Global Digital Pathology Market Assessment 2020-2025 - Market Expected to Cross $1.1 Trillion by 2025, with North America Growing at the Highest Rate
However, the high cost of digital pathology systems is expected to restrict market growth to a certain extent.
DUBLIN, July 10, 2020 /PRNewswire/ -- The "Digital Pathology Market by Product (Artificial Intelligence, Scanner, Software, Storage), Type (Human, Veterinary), Application (Teleconsultation, Disease Diagnosis, Drug Discovery), End User (Pharmaceutical Companies, Hospitals) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The digital pathology market is projected to grow at a CAGR of 13.2% during the forecast period (2020-2025).
The key factors driving the growth of this market include the increasing adoption of digital pathology to enhance lab efficiency, rising prevalence of cancer, growing application of digital pathology in drug development & companion diagnostics, and increasing initiatives by industry players. However, the high cost of digital pathology systems is expected to restrict market growth to a certain extent.
Adoption of artificial intelligence is expected to increase during the forecast period.
The adoption of AI in healthcare has been rising in recent years due to its ability to optimize clinical processes, thereby solving a variety of problems in the healthcare industry. AI helps patients receive correct diagnosis in a timely manner, maximize hospital efficiency, and reduce the waiting time for patients, thereby enhancing overall healthcare. AI helps in collecting, storing, and normalizing data along with tracing its lineage.
The software segment will grow at the highest rate during the forecast period.
On the basis of product, the digital pathology market is segmented into scanners, software, communication systems, and storage systems. The scanners segment accounted for the largest share of the digital pathology market in 2019. The large share of this segment is mainly due to the increasing adoption of digital pathology solutions across the globe, and the high cost of scanners. On the other hand, the software segment is projected to witness the highest growth rate during the forecast period, due to the availability of user-friendly, analytical, and advanced functions for pathology diagnosis.
By type, the human pathology segment accounted for the largest share of the digital pathology market in 2019.
On the basis of type, the global digital pathology market is segmented into human and veterinary pathology. The human pathology segment accounted for the largest share of the digital pathology market in 2019. 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.
The market in North America is projected to witness the highest growth rate during the forecast period (2020-2025).
North America is projected to register the highest growth during the forecast period. This large share can be attributed to factors such as the rising prevalence of cancer and increasing initiatives by industry players. On the other hand, the Asia Pacific region is expected to grow at the second-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.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Digital Pathology Market Overview
4.2 North America: Digital Pathology Market, by Product (2019)
4.3 Geographical Snapshot of The Digital Pathology Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Adoption of Digital Pathology to Enhance Lab Efficiency
5.2.1.2 Rising Prevalence of Cancer
5.2.1.3 Growing Applications of Digital Pathology in Drug Development and Companion Diagnostics
5.2.1.4 Increasing Initiatives by Industry Players
5.2.2 Restraints
5.2.2.1 High Cost of Digital Pathology Systems
5.2.3 Opportunities
5.2.3.1 Introduction of Affordable Scanners for Private Pathology Practices
5.2.3.2 Increase in Demand for Personalized Medicines
5.2.3.3 High Scope of Growth in Emerging Economies
5.2.4 Challenges
5.2.4.1 Lack of Trained Pathologists
6 Artificial Intelligence in Digital Pathology
7 Digital Pathology Market, by Product
7.1 Introduction
7.2 Scanners
7.2.1 Scanners Accounted for The Largest Share of The Market in 2019
7.2.2 Brightfield Scanners
7.2.3 Fluorescence Scanners
7.2.4 Other Scanners
7.3 Software
7.3.1 Digital Pathology Software Offer Analytical and Highly Advanced Functions Not Offered by Traditional Microscopes
7.3.2 Information Management Software
7.3.3 Image Analysis Software
7.3.4 Visualization Software
7.4 Communication Systems
7.4.1 Introduction of Cloud-Based Communication Systems Provides Impetus to Market Growth
7.5 Storage Systems
7.5.1 Application of Pacs and Vna to Drive The Storage Systems Market
8 Digital Pathology Market, by Type
8.1 Introduction
8.2 Human Pathology
8.2.1 Human Pathology Segment Held The Largest Share of The Market in 2019
8.3 Veterinary Pathology
8.3.1 Veterinary Digital Pathology Cuts The Turnaround Time for Animal Disease Diagnosis - a Key Factor Driving Market Growth
