The use of stronger and more powerful computers has benefitted most of the modern healthcare industry, including the field of pathology. Digital pathology, which refers to the use of computer technology for the purpose of information management, is an environment of data which is largely image-based in the form a digital slide. Most of what happens in the field of digital pathology today is a direct result of the advancements in computer technology coupled with the developments in virtual microscopy. The concept of creating digital slides, which are actual slides converted to a virtual form, has helped the healthcare industry take great strides in terms of data transmission, communication, learning, and advanced diagnostics.
According to a research report released by Transparency Market Research, the global digital pathology market is expanding at a CAGR of 11.4% within a forecast period of 2015 to 2025. This market is expected to grow at an optimistic pace over the given forecast period. The key players in the global digital pathology market are Yokogawa Electronic Corporation, Olympus Corporation, ZEISS, Digipath Co., Hamamatsu Photonics, K.K., 3D-Histech Ltd., Leica Biosystems, Ventana Medical Systems, Inc., Inspirata Co., GE Healthcare, Koninklijke Philips N.V, Sectra AB, MedImmune, LLC (AstraZeneca), and Perkin Elmer, Inc.
Global Digital Pathology Market Boosted by Increased Healthcare Expenditures
A key factor promoting the growth of the global digital pathology market is the rapidly growing expenditure on healthcare, and specifically, into pathology. As the interest of healthcare organizations and government bodies is growing, so is the funding and overall revenue stream in the global digital pathology market There is a growing stress on creating collaborative progress in the global digital pathology market, as it not only helps solve multiple complications faced by individual organizations, but it also helps fulfil the purpose for the proliferation of the digital pathology utilities. Digital slides can become a major part of healthcare communications and therefore accelerate diagnostics and treatments on a global scale.
Growing Need for Module Integration Further Boosts Global Digital Pathology Market
Another driver for the global digital pathology market is the increasing requirement for the integration of modules. These integrated levels can help the global digital pathology market achieve a high rate of interoperability. It can therefore help the market become a reliable and conclusive passage for the research efforts of pathologists. Additionally, the global digital pathology market is also showing major opportunities in robotics and automation. There is a huge demand for diagnostic automation, owing to the growing number of samples that need to be diagnosed on a regular basis. These higher numbers are creating a higher need for an automated process that can move from collecting the sample to formulating the final diagnosis.
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The global digital pathology market, however, is expected to be stifled by a few factors. The major restraint on the global digital pathology market currently is the heavy initial expenses that players have to bear for the installation and implementation of digital pathology systems. Another factor that is slowing down the global digital pathology market is the set of government rules that change from one region to another. These regulations are also becoming increasingly stringent over time, further complicating the strategies of players in the global digital pathology market.