Global digital pathology market expected to grow at a CAGR of 11.8%

If you ask anyone who has been involved with digital pathology for the past 5 years or more that has studied the market from their respective perches, “Is the digital pathology market worth $200 million or $2 billion?” their answer would probably be yes.

The answer is yes because report after report I think looks at the market and opportunities from many different angles, including, but not limited to, hardware, software, image analytics, delivery systems, whole slide image storage/backup/retrieval, cloud storage & more.  

The market research and reports produced look at companies in the space, size of market, laboratory workflows, potential hospital, laboratory and patient base served and begin to ask the relevant questions about the technical market, professional market and pieces involved in-between in the digital pathology space on a global scale.

I believe the last report I saw before this one had the market size growing to around $380 million in 5 years.  This report from ReportsnReports.com estimates the global digital pathology market was valued at an estimated $250.2 million in 2013 and is expected to grow at a CAGR of 11.8%, to reach an estimated $437 million by 2018:

Source: PRNewswire

The European region has gained momentum for digital pathology. Some of the European countries have witnessed successful pathology projects which are likely to lead to higher adoption of digital pathology in these countries. Furthermore, Europe hosts various digital pathology conferences that aim to bring professionals under one roof and bring to light the ongoing developments in digital pathology. However, the Asian market, slated at an estimated CAGR of 13.7%, will experience the highest growth in the digital pathology market. The rise in awareness of digital pathology and its benefits, collaborative efforts by players, and federal health departments encouraging the use of digital pathology to improve the quality of cancer diagnosis are some of the factors driving the growth of the Asian market.

In 2013, the North American market was valued at $128.9 million and accounted for the largest share of the global digital pathology market, followed by Europe and Asia. The North American market is expected to grow at a healthy growth rate over the next five years. This high growth can be attributed to the favorable reimbursement scenario in the U.S. and the use of digital pathology to improve the quality of cancer diagnosis in Canada. However, lack of FDA approvals for digital pathology to be used for primary diagnosis acts as a major barrier for the North American market. Complete report is available at http://www.reportsnreports.com/reports/195916-digital-pathology-market-slide-scanners-whole-slide-imaging-analytics-image-analysis-software-delivery-modes-web-based-cloud-based-and-whole-slide-image-storage-global-trends-forecast-till-2017.html .

Digital Pathology is an image-based information environment enabled by computer technology that allows for the management of information generated from a digital slide. Digital pathology is enabled in part by virtual microscopy, which is the practice of converting glass slides into digital slides that can be viewed, managed, and analyzed on a computer monitor. With the advent of Whole-Slide Imaging, the field of digital pathology has exploded and is currently regarded as one of the most promising avenues of diagnostic medicine in order to achieve even better, faster and cheaper diagnosis, prognosis and prediction of cancer and other important diseases.

The major players in this market include 3dhistech Ltd, Apollo Pacs, Inc, Aurora Interactive Ltd, Corista LLC, Definiens AG, Digipath, Inc, Hamamatsu Photonics K.K, Huron Technologies International, Inc, Indica Labs, Inc, Kanteron Systems, Leica Biosystems, Gmbh, Ligolab, LLC, Mikroscan Technologies, Inc, Nikon Instruments, Inc, Objective Pathology Services Ltd, Omnyx LLC, Xifin Inc, PathXL Ltd, Pixcelldata Ltd, Sunquest Information Systems, Inc, Ventana Medical Systems Inc and Visiopharm. Order a copy of this report athttp://www.reportsnreports.com/purchase.aspx?name=195916 .

The demand for digital pathology is growing and is expected to continue to rise in the coming years as well. The use of scanners and image analysis software enable pathologists to be efficient and this leads to improved quality care for patients.

This report covers the definition, description, and forecast of the digital pathology market in terms of products and applications. Based on products, the digital pathology market comprises of scanners, analytics, storage, and communication.. Priced at US$4650 for a single user PDF, a discount on this research report can be requested at http://www.reportsnreports.com/contacts/discount.aspx?name=195916 .