Amid the COVID-19 crisis, the global market for Digital Pathology Systems estimated at US$749.5 Million in the year 2020, is projected to reach a revised size of US$1.5 Billion by 2027, growing at a CAGR of 10.3% over the analysis period 2020-2027.Device, one of the segments analyzed in the report, is projected to grow at a 10.9% CAGR to reach US$968 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 10% CAGR for the next 7-year period. This segment currently accounts for a 23.8% share of the global Digital Pathology Systems market.
The U. S. Accounts for Over 27% of Global Market Size in 2020, While China is Forecast to Grow at a 13.6% CAGR for the Period of 2020-2027
The Digital Pathology Systems market in the U. S. is estimated at US$202.5 Million in the year 2020. The country currently accounts for a 27.01% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$320.1 Million in the year 2027 trailing a CAGR of 13.7% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.1% and 8.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.1% CAGR while Rest of European market (as defined in the study) will reach US$320.1 Million by the year 2027.
Storage System Segment Corners a 13.7% Share in 2020
In the global Storage System segment, USA, Canada, Japan, China and Europe will drive the 7.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$77.2 Million in the year 2020 will reach a projected size of US$128.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$215.1 Million by the year 2027, while Latin America will expand at a 9.5% CAGR through the analysis period. The publisher brings years of research experience to this 15th edition of our report. The 391-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
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.
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Digital Pathology Systems: Providing Accuracy, Efficient Analysis, and Cost Reduction Benefits to Pathology Practices
Recent Market Activity
Need to Enhance Workflow Efficiencies and Reduce Costs to Aid Growth of Digital Pathology Systems Market
Developed Markets to Maintain Dominance
Digital Pathology Systems See Fast Paced Growth in Emerging Nations
Scanners Lead Digital Pathology Market, Image Analysis Software to Record Fast Growth
FDA Approval for WSI System Opens Up a World of Opportunities for Digital Pathology Market
Innovative Software Solutions for Digital Pathology Systems
Virtual Microscopy - Digitization of Microscopic Slides to Drive Growth
Disease Diagnosis - The Major Application of Digital Pathology Systems
Hospitals and Laboratories Dominate Digital Pathology Systems Market
Major Issues Hampering Adoption of Digital Pathology Systems
Technology Related Challenges Hold Back Adoption of Digital Pathology Systems
The Future in Retrospect
Global Competitor Market Shares
Digital Pathology Systems Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3DHISTECH Ltd. (Hungary)
Apollo Enterprise Imaging Corp. (USA)
Carl Zeiss AG (Germany)
Corista LLC (USA)
Definiens AG (Germany)
Hamamatsu Photonics K.K. (Japan)
Huron Digital Pathology, Inc. (Canada)
Leica Biosystems Nussloch GmbH (Germany)
MikroScan Technologies, Inc. (USA)
Olympus Corporation (Japan)
Philips Healthcare (Netherlands)
Pixcelldata Ltd. (Ireland)
Ventana Medical Systems, Inc. (USA)
VMscope GmbH (Germany)
3. MARKET TRENDS & DRIVERS
The Many Advantages of Digital Pathology over Traditional Pathology
The Invaluable Connected Data Made Possible by Digital Pathology Systems
The Need for Automation in Tissue Analysis
Workflow Efficiencies: A Key Market Driver for Digital Pathology Systems
Scarcity of Pathologists & Excess Workload on Pathology Labs Drives Demand for Digital Systems
Need for Early Diagnosis Puts Focus on Digital Pathology
Clinical Research Continues to be Core Vertical for Digital Pathology
Digital Pathology Evolves to Computational Pathology
Computational Pathology for Leading-Edge Image Analytics
Technological Advancements Ease Issues in Digital Pathology Adoption
Possibilities Ahead in Digital Pathology
Digital Pathology Systems Continue to Widen their Scope
Digital Pathology Systems See Fast Paced Adoption in Cancer and Other Chronic Diseases
Digital Pathology Emerges as a Tool to Reduce Cases of Cancer Misdiagnoses
Move towards Hosted Technology: The New Fad
Digital Pathology as a Service Eludes Cost-based Issues
Telepathology Expected to Pave Way for Pathology Outsourcing to Developing Nations
Rising Emphasis on Lab Automation Extends Opportunity for Digital Pathology
Rising Penetration of Personalized Medicine Bodes Well for Digital Pathology
Increased Focus on Companion Diagnostics to Benefit the Market
Digital Pathology Images and the Quality Concerns
Improving Healthcare & Research Expenditures Turbo Charge Digital Pathology
Burgeoning Global Population: A Strong Business Case for Market Growth
Aging Population: A Key Opportunity Indicator
Challenges Facing Digital Pathology Systems Market
Workflow Integration with Other Related Functions
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
Market Facts & Figures
US Digital Pathology Systems Market Share (in %) by Company: 2020 & 2025
Market Facts & Figures
European Digital Pathology Systems Market: Competitor Market Share Scenario (in %) for 2020 & 2025
REST OF EUROPE
REST OF ASIA-PACIFIC
REST OF LATIN AMERICA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
Total Companies Profiled: 55