Market Research Report
Digital Pathology Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||808302|
|Published||Content info||114 Pages
Delivery time: 2-3 business days
|Digital Pathology Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: June 1, 2020||Content info: 114 Pages||
The increasing number of teleconsultations, rising adoption of digital pathology to enhance lab efficiency, and increasing application in drug discovery and companion diagnostics are driving the digital pathology market. Moreover, the investment in laboratory expansion and market penetration of key manufacturers are likely to propel the market growth.
Teleconsultation aims to omit geographical and functional distances between two or more geographically separated healthcare providers. It is defined as the consultation by remote telecommunications, primarily for the diagnosis or treatment of a patient at sites that are distant from the patients or primary physicians. Teleconsultation services are being implemented by several hospitals, primary healthcare physicians, private medical practices, and other medical units. Thus, it has proven to be feasible and effective, to potentially reduce costs, provide organizational benefits, and improve patient's satisfaction.
The use of digital pathology in disease diagnosis is also increasing, due to the integration of digital pathology with digital tools, barcoding, specimen tracking, and digital dictation, which improves the safety, quality, and efficiency of disease diagnoses in pathology laboratories.
The market is also expected to be driven by the increasing adoption of telepathology, rising investment in healthcare in developed countries, market penetration of key manufacturers in the developing region, and an increasing focus on drug discovery.
Disease Diagnosis is Expected to Grow the Fastest by Application, over the Forecast Period
For the diagnosis of diseases, digital pathology encompasses different technologies, which include laboratory management systems, digital dictation, dashboards and workflow management, digital image analysis, electronic specimen labeling and tracking, and synoptic reporting tools. Therefore, the integration of digital pathology, along with digital tools, barcoding, specimen tracking, and digital dictation, improves the safety, quality, and efficiency of disease diagnoses in pathology laboratories. Hence, owing to the advantages of using digital pathology for disease diagnoses, the market is expected to grow significantly, over the forecast period.
Asia-Pacific is the Fastest-growing Region and is Expected to Follow the Same Trend over the Forecast Period
The Asia-Pacific digital pathology market is anticipated to exhibit the fastest CAGR during the forecast period, due to the proliferation of advanced imaging modalities in emerging economies, growing investments in the medical field, and the presence of untapped opportunities. Thus, the presence of a large target patient population and booming healthcare industry are encouraging the growth of the regional market.
North America is expected to dominate the overall market throughout the forecast period. The presence of high per capita healthcare expenditure, increasing investment from key players, and the well-established IT and healthcare infrastructure are some of the factors contributing to the growth of the market studied in the region.
The key players in the digital pathology market are adopting strategies, such as mergers and acquisitions, technological developments, and geographical expansions, in order to capture a significant position. Several manufacturers are focusing on developing digital pathology scanners with high throughput, improved resolution, high magnification, and high-end microscopes with automated scanning, which are expected to drive the market growth during the forecast period.