The digital pathology is a new technology that has digitalized the instruments used in the pathology labs for testing. The digitalization has led to the automation of the tests done during the diagnosis procedures. For example, a single digital instrument operated by a single pathologist can perform tests that were previously done using five instruments. The global digital pathology market, valued at $1.98 billion in 2012, is estimated to reach $5.7 billion by 2020. Automation in the conventional methods of pathology is the major driving force of this market, which has resulted in workflow efficiency, efficiency in analysis. Thus, resulting in fast and accurate results of the pathology tests. The other driving factors of this market are diagnosis that can be provided to patients in the remote regions and reduction in the cost of diagnosis. The cost includes procedure cost and the cost involved in delivery of the slides & data. The major limitation of the digital pathology market is the stringent regulations involved during the approval of digital pathology systems. The other limitation is the cost involved in the integration of DPS in the pathology labs. The challenges faced by the DP market are standardization and interoperability of the technology as the formats differ from region to region.
The digital pathology market is segmented into components, end users and geography. The products market consists of the Whole slide imaging (WSI), Image analysis- informatics and Storage, communication and integrated platforms. The WSI is the highest revenue generating market among the segments; however, image analysis-informatics market is expected to have the highest growth potential. The end users market is segmented into pharmaceutical research, clinical organizations and educational institutes. The pharmaceutical research is the highest revenue generating market and is also expected to have the highest growth potential. The geography market is dominated by the North American region, which is the highest revenue generating region; however, Asian market is expected to have the highest CAGR during the analysis period.
The key companies profiled in this report include Definiens AG, Digipath, Inc., Leica Microsystems Gmbh, Ventana medical systems, Inc., Nikon Corporation, Visiopharm, Philips healthcare, Indica Labs, Inc, Omnyx LLC and 3DHISTECH, Ltd.
KEY MARKET SEGMENTS
The digital pathology market is an emerging market that is used in the pathology field and is replacing the conventional pathology methods. The key reason for the adoption of the digital pathology system is its reduction in cost, fast and easy delivery of slides. Thus, helps in efficient analysis of the slide through DPS (digital pathology system). This also includes discussion with other pathologists during analysis.
The digital pathology market analyzed in this report includes the various products and the end users. The products market is segmented into Whole slide imaging (WSI), Image analysis- informatics and storage, communication and integrated platforms. This report excludes the in-depth analysis of the application market in digital pathology.
Digital pathology management system software makes archival and retrieval of data easy and in large volumes; thus, helping pathologists to analyze large volumes of data in project specific configurations. Data retrieval tools make it easy for the pathologists to access and search information on multiple criteria. The criteria are by specimen, digital image, case and subcategories such as scan date, type of stain used, etc. the system automatically applies complex algorithms to an entire slide to improve the image quality. This makes interpretation more objective, quantitative and accurate. Tedious analysis is simplified by automation achieved by the image analysis algorithms, such as estimating protein expression or cell counting. An algorithm simplifies the task that requires repetitiveness such as tissue classification, assay quantification and pattern recognition.
This market research report is an effort to provide the clear picture of the state of the market and sub markets over the next seven years. The report provides micro level analysis of the factors affecting the market, key market trends and industry drives and challenges for the better understanding of the market structure. The presentation of the market dynamics, competitive scenario and developments will enable marketers to aptly design their growth strategies and have competitive edge. Moreover, assessment of the top investment pockets and winning strategies will help in channelizing their investments in the right directions to garner better proceeds.