Transparency Market Research’s recent report on the global digital pathology market highlights the increasing awareness and demand for advanced technology as key growth drivers. Furthermore, the high prevalence of cancer and other chronic diseases is expected to further fuel market growth. The market, valued at US$ 0.38 billion in 2018, is projected to grow at a CAGR of over 12.0% to attain US$ 1.08 Bn from 2019 to 2027.
Key Drivers of Global Market:
- Cancer remains a significant global health concern, with an estimated 9.6 million deaths and 18.1 million new cases recorded worldwide in 2018, according to the World Health Organization.
- The increasing prevalence of cancer is attributed to factors such as an aging population and unhealthy lifestyles, with the number of older adults aged 85 and above expected to triple by 2060.
- Breast, lung, and prostate cancers are the most commonly diagnosed types in industrialized nations like the U.S., U.K., and Japan, driving demand for digital pathology systems.
- Digital pathology systems aid in preclinical studies and clinical trials by reducing errors, storing drug data, integrating data into electronic health records (EHRs), and evaluating patient responses to treatments.
- The emphasis on research and development for drug discovery has led to a surge in clinical and preclinical trials, fueling the growth of the global digital pathology market. Academic and research institutes’ increased research activities also contribute to market growth.
Competitive Landscape:
Leica Biosystems Imaging, Inc,OLYMPUS CORPORATION,F. Hoffmann-La Roche Ltd,Mikroscan Technologies, Inc.,Koninklijke Philips N.V., Sectra AB and Inspirata
Segmentation:
Product Type
- Image Analysis Software
- Scanner
Applications
- Diagnosis
- Consulting Services
- Educational
- Others
End-user
- Diagnostic Laboratories
- Academic & Research Centers
- Pharmaceutical Companies
- Others
Key Developments:
- In February 2019, Neuberg Diagnostics and OptraSCAN Inc. announced the launch of Global TELEPath Network for the pathologist community in UAE, India and South Africa under a new joint venture namely Neuberg DIGIPATH. This is enabled to increase focus on providing advanced and affordable digital pathology solutions
- In March 2018, F. Hoffmann-La Roche Ltd announced the launch of VENTANA DP 200 slide scanner for digital pathology. The slide scanner is high speed and produces images with high image quality. The launch of the product will broaden the product portfolio of the company and strengthen its position in digital pathology market.
- In January 2018, Inspirata announced that it has acquired the company Omnyx from GE healthcare. The acquisition of the company will ensure that Inspirata has the one of the most comprehensive digital pathology solution work flow
Regions Covered:
North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)
Market Trends:
- Integration of artificial intelligence (AI) and machine learning (ML) algorithms for automated image analysis.
- Emergence of cloud-based digital pathology platforms for remote access and collaboration.
- Expansion of telepathology services for decentralized diagnostics and consultation.
Future Outlook:
The digital pathology market is poised for continued expansion, driven by technological innovations and increasing demand for personalized medicine. Advancements in AI, telepathology, and molecular pathology are expected to further propel market growth, offering new avenues for improved patient care and disease management.
Key Market Study Points:
- Market dynamics analysis including drivers, challenges, opportunities, and trends.
- Competitive landscape assessment covering key players, market strategies, and recent developments.
- Market segmentation analysis to identify growth opportunities in specific segments and regions.
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