Global Digital Pathology Systems Market is Driven by Increasing Adoption of Digital PathologyPublished Date: July 12, 2020 |
Digital pathology can be defined as a dynamic and image-based environment that enables management, interpretation and acquisition of pathology information from a digital slide to a computer screen. Digital pathology is poised to streamline the workflow and activities of diagnostic laboratories and pathologists in near future. It is considered as an emerging technology that offers substantial improvement in various applications such as drug discovery and development, diagnostic test and academic and academic research.
Accurate pathological assessment, cost effective, appropriate and timely treatment and delivery of high-quality healthcare are some of the prime factors that would accentuate the global market demand for digital pathology systems. Moreover, rising prevalence of cancer, increasing workload of pathologists and advancements in laboratory diagnostic tests drives the growth of digital pathology systems market globally. However, sampling error and high initial setup cost is expected to hamper the demand of digital pathology systems market. In addition, stringent regulatory requirements for approval of digital pathology systems would affect commercialization of these devices/products and thereby reduce the market growth to some extent. On the other hand, countries in Asia-Pacific (India, Japan, China, Malaysia and Australia) hold immense potential for digital pathology systems market due to large patient pool suffering from various cancer coupled with increasing healthcare expenditure.
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The global market for digital pathology systems is segmented based on technology as virtual microscopy and telepathology. Digitizations of microscopic slides, cost effectiveness, easy to communicate and share digital information are some of the prime factors that support the growth of virtual microscopy for disease diagnosis and detection purpose. Thus, the global virtual microscopy segment market is expected to grow at the highest CAGR during the forecast period from 2020 to 2027. Telepathology segment is further categorized as static and dynamic telepathology. Dynamic telepathology is considered as the most promising technique in telepathology and is expected to grow at the highest CAGR during the forecast period owing to robust and reliable delivery of microscopic slide images. However, stringent regulatory compliance pertaining to digital pathology systems approval procedure and their utilization in clinical settings might hamper the growth of digital pathology systems market to some extent.
In addition, based on application the global digital pathology systems market is segmented as drug discovery and development, disease diagnosis and academic research. The disease diagnosis application segment accounted for the fastest growing market segment of the global digital pathology systems market. This growth was mainly due to accurate and efficient diagnostic test result, rapidly analyzing slides in short span of time with few diagnostic errors and less cost compared to normal pathology. For instance, National Health Service (NHS) stated that, pathology is involved in around 70% of the diagnosed cases performed every year and among these, most of them are screened through digital pathology systems. However, the U.S. FDA stated that, poor quality image can result in inaccurate diagnosis consequently leading to serious health concerns which might restrict the uptake of digital pathology systems to some extent during the study period.
On the basis of geography, the digital pathology systems market is segmented as North America, Europe, Asia-Pacific and Rest of the World (RoW). North America represented the largest regional market for digital pathology systems in 2019 primarily due to rapid acceptance of digital pathology systems by anatomic pathologies in this region. Similarly, rising prevalence of cancer, growing workload on pathologists and increasing use of companion diagnostics is another reason due to which North America held the largest share in the global digital pathology systems market. Large geriatric population base is one of the important factors driving the growth of digital pathology systems market in this region.
The market for digital pathology systems in Asia-Pacific is anticipated to witness fastest growth rate during the forecast period compared to North America and Europe. Increasing elderly population in few Asian (Japan, China, Singapore) countries has accelerated the demand for accurate and reliable diagnosis that would propel the demand for digital pathology systems in this region. Likewise, growing drug development activities and increasing awareness among people about cancer diagnosis with digital pathology systems also support the market growth in Asia-Pacific. Additionally, companies are expecting large revenue with sufficient market penetration from Asia-Pacific region and thereby focused on increasing investments in this region.
Leica Biosystem (SCN400 F scanner), Olympus Corporation (Visiopharm), GE Healthcare (Omnyx IDP Solution), Mikroscan Technologies, Inc. (Mikroscan MC2 slide scanner) and Ventana Medical Systems, Inc (PathXchange) are some of the key players having presence in the global digital pathology systems market. Manufacturers are establishing their manufacturing units and expanding their geographic presence in emerging economies such as India, China, Japan and Singapore as these economies represent immense potential for digital pathology systems owing to rising potential cancer patient population.
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The global digital pathology systems market is segmented as follows:
Digital Pathology Systems Market, by Technology
- Virtual Microscopy
Digital Pathology Systems Market, by Application
- Drug Discovery and Development
- Disease Diagnosis
- Academic Research
Digital Pathology Systems Market, by Geography
- North America
- Rest of the World
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