Digital Pathology Market Revenue, Development Strategy, Growth Potential, Analysis and Business Distribution | COVID-19 Effects

The global digital pathology market is projected to reach a significant valuation and grow at a steady pace over the forecast period of 2021-2028, as per a research report published by Market Research Future (MRFR). The digital pathology market has been observing continued growth on account of the prevalence of chronic diseases such as cancer. Rising incidences of cancer require timely diagnosis and treatment, and digital pathology has the potential to improve accuracy and timeliness of cancer diagnosis and hence is extensively used which induces demand for digital pathology. Advancements in digital pathology technology such as digital imaging, robotic light microscopy, and multiple fiber optic communications are expected to up the level of efficiency of diagnosis and uplift the growth of the market. Additionally, the lack of skilled pathologists who can handle the growing complexities of diagnostics has surged the demand for digital pathology. Digital pathology finds its application in various fields such as education, tissue-based research and drug development which further drives the growth of the market. The rise in a number of clinical and pre-clinical trials have propelled the growth of the market. Digital pathology is setting new standards of practice in clinical trials with the introduction of new technologies such as virtual microscopy, and digital imaging which helps improve the outcomes of clinical trials. Increasing adoption of advanced technologies to improve workflow and facilitate faster diagnostics is augmenting the market growth. Additionally, government initiative and support in various economies to strengthen the healthcare infrastructure in the form of funds and subsidies foster the growth of the market. Other market drivers include a rise in automation and improvements in healthcare infrastructure across the globe. However, the market growth might be hindered by lack of standardization in digital pathology and substantial initial cost of setup.

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Segmentation
The global digital pathology market has been segmented based on types, products, application, and end-user. By types, the market has been segmented into human pathology and animal pathology. By products, the market has been segmented into scanners, storage server systems, software and others. By application, the market has been segmented into mHealth, telemedicine, disease diagnosis, drug discovery and others. By end users, the market has been segmented into pharmaceutical companies, hospital/clinics, reference laboratories, research institutes and others.

Regional Analysis
The key markets of the global digital pathology market include North America, Europe, Asia Pacific and the Middle East & Africa. The global digital pathology market is dominated by North America owing to the prevalence of chronic diseases and technologically advanced healthcare sector in the region. Europe is the second largest market for digital pathology due to the presence of a robust healthcare sector and increased expenditure on healthcare facilities. Asia Pacific is expected to be the fastest growing market on account of improvements in the healthcare sector, rising healthcare expenditure, and growing awareness. The Middle East & Africa market is projected to exhibit steady growth over the forecast period.

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Competitive Landscape
The global digital pathology market is fragmented and highly competitive with the presence of a multitude of well-established and small players. Owing to the lucrative growth opportunities offered by the market, there has been an influx of new players which further intensifies the competition. The notable players of the global digital pathology market include microDimensions GmbH, Q2 Solutions, LLC, Philips Healthcare, ViewsIQ Inc., Apollo Enterprise Imaging Corp., Definiens, Mikroscan Technologies, Inc., Omnyx, GE Healthcare, Huron Digital Pathology Inc, 3DHISTECH Ltd, Xifin, Inc., and others.

Industry Updates
• In July 2018, Enzyvant, a biopharmaceutical company, announced a partnership with Visikol, a contract research organization dealing with digital pathology and drug discovery. The partnership aims to develop a novel digital pathology approach to enable the development of a medicine for the treatment of DiGeorge Anomaly.
• In July 2018, Royal Philips, a leading health technology company and Oxford University Hospitals joined forces to create a digital pathology network which will enable better diagnosis of diseases. Oxford University Hospitals have planned to install the Philips IntelliSite Pathology Solution at the John Radcliffe Hospital in Oxford.

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