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Global Digital Pathology Systems Industry

Global Digital Pathology Systems Industry

  • April 2021
  • 620 pages
  • ID: 5205340
  • Format: PDF
  • Global Industry Analysts

Summary

Table of Contents

MARKET IMPACT SURVEY - COVID-19 & LOOMING RECESSION

Timely market intelligence is paramount in these uncertain times!

We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!

Abstract:
- COVID-19 Encourages Fully-Actioned Digital Strategies. Digital Pathology Systems Spikes by 18.3%
- The global market for Digital Pathology Systems is expected to witness demand spike by 18.3% in the year 2020 highlighting a US$89.1million gains in annual revenue. Thereafter the market is expected to accelerate further and reach US$1.4 billion by the year 2027 trailing a CAGR of 13.9% over the analysis period 2020 to 2027.Pathology plays a huge role in the healthcare system and is a key part of clinical decision support. The pandemic has catalyzed the urgency of going digital and health systems are responding at lightning speeds. From telemedicine, wearable`s, IR monitoring to automation via use of robots, technology adoption is swift to ensure uninterrupted non-COVID care delivery with minimal infection risks. Deployment of IT is also gaining swift momentum as evidenced by rising demand for cloud solutions; analytics; sustainable supply chain solutions; EMR, EHR & digital pathology systems. With stay-at-home restrictions and the FDA`s decision to relax existing guidelines, various anatomic pathologists are embracing digital pathology to review images and slides from home. COVID-19 has resulted in dramatic decline in specimen referrals and associated revenues at anatomic pathology laboratories and groups. With the pandemic curtailing all but the most urgent cancer treatments and surgeries, histology laboratories are typically receiving extremely challenging tissue specimens for processing. In addition, there is a growing shortage of pathologists worldwide, with medical students entering the field failing to keep pace with the rate of retiring pathologists. Moreover, the strict physical distancing norms imposed to curb the spread of COVID-19 have led pathologists to stay of the lab.
- However, amid the COVID-19 outbreak, new rules have been developed for allowing the increased usage of digital pathology and reading and reviewing of pathology slides and test results remotely, provided the test was initially performed in a CLIA-authorized laboratory. The pandemic prompted the CMS to ease restrictions for allowing pathologists to work and review pathology images remotely to reduce the risk of exposure to the virus. Applicable during the pandemic, the decision is bound to push capacity by supporting remote review of clinical results, laboratory data and pathology slides. The US FDA has temporarily eased guidelines pertaining to digital pathology services for encouraging medical professionals to remotely review scanned slides during COVID-19. The adoption of digital pathology is anticipated to reduce the exposure of pathologists to the virus and prevent disruption to critical pathology services. The new policy is applicable to Class-II digital pathology devices, and follows the CMS` decision to provide pathologists with the flexibility to remotely review clinical data, pathology studies and results during the outbreak. Prior to the COVID-19 pandemic, CMS guidelines under the Clinical Laboratory Improvement Amendments (CLIA) of 1988 prohibited clinicians from making primary diagnoses remotely. The regulation made it mandatory for pathologists to work in healthcare settings, hospitals or clinical laboratories holding the CLIA license. However, the pandemic prompted the CMS to suspend these requirements and allow pathologists to interpret and review cases remotely. The new policy from the FDA also allows the use of consumer monitors instead of medical-grade monitors. Pathologists can access images remotely over a secure VPN Internet connection to make diagnosis. In addition, the agency is making efforts to ensure access to remote digital pathology systems or devices amid the pandemic.
- In short, although the world is in recession, it is not doomsday for digital health companies and VC funding will continue to increase given the unprecedented demand for digital health technology solutions. Future growth in the market will be driven by ever growing workload of pathologists; growing emphasis on quality of care and the resulting need for efficient, faster and cost-effective methods for accurate pathological assessment; and need for compliance with regulatory standards related to information management. Few of the benefits of digital pathology driving its adoption include digitalization of workflows; unification of patient data for more informed decision making; exposure to new clinical insights and data which adds to the volume of available expert knowledge; enables multi-disciplinary care by connecting multiple medical teams; enhanced workflow efficiency, reduced costs of operating pathological processes, quicker acquisition of high resolution images, and faster and accurate diagnosis. As healthcare moves to a value based system, zero tolerance to innate delays built into traditional pathology processes will drive growth of digital pathology systems. Focus on developing coherent and sustainable plans to address healthcare needs of the masses will drive increased investments in healthcare IT, especially in developing countries. Fully automated digital pathology are poised to witness strong growth in demand amid the rising emphasis on lab automation. Developments in laboratory information management system (LIMS) and network connectivity and speeds to enable digital pathology deliver on its promise of reduced diagnostic time in comparison with traditional microscopy will also be crucial to growth in the market. In addition, focus on disease prevention, early diagnosis and intervention will remain evergreen factors driving routine use of digital pathology services.

- Select Competitors (Total 74 Featured) -
  • 3DHISTECH Ltd.
  • Apollo Enterprise Imaging Corp.
  • Carl Zeiss AG
  • Corista LLC
  • Glencoe Software, Inc
  • Hamamatsu Photonics K.K.
  • Huron Digital Pathology, Inc.
  • Indica Labs
  • Inspirata Inc
  • KANTERON SYSTEMS S.L.U
  • KONFOONG BIOTECH INTERNATIONAL CO.,LTD
  • Leica Biosystems Nussloch GmbH
  • MikroScan Technologies
  • Inc.
  • Objective Pathology Services
  • Olympus Corporation
  • OptraSCAN, Inc
  • Philips Healthcare
  • Proscia Inc
  • Sectra AB
  • Visiopharm A/S

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