Deep Analysis of Impact of COVID-19 on “Digital Pathology Market 2020-2027” Growth Worldwide….


The global digital pathology market size is expected to reach USD 1.86 billion by 2027, registering a CAGR of 11.8% over the forecast period, according to a new report published by Grand View Research, Inc. Increasing prevalence of chronic diseases triggers the demand for advanced diagnostics, which is expected to drive the market growth. Growing economic stability and awareness pertaining to the benefits of using Computer-Aided Diagnostics (CAD) is further contributing to the growth.
Technological advancements, such as digital imaging, computerization, robotic light microscopy, and multiple fiberoptic communications are some of the key factors driving the adoption of digital pathology. In addition, introduction of cloud-based technology enabling storage of digital slides coupled with secure access to pathologists is expected to serve as a potential growth driver for the market.
Digital pathology has important role in companion diagnostics and drug development pipeline, including molecular biology, biobanking, molecular tissue profiling, and tissue microarray analysis. Increasing demand for high-quality tissue samples in tissue-based biomarker research is expected to propel adoption of the technology over the forecast period.
The market is expected to witness intense competition in near future owing to rising adoption of rigorous strategies by the market players to sustain competition. For instance; whole slide imaging system manufacturers focus on obtaining premarket approval for diagnostic digital systems to capture greater revenue share.
Key market participants include Omynx LLC; 3DHistech, Inc.; Definiens; Olympus Corporation; GE Healthcare; Leica Biosystems; Philips Healthcare; Ventana Medical Systems, Inc.; Objective Pathology Services; Hamamatsu Photonics, Inc.; LigoLAb LLC; and MicroSkan Technologies.
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/digital-pathology-systems-market/request/rs1
Major players, such as Leica Biosystems; Hamamatsu Photonics, Inc.; and Olympus Corporation held a dominant market share in 2020. These companies are increasingly undertaking new product developments, extensive collaborative strategies, and mergers and acquisitions to gain more profits. For example, in March 2017, Leica Biosystems entered into a strategic partnership with Leeds Hospital to improve productivity and workflow.
Further key findings from the study suggest:
·         Devices held the dominant market share in 2020 owing to increased use in academic research
·         Rising implementation of slide management system in stratified medicine and tissue-based biomarker research is one of the key contributing factors for the dominance of this technology
·         Software segment is expected to witness lucrative growth in near future as the product assists in faster diagnosis and synchronization of patient data, where healthcare professionals can remotely access this information
·         Digital pathology is increasingly used in academic research owing to various benefits, such as cost-effectiveness and rapid results
·         Disease diagnosis segment is expected to witness lucrative growth over the forecast period owing to the increasing prevalence of cancer and demand for noble diagnosis techniques
·         Availability of unified platforms for workflows in pathology is anticipated to boost the usage of computer-aided imaging technology in academic research, which is anticipated to boost the segment growth
·         Hospital led the end-use segment in 2020 owing to the increasing adoption of digital pathology
·         The digital pathology market is expected to remain innovation-led, with frequent acquisitions and strategic alliances. New product development and well-established distribution channels are key for competitive advantage of the leading players
·         Increasing usage rate of the digital imaging systems to facilitate faster diagnosis, particularly of chronic diseases; the increased uptake of these products serves as the key driver of this market
The other key participants are Royal Philips and Ventana Medical Systems. In June 2018, a Dutch conglomerate, Royal Philips, acquired the Irish PathXL, one of the largest pathology image-based analysis firms. This acquisition was carried out to develop integrated tools targeting applications in computational biology, workflow solutions, education, and image analytics.
This acquisition is aimed at underpinning the gradual transition of medical institutions present across the globe from the traditional systems to digitized pathology systems. Thus, the acquisition will further enable pathologists perform high-throughput analysis of colossal clinical image datasets that are diverse in nature and facilitate improvement in the diagnosis quality, thereby presenting a potential for inclusion of new therapies to enhance patient health outcomes.
The global digital pathology market size was valued at USD 767.6 million in 2020 and is expected to witness a CAGR of 11.8% during the forecast period.Increased focus on improving workflow efficiency and demand for faster diagnostic tools for chronic diseases, such as cancer, have been key factors driving the growth. Rising prevalence of chronic conditions is anticipated to surge clinical urgency to adopt digital pathology to improve existing poor patient diagnostic imaging measures and to reduce high cost associated with conventional diagnostics.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-digital-pathology-market
Grand View Research has segmented the global digital pathology market on the basis of the product, application, end use:
Digital Pathology Product Outlook (Revenue, USD Million, 2016 - 2027)
·         Software
·         Device
o    Scanners
o    Slide Management System
·         Storage System
Digital Pathology Application Outlook (Revenue, USD Million, 2016 - 2027)
·         Drug Discovery & Development
·         Academic Research
·         Disease Diagnosis
o    Cancer Cell Detection
o    Others
Digital Pathology End-use Outlook (Revenue, USD Million, 2016 - 2027)
·         Hospitals
·         Biotech & Pharma Companies
·         Diagnostic Labs
·         Academic & Research Institutes
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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