Albany, NY, April 20, 2015 (GLOBE NEWSWIRE) -- The global digital pathology systems market was valued at US$228.9 million in 2013 and is expected to grow to US$492.8 million in 2020. Thus, the digital pathology systems market is expected to be growing at a CAGR of 11.9% in the period from 2014 to 2020. Countries from Asia Pacific, such as India, China, Japan, Malaysia, and Australia, have an immense potential for the growth of the digital pathology systems market owing to a large pool of cancer patients and increasing healthcare expenditure.
Browse Full Global Digital Pathology Systems Market Report With Complete TOC @ http://www.transparencymarketresearch.com/digital-pathology-systems.html
Digital pathology can be defined as a dynamic and image-based environment that enables management, interpretation and acquisition of pathology information from a digital slide to a computer screen. Digital pathology is poised to streamline the workflow and activities of diagnostic laboratories and pathologists in near future. It is considered as an emerging technology that offers substantial improvement in various applications such as drug discovery and development, diagnostic test and academic and academic research.
Accurate pathological assessment, cost effective, appropriate and timely treatment and delivery of high-quality healthcare are some of the prime factors that would accentuate the global market demand for digital pathology systems. Moreover, rising prevalence of cancer, increasing workload of pathologists and advancements in laboratory diagnostic tests drives the growth of digital pathology systems market globally. However, sampling error and high initial setup cost is expected to hamper the demand of digital pathology systems market. In addition, stringent regulatory requirements for approval of digital pathology systems would affect commercialization of these devices/products and thereby reduce the market growth to some extent. On the other hand, countries in Asia-Pacific (India, Japan, China, Malaysia and Australia) hold immense potential for digital pathology systems market due to large patient pool suffering from various cancer coupled with increasing healthcare expenditure.
Browse Press Release of Digital Pathology Systems Market: http://www.transparencymarketresearch.com/pressrelease/digital-pathology-systems.htm
The global market for digital pathology systems is segmented based on technology as virtual microscopy and telepathology. Digitizations of microscopic slides, cost effectiveness, easy to communicate and share digital information are some of the prime factors that support the growth of virtual microscopy for disease diagnosis and detection purpose. Thus, the global virtual microscopy segment market is expected to grow at the highest CAGR during the forecast period from 2014 to 2020. Telepathology segment is further categorized as static and dynamic telepathology. Dynamic telepathology is considered as the most promising technique in telepathology and is expected to grow at the highest CAGR during the forecast period owing to robust and reliable delivery of microscopic slide images. However, stringent regulatory compliance pertaining to digital pathology systems approval procedure and their utilization in clinical settings might hamper the growth of digital pathology systems market to some extent.
Get Sample Report Copy OR For further inquiries, click here: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1540
In addition, based on application the global digital pathology systems market is segmented as drug discovery and development, disease diagnosis and academic research. In 2013, disease diagnosis application segment accounted for the largest market share of the global digital pathology systems market. This growth was mainly due to accurate and efficient diagnostic test result, rapidly analyzing slides in short span of time with few diagnostic errors and less cost compared to normal pathology. For instance, National Health Service (NHS) stated that, pathology is involved in around 70% of the diagnosed cases performed every year and among these, most of them are screened through digital pathology systems. However, the U.S. FDA stated that, poor quality image can result in inaccurate diagnosis consequently leading to serious health concerns which might restrict the uptake of digital pathology systems to some extent during the study period.
On the basis of geography, the digital pathology systems market is segmented as North America, Europe, Asia-Pacific and Rest of the World (RoW). North America represented the largest regional market for digital pathology systems in 2013 primarily due to rapid acceptance of digital pathology systems by anatomic pathologies in this region. Similarly, rising prevalence of cancer, growing workload on pathologists and increasing use of companion diagnostics is another reason due to which North America held the largest share in the global digital pathology systems market. For instance, American Cancer Society published that, around 300,000 men and 276,000 women died due to cancer in 2012 in the U.S. Europe accounted for the second largest share in the global digital pathology systems market in 2013. Large geriatric population base is one of the important factors driving the growth of digital pathology systems market in this region.
Other Reports By Transparency Market Research :
- Meningococcal Vaccines Market: http://www.transparencymarketresearch.com/meningococcal-vaccines-market.html
- U.S. Vaccine Market: http://www.transparencymarketresearch.com/us-vaccine-market.html
The market for digital pathology systems in Asia-Pacific is anticipated to witness fastest growth rate during the forecast period compared to North America and Europe. Increasing elderly population in few Asian (Japan, China, Singapore) countries has accelerated the demand for accurate and reliable diagnosis that would propel the demand for digital pathology systems in this region. Likewise, growing drug development activities and increasing awareness among people about cancer diagnosis with digital pathology systems also support the market growth in Asia-Pacific. Additionally, companies are expecting large revenue with sufficient market penetration from Asia-Pacific region and thereby focused on increasing investments in this region. For instance, in June 2012, Philips Healthcare announced commencement of its greenfield manufacturing facility for imaging systems in Chakan, Maharashtra, India. This strategy would help the company to enhance its business presence in Asia. However, high initial set up and maintenance cost and limited budget allocation especially in rural areas are the major factors which would restrict the growth of digital pathology systems market in this region.
Leica Biosystem (SCN400 F scanner), Olympus Corporation (Visiopharm), GE Healthcare (Omnyx IDP Solution), Mikroscan Technologies, Inc. (Mikroscan MC2 slide scanner) and Ventana Medical Systems, Inc (PathXchange) are some of the key players having presence in the global digital pathology systems market. Manufacturers are establishing their manufacturing units and expanding their geographic presence in emerging economies such as India, China, Japan and Singapore as these economies represent immense potential for digital pathology systems owing to rising potential cancer patient population.
The global digital pathology systems market is segmented as follows:
Digital Pathology Systems Market, by Technology
- Virtual Microscopy
Digital Pathology Systems Market, by Application
- Drug Discovery and Development
- Disease Diagnosis
- Academic Research
Digital Pathology Systems Market, by Geography
- North America
- Rest of the World
North America held the largest share of the digital pathology systems market in 2013 due to ready acceptance of digital pathology systems in the region. Another reason for North America's large share is the rising occurrence of cancer, burgeoning workload on laboratory technicians, and use of companion diagnostics. Europe held the second largest share of the digital pathology systems market in 2013; the large and growing geriatric population in Europe is primarily responsible for this.
Browse Article of Digital Pathology Systems Market: http://www.transparencymarketresearch.com/article/digital-pathology-systems.htm
The digital pathology systems market is projected to rise the fastest in Asia Pacific during the forecast period from 2014 to 2020. The increasing aging population in several countries in Asia Pacific has boosted the demand for reliable and accurate diagnostics. Another reason for the growth of the digital pathology systems market in Asia Pacific is increased cancer diagnosis awareness among people and rising drug development activities.
Browse All Medical Market Research Reports: http://www.transparencymarketresearch.com/medical-devices-market-reports-6.html
About Us :
Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
CONTACT: Mr. Nachiket Ghumare State Tower, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453 Email: email@example.com Website: http://www.transparencymarketresearch.com/
Source:Transparency Market Research