Digital Pathology Market Expected to Reach US $ 1.08 Billion and Grow at a CAGR of 12.0% by 2027

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Technological advancements in digital pathology help overcome limitations as these systems provide effective and efficient results of diagnostic tests.

ALBANY, NEW YORK, UNITED STATES, December 3, 2021 /EINPresswire.com/ – Transparency Market Research (TMR) released a new report titled “Digital pathology market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2019-2027 ‘. According to the report, the global digital pathology market was valued at US $ 0.38 billion in 2018 and is expected to grow at a CAGR of over 12.0% from 2019 to 2027.

Overview

Digital Pathology (PD) is an image-based platform that involves managing, analyzing, and interpreting digital information reflected on a scanned slide. Digital pathology technologies are used in many application fields such as forensics, oral pathology and human pathology. Digital Pathology is set to streamline the workflow and activities of diagnostic labs and pathologists in the near future

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The digital pathology market is currently booming due to increased research and development activities. The increasing incidence and prevalence of chronic diseases and the demand for advanced therapies are leading to increased demand for new drugs and drugs. This in turn is an increase in the focus of research and development.

The increase in the number of trade fairs and exhibitions raises awareness of the advantages of the digital pathology solution. For example, the 2nd International Digital Pathology Conference was held in November 2017 and brought together researchers, pathologists and professors from different countries to discuss the complete digital solution for pathology. Thus, the awareness of using digital pathology solutions for the diagnosis of disorders and diseases is expected to drive the market growth.

North America dominates the global digital pathology market in 2018 and the trend is expected to continue during the forecast period. Well-established healthcare infrastructure, early adoption of advanced solutions and a large patient base are the factors that are expected to drive the global digital pathology market in the region.

Asia-Pacific is likely to be a very lucrative region for the digital pathology market and is expected to grow at a high CAGR during the forecast period. The demand for newer solutions, the increase in the geriatric population with various chronic diseases, and the growing government initiatives to improve healthcare infrastructure are key factors that are likely to boost the digital pathology market in Asia-Pacific.

Growing adoption of telepathology and virtual pathology to drive the global digital pathology market

The IT and operations segments have rapidly expanded the use of virtualization technologies in recent years. Pathology is considered a visual science and telepathology and virtual pathology are the new landscape of diagnostic pathology

Recent advancements in telecommunications, microelectronics, sensor manufacturing, and data analysis techniques have created new possibilities for telepathology and virtual pathology in the digital pathology market.

Telepathology is practiced by many laboratories across the world and is gaining popularity in emerging economies which is expected to drive the growth of the digital pathology market during the forecast period.

Image Analysis Software Segment to Dominate Digital Pathology Market

In terms of products, the global digital pathology market has been segmented into image analysis software and scanners. The image analysis software segment dominated the global digital pathology market in 2018 and the trend is expected to continue during the forecast period. The growing awareness of information technology in healthcare and the growing demand for integrated advanced technology products are the factors that are expected to drive the growth of the segment.

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Diagnostic Laboratories Segment Holds Significant Share of Global Digital Pathology Market

In terms of end user, the global digital pathology market has been categorized into diagnostic laboratories, academic and research centers, pharmaceutical companies, and others.

The diagnostic laboratory segment is likely to dominate the digital pathology market during the forecast period. The growing number of diagnostic laboratories and the scarcity of qualified pathologists across the globe are expected to fuel the growth of the segment.

Diagnostics Segment to Dominate Global Digital Pathology Market

On the basis of applications, the global digital pathology market has been segmented into diagnostics, advisory services, education, and others.

The diagnostic segment dominated the global digital pathology market in 2018 and the trend is expected to continue during the forecast period. Growing awareness of early diagnosis and increasing number of patients are the factors that are expected to drive the growth of the segment.

North America to Dominate the Global Digital Pathology Market

In terms of region, the global digital pathology market has been segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America dominated the global digital pathology market in 2018, followed by Europe.

North America accounted for a significant share of the global digital pathology market in 2018. High disease prevalence, presence of key players, and supportive healthcare infrastructure are major drivers of the pathology market digital in the region.

The Asia-Pacific digital pathology market is expected to grow at a high CAGR from 2019 to 2027. Growing awareness of telepathology, increasing healthcare infrastructure, unmet medical needs, and untapped nature of the market are the key ones. key drivers of market growth in the region

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Competitive landscape

The global digital pathology market is fragmented in terms of the number of players. The main players in the global digital pathology market are Leica Biosystems Imaging, Inc., OLYMPUS CORPORATION, F. Hoffmann-La Roche Ltd, Mikroscan Technologies, Inc. Koninklijke Philips NV, Sectra AB and Inspirata.

About the transparency market research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our proprietary blend of quantitative forecasting and trend analysis provides forward-looking information to thousands of decision makers. Our experienced team of analysts, researchers and consultants use proprietary data sources and various tools and techniques to collect and analyze information.

Our data repository is continually updated and reviewed by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analytical capacity, Transparency Market Research uses rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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VMR
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