Digital Pathology Market Will Grow to Reach USD 679.1 Million by 2021
The report “Digital Pathology Market by Product (Scanners, Software), by Type (Human, Animal Pathology), by End User (Pharmaceutical Company, Hospital, Academic Institutions), by Application (Teleconsultation, Drug Discovery) – Global Forecasts to 2021″, this report studies the global digital pathology market for the forecast period of 2016 to 2021. This market is expected to reach USD 679.1 Million by 2021 from USD 384.3 Million in 2016, at a CAGR of 12.1%.
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A number of factors such as the rising cancer prevalence, increasing tele-consultations, utilization of digital pathology for drug discovery & companion diagnostics, rising studies on digital pathology, and improvement in laboratory workflow efficiency are driving the demand for digital pathology systems and solutions. Moreover, this market is boosted by increasing government and industry player’s initiatives into the pathological services across the globe. However, stringent regulatory concerns for primary diagnosis and lack of standard guidelines for digital pathology are among key factors likely to hamper the growth of the market.
The Global Digital Pathology Market is segmented on the basis of product, type, end-users, application and regions.
Based on the product, the global digital pathology market is segmented into scanners, software, communication system and storage systems. The scanners segment is estimated to account for the largest share of the global digital pathology market in 2016, while the software segment is projected to grow at the highest CAGR the forecast period.
Based on type, the global digital pathology market is segmented into human and animal pathology. The human pathology segment is estimated to account for the largest share of the global digital pathology market in 2016, due to factors such as increasing utilization of digital pathology for chronic disease diagnosis and rising technological developments in human pathology diagnostics across the globe.
Based on end user, the global digital pathology market is broadly segmented into pharmaceutical and biotechnology companies and contract research organizations (CROs); hospitals and reference laboratories; and academic and government agencies. The pharmaceutical and biotechnology companies and CROs segment is estimated to account for the largest share of the global market in 2016. Additionally, this segment is projected to grow at the highest CAGR.
Based on the application, the global digital pathology market is broadly segmented into disease diagnosis; teleconsultation; drug discovery; and education & training. The teleconsultation application segment is estimated to account for the largest share of the global digital pathology market in 2016. Additionally, this segment is projected to grow at the highest CAGR.
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On the basis of region, the global market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2016, North America is estimated to account for the largest share of the global digital pathology market, followed by Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific market is slated to grow at the highest CAGR and serve as a revenue pocket for companies offering digital pathology.
Prominent players in the global digital pathology market are Leica Biosystems Nussloch GMBH (Germany), Ventana Medical Systems, Inc. (U.S.), Hamamatsu Photonics K.K (Japan), 3D Histech Ltd. (Hungary), Philips Healthcare (Netherlands), Apollo Enterprise Imaging Corp. (U.S.), Xifin, Inc. (U.S.), Definiens AG (Germany), Visiopharm A/S (Denmark), Omnyx LLC (U.S.), Corista LLC (U.S.).
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