Digital Pathology Market Analysis, Key Players, Growth Rate And Future Forecasts 2018-2026
Construing images of
cells and tissues at a higher resolution than the naked human eye is
the core of pathology. From a long time, microscopes has been the
only instrument available which provides the live images at a higher
resolution. This is achieved through never ending improvement in the
optics.
In the last decades,
optical pathology has been changed gradually by the introduction of
digital cameras, which produces still images of slides and thus can
be accessed or transported to another pathologist for examination. A
further improvement in this method is through introduction of digital
slide scanner. These scanners produce whole slide images that can be
examined through an image viewer. The advantage of this system is
that it produces live as well as high resolution images. This in turn
is expected to be one of the vital factor to support the growth in
digital pathology market.
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Digital pathology is
the use of computer technology to convert analog microscopic images
into digital images. It is also known as digital imaging, virtual
slides, or virtual microscopy. In other words, it is the practice of
converting glass slides into digital slides that can be viewed,
managed, and analyzed on a computer screen. With the introduction mod
whole slide imaging, this technology has been regarded as the most
promising method of diagnostic medicine, which is expected to favor
the growth in the digital pathology market in the near future.
Digital imaging in
pathology can definitely improve workflow thereby increasing
productivity while reducing costs, enable automated image analysis
and quality control. However, the efficient use of digital slide
systems is still a challenge.
Some of the main
challenges in digital pathology market are:
-
Adoption rate: Technology and market trends
-
Quality requirements accuracy, sensitivity, specificity, reproducibility and validity
-
Financial/Reimbursement status
-
Regulatory bodies
-
Medical ethics
-
New mindsets
Radiological
procedures have already included digital methods in their regular
procedures. For e.g.: CT Scans, MRI, X-rays etc.
Digital
pathology market is segmented on the basis of product, on the basis
of application and on the basis of end user:
On the basis
of product:
-
Software
-
Scanner
-
Communication system
-
Storage system
On the basis
of application:
-
Teleconsultation
-
Disease Diagnosis
-
Drug Discovery
-
Education and Training
On the basis
of end user:
-
Pharmaceutical and Biotechnology companies
-
CRO
-
Hospital laboratories
-
Academic and Research institutes
Globally, the market
of digital pathology is expected to grow around 10-15% CAGR. Over the
years there has been an increased need to connect laboratories to
hospitals and clinics. This owes to increase in the demand for
pathology screening service in disease diagnosis and prognosis. The
global value of this market is somewhat in between US$ 100-300 Mn and
is continuously increasing year by year.
Effect on
digital pathology market by increase in the incidences of deadly
diseases:
Rising cancer
prevalence, increasing tele consultations, utilization of digital
pathology systems for drug discovery, and increasing government &
industry player’s initiatives into the pathological services are
the main driving factors of this market.
Increasing number of
hospitals and diagnostics laboratories can also be a factor which are
expected to fuel the overall demand for digital pathology systems.
North
America dominates the digital pathology market over the forecast
period:
Currently, North
America (USA, Canada and Mexico) is the market leader of digital
pathology market owing to vast number of companies. Also, increase in
the inclination of the healthcare providers towards the integrated
healthcare IT systems and cloud based systems to provide better
interoperability in diagnostic research are the key factors of future
growth in this region.
After North America,
European region holds the second position for this market, which
further followed by Asia-pacific and Latin America.
In the near future,
Asia Pacific digital pathology industry is expected to expand at the
highest CAGR with more focus on the countries like India, China and
Japan. Factors for such a steep growth is growing patient population
and rise in adoption rate for advanced technologies of disease
diagnosis.
Key Players:
Some of the major
players which are dominating the market are: Ventana Medical Systems,
Inc., Definiens AG, Omnyx, LLC, Hamamatsu Photonics K.K, Corista LLC,
GE Healthcare, Inspirata Co, Philips Healthcare, 3D-Histech Ltd.,
Olympus Corporation, Sectra AB, Perkin Elmer, Inc, etc.
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Pathology Market
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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