Digital Pathology Market: Shortage of Skilled Pathologists to Reflect Impressive Market Demand
DataM Intelligence announces its market report titled "Global Digital Pathology Market – Size, Share and Forecasts" which reflects the size, share, forecast analysis of key players.
Global Digital Pathology Market projected to grow at a CAGR of 11.08% during the forecast period.
Global Digital Pathology Market drivers
According to the World Health Organization, the global cancer burden is estimated to have risen to 18.1 million new cases and 9.6 million deaths in 2018. WHO estimated that Infectious diseases kill over 17 million people a year, around the world.
Global Digital Pathology Market Segmentation Analysis
By Product, the Global Digital Pathology Market is segmented into Software, Scanners, Storage Systems, and Communication Systems. The software market share is expected to witness the highest growth rate due to the availability of analytical, user-friendly, and advanced functions for pathology diagnosis.
By Application, the Global Digital Pathology Market is segmented into Drug Discovery, Teleconsultation, Diagnosis, and Training & Education. The diagnosis sector accounts for a significant market share, in terms of revenue owing to the rising prevalence of diseases such as cancer. Additionally, the increasing attention of manufacturers on developing rapid and accurate diagnostic techniques is likely to encourage the growth of the segment.
Global Digital Pathology Market Regional Analysis
North America is the leading revenue contributor to the global market and is followed by Europe. It can be attributed to the rising in acceptance of the digital pathology system in the region and increasing incidents of cancer and chronic diseases. According to the estimates of the American Cancer Society, in 2018, there were 1,735,350 new cancer cases diagnosed, and in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the United States.
Global Digital Pathology Market Company Trends
Key players are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. New product launches and R&D are other ways the leading players improve their market presence.
In April 2019, International medical imaging IT and cybersecurity company Sectra signed a digital pathology contract with the Region of Southern Denmark. The IT solution for handling digital pathology images will enable pathologists at the region's four hospitals to review and collaborate around cases in a way that is not possible with microscopes.
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