Published by Coherent Market Insights
Posted on September 21, 2021
Digital pathology refers to an imaging system that can convert simple microscopic images into digital ones. This technique is widely employed in the screening of cancer, infectious diseases, as well as other major diseases. The global digital pathology market is estimated to accrue around US$ 1,182.9 million, in terms of value, by the end of 2027.
Market Drivers, Opportunities & Restraints:
Increasing clinical and preclinical trials are expected to bolster the growth of the global digital pathology market over the projected period. For instance, in March 2019, ClinicalTrials.gov listed 298,856 registered studies under its clinical trials. Manufacturers in this market are presently concentrating on business expansion across the some of the emerging economies of the world, where an increasing number of hospitals are adopting digital pathology products and services. In December 2019, Health Care Global Enterprise Ltd. (HCG) was pronounced as the first hospital in India to completely digitize the histopathology workflow for primary diagnosis, at the HCG-Strand Laboratory located in Bengaluru.
On the contrary, absence of regulatory standards and lab information systems, which have not yet been enabled to support digitalization, is a prominent factor expected to impede the growth of the global digital pathology market in the near future.
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Market Segmentation:
The scanners sub-segment in the global digital pathology market was valued at US$ 218.5 million in 2018 and is further projected to witness a CAGR of 11.6% during the forecast period. Scanners are medical instruments that scan digital slides in the field of digital pathology.
The histopathology segment, followed by the haematology and chemical pathology segments, held a dominant position in the global digital pathology market in 2018, accounting for an 81.4% market share. Histopathology is widely adopted for cancer diagnosis, and increasing prevalence of cancer supports the growth of this segment. According to the National Cancer Institute (NCI), an estimated 1,735,350 new cases of cancer were diagnosed in the U.S. in 2018. The hospitals sub-segment in end user segment accounted for US$ 113.0 million in the global digital pathology market in 2018. Furthermore, artificial intelligence-powered digital pathology solutions are expected to cater to the rapidly increasing global demand for the faster diagnosis of such serious diseases.
Competitive Landscape:
The most prominent players operating in the global digital pathology include Perkin Elmer, Inc., Definiens AG, Sectra ABss, Koninklijke Philips N.V., Paige, GE Healthcare, Inspirata Co., Ventana Medical Systems, Inc., Leica Biosystems, 3D-Histech Ltd., and Hamamatsu Photonics.
These market contenders are highly focused on the implementation of various inorganic growth strategies to expand their product portfolios. For instance, in December 2019, Sectra, a medical imaging IT & cyber security company, joined forces with Leica Biosystems for offering an integrated clinical pathology solution to address the clinical needs of enterprise-level customers, such as academic medical centers.
Establishment of new digital pathology centers is further expected to accelerate the growth of the global digital pathology market in the foreseeable future. For instance, in June 2018, LabCorp (NYSE: LH) collaborated with Mount Sinai Health System to establish the Mount Sinai Digital and Artificial Intelligence (AI)-Enabled Pathology Center of Excellence.
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Regions/countries that are expected to witness the fastest growth rates during the forecast period.
The latest developments, market shares, and strategies that are employed by the major market players.
Key Market Developments:
In November 2019, ContextVision, a medical technology software company, received patent protection in the U.S. for its proprietary method, called Master Annotation.
In December 2019, Inspirata, a cancer informatics & digital pathology provider, announced a new partnership deal with Cirdan, a laboratory information systems provider, which is aimed at helping the effective adoption of the histopathology workflow across clinical laboratories in the U.K.
Market Taxonomy:
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The post Digital Pathology Market Size & Trends 2020 – expected to reach US$ 1,182.9 Mn with CAGR of 11.6% by 2027 | Coherent Market Insights appeared first on Gatorledger.
Digital pathology refers to an imaging system that can convert simple microscopic images into digital ones. This technique is widely employed in the screening of cancer, infectious diseases, as well as other major diseases. The global digital pathology market is estimated to accrue around US$ 1,182.9 million, in terms of value, by the end of 2027.
