Digital Pathology Market to Reach $1,052 Million Globally, by 2022 - Allied Market Research

21 Jul, 2016, 07:30 ET from Allied Market Research

PORTLAND, Oregon, July 21, 2016 /PRNewswire/ --

According to a new report by Allied Market Research, titled, "World Digital Pathology Market- Opportunities and Forecasts, 2014-2022," the digital pathology market is projected to reach $1,052 million by 2022. North America accounted for major share in 2015 and is expected to maintain its dominance throughout the forecast period.

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The market is majorly driven by growing popularity of virtual slides as compared to physical slides, technological advancements, and cost-effective products in the digital pathology segment. Other factors contributing to the growth of this market include workflow efficiency, analysis efficiency, improved productivity & patient care, and accuracy. However, the factors restraining the market growth are the lack of reimbursement policies, inadequate infrastructure, and pending product approvals.

To know more about the report, visit the website at https://www.alliedmarketresearch.com/digital-pathology-market

Whole slide imaging is a leading segment due to its diversified use in surgical pathology, clinical diagnosis, consultation, and education. It is also used in proficiency testing, which is a part of cytopathology. The scanners/digitizers segment accounted for the largest share of the overall whole slide imaging market in 2015; while reagents is projected to be the fastest growing segment at CAGR of 15.3% during the study period.

The hospitals & diagnostic centers segment accounted for about two-fifths of the world digital pathology market in 2015, and is projected to maintain this trend throughout the forecast period. The rise is attributed to the demand for accurate 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.

Key Findings: 

  • Whole slide imaging is the major segment, followed by image analysis-informatics; and together they occupy approximately three-fourths of the total market.
  • Image analysis-informatics, is the fastest growing segment, growing at a CAGR of 25.2%.
  • Pharmaceutical & biotechnology companies are projected to be the fastest growing end use segment, growing at a CAGR of 19.9%.
  • In North America, whole slide imaging is expected to dominate the market followed by image analysis-informatics, during the analysis period.
  • Image analysis-informatics is expected to be the fastest growing segment in Asia-Pacific, registering a CAGR of 34.9%.

In 2015, North America accounted for the major share of the overall digital pathology market and is expected to grow at a CAGR of 14.7% during the forecast period. The growth is mainly attributed to the large number of hospitals and clinics adopting digital pathology procedures for accurate results and improved efficiency. However, Asia-Pacific is expected to grow rapidly at a CAGR of 26.6%, with a major contribution from China, owing to cost-effective products.

The key companies profiled in the report are Definiens AG, Visiopharm, Indica Labs, Digipath Inc., Danaher Corporation (Leica Microsystem), Koninklinje Philips N.V., Hamamatsu Photonics K. K., PerkinElmer, Inc., Nikon Corporation, Pixcelldata Ltd., and Glencoe Software Inc.

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SOURCE Allied Market Research