19 December 2019
Visiongain’s new report the Digital Pathology Market Report 2019-2029: Forecasts by Product (Scanner, Software, Communication System), Type (Human, Veterinary), Application (Teleconsultation, Disease Diagnosis, Drug Discovery), End User (Pharmaceutical & Biotechnology Companies), plus analysis of leading companies indicates that the global Digital Pathology market will attain $1,796.4 million revenue by 2029.
Global Digital Pathology market is expected to grow on account of increasing usage in drug development and companion diagnostics. The market is expected to grow at a healthy CAGR of 11.02% over the projected period. In addition, an increase in cancer incidence, an increase in the workload of pathologists, and an ever-increasing number of clinical and pre-clinical studies are other significant considerations attributable to the development of the digital pathology industry, and comparable trends are anticipated to reinforce the market concentration of Digital Pathology over the projected period.
Furthermore, the growing geriatric population prone to chronic circumstances is also anticipated to increase demand for sophisticated diagnostic methods. Chronic illnesses can be ascribed to elevated mortality rates, according to a research released in Medscape. It becomes essential to opt for sophisticated diagnostic and imaging options due to the elevated incidence of cardiovascular diseases.
In 2019, North America Digital Pathology market accounted for more than 30% of overall market share. Continuous deployment of R&D investments, supporting public projects related to the development of sophisticated systems, increasing digital imaging acceptance, and the existence of significant players are important contributing factors expected to boost market penetration of Digital Pathology over the forecast period.
The Asia Pacific is anticipated to grow with the fastest growth rate owing to growing penetration of digital imaging in developing economies like India, Japan and China, investments in the medical & healthcare technology field, and the presence of untapped opportunities will offer lucrative growth for digital pathology market in coming years.
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