New York, US, June 29, 2021 (GLOBE NEWSWIRE) -- Digital Pathology Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Digital Pathology Market Information by Type, Product, Application, End-user, and Region - Forecast till 2028” the market is projected to reach USD 1.4 Billion by 2028 at a CAGR of 6.5%.
Major causes that influence the purchasing decisions in healthcare institutions, such as; diagnostic centers, hospitals, and clinics, are; management of electronic health records (EHRs), automated integration technologies to expedite workflow, boost treatment experience, and effective software for image analysis. As the demand for technological advances surge in these centers to streamline workflow, adopting a digital pathology system to enhance the treatment experience for patients and their families are observed. Laboratory efficiency improvements are important because doctors and patients rely on laboratory outcomes for diagnostic and therapeutic decisions. Digital pathology solutions, such as; digital imaging, fiber optic communications, and robotic light microscopy, are tending in this field. Moreover, diagnostic tests are required on an urgent basis and should be accurate, and high-tech solutions of digital pathology offer the same. These causes are expected to influence the rise of the digital pathology market. The increasing prevalence of chronic conditions and the increase in demand for digital pathology to improve the existing patient diagnostic imaging measures are other factors that can enhance the impetus of the digital pathology market. The need to curb high costs associated with traditional diagnostic methods can fuel the adoption of digital pathology solutions to promote market expansion.
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Digital Pathology Market Competitive Landscape
Some of the Top-notch Companies operating in the Digital Pathology Market are:
- Olympus Corporation (Japan)
- Danaher Corporation (Leica Biosystems GmbH) (U.S.)
- Inspirata (U.S.)
- 3DHISTECH Ltd. (Hungary)
- Huron Digital Pathology Inc. (Canada)
- Koninklijke Philips N.V. (The Netherlands)
- Hoffmann-La Roche Ltd. (Switzerland)
- Microdimensions GmbH (Germany)
- Definiens (Germany)
- Mikroscan Technologies, Inc. (U.S.)
The highly competitive landscape distinguishes the digital pathology industry. New entrants are striving to establish their global footprint presence as existing companies improve their product portfolios and pricing. In recent times, to achieve a strategic edge in the healthcare industry, well-established players enter into mergers and acquisitions, business cooperation, and alliance. For instance, Charles River Laboratories International, Inc., an American pharmaceutical company, entered into a partnership with Deciphex Patholytix. Charles River will optimize Patholytix Preclinical tools in collaboration with Deciphex, a preclinical digital pathology SaaS provider, to validate, streamline, and expedite the digital peer-review process and ensure the integrity and consistency of studies conducted. On the other hand, Proscia, a US-based digital pathology startup, acquired Concentriq, an advanced software platform fundamentally used as OS for digital scanners to evaluate tissue biopsies.
Factors that can drive the market are upscaling demand for disruptive technologies and spreading knowledge about numerous benefits of digital pathology.
High cost is incurred by deploying technologies, such as; computer servers, scanners, medical displays solutions, and pathologists' workstations, for using digital pathology solutions, which can hinder market expansion.
Browse In-depth Market Research Report (90 Pages) on Digital Pathology: https://www.marketresearchfuture.com/reports/digital-pathology-market-1955
COVID 19 Analysis
In the current COVID-19 pandemic scenario, a large number of patients visiting healthcare-providing centers regularly. As a result, the number of pathological tests conducted globally has surged in the outbreak. Further, the worldwide implementation of restrictions and lockdowns has negatively impacted these solutions' needs in recent times. However, the FDA's approval for digital pathology solutions in primary diagnostic purposes can boost the adoption rate of digital pathology solutions. In addition, the growing need for better access to evaluate the diagnostic tests for patients over a remote distance is likely to surge the demand for digital pathology solutions in the years to come.
Digital Pathology Market Segmentation
The digital pathology market segment analysis is based on end-users, product, type, and applications.
The end-users-based segments of the digital pathology market are diagnostic centers, hospitals & clinics, and research centers and academic institutes. The product-based segments of the digital pathology market are hardware, software, and storage, based on product. By type, the digital pathology market study is segmented into animal pathology and human pathology. By application, the market is segmented into drug discovery, disease diagnosis, mHealth, and telemedicine, based on applications.
Digital Pathology Market Regional Insights
The increasing prevalence of chronic ailments, rise in healthcare spending, and the need to embrace the new technology can support the growth of the digital pathology market in the Americas and Europe. In Asia Pacific, the market of digital pathology is expected to rise at 13.53 % during the review period. The expansion of the medical tourism industry in Thailand, India, and Singapore can contribute to the upsurge of the digital pathology market in APAC. In the Middle East Asia and Africa, the improvement in healthcare infrastructure can impact the digital pathology market.
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