Pune, India -- (SBWIRE) -- 01/15/2020 -- The latest report on "Digital Pathology Market (Type - Veterinary Pathology, and Human Pathology; Component - Software, Hardware, Communication Systems, and Storage System; Application - Drug Discovery, Disease Diagnosis, and Teleconsultation; End User - Education & Training, Research Institutes, Diagnostic Laboratories, and Pharmaceutical & Biotechnology Companies): Global Industry Analysis, Trends, Size, Share Forecasts to 2024." The global digital pathology market is projected to grow at a CAGR of 12% over the forecast period of 2018-2024.

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Digital Pathology Market: Industry Insights

Digital pathology, also referred to as virtual microscopy is a dynamic, image-based environment that enables the acquisition, management, and interpretation of pathology information generated from a digitized glass slide. The digital slides can be viewed, managed, shared and analyzed on a computer monitor. Digital pathology can be utilized in healthcare applications including primary diagnosis, diagnostic consultation, intraoperative diagnosis, medical student and resident training, manual and semi-quantitative review of immunohistochemistry (IHC), clinical research, diagnostic decision support, peer review, and tumor boards. It is an efficient technique as compared to the conventional one which delivers faster and accurate test results.

Reduction in Diagnosis Cost, Efficient Record-Keeping and Rising Demand for Digital Pathology are other Factors that Push the Growth of the Global Digital Pathology Market

The increasing occurrence of chronic diseases, a growing number of geriatric population and rising rapid pathological tests among the patients are the major factors contributing to the growth of the market. Additionally, reduction in diagnosis cost, efficient record-keeping and rising demand for digital pathology are other factors that push the growth of the global digital pathology market. Furthermore, the ease in transferring the test results and the efficiency of digital pathology solutions are projected to propel the market. However, the high implementation cost of digital pathology systems is expected to hamper the growth of the market.

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Human Pathology Segment Held the Majority of the Share in the Digital Pathology Industry

The global digital pathology market is segmented on the basis of digital pathology type, component, application, and end-user. On the basis of the type, the global digital pathology market is categorized into veterinary pathology and human pathology. On the basis of the component, the global digital pathology market is distinguished into software, hardware, communication systems, and storage system. Based on applications the market is divided into drug discovery, disease diagnosis, and teleconsultation. By the end-user, the global digital pathology market is categorized into education & training, research institutes, diagnostic laboratories, and pharmaceutical & biotechnology companies. Human pathology segment held the majority of the share in the digital pathology market. The majority of the use of digital pathology is done in the healthcare sector, specifically related to chronic diseases. Based on the application, the diagnosis segment is dominating owing to the prevalence of infectious and chronic diseases. Diagnostic laboratories segment, based on the end-users, is the leading segment as a result of the increasing workload of pathologists and larger patient base.

Digital Pathology Market: Regional Insights

Geographically, the global digital pathology market is divided into four regions: North America, Europe, Asia-Pacific and Rest of the World. North American region dominated the market attributed to the well-established healthcare infrastructure and the growing adoption of digital pathology solutions across healthcare settings for rapid and accurate results. The digital pathology market in the Asia Pacific is escalating at a rapid pace. The countries including China, India, and Japan have a great potential for the market growth owing to a high prevalence of cancer, rising population and improving healthcare infrastructure in the region.

Digital Pathology Industry: Competitive Analysis

The key players in the global digital pathology market Ventana Medical Systems, Apollo Enterprise Imaging, 3DHISTECH, Leica Biosystems, Huron Digital Pathology, Visiopharm, Indica Labs, Koninklijke Philips, Corista and GE Healthcare among the others.

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Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of the digital pathology.

=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2024.

=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.  

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.