Sep 17, 2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Digital Pathology Market.
It was estimated prior to this unanticipated outbreak that the Digital Pathology Market was expected to grow at a CAGR of 13.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Digital pathology is referred to as an image-based information setting that is enabled by computer technology which allows management of information generated via a digital slide. Digitalization of pathology has further led to the automation of tests during disease diagnosis among other applications. A single digital device can perform tests that were previously carried out using five instruments by pathologists. These solutions offer analysis & scrutiny of images on a computer, online storage of digital slides, and high-resolution sample scanning, which helps the pathologists to cross-examine slides without physical evidences.
Increasing efficiency of digital pathology systems, ease of virtual transportation of slides, and efficient cost of digital pathology products are the key factors augmenting the market growth. Moreover, the surge in initiatives toward commercialization of cost-effective digital pathology systems is further expected to create lucrative opportunities for the market players during the review period. However, a lack of skilled professionals and unclear reimbursement policies are expected to hamper the industry expansion.
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Based on product, the global digital pathology market has been segmented into software, device, storage, and system. Among these, the device segment witnessed the highest market share in 2020 and is projected to register a healthy CAGR during the assessment period. This is mainly ascribed to the rise in academic research activities and improved resolution of slide management systems and scanners, thereby bolstering the segment growth.
By region, the North American market accounted for the largest market share of over 40% in 2020 and is likely to grow at a robust CAGR during the review period. This can be attributed to supportive government initiatives about the development of technologically advanced systems, continual deployment of R&D investments, growing adoption of digital imaging, and the presence of major players boosting the industry growth in the region.
Key players operating in the global Digital Pathology market are-
- Danaher (The U.S.),
- Hamamatsu Photonics, Inc (Japan),
- Koninklijke Philips N.V. (Netherlands),
- Olympus Corporation (Japan),
- F. Hoffmann-La Roche Ltd (Switzerland),
- Mikroscan Technologies (The U.S.),
- Inspirata, Inc (The U.S.),
- Visiopharm A/S (Denmark),
- Huron Digital Pathology (Canada), and
- 3DHISTECH Ltd. (Hungary).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Digital Pathology analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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