Market Report, "Digital Pathology Market - Global Forecasts to 2021", published
Recently published research from Markets and Markets, "Digital Pathology Market - Global Forecasts to 2021", is now available at Fast Market Research
[USPRwire, Mon Jun 20 2016] Digital Pathology Market by Product (Scanners, Software), Type (Human, Animal Pathology), End User (Pharmaceutical Company, Hospital, Academic Institutions), Application (Teleconsultation, Drug Discovery) - Global Forecasts to 2021
The digital pathology market is poised to reach USD 679.1 million by 2021 from USD 384.3 million in 2016, growing at a CAGR of 12.1% during the forecast period of 2016 to 2021.
Digital pathology is an image-based information environment that allows for the management of information generated from a digital slide. The growth of the overall digital pathology market can be contributed to the rising prevalence of chronic diseases, utilization of digital pathology for drug discovery and companion diagnostics, and growing initiatives by government and industry player's to enhance pathological services.
The scanners segment is expected to account for the largest share of the digital pathology market, by product, in 2016. Digital pathology scanners create whole-slide images (WSI) from glass slides, converting the images into a digital form which helps to view, analyze, manage, share, and store them easily and efficiently, thus attributing to the largest share of the market. The human pathology segment is expected to account for the largest share of the digital pathology market, by type, in 2016. The large share of this segment is mainly due to increasing utilization of digital pathology for chronic disease diagnosis. The pharmaceutical & biotechnology companies and CROs is expected to account for the largest share of the global digital pathology market, end user, in 2016. Pharmaceutical and biotechnology companies are using digital pathology in drug discovery and companion diagnostics, thus contributing to the largest share of this market. The teleconsultation segment is estimated to account for the largest share of the digital pathology market, by application, in 2016. Increasing demand for pathology consultation in underserved areas through telepathology attributes to growth of this application.
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North America is expected to account for the largest share of the global digital pathology market in 2016, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). The large share of the North American region can be attributed to the presence of major pharmaceutical companies, increased cancer prevalence, presence of top market players, and growing government initiatives in Canada. The Asia-Pacific region is expected to witness the highest growth rate in the forecast period, mainly due to the growing chronic diseases prevalence, entry of top players and less stringent regulations in field of diagnostics.
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