9 Digital Pathology Market, by Application
9.1 Introduction
9.2 Drug Discovery
9.2.1 Increases in R&D Spending Will Provide Impetus to Drug Discovery Segment During The Forecast Period.
9.3 Disease Diagnosis
9.3.1 Disease Diagnosis Segment to Register Steady Growth During The Forecast Period.
9.4 Teleconsultation
9.4.1 The Need for Accurate, Efficient, and Quick Diagnosis Is Expected to Drive The Teleconsultation Market During The Forecast Period
9.5 Training & Education
9.5.1 Digital Pathology Can Improve Distribution of Rare and Educational Cases for Training
10 Digital Pathology Market, by End User
10.1 Introduction
10.2 Pharmaceutical & Biotechnology Companies
10.2.1 Pharmaceutical & Biotechnology Companies Segment Is Estimated to Grow At The Highest CAGR During The Forecast
10.3 Hospitals & Reference Laboratories
10.3.1 Increasing Adoption of Digital Pathology Solutions in Hospitals to Drive The Growth of This End-User Segment
10.4 Academic & Research Institutes
10.4.1 Academic & Research Institutes Segment to Register Steady Growth During The Forecast Period
11 Global Digital Pathology Market, by Region
11.1 Introduction
11.2 North America
11.2.1 US
11.2.1.1 Favorable Reimbursement Scenario for Digital Pathology in The US
11.2.2 Canada
11.2.2.1 Growing Need for High-Quality Cancer Diagnosis and Government Initiatives to Drive The Market Growth in Canada
11.3 Europe
11.3.1 UK
11.3.1.1 The UK to Account for The Largest Share in The European Market
11.3.2 Germany
11.3.2.1 High Healthcare Expenditure and Supportive Health Insurance to Drive The Market Growth in Germany
11.3.3 Sweden
11.3.3.1 Increasing Government Initiatives and Deployment of Digital Pathology Solutions
11.3.4 Denmark
11.3.4.1 High Cancer Prevalence to Drive The Market Growth in Denmark
11.3.5 France
11.3.5.1 Increasing Incidences of Cancer to Drive The Market Growth During The Forecast Period
11.3.6 Rest of Europe (RoE)
11.3.6.1 Integration & Deployment of Digital Pathology Solutions in Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.1.1 Favorable Initiatives for The Adoption of Telepathology in China
11.4.2 Japan
11.4.2.1 Initiatives Are Taken by Industry Players for Cancer Diagnosis
11.4.3 India
11.4.3.1 Increasing Incidences of Cancer in India to Drive The Market Growth
11.4.4 Rest of Asia Pacific (RoAPAC)
11.5 Rest of The World
11.5.1 Latin America
11.5.1.1 Increase in Purchasing Power and Healthcare Affordability to Drive The Market Growth in Latam Countries
11.5.2 Middle East and Africa
11.5.2.1 Potential for The Growth of The Digital Pathology Market in This Region
12 Competitive Landscape
12.1 Introduction
12.2 Market Share Analysis
12.3 Competitive Leadership Mapping (Overall Market) (2019)
12.3.1 Visionary Leaders
12.3.2 Innovators
12.3.3 Dynamic Differentiators
12.3.4 Emerging Companies
12.4 Competitive Scenario
12.4.1 Key Developments in The Digital Pathology Market
12.4.2 Key Product Launches
12.4.3 Key Acquisitions
12.4.4 Key Expansions
13 Company Profiles
13.1 Leica Biosystems (Subsidiary of Danaher Corporation)
13.2 Koninklijke Philips
13.3 Hamamatsu Photonics
13.4 F. Hoffmann-La Roche Ltd.
13.5 Sectra Ab
13.6 3Dhistech
13.7 Apollo Enterprise Imaging
13.8 Xifin, Inc.
13.9 Huron Digital Pathology
13.10 Visiopharm
13.11 Corista
13.12 Indica Labs
13.13 Objective Pathology Services
13.14 Optrascan, Inc.
13.15 Glencoe Software, Inc.
13.16 Other Companies
13.16.1 Konfoong Biotech International Co. Ltd.
13.16.2 Inspirata, Inc.
13.16.3 Mikroscan Technologies, Inc.
13.16.4 Proscia Inc.
13.16.5 Kanteron Systems
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