The digital pathology market is poised to reach USD 679.1 million by 2021 from USD 384.3 million in 2016, growing at a CAGR of 12.1% during the forecast period of 2016 to 2021.
Digital pathology is an image-based information environment that allows for the management of information generated from a digital slide. The growth of the overall digital pathology market can be contributed to the rising prevalence of chronic diseases, utilization of digital pathology for drug discovery and companion diagnostics, and growing initiatives by government and industry player’s to enhance pathological services.
The scanners segment is expected to account for the largest share of the digital pathology market, by product, in 2016. Digital pathology scanners create whole-slide images (WSI) from glass slides, converting the images into a digital form which helps to view, analyze, manage, share, and store them easily and efficiently, thus attributing to the largest share of the market. The human pathology segment is expected to account for the largest share of the digital pathology market, by type, in 2016. The large share of this segment is mainly due to increasing utilization of digital pathology for chronic disease diagnosis. The pharmaceutical & biotechnology companies and CROs is expected to account for the largest share of the global digital pathology market, end user, in 2016.Pharmaceutical and biotechnology companies are using digital pathology in drug discovery and companion diagnostics, thus contributing to the largest share of this market. The teleconsultation segment is estimated to account for the largest share of the digital pathology market, by application, in 2016. Increasing demand for pathology consultation in underserved areas through telepath logy attributes to growth of this application.
North America is expected to account for the largest share of the global digital pathology market in 2016, followed by Europe, Asia-Pacific, and the Rest of the World (RoW).The large share of the North American region can be attributed to the presence of major pharmaceutical companies, increased cancer prevalence, presence of top market players, and growing government initiatives in Canada. The Asia-Pacific region is expected to witness the highest growth rate in the forecast period, mainly due to the growing chronic diseases prevalence, entry of top players and less stringent regulations in field of diagnostics.
The digital pathology market witnesses high competitive intensity, as there are several big and small firms with similar product offerings. These companies adopt various strategies (partnerships, joint ventures, collaborations, expansions, new product launches, and acquisition) to increase their market shares and establish a stronger foothold in the global market. Prominent players in the global digital pathology market are Leica Biosystems Nussloch GMBH (Germany), Ventana Medical Systems, Inc.(U.S.), Hamamatsu Photonics K.K (Japan), 3D Histech Ltd(Hungary)., Philips Healthcare (Netherlands), Apollo Enterprise Imaging Corp.(U.S.), Xifin, Inc.(U.S.), Definiens AG (Germany), Visiopharm A/S (Denmark), Omnyx, LLC.(U.S.), Corista LLC (U.S.).
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The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the mgarner a greater market, share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares. The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the digital pathology market. The report analyzes the market based on type, application, therapeutic area, and end user
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the digital pathology market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various digital pathology products across regions.
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the digital pathology market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the digital pathology market