A recent report by Transparency Market Research on global digital pathology market states that the market is projected to witness a double digit growth from 2018 to 2026. As per the report the growth of the global digital pathology market is attributed to pacing demand for digital pathology systems. Since these systems allow the diagnostic centers to diagnose diseases like cancer, and various other contagious diseases without risking the operators to getting infected. Moreover, with these systems, the pathology report can be sent to medical facilities discreetly. Based on these features the global digital pathology market is projected to witness a whopping 12% CAGR from 2018 to 2026.
New Technologies to Shed the Load from Pathology Labs
With the implementation of technologies like artificial intelligence, machine learning can effectively distribute the load of pathological processes to various pathology labs. Moreover the rising prevalence of conditions like cancer, and continuously reducing number of pathologists have struck the pathology sector altogether. The thoughtful minds of global digital pathology market states that the technology is the key to evenly distribute the work load amongst the chain of pathology laboratories. Based on these demands, the global digital pathology market is expected to witness the projected growth in coming years.
Competition to Boost the Market to Reach to US$ 900 Mn
The current scenario of the global digital pathology market is highly competitive and fragmented. This is due to prominence of several players that control the dynamics of the market. To overcome this competition and maintain their dominance, the businesses are merging and collaborating their resources. These strategies are boosting the global digital pathology market from US$ 370 mn in 2017 to reach to US$ 900 mn at the end of 2026.
Imaging to be the Leading Segment of the Market
A precise result is one that can be seen through naked eyes. With the help of digital pathology systems, pathologists can develop visual results in form of graphs, light frequency, images, and color variations. Out of these results, the imaging is one of the most trusted and lucrative segment of the global digital pathology market. This because, with digital pathology imaging systems, precise and real-time images of the cell culture can be created that can give accurate status of the patient’s health. As a result, the imaging systems segment are dominating the global digital pathology market.
Asia Pacific Draws Maximum Benefits
The number of pathology labs are increasing in countries like India and China. These countries are incorporating innovative digital pathology systems that can curate, transfer and secure pathology reports and can be transferred to hospitals. Due to these reasons the businesses across the globe are focusing on Asia Pacific to generate more profit in the projected duration. Moreover, the improving healthcare infrastructure and adoption of digital technology in healthcare sector in Asia Pacific is also a crucial aspect in establishing the dominance of the region in the market from 2018 to 2026.
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The study presented here is based on a report by Transparency Market Research (TMR), titled, “Digital Pathology Market (Product Type – Image Analysis Software and Scanners; End use – Diagnostic Laboratories, Academic and Research Centers, Pharmaceutical Companies; Applications – Diagnosis, Consulting Services, Educational) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.”
The global digital pathology market is segmented on the basis of:
- Product Type
- Image Analysis Software
- End use
- Diagnostic Laboratories
- Academic and Research Centers
- Pharmaceutical Companies
- Consulting Services