Digital pathology is a type of information environment, which is enabled by virtual microscopy. This image based environment allows management of all the information generated from digital scales. Rapid development in the life science industry is contributing to adoption and innovations in numerous technologies and digital pathology is one of them. This breakthrough technology is considered to be an ideal replacement for the conventional technologies. Growth in government regulations, customer demands and global adoption play vital role in overall progress of the global digital pathology market. Innovative applications are creating better business prospects in the industry.
Scope of Research
For better understanding of the trends and opportunities in the market, researchers have categorized the global digital pathology market into different segments. Basic segments in the industry include the types of products and their applications. Demand across different geographic regions is also taken into consideration while analyzing the overall conditions of this market. Products in the industry include scanners, storage, analytics and communication products. On the basis of geographic regions, the industry is segmented into Europe, North America, Asia Pacific, and rest of the world. Based on applications, the global market is categorized into two basic types, which include animal pathology and human pathology. Both these segments are further classified into the following:
- Human Pathology: Clinical research, pharmaceutical and biotechnology companies and education
- Animal Pathology: Academic and government research, pharmaceutical and biotechnology companies, contract research organizations
Market Trends and Forecasting
The technology of digital pathology is making rapid growth with rising demand from pathologists across the globe. Customers in the industry are looking for cost cutting solutions to the traditional pathological processes. They are also hoping to achieve significant workflow efficiency. Compliance with both these prerequisites is drawing customers towards digital pathology market. This rise in consumers and end user industrial verticals is clearly reflecting on the factors like market trends, revenue, challenges, and opportunities in the industry. Considering progress of the market in recent past, researchers expect the industry to grow at a healthy CAGR.
From 2013 to 2017, digital pathology market is expected to grow at a CAGR of 12% to become worth more than $336.61 million by the end of 2017. In 2012, the market was poised at $191.00 million, which was strongly driven by developing regions like North America. The region is also projected to maintain its current growth and dominate the global market for these technologies. Stringent FDA regulations, rising demand, and constant innovations are the strongest drivers for the industry within developed as well as developing countries.