Pathologists keep on playing a crucial role in the diagnosis and detection of an extensive range of ailments and therefore channelize treatment options. The procedure is no different for the latest novel coronavirus infection. On the other hand, the requirement for flattening the curve, self-quarantining, and social distancing is forcing to go away from mainstream pathology operations to remote technologies. Consequently, demand for digital pathology from contract research organizations (CROs), clinics, and hospitals are advancing an upward swing, since it is pivotal in enabling pathologists to hold their operations throughout the COVID-19 pandemic. As per a recent study by Future Market Insights, the market for digital pathology valuation is likely to surpass its US$ 6 Billion mark through 2021.
Key Takeaways of Market Research
The equipment category by component type is likely to attain the highest revenue share throughout the assessment period. Equipment sales would rise at a CAGR of more than 13% throughout the period of estimation.
Bright field slide scanner is majorly implemented whole slide scanner by pathologist and researcher. Whilst, fluorescent slide scanner is projected to attain greater traction throughout the next decade because of its higher quality image analysis attribute.
Application in molecular diagnostics and clinical pathology jointly hold more than half of the overall demand.
Hospitals stay foremost end-users, trailed by diagnostics laboratories. CRO’s would reflect higher opportunistic potential throughout the assessment period.
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Europe and North America jointly attain 65% of revenue share during the year 2019 whereas the South Asia region is likely to reflect greater expansion potential throughout the assessment period.
R&D exercises in personalized medicine and cancer treatment scenario offer attractive prospects to digital pathology market participants. Coronavirus pandemic is plying tailwinds to the digital pathology market expansion, with CROs, clinics, and hospitals recording noteworthy implementation of digital pathology solutions.
Remote operations in the area of pathology have long been unmanageable, on account of dependence on strict regulatory and physical glass slides requirements. On the other hand, the landscape is shifting amid the outbreak of COVID-19 – assigning pathology establishments to execute the time-consuming and complex validation prerequisite to study cases at home. Since the pandemic crisis spreads out all over multiple nations, regulatory needs for the consumption of digital pathology services and equipment are being broken down which is projected to clear a novel widow of prospects. Moreover, benefits of digital pathology in saving time on travels and getting at cases on-demand are projected to provide tailwinds to future market expansion.
A few of the market leaders just about capture about 60% market revenue share and incorporate F. Hoffmann-La Roche AG, Danaher Corporation, along with Huron Technologies International, Inc. Makers of digital pathology solutions are time and again making alterations in their software category platform, to augment the capacities of digital pathology image examination array of solutions to their clients. This will offer simple access to all of the information, for instance, images, as well as will additionally provide the specialized demand to the user concerning research and other determinations.
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