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Digital Pathology Market- Growth, Trends, and Forecast (2019 - 2024)

Digital Pathology Market- Growth, Trends, and Forecast (2019 - 2024)

  • August 2019
  • 121 pages
  • ID: 5815047
  • Format: PDF
  • By Mordor Intelligence LLP

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Market Overview
The increasing number of teleconsultations, rising adoption of digital pathology to enhance lab efficiency, and increasing application in drug discovery and companion diagnostics are driving the global digital pathology market. Moreover, the investment in laboratory expansion and market penetration of key manufacturers are also likely to propel the market growth.

The aim of teleconsultation is to omit geographical and functional distance between two or more geographically separated healthcare providers. It is defined as the consultation by remote telecommunications, primarily for the diagnosis or treatment of a patient at sites that are distant from the patient or primary physician. Teleconsultation services are being implemented by several hospitals, primary healthcare physicians, private medical practices, and other medical units. Thus, it has proven to be feasible and effective, to potentially reduce costs, provide organizational benefits, and improve patient’s satisfaction.

The use of digital pathology in disease diagnosis is also increasing, due to the integration of digital pathology with digital tools, barcoding, specimen tracking, and digital dictation, which improvise the safety, quality, and efficiency of disease diagnoses in pathology laboratories.

The market is also expected to be driven by the increasing adoption of telepathology, rising investment in healthcare in developed countries, market penetration of key manufacturers in the developing region, and an increasing focus on drug discovery.

Scope of the Report
As per the scope of the report, digital pathology includes the acquisition, management, sharing, and interpretation of pathology information, which includes slides and data in a digital environment. The digital slides are created when glass slides are captured with a scanning device, in order to offer a high-resolution image to be viewed on a computer screen or mobile device.

Key Market Trends
Disease Diagnosis is the Fastest Segment by Application that is Expected to Grow during the Forecast Period

For the diagnosis of diseases, digital pathology encompasses different technologies, which include laboratory management systems, digital dictation, dashboards and workflow management, digital image analysis, electronic specimen labelling and tracking, and synoptic reporting tools. Therefore, the integration of digital pathology, along with these digital tools, barcoding, specimen tracking, and digital dictation, improvise the safety, quality, and efficiency of disease diagnoses in pathology laboratories. Hence, owing to the advantages of using digital pathology for disease diagnoses, the market is expected to grow at a good pace during the forecast period.

Asia-Pacific is the Fastest-growing Region and it is Expected to Follow the Same Trend over the Forecast Period

The Asia-Pacific digital pathology market is anticipated to exhibit the fastest CAGR during the forecast period, due to the proliferation of advanced imaging modalities in emerging economies, growing investments in medical field, and presence of untapped opportunities. Thus, the presence of a large target patient population and booming healthcare industry is encouraging the growth of the regional market.

North America is expected to dominate the overall market throughout the forecast period. The presence of high per capita healthcare expenditure, increasing investment from key players, and the well-established IT and healthcare infrastructure are some of the factors contributing to the growth of the market in the region.

Competitive Landscape
The key players in the global market are adopting strategies, such as mergers and acquisitions, technological development, and geographical expansion, in order to capture a significant position. Several manufacturers are focusing on developing digital pathology scanners with high throughput, improved resolution, high magnification, and high-end microscopes with automated scanning, all of which are expected to drive the market growth during the forecast period.

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