Frost & Sullivan Finds Predictive and Preventive Healthcare Propels Exponential Growth of Digital Pathology Market in China
The advent of digital pathology is expected to revolutionize the healthcare industry in China and help overcome challenges in medical education, clinical practices and research. Favorable government healthcare reforms, such as initiatives on nationwide telepathology consultation and quality control programs, as well as the growing need for integration of healthcare delivery will usher in a wave of digital pathology adoption in the country.
New analysis from Frost & Sullivan, Analysis of the Digital Pathology Market in China, finds that the market earned revenues of $259.0 million in 2013 and estimates this to rocket up to $1,914.8 million in 2019.
A burgeoning elderly population cohort the number of people over 60 years is projected to increase 8 million annually and reach 243 million by 2020 has heightened the need for accurate and reliable pathological diagnosis. The issue is further aggravated by a rising incidence of cancer across the country.
“With the escalating growth of digital data, leveraging advancements in information technology and big data analytics will shift future healthcare deliveries towards personalized, evidence-based treatments,” said Frost & Sullivan Healthcare Research Analyst Raymond Chong. “Healthcare will revolve around collaboration among medical institutions with emphasis on predictive and preventive medicine, widening the potential of the Chinese digital pathology market.”
Unfortunately, high investment and maintenance costs, low sample volume, and limited returns are hurdles to the use of digital pathology, particularly in rural regions. With barely 20 percent of medical resources allocated to rural areas, healthcare institutions remain reluctant to purchase these solutions.
Digital pathology system vendors in China should identify and understand targeted end-user segments and deliver cost-effective, customized solutions to sustain business viability. Implementing unique pricing strategies in which products and services are priced in line with customer budgets and expectations will enable manufacturers to retain market share.
“Digital pathology system vendors should seek partnerships with various participants along the value chain, including software vendors and device manufacturers,” advised Chong. “Aligning investment plans with government and stakeholders’ agenda to build long-term partnerships will further bolster their position in the fast-expanding Chinese market.”
If you are interested in more information on this study, please send an email to Julie Zheng, Corporate Communications, at julie.zheng[.]frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.
Analysis of the Digital Pathology Market in China is part of the Connected Health (connectedhealth.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: China Healthcare Information Technology Solutions Market, Global Enterprise Content Management (ECM) Market for Healthcare, US Market for General Wellness and Early Intervention Technologies, and Western and Eastern European Image and Information Management Systems Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Source: NewsWireToday
