Digital Pathology Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2721
Digital Pathology Market size is expected to grow significantly from 2018 to 2024.
Digital pathology market will grow significantly in the upcoming years due to its extended use in the field of drug discovery and drug development. Integration of technology within the diagnostic digital devices have enabled quick and accurate detection of diseases. Use of such diagnostic information to develop novel drugs for developing novel drugs for diseases will impact the industry growth positively.
The digital pathology market will experience growth owing to increasing adoption of these devices to increase the laboratory efficiency. Laboratories require high precision instruments as well as digital medical devices and demand for these devices will increase due to growing burden of chronic diseases such as cancer and diabetes requiring critical care and monitoring. The mortality rates due to cancer have increased drastically and around 8.8 million people have died of cancer. Rising concerns regarding increasing deaths due to cancer is responsible for development of advanced technology such as digital pathology.
Utilization of advanced technology to develop such digital devices will further escalate the market growth. The immediate results and accurate interpretations have made disease diagnostic consultations easy and convenient thereby enhancing the business growth. In addition to this, major key leaders have focused their efforts on manufacturing superior quality scanners and other digital pathology devices driving the market growth. However, the industry growth will be affected due to high costs associated with the digital medical devices. High costs will lead to affordability issues in the emerging economies that have comparatively low-income levels.
Software business segment will lead the market owing to availability of user-friendly and reliable software that enable highest accuracy within the digital devices. Moreover, increasing patient load will increase the demand for such software that enhance the growth of software segment escalating the overall industry growth.
Human pathology business will dominate the market owing to growing burden of chronic viral diseases such as cancer, hepatitis A, hepatitis B and chicken pox that will impact the business growth positively. These viral diseases require critical monitoring and care that is possible due to accurate consultations provided by the digital pathology devices.
Teleconsultation business segment will have enormous revenue share due to increasing application of digital pathology in consulting the geriatric population. Increasing geriatric population that is more susceptible to chronic diseases has enhanced the demand for teleconsultation that is convenient.
Disease diagnosis will witness high growth in upcoming years owing to increasing number of viral as well as bacterial diseases that require critical monitoring and intensive care. Digital pathology devices provide accurate diagnosis improving patient’s, proving beneficial for industry growth.
Hospitals and reference laboratories held considerable market share owing to increasing viral and bacterial infections globally. In U.S., alone, Salmonella infections affects around 1.2 million people every year that has driven the business growth.
U.S. will account to the largest market share owing to increasing advancements in technology that aid improvisations in the medical digital pathology devices thus increasing the demand for pathology services and boosting the industry growth. Moreover, growing geriatric population that relies on teleconsultation provided by the pathology laboratories will drive the industry growth.
Germany will drive the industry growth due increasing disposable income that enhances the healthcare expenditure capacity of the population. Technologically advanced digital pathology devices are costly and increase the cost of pathological procedures that are affordable for the individuals living in Germany due to high income levels.
Major industry players Leica Biosystems, Biogenuix, Ventana Medical Systems, Hamamatsu Photonics, 3DHISTECH, Koninklijke Philips, Apollo Enterprise Imaging, XIFIN, Huron Digital Pathology, Visiopharm, Corista , Indica Labs, Objective Pathology Services. These key manufacturing players undertake certain strategic initiatives such as new product launches or mergers and acquisitions to sustain the market competition. For instance, Leica biosystems launched a new devices Aperio Digital Pathology Slide Scanner enhancing the accuracy of diagnostic decisions thereby generating revenue for the company.
Digital Pathology Market by Product, 2013-2024 (USD Million)
- Communication systems
- Storage systems
Digital Pathology Market by Type, 2013-2024 (USD Million)
- Human Pathology
- Veterinary Pathology
Digital Pathology Market by Application, 2013-2024 (USD Million)
- Disease diagnosis
- Drug discovery
- Training and education
Digital Pathology Market by End-use, 2013-2024 (USD Million)
- Pharmaceutical and biotechnology companies
- Hospital and reference laboratories
- Academic and research institutes
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
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