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Digital Pathology Systems - Global Market Trajectory & Analytics

  • ID: 2531223
  • Report
  • August 2020
  • Region: Global
  • 620 Pages
  • Global Industry Analysts, Inc
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COVID-19 Encourages Fully-Actioned Digital Strategies. Digital Pathology Systems Spikes by 18.3%

The global market for Digital Pathology Systems is expected to witness demand spike by 18.3% in the year 2020 highlighting a US$89.1million gains in annual revenue. Thereafter the market is expected to accelerate further and reach US$1.4 billion by the year 2027 trailing a CAGR of 13.9% over the analysis period 2020 to 2027.Pathology plays a huge role in the healthcare system and is a key part of clinical decision support. The pandemic has catalyzed the urgency of going digital and health systems are responding at lightning speeds. From telemedicine, wearable`s, IR monitoring to automation via use of robots, technology adoption is swift to ensure uninterrupted non-COVID care delivery with minimal infection risks. Deployment of IT is also gaining swift momentum as evidenced by rising demand for cloud solutions; analytics; sustainable supply chain solutions; EMR, EHR & digital pathology systems. With stay-at-home restrictions and the FDA`s decision to relax existing guidelines, various anatomic pathologists are embracing digital pathology to review images and slides from home. COVID-19 has resulted in dramatic decline in specimen referrals and associated revenues at anatomic pathology laboratories and groups. With the pandemic curtailing all but the most urgent cancer treatments and surgeries, histology laboratories are typically receiving extremely challenging tissue specimens for processing. In addition, there is a growing shortage of pathologists worldwide, with medical students entering the field failing to keep pace with the rate of retiring pathologists. Moreover, the strict physical distancing norms imposed to curb the spread of COVID-19 have led pathologists to stay of the lab.

However, amid the COVID-19 outbreak, new rules have been developed for allowing the increased usage of digital pathology and reading and reviewing of pathology slides and test results remotely, provided the test was initially performed in a CLIA-authorized laboratory. The pandemic prompted the CMS to ease restrictions for allowing pathologists to work and review pathology images remotely to reduce the risk of exposure to the virus. Applicable during the pandemic, the decision is bound to push capacity by supporting remote review of clinical results, laboratory data and pathology slides. The US FDA has temporarily eased guidelines pertaining to digital pathology services for encouraging medical professionals to remotely review scanned slides during COVID-19. The adoption of digital pathology is anticipated to reduce the exposure of pathologists to the virus and prevent disruption to critical pathology services. The new policy is applicable to Class-II digital pathology devices, and follows the CMS` decision to provide pathologists with the flexibility to remotely review clinical data, pathology studies and results during the outbreak. Prior to the COVID-19 pandemic, CMS guidelines under the Clinical Laboratory Improvement Amendments (CLIA) of 1988 prohibited clinicians from making primary diagnoses remotely. The regulation made it mandatory for pathologists to work in healthcare settings, hospitals or clinical laboratories holding the CLIA license. However, the pandemic prompted the CMS to suspend these requirements and allow pathologists to interpret and review cases remotely. The new policy from the FDA also allows the use of consumer monitors instead of medical-grade monitors. Pathologists can access images remotely over a secure VPN Internet connection to make diagnosis. In addition, the agency is making efforts to ensure access to remote digital pathology systems or devices amid the pandemic.

In short, although the world is in recession, it is not doomsday for digital health companies and VC funding will continue to increase given the unprecedented demand for digital health technology solutions. Future growth in the market will be driven by ever growing workload of pathologists; growing emphasis on quality of care and the resulting need for efficient, faster and cost-effective methods for accurate pathological assessment; and need for compliance with regulatory standards related to information management. Few of the benefits of digital pathology driving its adoption include digitalization of workflows; unification of patient data for more informed decision making; exposure to new clinical insights and data which adds to the volume of available expert knowledge; enables multi-disciplinary care by connecting multiple medical teams; enhanced workflow efficiency, reduced costs of operating pathological processes, quicker acquisition of high resolution images, and faster and accurate diagnosis. As healthcare moves to a value based system, zero tolerance to innate delays built into traditional pathology processes will drive growth of digital pathology systems. Focus on developing coherent and sustainable plans to address healthcare needs of the masses will drive increased investments in healthcare IT, especially in developing countries. Fully automated digital pathology are poised to witness strong growth in demand amid the rising emphasis on lab automation. Developments in laboratory information management system (LIMS) and network connectivity and speeds to enable digital pathology deliver on its promise of reduced diagnostic time in comparison with traditional microscopy will also be crucial to growth in the market. In addition, focus on disease prevention, early diagnosis and intervention will remain evergreen factors driving routine use of digital pathology services.

