Published On : 28 May 2018
The global market for digital pathology is reporting a significantly high growth in its valuation. The rising initiatives by governments and various industry players and the augmenting uptake of digital pathology to improve lab efficiency are boosting the growth of this market considerably. Apart from this, the rising prevalence of cancer and the augmenting applications of digital pathology in drug development and companion diagnostics are also supporting the market’s growth across the world, substantially.
Going forward, the rising geriatric population, which is highly susceptible to chronic conditions is likely to fuel the demand for technologically advanced diagnostic techniques in the near future, translating into a high rise in the global market for digital pathology.
High Demand to Boost Product Categories
The global market for digital pathology is broadly analyzed on the basis of the product and the application. Based on the product, the market is classified into whole slide imaging, image analysis informatics, information management system storage and communication, digital IVD devices, and telepathology. With the constantly increasing demand among consumers, these segments are expected to report high growth over the next few years. Based on the application, the market is categorized into educational institutes, clinical labs, and pharma and biotech companies. The pharma and biotech companies have surfaced as the key contributors to this market and are projected to remain on the top over the next few years.
United States to Retain Dominance
On the basis of the region, the global market for digital pathology reports its presence across the United States, Japan, China, India, Europe, and the South East Asia. The United States has been leading the global market for a while. With the continuous investments for research and development, increasing deployment of supportive government initiatives related to the development of technologically advanced systems, augmenting uptake of digital imaging, and the presence of a large pool of leading players in this region, the United States market for digital pathology is anticipated to remain on the top over the next few years.
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Leading Players to Emphasize on Strategic Collaboration
The global market for digital pathology demonstrates a highly competitive vendor landscape. The leading players in this market are Koninklijke Philips, Visiopharm, Sectrae, OptraSCAN, Digipath, Leica Biosystems, Biogeniux, 3DHISTECH, HCL Technologies, Pathology Devices, Nikon Corp., PerkinElmer, Indica Labs, Danaher Corp., Pixcelldata, Glencoe Software, Hamamatsu Photonics, Pathcore, and Ventana Medical Systems. These participants are emphasizing on integrating advanced technologies in their products and services to remain relevant in the competition. Over the forthcoming years, these players are projected to take up strategic alliances, mergers, and acquisitions in an effort to gain an edge over their competitors.
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