Global Digital Pathology Market To Surpass USD 7 Billion With A CAGR Of 16% For The Forecast Period 2016-2024

Opportunity For The Potential Future Use Of Digital Pathology For Quantitative Analysis Of Emerging Companion Diagnostics And Novel Theranostics

The global digital pathology market is estimated to reach USD 7.1 billion by 2024 at the considerable CAGR of 16% over the forecast period.

Digital pathology is more than the conversion of glass slide to digital media, it decrease the time and cost for diagnosis by giving pathologists tools to automate manual and time-consuming tasks. Inspirata is going to introduce a suite of digital pathology algorithms that detect and highlight unusual cell structures along with morphological abnormalities, this pre-screening process is called Informed Detection which is utilized to pick out the case list and assisting in directing the pathologist’s eye to potential malignancies quickly thus enabling more rapid case review.

According to Goldstein Research, the global digital pathology market is segmented based on product, applications and end user. Products segment is further bifurcated into whole slide imaging, image analysis-informatics, information management system storage & communication and others.Whole slide imaging is the highest revenue-generating segment and is projected to grow at a CAGR of 13.65% over the forecast period while on the basis of end user segment hospitals & diagnostic lab along with pharma & biotech companies comprises 70% market share of total digital pathology market.Regionally, North America dominates the digital pathology market closely followed by Europe while APAC would exhibit the highest CAGR of 25% over the forecast period owing to the developing role in companion diagnostics and drug development pipeline.

“Global Digital Pathology Market Outlook, 2016-2024” covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, competitive analysis includes the in-depth analysis of the major players and leaders in healthcare industry. The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler and others. Our primary research team conducted various interviews, surveys and group discussions of industry digital pathology manufacturers, suppliers, and distributors, pharmaceutical & biotechnology companies, cosmetic product manufacturers, healthcare institutions, clinical centers, medical research laboratories and academic medical centers and universities to analyze the future prospects of the overall healthcare industry.

Global Digital Pathology to surpass $7 Billion by 2024, the market can be classified on the basis of:

By Product

  • Whole Slide Imaging
  • Image Analysis-Informatics
  • Information Management System Storage & Communication
  • Others

By Application

  • Academic Research
  • Disease Diagnosis
  • Secondary Consultations
  • Telepathology

By End-User

  • Pharma & Biotech Companies
  • Hospital & Diagnostic Centers
  • Educational Institutes
  • Contract Research Organizations

By Geography

  • North America (US, Canada)Digital Pathology Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) Digital Pathology Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) Digital Pathology Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Latin America (Brazil, Mexico and Rest of Latin America)Digital Pathology Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) Digital Pathology Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

Market Trends, Drivers and Challenges

European pathologists are the second largest users of digital pathology, first being North America. Few successful pathology projects in Europe Union are leading to higher adoption of digital pathology, for instance, AIDPATH which is the 1st European project for academia and industrial collaboration for digital pathologyin order to generate huge volumes of whole slide and tissue microarray images which are providing new insights into the causes of most devastating diseases. Digital pathology accredit the pathologist to engage, evaluate, and collaborate rapidly and remotely, with transparency and consistency, thus improving efficiency and productivity of the pathology, along with enhancing the future of digital pathology. Nevertheless, challenges like untrained medical personnel, limited adoption due to the availability of traditional pathology, mindset of technophobic pathologists, image storage concern due to large data, LIS integration concerns, reimbursement issues and limited clinical test menu curtail the penetration of digital pathology.

Global Digital Pathology Market Report” has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the market space. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global digital pathology market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

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