Market Drivers, Opportunities & Restraints:
Increasing clinical and preclinical trials are expected to bolster the growth of the global digital pathology market over the projected period. For instance, in March 2019, ClinicalTrials.gov listed 298,856 registered studies under its clinical trials. Manufacturers in this market are presently concentrating on business expansion across the some of the emerging economies of the world, where an increasing number of hospitals are adopting digital pathology products and services. In December 2019, Health Care Global Enterprise Ltd. (HCG) was pronounced as the first hospital in India to completely digitize the histopathology workflow for primary diagnosis, at the HCG-Strand Laboratory located in Bengaluru.
On the contrary, absence of regulatory standards and lab information systems, which have not yet been enabled to support digitalization, is a prominent factor expected to impede the growth of the global digital pathology market in the near future.
Request for Sample Copy Here: https://www.coherentmarketinsights.com/insight/request-sample/379
Market Segmentation:
The scanners sub-segment in the global digital pathology market was valued at US$ 218.5 million in 2018 and is further projected to witness a CAGR of 11.6% during the forecast period. Scanners are medical instruments that scan digital slides in the field of digital pathology.
The histopathology segment, followed by the haematology and chemical pathology segments, held a dominant position in the global digital pathology market in 2018, accounting for an 81.4% market share. Histopathology is widely adopted for cancer diagnosis, and increasing prevalence of cancer supports the growth of this segment. According to the National Cancer Institute (NCI), an estimated 1,735,350 new cases of cancer were diagnosed in the U.S. in 2018. The hospitals sub-segment in end user segment accounted for US$ 113.0 million in the global digital pathology market in 2018. Furthermore, artificial intelligence-powered digital pathology solutions are expected to cater to the rapidly increasing global demand for the faster diagnosis of such serious diseases.
Competitive Landscape:
The most prominent players operating in the global digital pathology include Perkin Elmer, Inc., Definiens AG, Sectra ABss, Koninklijke Philips N.V., Paige, GE Healthcare, Inspirata Co., Ventana Medical Systems, Inc., Leica Biosystems, 3D-Histech Ltd., and Hamamatsu Photonics.
These market contenders are highly focused on the implementation of various inorganic growth strategies to expand their product portfolios. For instance, in December 2019, Sectra, a medical imaging IT & cyber security company, joined forces with Leica Biosystems for offering an integrated clinical pathology solution to address the clinical needs of enterprise-level customers, such as academic medical centers.
Establishment of new digital pathology centers is further expected to accelerate the growth of the global digital pathology market in the foreseeable future. For instance, in June 2018, LabCorp (NYSE: LH) collaborated with Mount Sinai Health System to establish the Mount Sinai Digital and Artificial Intelligence (AI)-Enabled Pathology Center of Excellence.
Get Flat USD 2000 OFF
Buy-Now this research report: https://www.coherentmarketinsights.com/promo/buynow/379
Reasons to Purchase this Report:
Current and future of global Cancer Registry Software Market outlook in the developed and emerging markets
The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
Regions/countries that are expected to witness the fastest growth rates during the forecast period.
The latest developments, market shares, and strategies that are employed by the major market players.
Key Market Developments:
In November 2019, ContextVision, a medical technology software company, received patent protection in the U.S. for its proprietary method, called Master Annotation.
In December 2019, Inspirata, a cancer informatics & digital pathology provider, announced a new partnership deal with Cirdan, a laboratory information systems provider, which is aimed at helping the effective adoption of the histopathology workflow across clinical laboratories in the U.K.
Market Taxonomy:
Contact US:
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837
The post Digital Pathology Market Size & Trends 2020 – expected to reach US$ 1,182.9 Mn with CAGR of 11.6% by 2027 | Coherent Market Insights appeared first on Gatorledger.
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