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Digital Pathology Market : Current Trends and Future Opportunities

(Medical-NewsWire.com, November 10, 2021 ) Global Market Overview:

The global digital pathology market is projected to reach USD 1,054 million by 2025 from USD 553 million in 2020, at a CAGR of 13.8% during the forecast period. The growth of this market is majorly attributed to the increasing adoption of digital pathology to enhance lab efficiency, rising prevalence of cancer, growing application of digital pathology in drug development & companion diagnostics, and increasing initiatives by industry players.

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Recent Developments
In 2019, Leica Biosystems (US) launched the Aperio GT 450
In 2019, F. Hoffmann-La Roche Ltd (Switzerland) launched the uPath enterprise software
In 2019, XIFIN (US) launched VisualStrata
Digital Pathology Market: Growth Drivers and Opportunities

Digital pathology helps improve lab efficiency by reducing costs, decreasing turnaround times, and providing users with access to subject-matter expertise. Improvements in lab efficiency are critical as patients and physicians are dependent on lab results for diagnostic decisions, and diagnostic tests are required to be completed and reported quickly and accurately. Moreover, access to digital slides via web services eliminates shipping costs and pathologists’ travel time. The outbreak of the COVID-19 pandemic has led to the implementation of lockdowns and social distancing restrictions. Such restrictions have increased the demand for digital pathology solutions, as these can be used by pathologists to remotely view diagnostic results for primary diagnosis. In order to gain a competitive edge and deliver quick services, a large number of pathologists and pathology labs are adopting digital pathology.

The development of affordable scanners is expected to offer growth opportunities for players operating in the digital pathology market. Most private medical practices are small businesses and cannot afford expensive digital pathology systems. The introduction of affordable scanners will encourage their adoption among pathologists with low or limited budgets.

Pharmaceutical & biotechnology companies are the largest end-user segment of the digital pathology market.

On the basis of end-users, the digital pathology market is segmented into pharmaceutical & biotechnology companies, hospitals and reference laboratories, and academic & research institutes. The pharmaceutical & biotechnology companies segment accounted for the largest share of the global digital pathology market, by end-user, in 2019. Factors contributing to the large share and high growth rate of this segment include the increasing use of digital pathology for drug discovery studies and drug toxicology testing. Biotechnology companies also use digital pathology for biobanking, biopharmaceutical studies, molecular assays, and the development of individualized medicine.

North America dominates the digital pathology market during the forecast period.

In 2019, North America accounted for the largest share of the digital pathology market, followed by Europe. Factors such as the high prevalence of cancer and increasing initiatives by industry players are driving the digital pathology market in North America. However, the Asia Pacific region is expected to grow at the second-highest rate during the forecast period.

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Leica Biosystems (US), Koninklijke Philips N.V. (Netherlands), and Hamamatsu Photonics K.K. (Japan) are the key players operating in the digital pathology market. Other prominent players in this market include Roche (Switzerland), 3DHISTECH (Hungary), Apollo Enterprise Imaging (US), XIFIN (US), Huron Digital Pathology (Canada), Visiopharm A/S (Denmark), Corista (US), Indica Labs (US), Objective Pathology Services (Canada), Sectra AB (Sweden), OptraSCAN (India), Glencoe Software (US), KONFOONG BIOTECH INTERNATIONAL CO., LTD (China), Inspirata Inc. (US), Mikroscan Technologies (US), Proscia Inc. (US), and Kanteron Systems (Spain).

MarketsandMarkets™

Mr. Aashish Mehra

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

Source: EmailWire.com


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