(Health-NewsWire.Net, July 29, 2016 ) The global digital pathology market is expected to reach USD 679.1 Million by 2021 from USD 384.3 Million in 2016, growing at a CAGR of 12.1% from 2016 to 2021.
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The global digital pathology market is segmented on the basis of product, type, end-users and application. By product, the market is segmented into scanners, software, communication system and storage systems. The scanners segment is estimated to account for the largest share of the global market in 2016. Software segment is projected to grow at the highest CAGR during the forecast period. This growth is attributed to the availability of user-friendly, analytical and advanced software’s for pathology diagnosis.
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On basis of type, the market is segmented into human and animal pathology. The human pathology segment is expected to account for the largest share of the market in 2016. This is attributed to the increasing utilization of digital pathology for chronic disease diagnosis and rising technological developments in human pathology diagnostics across the globe.
On the basis of end users, the digital pathology market is segmented into pharmaceutical and biotechnology companies and contract research organizations (CROs); hospitals and reference laboratories; and academic and government agencies. The pharmaceutical and biotechnology companies and CROs segment is expected to account for the largest share of the market in 2016, and is projected to grow at the highest CAGR during the forecast period. Growing need to curtail escalating costs in drug discovery research and increase in the operational efficiencies of pharmaceutical companies using digital pathology attributed to the growth of this market.
The digital pathology market, based on application, is segmented into disease diagnosis; teleconsultation; drug discovery; and education & training. The teleconsultation segment is expected to account for the largest share of the market in 2016. This is mainly attributed to shortage of pathologists and increasing need for quality and fast pathology diagnosis using remote consultation in developing countries. This segment is expected to grow at the highest CAGR during the forecast period.
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On the basis of regions, the digital pathology market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to account for the largest share of the market in 2016. The large share of the North American region can be attributed to the rising chronic disease prevalence and increasing initiatives by industry players and government in field of diagnostics. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.
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