Factors such as efficient cost of digital pathology products, ease of virtual transportation of slides, and high efficiency of digital pathology systems are the major factors that boost the growth of the global digital pathology market. Moreover, growth in adoption of digital pathology in contrast to conventional pathology diagnosis drives this market. Unclear reimbursement policies, dearth of skilled personnel, and unwillingness of older pathologists to adopt new technology hamper the digital pathology market growth. Moreover, rise in initiatives toward commercialization of cost-efficient digital pathology systems is anticipated to offer significant growth opportunities for service providers for forecast period.
“Digital pathology market accounted $512 million in 2018, and is expected to reach $1,390 million by 2025, at a CAGR of 13.3% from 2019 to 2025. “
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In 2018, scanners segment is the major shareholder in the market and is expected to register a considerable growth rate during the forecast period. significance offered by digital pathology scanners are it aids in analyzing multitude of images with ease and in studying complex morphologies & features which stimulates this market growth. In addition, these systems perform repeated data analysis across experiments and produce high resolution images. Moreover, recent approvals granted by FDA boost the growth of the digital pathology scanners market.
However, Asia-Pacific is expected to exhibit fastest growth rate for the forecast period, owing to boost in awareness related to digital pathology systems. The other factors that boost growth of the market include presence of huge patient base suffering from chronic & infectious diseases and rise in healthcare expenditure in the region. Constantly evolving life science industry is anticipated to offer lucrative opportunities for the market expansion in the developing economies such as India, China, and Malaysia.
The major players operating in the market include 3DHISTECH Ltd., Danaher Corporation (Leica Microsystem), Glencoe Software, Inc., Hamamatsu Photonics K.K., Indica Labs Inc., Koninklijke Philips N.V., Nikon Corporation, PerkinElmer Inc., Roche (Ventana Medical Systems, Inc.), and Visiopharm A/S.
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