Digital Pathology Market Report, published by Progressive Markets, projects that the global market is estimated to amass around $1,052 million by 2022, registering a CAGR of 17.6% during 2017-2025.The North American region had a major share in 2015 and is expected to continue its dominance throughout the forecast period.
Research Factor Included in Digital Pathology Industry
Increasing popularity of virtual slides as compared to physical slides, technological advancements, and cost-effective products in the digital pathology segment majorly drive the market. Workflow efficiency, analysis efficiency, improved productivity & patient care, and accuracy are a few other factors supplementing the growth of this market. However, the factors restraining the market growth are the scarcity of reimbursement policies, mediocre infrastructure, and pending product approvals.
Segmentation of Digital Pathology Market by Product and End User
The hospitals & diagnostic centres category contributed about 40% of the global digital pathology market in 2015, and is set to continue this trend throughout the forecast period. The growth is attributed to the demand for precise and faster diagnosis along with increasing government efforts for the development of digital pathology globally. Moreover, growing trends toward the adoption of digital pathology by hospitals instead of the conventional methods is among the key factors driving the market growth. Image analysis informatics would be the fastest growing segment in Asia-Pacific, registering a CAGR of 34.9%.
In 2015, North America had the majority share in the overall digital pathology market and is expected to grow at a CAGR of 14.7% during the study period. Increased acceptance of digital pathology procedures for accurate results and improved efficiency in large number of hospitals and clinics. Asia-Pacific is expected to witness rapid growth of digital pathology products with a CAGR of 26.6%, with major contribution from China.
Key Manufacturer of Global Digital Pathology Market
The report profiles Visiopharm, Indica Labs, Definiens AG, Digipath Inc., Koninklinje Philips N.V., Danaher Corporation (Leica Microsystem), Hamamatsu Photonics K. K., PerkinElmer, Inc, Pixcelldata Ltd., Nikon Corporation, and Glencoe Software Inc as key players.