The global digital pathology market size is expected to reach USD 887.7 million by 2025
LONDON, July 26, 2018 /PRNewswire/ -- Digital Pathology Market Size, Share & Trends Analysis Report By Technology (Whole Slide Imaging, Telepathology), By Application (Academic Research, Diagnosis, Drug Discovery), By End-Use, And Segment Forecasts, 2018 - 2025
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The global digital pathology market size is expected to reach USD 887.7 million by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 12.0% during the forecast period. Growing prevalence of chronic diseases such as cancer is one of the key factors stimulating market growth. As a consequence of high prevalence of cancer, pathologists require specific data that facilitates personalization of therapies for patients. Thereby, digital pathology is increasingly being preferred by pathologists as it accelerates the rate of diagnosis, increases diagnostic accuracy, and provides therapeutic recommendations to improve patient outcomes. Pathologists and researchers require highly efficient biomarker quantification tool for efficient cancer diagnosis, thus augmenting the demand for automatic image analysis, which helps in molecular, functional, and genetic characterization of tumors.
Benefits associated with digital pathology is responsible for the broadening growth potential of the market.It also facilitates histological slide sharing and eliminates issues pertaining to sharing sample of live cells and degradation of these samples.
It also enables a pathologist to share sample specimen images, thus eliminating the need for transportation of slides.Significant increase in the number of cancer cases has resulted in discordance in ratio of patients to that of pathologists.
Shortage of pathologists owing to poor recruitment and significant increase in the complexity of diagnostics has raised the demand for digital pathology further for evaluation of chronic diseases.
Further key findings From the report suggest:
• Whole slide imaging accounted for the largest share of the market in 2016 owing to increasing awareness regarding associated advantages such as automated scanning
• The telepathology segment is anticipated to register a moderate growth rate. This type of technology offers various benefits such as immediate access to offsite pathologists and subspecialty pathologists
• The academic research segment dominated the market in terms of application in 2016, owing to factors such as growing usage of digital pathology in various research procedures such as biomarker profiling and tumor morphological study
• Disease diagnosis is likely to post a remarkable CAGR during the forecast period owing to factors such as increasing incidence of chronic diseases such as diabetes and cancer
• In 2016, North America held a substantial share owing to growing prevalence of chronic diseases due to unhealthy lifestyles and high stress levels among population
• The Asia Pacific digital pathology market is projected to progress at a significant CAGR during the same period owing to improving healthcare systems, rising healthcare expenditure, and growing awareness.
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