Competitors identified in this market include, among others:
  • 3DHISTECH Ltd.
  • Apollo Enterprise Imaging Corp.
  • Carl Zeiss AG
  • Corista LLC
  • Definiens AG
  • Hamamatsu Photonics K.K.
  • Huron Digital Pathology Inc.
  • Leica Biosystems Nussloch GmbH
  • MikroScan Technologies Inc.
  • Olympus Corporation
  • Philips Healthcare
  • Pixcelldata Ltd.
  • Ventana Medical Systems Inc.
  • VMscope GmbH.

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Impact of Covid-19 and a Looming Global Recession
  • COVID-19 Ushers in 2020 as the Year of Healthcare Digitalization
  • EXHIBIT 1: Global Venture Capital Investments in Digital Health Startups (In US$ Billion)
  • EXHIBIT 2: % Share VC Investments by Category for 2020
  • FDA Temporarily Relaxes Guidelines to Promote Remote Digital Pathology Services amid COVID-19 Pandemic
  • COVID-19 Highlights Need to Implement Structured Online Curriculum for Pathology Training
  • Future Outlook of Pathology Post-COVID-19
  • Digital Pathology: An Introduction
  • Key Digital Pathology Tools
  • Market Outlook
  • US and Europe Maintain Dominance
  • Emerging Markets to Experience Strong Growth
  • Scanners Lead Digital Pathology Market
  • Software Segment Post Strong Growth
  • Disease Diagnosis: Major Application of Digital Pathology Systems
  • Telepathology Experiences Strong Growth
  • Pharmaceutical and Biotechnology Companies: Important End Use Markets for Digital Pathology
  • EXHIBIT 3: Global Digital Pathology Systems Market by End-Use: 2020
  • Major Issues Hampering Adoption of Digital Pathology Systems
  • Competitive Landscape
  • EXHIBIT 4: Market Share of Leading Players in Digital Pathology Systems Market: 2020E
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Technological Advancements Drive Adoption of Digital Pathology Systems
  • Artificial Intelligence (AI) Steps in to Widen the Scope & Span of Digital Pathology
  • EXHIBIT 5: AI Spending in Healthcare & Lifesciences in US$ Million for Years 2020 & 2025
  • Advantages of AI-Powered Digital Pathology
  • Digital Pathology Benefits Drug Discovery Process
  • Need for Early Diagnosis Puts Focus on Digital Pathology
  • Digital Pathology Systems See Fast Paced Adoption in Cancer and Other Chronic Diseases
  • EXHIBIT 6: Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
  • EXHIBIT 7: Number of New Cancer Cases and Deaths (in Million) by Region for 2018
  • EXHIBIT 8: Global New Cancer Cases and Cancer-related Deaths by Cancer Site (in %) for 2018
  • Digital Pathology Emerges as a Tool to Reduce Cases of Cancer Misdiagnoses
  • Scarcity of Pathologists & Excess Workload on Pathology Labs Drives Demand for Digital Systems
  • Clinical Research Continues to be Core Vertical for Digital Pathology
  • Digital Imaging and Robotic Light Microscopy Boost Growth
  • Computational Pathology for Leading-Edge Image Analytics
  • Cloud Platform Gains Momentum
  • Telepathology Expected to Pave Way for Pathology Outsourcing to Developing Nations
  • Rise in Significance of Personalized Medicine Bodes Well for Digital Pathology
  • EXHIBIT 9: Global Personalized Medicine Market: Revenues in US$ Million for the Years 2019 and 2024
  • Increased Focus on Companion Diagnostics to Benefit Market Growth
  • Improving Healthcare & Research Expenditure to Support Growth
  • EXHIBIT 10: World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
  • Aging Population: A Key Opportunity Indicator
  • EXHIBIT 11: Global Aging Population: Population of 65+ Individuals (in Thousands) by Region for 2019 and 2030
  • EXHIBIT 12: Global Population of 65+ Individuals as % of Total Population by Region for 2019 and 2030
  • EXHIBIT 13: Global Cancer Deaths by Age Group (in %) for 2019
  • Challenges Facing Digital Pathology Systems Market
  • High Costs
  • Workflow Integration with Other Related Functions
  • Other Issues
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • GEOGRAPHIC MARKET ANALYSIS
  • UNITED STATES
  • COVID-19 Triggers Demand for Digital Pathology
  • Market Overview
  • Increasing Pressure on Pathological Labs: Cornerstone for Growth
  • Market Analytics
  • CANADA
  • JAPAN
  • Market Overview
  • Market Analytics
  • CHINA
  • Market Overview
  • Market Analytics
  • EUROPE
  • Market Overview
  • Market Analytics
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Market Overview
  • Market Analytics
  • AUSTRALIA
  • INDIA
  • Market Overview
  • Inadequate Infrastructure Impedes Adoption of Telepathology
  • Market Analytics
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
IV. COMPETITION
  • Total Companies Profiled: 74
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