Digital Pathology Market to amass US $931 Mn by 2024

October 03, 2019

According to the latest study titled ‘Global Digital Pathology Market Growth (Status and Outlook) 2019-2024’ available with Market Study Report LLC, the global digital pathology market is estimated to accumulate US $931.6 million by the year 2024.

Digital pathology, an image-based information environment, powered by computer technology, enables the management of information generated from a digital slide. It is widely used in the software, storage systems, scanners, and communication systems to improve operational efficiency, productivity, patients care, and treatment decisions.

The technology can be termed as virtual microscopy, as it converts glass slides into digital information which can be captured, shared, managed, interpreted, and analyzed to study disease pathogens. Increasing instances of physical disorders, advancements in medical field, and massive benefits of this technology will bolster the digital pathology market growth.

According to the study, the digital pathology market was valued at US $491.8 million in 2019 and is expected to register 13.6% CAGR over the predicted time period. The study analyzes global digital pathology market for industry shares and growth opportunities by different segments. Furthermore, it provides an exhaustive understanding of trends, challenges, marketing strategies, distribution channels, consumer spectrum, and drivers influencing the market growth.

Based on type, the market is segmented as image analysis-informatics, whole slide imaging, digital IVD devices, and others. While based on application spectrum, the digital pathology market is divided into educational institutes, hospital & diagnostic centers, and pharma & biotech companies.

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Considering the geographical landscape, digital pathology market is fragmented into four major regions as Europe, Americas, Middle East & Africa, and Asia Pacific. North America led the digital pathology market with 44% revenue share in 2018, whereas Europe held 27% share in the same year, claims the report.

Some of the vendors that operate in the global digital pathology market outlined in the report comprise of Hamamatsu Photonics, Danaher, Philips, Roche, PerkinElmer, Olympus, Sectra, 3DHISTECH, Definiens, Apollo Enterprise Imaging, Visiopharm, Nikon, Glencoe Software, OptraSCAN, Indica Labs, Digipath, Pathcore, and Objective Pathology.