The global digital pathology market is segmented on the basis of type, application, end-user and region.
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The type segment is further sub-segmented into hardware, software and services. Hardware digital pathology segment is expected to occupy the top position in the market.
The demand for hardware digital pathology is increasing on account of increasing usage of hardware digital pathology for analysis and detection of diseases.
The global digital pathology market is expected to register a CAGR of 11.6% over the forecast period. Moreover, the market of digital pathology was valued at USD 337.8 Million in 2016 and is expected to expand on the back of the expanding prevalence of chronic diseases.
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The disease diagnosis segment application is estimated to register a CAGR of 11.1% during the forecast period. Moreover, disease diagnosis is expected to account for the largest share of revenue across the globe.
Disease diagnosis digital pathology integrates image processing and computing algorithm which results in efficient analysis of tissue slide and disease detection. These benefits are pushing hospitals to adopt disease diagnosis digital pathology system.
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Increasing Prevalence of Chronic Diseases
The digital pathology market growth is primarily driven by the rising number of diseases. Further, in order to provide better healthcare services to the patients, various hospitals are adopting digital pathology system.
Moreover, the rising number of hospitals and diagnostic laboratories are likely to increase the demand for the digital pathology market.
Advanced Technologies in Digital Pathology
The technological advancement is leading to the increased adoption of the digital pathology across the globe. The high accuracy and precision, computer algorithms analysis are anticipated to foster the growth of digital pathology market.
Moreover, utilization of digital pathology system in research institutes is further propelling the growth of the market. The integration of the digital pathology with cloud technology is further driving the growth of the market.
Although, the high cost of diagnosis testing, lack of skilled healthcare professionals are some of the factors that are likely to inhibit the growth of the digital pathology market in the near future.
The report titled “Global Digital Pathology Market Outlook 2023” delivers detailed overview of the global digital pathology market in terms of market segmentation by type, application and end user.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global digital pathology market which includes company profiling of Leica Biosystems Nussloch GMBH, GE Healthcare, Ventana Medical Systems, Inc., Hamamatsu Photonics K.K., Apollo Enterprise Imaging Corporation, Xifin, Inc., Definiens AG. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global digital pathology market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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