The global digital pathology market has been forecast to increase at a compound annual growth rate (CAGR) of 12% over the next five years, increasing from a valuation of $191.00 million in 2012, to be worth $336.61 million by 2017.
Digital pathology is currently gaining momentum as pathologists are seeking to achieve workflow efficiency and cost cutting in the pathological process. It provides ready access to premium quality slide images, enabling better and fast diagnosis, as well as preservation of these digital slides for future reference.
Key factors contributing to growth within the digital pathology market include reduction in laboratory expenses, improvement in operational efficiency, and treatment decisions and patient care.
The rising prevalence of cancer, increasing trends in drug development, companion diagnostics, and ease of consultation are further factors that are expected to propel this market.
The global digital pathology market is broadly segmented into two categories based on its products and application. The product category includes scanners, analytics (visualization software, information management systems and image analysis platforms), storage and communication (sharing services, software), while the application category comprises human pathology and animal pathology.
The global digital pathology market is dominated by the North America, followed by Europe, Asia, and Rest of the World. North America will continue to lead the digital pathology market for the next five years in spite of stringent FDA regulations and premarketing approvals. This is due to the increasing adoption of digital pathology systems by research labs, pharmaceutical and biotechnology companies, clinical research institutes, contract research organisations, etc.
There are a few well-established firms and several small ones operating in the digital pathology market. The major players in the market are Aperio Technologies, Inc. (US), Ventana Medical Systems (US), Leica Microsystems GmbH (Germany ), Digipath (US), and Hamamatsu Photonics (Japan ).
For more information on the digital pathology market, see the latest research: Digital Pathology Market
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