Digital Pathology Market to Rise with a Strong CAGR of more than 12% from 2018 to 2026

Global Digital Pathology Market – Snapshot

The global digital pathology market is expanding at a rapid pace, driven by increase in installation of digital pathology systems. The global market was valued at US$ 3,400 Mn in 2017 and is projected to reach more than US$ 9000 Mn by 2026, expanding at a CAGR of more than 12% from 2018 to 2026. The global digital pathology market is witnessing expansion at a relatively higher growth rate owing to increase in technological advancements in image analysis software, rise in trend of automation in healthcare, and high prevalence of cancer.

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Digital pathology is defined as a dynamic and an image-based environment, which enables management, interpretation, and acquisition of pathology information from a slide to a computer screen. The pathologist observes the slide under a microscope and when the slide is digitalized with help of image analysis software, it can be shared over a distance for consulting, which is known as telepathology. This system is expected to streamline activities and workflow of diagnostic laboratories and pathologists during the forecast period. Digital pathology is considered as an emerging technology, which aids in improvisation of several applications such as diagnosis of the diseases, drug discovery, academics, and research.

The global digital pathology market is projected to expand at a significant CAGR during the forecast period. Rise in number of installation of digital pathology systems, accuracy in pathological assessment, and high quality delivery of results are some factors that are expected to drive the market from 2018 to 2026. Furthermore, increase in prevalence of cancer, rise in workload of pathologists, and ever increasing clinical and preclinical trials are other important factors attributed to boost the global digital pathology market during the forecast period. However, the high cost of the systems, stringent regulatory requirements, and sampling error are some factors that are likely to restrain the global digital pathology market during the forecast period.

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The global digital pathology market can be segmented based on product type, end-user, application, and region. In terms of product type, the market can be classified into image analysis software and scanners. The image analysis software segment held a major share of the market, in terms of revenue, in 2017. Technological advancements and rise in trend of automation are some factors that are expected to augment the segment during the forecast period.

Based on end-user, the global digital pathology market can be categorized into diagnostic laboratories, academic & research centers, pharmaceutical companies, and others. The diagnostic laboratories segment held a prominent share of the market, in terms of revenue, in 2017, followed by the academic & research segment. Increase in workload of pathologist and larger patient base are likely to propel the diagnostic laboratories segment during the forecast period.

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In terms of application, the global market can be segregated into diagnosis, consulting services, educational, and others. The diagnosis segment accounted for a major share of the market in 2017, in terms of revenue. Increase in prevalence of infectious diseases is an important factor driving the segment during the forecast period.

North America held a significant share of the global digital pathology market, in terms of revenue, in 2017, followed by Europe. Rise in acceptance of the digital pathology system in the region and shortage of pathologists in North America are key factors boosting the market in region. Developed countries such the U.K. and Germany exhibit higher awareness about digital pathology and their applications. This is expected to boost the market in the regions. The market in Asia Pacific is expanding at a rapid pace. The countries such as China, India and Japan have an immense potential for the growth of market due to high prevalence cancer, rising population and improving healthcare infrastructure in the region.

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This release was published on openPR.