Global Digital Pathology Market : Shortage of Skilled Pathologists to Reflect Impressive Market Demand and Market Growth

DataM Intelligence announces its market report titled “Global Digital Pathology Market – Size, Share and Forecasts (2019-2026)” which reflects the size, share, forecast analysis of key players. The report analyses worldwide market restraints and drivers to provide a better picture of the market opportunities.
With the introduction of Whole-Slide Imaging, the field of digital pathology is currently regarded as one of the most promising avenues of diagnostic medicine to achieve an even faster and cheaper diagnosis, the prognosis of essential diseases.

Global Digital Pathology Market drivers
According to the World Health Organization, The global cancer burden is estimated to have risen to 18.1 million new cases and 9.6 million deaths in 2018. WHO estimated that Infectious diseases kill over 17 million people a year, around the world.
Additionally, the rising demand for personalized medicine, its advantage in reducing human error and improve the accuracy of diagnoses, increases the potential for using data for education and consultations and rapid technological advancements in digital pathology are expecting to play a crucial role in the development of the market.
–https://www.datamintelligence.com/research-report/digital-pathology-market
However, lack of reimbursement policies and the high cost of digital pathology systems may hinder the market progress. According to a national survey conducted on behalf of National Cancer Research Institute’s CM-Path initiative in the UK, 82.5% of respondents agreed that initial financial cost was an obstacle to the widespread usage of digital pathology in their institution. On the other hand, only 15% agreed that safety concerns were hampering more widespread use of digital slides.

Global Digital Pathology Market Segmentation Analysis
By Product, the Global Digital Pathology Market is segmented into Software, Scanners, Storage Systems, and Communication Systems. The software market share is expected to witness the highest growth rate due to the availability of analytical, user-friendly, and advanced functions for pathology diagnosis. Technological advancements and product launches by key players are some factors that are anticipated to amplify the segment growth. For instance, in April 2019, Gestalt Diagnostics announced their development of an artificial intelligence algorithm that identifies and routes more critical cases first to the appropriate pathologist based upon a pathologist's speciality.
By Application, the Global Digital Pathology Market is segmented into Drug Discovery, Teleconsultation, Diagnosis, and Training & Education. The diagnosis sector accounts for a significant market share, in terms of revenue owing to the rising prevalence of diseases such as cancer. Additionally, the increasing attention of manufacturers on developing rapid and accurate diagnostic techniques is likely to encourage the growth of the segment.
By Technology, the Global Digital Pathology Market is segmented into Whole Slide Imaging and Telepathology. Telepathology is sub-segmented into static and dynamic. The Whole Slide Imaging segment dominates the market due to increasing acceptance and adoption of this system for academic research activities and enhanced resolution of the image.
In the Telepathology share, the static system held a significant percentage of the segment owing it to its advantages such as cost-effectiveness, efficiency, and reliability. Though adoption of Telepathology is relatively low increasing R&D on applications of static and dynamic systems is expected to affect the usage rate of this technology positively. For instance, Hybrid Telepathology, which is the combination of static and dynamic telepathology, is expected to gain popularity as it has advantages of both the systems.
By Type, the digital pathology market is bifurcated into human and veterinary pathology. The human pathology segment accounts for the largest share of the market owing to the increasing number of cancer research activities.

Global Digital Pathology Market Regional Analysis
Geographically, the global market is divided into North America, Europe, South America, Asia-Pacific and the Middle East and Africa.
North America is the leading revenue contributor to the global market and is followed by Europe. It can be attributed to the rising in acceptance of the digital pathology system in the region and increasing incidents of cancer and chronic diseases. According to the estimates of the American Cancer Society, in 2018, there were 1,735,350 new cancer cases diagnosed, and in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the United States.
Asia Pacific is anticipated to exhibit the fastest CAGR during the forecast period due to the presence of a large patient population, improving healthcare infrastructure coupled with growing investments in the medical field, and demand for novel treatment options.

Global Digital Pathology Market Company Trends
Key players are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. New product launches and R&D are other ways the leading players improve their market presence.
In April 2019, International medical imaging IT and cybersecurity company Sectra signed a digital pathology contract with the Region of Southern Denmark. The IT solution for handling digital pathology images will enable pathologists at the region's four hospitals to review and collaborate around cases in a way that is not possible with microscopes. This will increase efficiency in primary diagnostics, thereby improving cancer care.
In April 2019, HCG introduced US FDA approved digital pathology solution by Philips Intellisite Pathology Solutions across all its centres in India. This technology marks a step forward in cancer treatment through precision, speed, efficiency, and ease of use with immense potential to provide significant clinical benefits to both the physicians and patients.
In April 2019, Deep Lens Inc., a U.S.-based AI-driven digital pathology company focused on clinical trial recruitment at the time of diagnosis raised $14 million in Series A funding. The Series A round was led by Northpond Ventures with participation from existing investors Rev1 Ventures, Sierra Ventures, and Tamarind-Hill Partners.
In April 2019, Cancer informatics and digital pathology workflow solution provider Inspirata Europe Ltd announced their intention to bring two new artificial intelligence tools for surveillance, structuring, and reporting of pathology diagnoses to the UK and Ireland markets.
In January 2019, Roche announced the launch of its uPath enterprise software for digital pathology. uPath enhances the user experience by drastically decreasing image rendering times, integrating automated image analysis and improving efficiency by enabling an improved workflow for sharing cases between pathologists.

Key Takeaways
The global market for the Digital Pathology Market is primarily driven by the rising prevalence of chronic conditions, high adoption of digital pathology systems and its accuracy in the pathological assessment.
The software market share is expected to witness the highest growth rate due to the availability of analytical, user-friendly, and advanced functions for pathology diagnosis. The diagnosis sector accounts for a significant market share, in terms of revenue owing to the rising prevalence of diseases such as cancer.
North America is the leading revenue contributor to the global market and is followed by Europe. It can be attributed to the rising in acceptance of the digital pathology system in the region and increasing incidents of cancer and chronic diseases.
Key players are adopting strategies such as mergers and collaborations to stand out as strong competitors in the market. For instance, in December 2018, Inspirata Europe, Ltd. announced it has entered into a partnership agreement with Hamamatsu Photonics.

Read more information about Global Digital Pathology Market, download a free sample from –https://www.datamintelligence.com/research-report/digital-pathology-market

About DataM Intelligence

DataM Intelligence 4Market Research is a Market Intelligence and Business Research firm, based in India. It aims to bridge the two main aspects of a business decision - opinion and supportive data.

Market Research for long has been losing its credibility owing to low reliability and high proportions of estimations. Having identified this gap, DataM was established to provide businesses with reliable and near-market intelligence. Reporting the actual market scenario has been made possible by our proprietary methodology, that essentially revolves around gathering inputs from industry participants and integrating the trends into statistical Databank. This approach not only aligns the findings with historical data but also allows a highly justifiable forecast model.

company name: DataMintelligence

Corporate Address
1st floor, Phoenix Tech Tower, Plot no: 14/46, Habsidguda, IDA-Uppal, Hyderabad-500039, Telangana

Email
info@datamintelligence.com

Phone
+1 877-441-4866

This release was published on openPR.