New York, July 09, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Digital Pathology Global Market Report 2021: COVID-19 Growth And Change” – https://www.reportlinker.com/p06103734/?utm_source=GNW
K., Corista, Ventana Medical Systems, Inc., Huron Digital Pathology Inc., Indica Labs, Inc., and Olympus Corporation of the Americas, Objective Pathology Services, and XIFIN.
The global digital pathology market is expected to grow from $0.67 billion in 2020 to $0.72 billion in 2021 at a compound annual growth rate (CAGR) of 8.00%. The growth is mainly due to the growing demand for digital pathology due to COVID-19 impact, which had led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.16 billion in 2025 at a CAGR of 11.34%.
The digital pathology market consists of the sales of digital pathology equipment, platform solutions and related services by entities (organizations, sole traders, and partnerships) that develop clinical diagnostics, and workflow software and solutions.Digital pathology equipment converts glass slides into high-resolution digital images by utilizing slide scanner hardware, software, and services.
These images can be viewed, managed, and analyzed on a computer or mobile screen. Digital pathology is expected to improve quality in the analysis, reduce errors, and provide a clearer and more convenient view, when compared to traditional pathology.
The main types of products in digital pathology include scanners, software, communication systems, and storage systems.Scanner uses of microscopic array technology to produce a three-dimensional digital representation of a pathology slide for viewing and automated image analysis.
Software transfers the data into a digital medium for image review and analysis and tissue image analysis.Communication systems are used to communicate between separate whole slide acquisition, storage, and viewing components and also to remote colleagues using real-time telepathology.
Storage systems consist of the digital archives of samples which allows for long-term analysis and other predictive analytics.The different types of pathology are human pathology and veterinary pathology.
It is used by pharmaceutical & biotechnology companies, hospitals and reference laboratories, academic & research institutes for drug discovery, disease diagnosis, teleconsultation, and training & education.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The lack of trained pathologists acted as a restrain for the digital pathology market in the historic period.Pathologists are critical in performing laboratory tests essential for disease diagnosis as pathologists need to examine samples and interpret medical laboratory tests for patients to receive proper treatment.
There is a dearth of pathologists in the Asia Pacific region and countries in Africa.For instance, in 2016, Zimbabwe had only 9 pathologists, five histopathologists, four hematologists, and no chemical or forensic pathologists to cater to a population of 13 million.
Mozambique had only 4 pathologists for a population of 25 million and Botswana has only 3 pathologists to serve its 2.1 million people.
In January 2018, Inspirata, Inc., an USA-based cancer informatics and digital pathology workflow solution provider announced the acquisition of Omnyx, LLC, from GE Healthcare for an undisclosed amount. The acquisition is expected to enhance primary digital diagnosis of Inspirata, Inc. in Europe and Canada, and to expand its customer base and geographic footprint across those countries. Omnyx, LLC, is a USA-based digital pathology venture of GE Healthcare focused on bringing software to pathology departments around the world.
The increased prevalence of cancer contributed to the growth of the digital pathology market.Digital pathology allows patients to accelerate the diagnosis and treatment of cancer, and thus in increase in cancer cases is driving the growth of the market.
According to the American cancer society, in 2019, there were approximately 140,690 cancer cases diagnosed and 103,250 cancer deaths among the 85 and older population in the United States.There is a rise in the number of cancer cases due to the growing elderly population globally coupled with unhealthy lifestyles.
Increasing incidences of cancer increases the demand for digital pathology as it makes it easier to access the image faster, view all relevant information, and help diagnose faster.
The launch of endoscopy systems with artificial intelligence (AI) is gaining popularity in the digital pathology market.Artificial intelligence-based systems have been advanced to anatomize endoscopic images.
They identify neoplasms with high accuracy and low interobserver variation.For instance, in April 2020, Olympus Corporation declared the launch of EVIS X1, an AI based endoscopy system.
The new system helps derive outcomes from disorders of the stomach, colon, and esophagus, as well as from bronchial diseases, and makes work easier for endoscopist.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06103734/?utm_source=GNW
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