“The digital pathology market is projected to grow at a CAGR of 12.3%.”
The global digital pathology market is expected to grow at a CAGR of 12.3% to reach to USD 756.1 million by 2022. Growth in the digital pathology market is mainly driven by factors such as the rising prevalence of cancer, growing applications of digital pathology in drug development and companion diagnostics, ease of consultation, increasing adoption of digital pathology to enhance lab efficiency, and increasing initiatives by governments and industry players. However, the high cost of digital pathology systems is expected to restrict market growth to a certain extent. Lack of standard guidelines may also challenge market growth in the coming years.
“The software segment to account for the largest share of the market.”
By product, the digital pathology market is segmented into scanners, software, communication systems, and storage systems. The scanners segment is estimated to account for the largest share of the global digital pathology market in 2017. The large share of this segment is mainly due to the increasing adoption of digital pathology solutions across the globe.
“The pharmaceutical and biotechnology companies segment to hold the largest market share in 2017.”
On the basis of end user, the digital pathology market is classified into pharmaceutical and biotechnology companies, hospitals and reference laboratories, and academic & research institutes. The pharmaceutical and biotechnology companies segment is estimated to account for the largest share of the digital pathology market. Factors contributing to the large share and high growth rate of this segment include the increasing use of digital pathology for drug discovery studies and drug toxicology testing. Biotechnology companies also use digital pathology for biobanking, biopharmaceutical studies, and molecular assays.
“North America to dominate the digital pathology market and APAC projected to grow at the highest CAGR during the forecast period.”
The North American region is expected to hold the largest share of the global digital pathology market in 2017. The large share of this region can be attributed to factors such as the rising prevalence of chronic diseases and increasing initiatives by industry players and governments in diagnostics. However, Asia Pacific is expected to grow at the highest CAGR during the forecast period. Factors such as large patient population, shortage of pathologists, increasing initiatives in the healthcare industry by key market players, and rising adoption of advanced technologies for disease diagnosis are driving the growth of the digital pathology market in this region.
Break of primary participants was as mentioned below:
- By Company Type – Tier 1: 56%, Tier 2: 35%, and Tier 3: 9%
- By Designation – C-level: 27%, Director Level: 15%, Others: 58%
- By Region – North America: 45%, Europe: 29%, Asia Pacific: 20%, RoW: 6%
Leica Biosystems (Germany), Ventana Medical Systems (US), Hamamatsu Photonics (Japan), 3DHISTECH (Hungary), and Philips (Netherlands) are the key players in the digital pathology market.
The report analyzes the digital pathology market and aims at estimating the market size and the future growth potential of this market based on various segments such as product, type, application, end user, and region. The report also includes an in-depth regulatory analysis for various regions across the globe and competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
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The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned strategies.
This report provides insights on the following pointers:
- Market Penetration: Comprehensive information on product portfolios offered by the top players in the global digital pathology market
- Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global digital pathology market
- Market Development: Comprehensive information about the lucrative emerging markets by product, type, application, end user, and region
- Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global digital pathology market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and products of leading players in the global market