Digital Pathology Market: Global Market Outline
Digital Pathology Market: Digital pathology can be defined as image-based information for the analysis, management, and interpretation of information achieved from a digital slide. In the field of pathology digital pathology is emerging technology. In the modern technology, specimen samples containing slides are converted into digital images for easy view, storage, analysis, and management of data collected and this enables the virtual microscopy, technology that enables posting image and transmission throughout the network connected. Data rich image helps in maintenance of patient health records electronically, therefore helps to compile and distribute the information to build the central database.
The growth of digital pathology Market globally anticipated grow at significant rate owing to the cost-effective procedures, ease of slides transportation virtually, and high efficient analysis of digital slides. Images can processed by computing algorithms, and can produce enhanced output. Furthermore, the time required for the diagnosis also reduced significantly through digital pathology techniques. In addition, low chances of errors in observation as well as interpretation make it the digital pathology as most significant technology in the pathology. Therefore, digital pathology showing increased adaptation rates over the conventional pathology treatments. Based on aforementioned factors digital pathology market is expected to show significant growth rate over the forecast period. However, lack of skilled personnel and unfavourable reimbursement policies are factors that expected to hamper the digital pathology market growth.
Digital Pathology Market segmented based on product, type, application, end user, and region.
Based on product, digital pathology market segmented as:
- Communication Systems
- Storage Systems
Based on type, digital pathology market is segmented as:
- Human Digital Pathology
- Animal Digital Pathology
Based on application, digital pathology market is segmented as:
- Disease Diagnosis
- Drug Discovery
Based on the end user, digital pathology market is segmented as:
- Pharmaceutical companies
- Academic institutes
Digitalization of pathology led to the automation of the tests during diagnosis, thus saving cost and efforts. For example, now a single digital instrument can perform those tests that were previously performed using five instruments by pathologists. The net effect has been observed in the form of impressive cost-reduction in total cost of diagnostic procedures and services. Digitization of tissue slides offers pathologists ease in diagnosis and detection of disease and digitized tissue can be analyzed using computer algorithms. The advancements in digital pathology is expected to take the conventional pathology to a more advanced level. Digital pathology evolution contributed to faster and accurate detection and diagnosis of chronic diseases. Currently, market players adopting collaborations, product develepments and launches as key strategies. For instance, In 2016 Visiopharm, partenerd with Inter Instrument A and LRI Imaging, to deploy digital pathology systems in Scandinavia.
Geographically, digital pathology market segmented into five regions they are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to grow at significant rate in digital pathology market owing to technological advancements and increase in R&D investments. Europe is expected to be another major market for the digital pathology owing to presence of large number of patient pool. Asia Pacific is expected to grow at the significant growth rate owing to adaptation rates of digital imaging in emerging economies, rising investments to adopt new technologies and devices, and the presence of untapped opportunities.Asia Pacific market expected to hav lucrative market growth opportunity owing to increase in incidence of cancer and growing demand for novel treatment options, developing healthcare facilities, and low laboratory expenses .
Some of the major players in global digital pathology are Perkin Elmer, Inc. (U.S.), Olympus Corporation (Japan), AstraZeneca plc (Definiens AG) (U.K.), Sectra AB (Sweeden), GE Healthcare (U.K.), Inspirata Co. (U.S.), The Danaher Corporation (U.S.), Koninklijke Philips N.V (Netherlands), F. Hoffmann-La Roche AG (Ventana Medical Systems) (Switzerland), Digipath Co. (U.S.), Carl Zeiss AG (Germany), 3D-Histech Ltd. (Hungary), Yokogawa Electronic Corporation (Japan), Quorum Technologies Inc. (Canada) and Hamamatsu Photonics K.K. (Japan) to name a few.
- In March 2017, Danaher Corporation partened with Leeds Hospital to improve productivity and workflow
- In June 2016, Royal Philips, acquired PathXL, a pathology, image-based analysis firm to develop integrated tools targeting applications in computational biology, education, workflow solutions, and image analytics
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