New York, NY -- (SBWIRE) -- 03/17/2021 -- Based on current analysis the global digital pathology market was valued at USD 463.2 million in 2018 and is expected to reach USD 1180.2 million by 2026, at a CAGR of 12.2%. Digital pathology is an innovation predominantly committed to improve operational efficiency, minimization of laboratory expenses, enhanced productivity, improving treatment decisions and patient care. Interpretation of pathology information generated from a digitized glass slide is known as digital pathology. Virtual microscopy is a part of digital pathology which enables to practice converting glass slides into digital slides that can be viewed, managed, shared and analyzed on a computer monitor. Digital pathology is presently considered as one of the most promising areas of diagnostic medicine in order to achieve accurate, feasible and faster diagnosis, prognosis and prediction of cancer and other important diseases. Market drivers for digital pathology market are growing applications of digital pathology, ease of consultation, increasing implementation of digital pathology to boost lab efficiency, rising prevalence of cancer, and increasing interventions by governments and initiatives by key industry players.
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Leading Players Profiled in the Report Include:
Leica Biosystems, Ventana Medical Systems, Hamamatsu Photonics, 3DHISTECH, Philips, Apollo Enterprise Imaging, XIFIN, Visiopharm, Corista, Huron Digital Pathology, Objective Pathology Services, and Indica Labs
Rigid regulatory requirements, high cost of systems and sampling errors are some factors that are anticipated to hold back the global digital pathology market during the forecast period. North America is anticipated to dominate the market during the forecast period owing to, technological progressions, R&D investments and continuous government support.
Key findings from the report
There were an estimated 15.5 million cancer survivors in the United States. The number of cancer survivors is expected to increase to 20.3 million by 2026. Due to increase in the chances of survival, it is expected to increase the market revenue of digital pathology
Biotech and pharma companies are predicted to showcase a stable growth during the forecast period. The growth is credited to enlarged use of digital pathology in drug development, oncology clinical trials, and preclinical GLP pathology. Cumulative occurrence of cancer and demand for better treatment options is further fueling the market
Teleconsultation segment in applications of digital pathology market is estimated to account for the highest share of 45.8% in the market due to accessibility to patients in remote areas with specialist pathological consultation
Asia-Pacific regional segment of the digital pathology market is expected to register itself as highest growing segment during the forecasted period, at a CAGR of 13.4%; owing it to the qualitative as well as quantitative market potential offered in developing nations such as China & India
Owing to increasing adoption of digital pathology solution worldwide, the scanners segment is expected to dominate the digital pathology market with growing CAGR of 11.7%
In 2018, an estimated 1,735,350 new cases of cancer were diagnosed in the United States and it is anticipated that approximately 609,640 people will die from the disease. Thus, it is likely to prosper the digital pathology market due to high prevalence of the target disease
Roughly 38.4% of men and women are likely to be diagnosed with cancer at some point during their lifetimes. In 2017, it was estimated that around 15,270 children and adolescents ages 0 to 19 were diagnosed with cancer and 1,790 died of the disease
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For the purpose of this study, the market is segmented on the basis of type, applications, products, end use and regions:
Product (Revenue in USD Million; 2016–2026)
scanners
software
communication systems
slide management systems
storage systems
Type (Revenue in USD Million; 2016–2026)
Human pathology
Veterinary pathology
Applications (Revenue in USD Million; 2016–2026)
Teleconsultation
Disease Diagnosis
Drug Discovery and development
Cancer cell detection
Others
End Use (Revenue in USD Million; 2016–2026)
Pathology labs
Pharmaceutical & Biotechnology Companies
Hospitals
Academic & Research Institutes
Regional Outlook (Revenue in USD Million; 2016–2026)
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018 – 2026
Chapter 3. Indicative Metrics
3.1. Rising prevalence of cancer
3.2. Rapid access to prior cases
3.3. Global burden of cancer disorders
3.4. Worldwide increase in patient pool
Chapter 4. Global Digital Pathology Segmentation & Impact Analysis
4.1. Global Digital Pathology Segmentation Analysis
4.2. Global Digital Pathology Market Value Chain Analysis, 2016-2026
4.3. Regulatory framework
4.4. Global Digital Pathology Market Impact Analysis
4.4.1. Market driver analysis
4.4.1.1. High prevalence cancer across the world
4.4.1.2. Launch of technologically advanced devices
4.4.1.3. Reduced errors
4.4.2. Market restraint analysis
4.4.2.1. Lack of awareness
4.4.2.2. Risk of misidentification
4.5. Key opportunities prioritized
4.6. Global Digital Pathology Pricing Analysis
4.7. Industry analysis - Porter's
4.8. Global Digital Pathology PESTEL Analysis
Continued…
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