Market Outline: Telepathology Market
Telepathology referred as practising pathology from a distance and telecommunication technology is used for facilitating the transmission of pathology image rich data between two distant locations for diagnosis, research and education. Pathology plays a very important role in identifying the characteristics and causes of the diseases in medical field. Electronic medical records also increase the administrative efficiency and reduces the medical cost. There are three modes of telepathology are static (or store-and-forward), dynamic (or real-time) and hybrid (or virtual. Static telepathology refers to the process of pre-selection and digitalisation of representative image by sender pathologist and sending it to the remote pathologist via e-mail or internet. Dynamic telepathology is most appropriate system for frozen-selection telepathology and for understaffed area. This involves transmission of microscopic slide images to recipient in real time via live communication. Whereas, hybrid pathology is combining both static and dynamic telepathology modes, a series of images that automatically stitched together in a software, compressed to a single file form and transmitted on the dynamic telepathology session start.
Market Dynamics: Telepathology Market
Global telepathology market is driven by the technological advancements, digitalization of pathology. In addition, extended reach, cost-effectiveness of the services and quick diagnosis are expected to bolster the global telepathology market over the forecast period. Furthermore, ease of operation, increase in government funding for hospitals and growing demand for telemedicine are also expected to further boost the market growth during the forecast period. However, factors such as the high cost of devices, lack of skilled professionals, and lack of infrastructure in underdeveloped and developing countries expected to hamper the market growth over the forecast period. Moreover, monitoring of telepathology requires high amount of investment and errors in interpreting the digital data may act as restraints for the market growth.
Market Scope: Telepathology Market
Global Telepathology market is segmented based on services, application and end user
Based on services, telepathology market is segmented into
- Static Telepathology
- Dynamic Telepathology
- Hybrid Telepathology
Based on application, telepathology market is segmented into
Based on end user, telepathology market is segmented into
- Pharmaceutical & Biotechnology Firms
- Academic Institutions
Market Summary: Telepathology Market
Telepathology market is technology driven segment of medical field. It is an innovative digital imaging and telecommunication technology that is changing the healthcare delivery systems globally. The regional players are involving in acquisition of the pathology providers that present locally and strengthening their position in market. For instance, in November 2016, Visiopharm A/S acquired LRI Imaging AB, a leading diagnostic digital pathology provider in Sweden to become leader in diagnostic digital pathology. Similarly, in June 2016, Philips acquired an Irish digital pathology firm, PathXL and its digital pathology imaging technology. By this acquisition, Philips seeks to accelerate drive to support global medical institutions and their transition to digitalize workflows.
Region Analysis: Telepathology Market
Geographically, global telepathology market has been segmented into Latin America, Europe, Asia- Pacific, North America, and the Middle East & Africa. North America market expected to grow at significant rates owing to the favourable healthcare policies that use digital pathology systems, well-established healthcare infrastructure and growing ageing population who are more susceptible to the physical problems that require imaging technologies for diagnosis. Europe telepathology market is expected to grow at notable rates owing to prevalence of the diseases such as cancer that require the pathological diagnosis, growing awareness and well-developed healthcare infrastructure. Asia Pacific region is expected to be a fastest growing market for telepathology owing to the developing healthcare infrastructure and digitalization of the medical services in order to deliver the cost-effective services. However, in developing countries such as India and China lack of skilled professionals and training for optimum utilisation of telepathology may hinder the market growth.
Market Participants: Telepathology Market
Some of the players in global telepathology market are Southeastern Pathology Associates (U.S.), Visiopharm A/S (Denmark), Laboratory Corporation of America Holdings (LabCorp) (U.S.), University Health Network (Canada), Canada Health Infoway,Telemedicine Clinic (TMC) (Spain), microDimensions (Germany), AMD Global Telemedicine, Inc. (U.S.), and Polycom, Inc. (U.S.) to name a few.
Notable Market Developments: Telepathology Market
- In March 2016, Laboratory Corporation of America Holdings acquired Pathology Inc. to strengthen its pathology services.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2012-2016) and forecast (2017-2023)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market