The global digital pathology market is anticipated to expand at a CAGR of more than 12.0% in the forecast period 2019–2027, states a research report by Transparency Market Research (TMR). The market for digital pathology is projected to reach the valuation of US$ 1.08 Bn by 2027 end.
The study by TMR gives bird’s-eye view of the global digital pathology market. Therefore, readers gain access to key information and assessment on many important aspects shaping the market growth such as expansion opportunities, drivers, challenges, R & D activities, and trends in the market for digital pathology.
In recent period, a rise in the prevalence of various chronic diseases is observed across the globe. This scenario is resulting into increased need for varied advanced therapeutics, and thereby boosting the demand for latest medicines and drugs. As a result, there is significant growth in the number of R & D activities in the healthcare and pharmaceutical industries, which in turn, is anticipated to boost the growth of the global digital pathology market in the years to come.
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With notable increase in the number of various exhibitions and trade fairs, there is growth in awareness regarding the advantages of digital pathology solutions. This factor is fueling the expansion opportunities in the digital pathology market.
Digital pathology refers to image-based platform that includes analysis, management, and interpretation of digital information present on a digitized slide. Over the period of past few years, there is significant growth in the use of digital pathology technologies across several application areas including oral pathology, human pathology, and forensic pathology.
Increased use of digital pathology in order to modernize the activities and overall workflow of pathologists and diagnostic laboratories is expected to boost the market growth in the years to come.
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Players in Digital Pathology Market Utilize Different Strategic Moves to Expand Their Businesses
- Hoffmann-La Roche Ltd, OLYMPUS CORPORATION, Leica Biosystems Imaging, Inc, Koninklijke Philips N.V., Mikroscan Technologies, Inc., Inspirata, and Sectra AB are some of the key players working in the global digital pathology market. Thus, the presence of many players signifies highly intense competition in the market.
Leading players in the digital pathology market are growing participation in different strategic moves such as development of technologically advanced products, regulatory approvals, acquisition, launch of new products, and collaborations. These tactics are expected to help enterprises to strengthen their businesses, and thereby boosting the overall growth of the global digital pathology market.
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Players Expected to Gather Promising Expansion Opportunities in North America Market
Europe, Middle East and Africa, Asia Pacific, North America, and Latin America are several important regions for the global digital pathology market. Of them, North America is dominant region of the market for digital pathology.
The North America digital pathology market is projected to witness prominent growth avenues in the upcoming years. Some of the key factors that are likely to help in the market expansion include presence of well-developed healthcare infrastructure, early acceptance of advanced solutions, and large number of patient pool in the region.
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Global Digital Pathology Market Segmentation
The segmentation of the global digital pathology market is performed on the basis of various key parameters such as product type, applications, end-users, and region. Based on product type, the market for digital pathology is classified into two parts, namely, image analysis software and scanner.
On the basis of end-users, the market for digital pathology is divided into several sections including academic & research centers, diagnostic laboratories, pharmaceutical companies, and others. In terms of applications, the segmentation of digital pathology market is performed into many parts such as consulting services, educational, diagnosis, and others.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Digital Pathology Market (Product Type – Image Analysis Software and Scanners; End use – Diagnostic Laboratories, Academic and Research Centers, Pharmaceutical Companies; Applications – Diagnosis, Consulting Services, Educational) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027.”
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