PUNE, India, October 16, 2017 /PRNewswire/ --
According to a new market research report "Digital Pathology Market by Product (Scanner, Software, Communication System), Type (Human, Veterinary), Application (Teleconsultation, Disease Diagnosis, Drug Discovery), End User (Pharmaceutical & Biotechnology Companies) - Global Forecast to 2022", published by MarketsandMarkets™, the global market is projected to be valued at USD 423.1 Million in 2017 and is expected to grow at a CAGR of 12.3% to reach to USD 756.1 Million by 2022.
Browse 85 Market Data Tables and 33 Figures spread through 154 Pages and in-depth TOC on "Digital Pathology Market"
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The key factors propelling the growth of this market include rising prevalence of cancer, increasing adoption of digital pathology to enhance lab efficiency, increasing initiatives by governments & industry players, ease of consultation, and growing applications of digital pathology in drug development and companion diagnostics.
Scanners to account for the largest product segment in the Digital Pathology Market in 2017
The products segment of the Digital Pathology Market is classified into scanners, software, communication systems, and storage systems. The scanners segment is estimated to account for the largest share of the global Digital Pathology Market in 2017. The large share of this segment can be attributed to the increasing adoption of digital pathology to enhance lab efficiency solutions across the globe.
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Human pathology to dominate the Digital Pathology Market during the forecast period
By type, the Digital Pathology Market is segmented into human and veterinary pathology. The human pathology segment is estimated to account for the largest share of the global Digital Pathology Market in 2017. The increasing number of cancer research activities and growing collaborations between academic research institutes, universities, and pathology laboratories are driving the increased uptake of digital systems in human pathology.
Teleconsultation to dominate the Digital Pathology Market during the forecast period
By application, the Digital Pathology Market is segmented into teleconsultation, disease diagnosis, drug discovery, and training & education. The teleconsultation segment is estimated to account for the largest share of the global Digital Pathology Market in 2017. Shortage of pathologists in developing countries and increasing need for quality and fast diagnosis have enhanced the utilization of teleconsultation applications across the globe. Teleconsultation also provides accessibility to patients in remote areas with specialist pathological consultation, thereby driving the growth of this market globally.
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North America to dominate the market in 2017
North America is expected to dominate the global Digital Pathology Market in 2017. The large share can be attributed to factors such as the rising prevalence of chronic diseases and increasing initiatives by industry players and governments in diagnostics. However, Asia Pacific is expected to grow at the highest CAGR during the forecast period. Factors such as a large patient population, shortage of pathologists, increasing initiatives in the healthcare industry by key market players, and rising adoption of advanced technologies for disease diagnosis are driving the growth of the Digital Pathology Market in this region.
Leica Biosystems (Germany), Ventana Medical Systems (US), and Hamamatsu Photonics (Japan) are the major players in the global Digital Pathology Market. Other players include 3DHISTECH (Hungary), Philips (Netherlands), Apollo Enterprise Imaging (US), XIFIN (US), Visiopharm (Denmark), Corista (US), Huron Digital Pathology (Canada), Objective Pathology Services (Canada), and Indica Labs (US).
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