03-15-2018 05:22 PM CET - Advertising, Media Consulting, Marketing Research

North America is Expected to Account for the Largest Share of the Digital Pathology Market, Followed By Europe

Press release from: Xpodence Research

The market for digital pathology in North America region is witnessing a high growth and is anticipated to dominate the market share in terms of revenues for the forecast period. The large share of the North American region can be attributed to factors such as increasing initiatives by industry players and governments in diagnostics and the rising prevalence of chronic diseases.
North America held the largest revenue share of the digital pathology market.

The continual deployment of R&D investments, supportive government initiatives pertaining to the development of technologically advanced systems, rising adoption of digital imaging, and the presence of major players in this region are the key contributing factors for its dominance. Increased usage of digital pathology for disease diagnosis and favorable reimbursement policies in the U.S. improving the quality of cancer diagnosis, are expected to contribute toward industry growth in this region.

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The growth of the digital pathology market size is attributed to factors such as efficient cost of digital pathology products, ease of transportation of slides virtually, high efficiency of digital pathology systems, and more efficient analysis of digital slides. The digital images obtained can be processed through advanced computing algorithms, thus producing enhanced output. Meanwhile, the time required for the diagnostic procedures is also significantly reduced.

Asia Pacific is expected to grow at the fastest CAGR during the forecast period due to the rising penetration of the digital imaging in emerging economies, growing investments in the medical field, and the presence of untapped opportunities.

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Manufacturers are highly on expanding their market share in the Asia Pacific region attributed to the growing demand for digital health by the developing countries in this region. The major companies that provide digital pathology include Hamamatsu Photonics K.K, Leica Biosystems Nussloch GmbH, Definiens AG, Corista LLC, 3D Histech Ltd, Philips Healthcare, Apollo Enterprise Imaging Corp., Xifin, Inc., Visiopharm A/S, Ventana Medical Systems, Inc., Omnyx, LLC., among others.

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