21 February 2019, The global Digital Pathology Market is expected to experience brisk growth over the forecast period owing to a rapid increase in cancer cases. Benefits such as easy consultation and accurate results are estimated to support the growth of the market.
Digital pathology is an image-based data system linked with computer technology, which manages information produced from a digital slide. It is also referred to as virtual microscopy that involves capturing, managing, analyzing, and interpreting digital data from a glass slide. The process includes generating glass slides and converting them to digital slides by using digital solutions such as scanning. A digital slide image document is then generated that allows high-resolution image viewing, analysis, and interpretation
These devices can be easily transported from one place to another, which makes their implementation in several clinics & healthcare centers easier and simpler. Moreover, rising awareness regarding benefits of the procedure is anticipated to stoke the growth of the market. Demand for drug innovation and development is likely to positively impact the industry over the coming years. Besides this, technological advancements and development of companion equipment are projected to supplement the growth of the market.
Its ability to augment work efficiency and understanding and handling ease is poised to motivate its usage for health-related decision making. Superior characteristics such as easy transportation and high system efficiency help doctors and other healthcare professional to diagnose disorders even in isolated regions within the body. This system helps real-time decision making and provides effective workflow.
Several advantages such as cost reduction after its implementation, high reliability in decision making, fast & accurate test results, and efficiency in analysis are expected to fuel its demand over the forecast period. Cost reduction is achieved by minimizing data and slide delivery cost and by reducing procedure costs.
Stringent government rules and regulation are estimated to hamper the growth of the market over the forecast period as its implementation requires proper approval. Conservative attitudes towards usage of such systems and dependency on alternative methods for pathology test are anticipated to limit the market from realizing its utmost potential. Huge cost and massive initial investments are anticipated to have a negative impact on the growth of the market.
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Some of the major challenges faced by the market are issues related to interoperability and industry standardization as formats mostly differ from region to region. On the other hand, affordable scanners for private pathology learning are likely to shape the future of the market. Penetrating into new applications such as biopharmaceuticals and drug toxicology study is projected to open new avenues for industry participants.
Scanners, digital pathology information management systems, information storage devices, visualizing software, image analysis platform, web-based communication mode, and cloud-based delivery systems are some of the common products used for digital pathology. There are several application areas for this market, which can be mainly classified into human pathology and animal pathology.
Human pathology includes pharmaceuticals & biotechnology companies, training & education, hospitals, academic laboratory centers, and reference laboratories. On the other hand, animal pathology includes government and academic research institutes, biotechnology & pharmaceuticals companies, and contract research organizations.
Developed regions such as North America and Europe are at the forefront of the market. These regions will continue to account for a sizeable share in the market over the forecast period. The growth of the market in North America can be attributed to constant R&D initiatives along with product innovation leading to better product development.
Emerging regions such as Asia Pacific are poised to witness significant demand for this system over the forecast period. The region is expected to rise at a lucrative CAGR over the forecast period due to increasing awareness regarding advantages of digital pathology. Developing countries such as Brazil, China, and India are estimated to be sights of high growth rates in the global arena.
The digital pathology market is highly cost intensive and requires heavy initial investment for installation purpose. Market participants are investing heavily in research and development initiatives to have a competitive advantage over their contemporaries and develop novel products. Prominent industry participants include 3dhistech Ltd.; Aurora Interactive Ltd.; Definiens AG; Hamamatsu Photonics K.K.; Indica Labs, Inc.; Leica Biosystems, Gmbh; Mikroscan Technologies, Inc.; Huron Technologies International, Inc.; Objective Pathology Services Ltd.; Xifin, Inc.; Pixcelldata Ltd.; Ventana Medical Systems, Inc.; ApolloPacs, Inc.; Corista LLC; Digipath, Inc.; Kanteron Systems; Ligolab, LLC; Nikon Instruments, Inc.; Omnyx; LLC ;Pathol Ltd.; Sunquest Information Systems, Inc.; and Visiopharm.
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