Digital Pathology is a technique of analyzing image-based information incorporating the acquisition, management, sharing and interpretation of pathology information which includes slides and data in a digital environment enabled mainly by the computer technology. Digital slides can thus be shared using networks with the assistance of digital pathology software applications ensuring optimal patient treatment.
The global digital pathology market was USD 2446.75 million in 2018 and is estimated to reach USD 6036.84 million by 2025 at a CAGR of 13.77% during the forecast period
Growth by Region
North America holds one-third of the total market share due to the well-established healthcare infrastructure accompanied with a rise in adoption of digital pathology solutions to obtain fast and accurate results across the healthcare sector. While Asia Pacific region, on the other hand, is anticipated to witness the highest growth rate owing to the prominence of telemedicine in reduced cost and improvement in technology.
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Drivers vs Constraints
The market is mainly driven by rapid technological advancements in digital pathology systems which in fact play a pivotal role in the development of the market. Advancements in the technology such as advanced visualization, robotic light microscopy and multiple fiber optic communications are anticipated to provide an upthrust to the market. However, expensive nature and lack of reimbursement of digital pathology solutions in the developing countries would hamper the growth of the market.
Industry Trends and Updates
Royal Philips, a Dutch conglomerate had acquired Irish PathXL, which is one of the largest image-based analysis firms in order to develop integrated tools which target applications such as computational biology, workflow solutions, education and image analytics.
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GE Healthcare, an American multinational conglomerate in an attempt to go digital had invested USD 500 million and also hired 5000 software engineers, data analysts, imaging analysts in order to develop their own platform and its capability to host hundreds of other applications.