The global digital pathology market is projected to be valued at USD 383.9 Million in 2016 and is expected to grow at a CAGR of 12.3% from 2017 to reach to USD 756.1 Million by 2022. Growth in the market is mainly driven by factors such as the growing applications of digital pathology in drug development and companion diagnostics, ease of consultation, increasing adoption of digital pathology to enhance lab efficiency, rising prevalence of cancer, and increasing initiatives by governments and industry players. Base year considered for the report is 2016 and the forecast period is 2017–2022.
https://www.marketsandmarkets.com/Market-Reports/digital-pathology-market-844.html
Software segment to grow at the highest CAGR during the forecast period
On the basis of product, the digital pathology market is segmented into scanners, software, communication systems, and storage systems. The scanners segment is estimated to account for the largest share of the global market in 2017. The large share of this segment is mainly due to the increasing adoption of digital pathology solutions across the globe. The software segment is projected to witness the highest growth rate during the forecast period, due to the availability of user-friendly, analytical, and advanced functions for pathology diagnosis.
The global market is expected to reach USD 756.1 million by 2022. Growth in the market is mainly driven by factors such as the increasing adoption of digital pathology to enhance lab efficiency, rising prevalence of cancer, growing applications of digital pathology in drug development and companion diagnostics, ease of consultation, and increasing initiatives by governments and industry players.
High cost of digital pathology systems is the major restraint for the market.
A typical digital pathology system, which includes a slide scanner, an image server, and software, costs around USD 150,000 to USD 200,000. Although large hospitals with significant capital budgets can afford these systems, pathologists and academic institutes with limited budgets or IT support often cannot afford them. This limits the uptake of these systems.
However, the introduction of affordable scanners for private pathology practices and the integration of laboratory information systems (LIS) and digital pathology systems are expected to provide a wide array of opportunities for players in the market.
The increasing number of cancer research activities and growing collaborations between academic research institutes, universities, and pathology laboratories are driving the increased uptake of digital systems in human pathology.
Human pathology
Human pathology is the study and diagnosis of diseases through the examination of organs, tissues, cells, and bodily fluids. It presents information drawn from morphologic and clinical laboratory studies with direct relevance to the understanding of human diseases. Digital pathology has significant potential in human specimen slide analysis, facilitating morphological and clinical laboratory studies. It also improves productivity and efficiency and reduces manual errors.
Veterinary pathology
Veterinary pathology includes tissue analysis and diagnosis for veterinary studies. Experimental studies on the mechanisms of specific processes of human diseases using animals as models are widely carried out in veterinary pathology. The integration of digital systems into animal pathology procedures helps in improving the efficiency of the studies.
Digital pathology allows veterinarians to diagnose and enable reporting with higher precision and less time spent per case. It enhances processes such as workload balancing, consultations, second opinions, and frozen-section reviews. Currently, veterinary pathologists are focusing on improving laboratory efficiency and access to clinical specialists through the use of digital pathology systems.
Press Release: https://www.marketsandmarkets.com/PressReleases/pathology.asp