The global digital pathology systems market features a highly consolidated vendor landscape and is dominated by few established players. The companies Leica Biosystems and Ventana collectively accounted for a more than 73% share in the global market in 2013, states Transparency Market Research in a recent report. These top companies have strengthened their hold on the market by acquiring local players or collaborating with them through long-term contracts and agreements. In Asia Pacific, the vast rise in drug development activities in many countries present several growth opportunities for the digital pathology systems market, compelling many vendors to extend their operations and service centers to countries for promising returns.
Transparency Market Research estimates that the global digital pathology systems market will exhibit a remarkable double-digit growth rate over the report’s forecast period and rise to a valuation of US$492.8 mn by 2020.
North America to Remain Key Regional Market for Digital Pathology Systems
Of the key applications of digital pathology systems, the segment of disease diagnosis dominates, accounting for over half the global market. Use of digital pathology systems across this application area will continue to rake in the dominant share in the global market’s revenue throughout the forecast period. However, the rising use of digital pathology systems among research communities for purposes such as tumor morphological studies and biomarker profiling will make academic research the most promising area in terms of growth rate over the forecast period.
In terms of geography, North America accounts for the dominant chunk in global market’s revenues and is expected to remain one of the high-potential markets over the forecast period as well. Factors such as rising use of companion diagnostics, rising workload of pathologists, the vast number of ongoing research activities, and favorable reimbursement policies have established North America as the leading region in the global digital pathology systems market.
Cancer Diagnosis to Become Key Area of Application in Future Years
In the past few years, cancer has emerged as one of the crucial public health concerns as many cancer types still do not have effective treatments. The WHO stated in one of its publications in 2014 that nearly 8.2 mn people died of cancer in 2012. In the U.S. alone, around 276,000 women and 300,000 men died due to cancer in the said year. Although cancer treatments have a vast scope of improvement, recent progress in the field of cancer diagnosis has contributed to a significant rise in survival rate of cancer patients.
Due to this, the volume of cancer diagnostic tests has continued to rise across the globe and is expected to increase the prominence of digital pathology systems across diagnostics labs for quicker diagnostics and effective and more accurate results compared to manual tests. This factor is expected to emerge as one of the key drivers of the global pathology systems market over the report’s forecast period.
Strict Regulatory Factors to Restrain Market Growth
The use of digital pathology systems for the diagnosis of diseases is gradually gaining increased attention owing to their accuracy and efficiency in determining test results in short turnaround time. However, as the various components of a typical digital pathology system are directly involved in the detailed diagnosis and analysis of cells, tissues, and body fluids, these devices require proper regulatory approval before commercialization. The strict regulatory approval practices across several regional markets is holding back the entry of many products and is thus restraining the overall market.
The report is titled “Digital Pathology Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 - 2020.”
For the study, the market has been segmented into:
- Virtual Microscopy
- Static Telepathology
- Dynamic Telepathology
- Drug Discovery and Development
- Disease Diagnosis
- Academic Research
- North America
- Asia Pacific
- Rest of the World (RoW)
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