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Virtual Microscopy Market: Introduction 

Virtual microscopy may be defined as the process of placing microscopic images on computer networks that can be viewed by a large number of people across different locations. Virtual microscopy is based on the computer-based technology that combines microscopy technologies and digital technologies, both. Virtual microscopy allows the viewing of virtual slide with speed and ease. Virtual microscopy is widely being used across clinical and diagnostic laboratories, drug discovery and development, and academic research institutions. The global market for virtual microscopy has been segmented into drug discovery and development, diagnostics and academic research institutions, on the basis of application.

Virtual Microscopy Market: Growth Enablers

Significant advantages associated with virtual microscopy are playing a key role in driving the increasing demand for virtual microscopes. In June 2008, the University of Pittsburgh Medical Center and GE Healthcare, a business unit of conglomerate General Electric Co., entered into a partnership to develop a technically advanced virtual microscope replacing glass slides with digitalized images. These two partners collectively invested a total of USD 40 million (USD 20 million each) toward the launch of Omnyx LLC that will be designing virtual microscope. Factors such as digitization of microscopic slides, cost reduction, speed and accuracy, easy to communicate and share digital information are among others that are expected to support the growth of virtual microscopy for disease diagnosis and detection purposes during the forecast period from 2014 to 2020.

Globally, the increasing prevalence of cancer and continuously improving technology have also been identified as major factors driving the market for virtual microscopy worldwide. According to the American Cancer Society, during 2012, approximately 300,000 men and 276,000 women died in the U.S. owing to various cancer types.

Virtual Microscopy Market: Region-wise Insight

In terms of geography, the market for virtual microscopy has been segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). In 2013, North America accounted for the largest regional market for virtual microscopy, followed by Europe and Asia-Pacific. High-level adoption of virtual microscopy across anatomic pathologies in the U.S. and a significant proportion of GDP being spent on healthcare are some major factors responsible for North America leading the market for virtual microscopy. In 2012, the U.S. and Canada spent approximately 17.9% and 10.9%, respectively, of their total GDP on healthcare. In Europe, growing geriatric population is likely to play a key role in the growing demand for virtual microscopes across the region.

In Asia-Pacific, Japan, India, China, Malaysia and Australia are the most potential markets. Growing economy of India and China, high unmet medical needs in the region and the presence a large pool of patients are some major factors that are expected to contribute in the growth of virtual microscopy market in Asia-Pacific region. Growing penetration by multinational companies in the region will also boost the market growth over the forecast period. On the other hand, high initial set up and maintenance cost and low funding from governments may affect the market growth in the region to some extent. Asia-Pacific has been anticipated to witness fastest growth rate during the forecast period from 2014 to 2020 as compared to North America and Europe.

Virtual Microscopy Market: Key Players

Aperio Technologies, Olympus Corporation, GE Healthcare, Ventana Medical Systems and Mikroscan Technologies, Inc. are among the major companies operating in the market for virtual microscopy. These companies are engaged in the development, designing, manufacturing and marketing of virtual microscopes. These companies compete with each other in order to get competitive edge over others.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Virtual Microscopy Market

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