthcare infrastructure and increasing usage of digital pathology in academics and research is expected to provide this market with lucrative future growth opportunities.
- Some key players of digital pathology services include GE Healthcare, 3DHistech Inc., Leica Biosystems, Ventana Medical Systems, Inc., Philips Healthcare, Definiens, Olympus Corporation, Omynx LLC, Objective Pathology Services, LigoLAb LLC, Hamamatsu Photonics Inc., and MicroSkan Technologies.
- Providing technologically advanced pathological systems & services and capitalizing on the untapped opportunities via strategic collaborations are some key strategic moves adopted by these market players.
For the purpose of this study, Grand View Research has segmented the global digital pathology market on the basis of technology, application and region:
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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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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