The Global Digital Pathology Market was valued at USD 4.96 billion in 2019 and is estimated to reach USD 17.28 billion by 2030, expanding at a CAGR of 11.9% during the forecast period from 2020 to 2030.
Digital pathology is also known as digital imaging, virtual slides, or virtual microscopy. It is a dynamic image-based environment that helps in the procurement, administration, and interpretation of pathological information by using a computer. It helps pathologist observe slides under a microscope and digitize the images using an image analysis software. Digital pathology provides live and high-resolution images that aid pathologist to diagnose better.
The adoption of digital pathology has increased in numerous applications such as diagnosis of diseases, research, and drug discovery. Also, the demand for digital pathology has increased due to the rising occurrence of chronic diseases around the world.
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Lucrative growth opportunities makes the digital pathology market extremely competitive. Some of the major players in the market are Danaher Corporation, 3Dhistech Limited, Glencoe software, Hamamatsu Photonics KK, Indica labs Inc., Koninklijke Phillips NV, Nikon Corporation, PerkinElmer Inc., Roche, Visiopharm A/S and more. Strategic alliances and acquisitions adopted by market players are among the major key strategies exercised to maintain market dominance. For instance, In April 2019, HCG introduced US FDA approved digital pathology solution by Philips Intellisite Pathology Solutions across all its centers in India. This technology marks a major step towards the treatment of cancer through speed, precision, efficiency and ease of use with the potential to deliver significant clinical advantages to both the patients and physicians.
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Market Segmentations and Scope of the Study:
The global digital pathology market share has been segmented on the basis of product, application, end user and geography. On the basis of product, the market is categorized into scanners, software and storage and communication systems. On the basis of application, the market is segmented into teleconsultation, disease diagnosis, drug discovery and training & education. On the basis of end user, the market is segmented into educational, clinical and pharma & biotech companies. Based on geography the market is segmented into North America, Europe, Asia Pacific and RoW.
The North America region is anticipated to hold the highest market share owing to the increasing adoption of digital pathology, increase in R&D investments, presence of big market players and high consumer awareness are among other factors expected to enhance market growth in this region.
However, Asia Pacific region is predicted to show rapid and consistent growth in market share within the forecast period. This is attributed to the factors such as developments in healthcare facilities, increasing adoption of advanced imaging modalities, and penetration of multi-national companies in the region to harness the untapped potential.
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