Future Market Insights has announced the addition of the "Digital Pathology Market: Global Industry Analysis and Opportunity Assessment 2014 - 2020" report to their offering.
London, UK -- (SBWIRE) -- 04/17/2015 -- Digital pathology is the process of managing, analysing, interpreting and storing digital information. It is also known as virtual pathology or virtual microscopy. It is useful for automated biomedical laboratory testing and diagnosis. Digital solutions are used to convert glass slides into digital slides with a scanning device. A digital slide scan enables interpretation and analysis of digital pathology images. The necessity of digital pathology has arrived out of concern to save time, capital and lives. Digital pathology finds applications in areas such as oral pathology, forensic pathology, cancer care and veterinary pathology.
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The benefits of digital pathology include accuracy and efficiency in data analysis and interpretation, enhanced quality of colour image and reasonable cost associated with delivery of enriched performance. It replaces traditional, manual and microscopic slide analysis based procedures. Its advantage lies in its capacity to store, share, and replicate testing of a specimen for clinical and educational usage. Comparatively high initial investment to use and maintain digital pathology systems is the major bottleneck for digital technology adoption.
Wide range of benefits of digital pathology technique have led to a high demand for digital pathology solutions in the market. Increasing need for pathology automation, strategic mergers & acquisitions by key players, rise in disposable income of customers, increasing health awareness and government concerns towards medical technological advancement are some of the favourable factors driving the growth of digital pathology market. In addition, increasing applications of digital pathology solutions in sectors such as contract research organizations and education are expected to fuel the growth of this technology & solutions market in the near future. Therefore, the global digital pathology market is expected to grow two-fold in the next six years.
The digital pathology market has been segmented based on product type, application, component and geography. Based on product type, the market has been categorized into analytics software & systems, scanners, storage systems, web-based and cloud-based delivery models. By component, the market can be categorized into whole-slide imaging (WSI), image analysis- informatics, storage & communication and integrated platforms. Based on applications, the digital pathology market has been divided into human pathology and animal pathology, which are further classified into various sub-segments. Geographically, the global digital pathology market has been segmented into North America, Latin America, Asia Pacific, Japan, Western Europe, Eastern Europe, and Middle East & Africa.
Auto fluorescence Reduction Technology (ART), hosted technology adoption, completely integrated pathology data management & telepathology solution and whole-slide imaging (WSI) are some of the recent trends observed in the digital pathology market. Digital pathology is providing health assistance to remote areas, and at the same time development of some innovative systems and services like digital pathology management systems (DPMS), digital slide conferencing and consulting are on their way to prosper in the near future.
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Major players in the digital pathology market include Apollo PACS, Inc., 3DHISTECH Ltd., Aurora Interactive Ltd., Digipath, Inc., Huron Technologies International, Inc., Indica Labs, Inc., Leica Biosystems Nussloch GmbH, Objective Pathology Services, Ltd., Nikon Instruments, Inc. and Ventana Medical Systems, Inc. Most of these companies are concentrated in the U.S. North America has the highest revenue generation market followed by Europe and Asia. The expected growth rate for the coming five years of the Asian market is high due to its growing healthcare concerns. With more efforts towards standardization of products, portability & compatibility with other digital devices and integration with other healthcare services, the market will attain a higher growth. The companies need to seek a perfect mix of digital pathological products with application services to achieve sustainable market growth and improve their own market share. Advent of digital pathology market will aid and provide technological development to biomedical education and healthcare.
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