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Dublin, March 09, 2021 (GLOBE NEWSWIRE) -- The "North America Digital Pathology Market Size, Share & Trends Analysis Report by Product (Software, Device), by Application, by End Use (Cancer Hospitals, Diagnostic Labs), by Region, and Segment Forecasts, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering. The North America digital pathology market size is expected to reach USD 593.9 million by 2028. The market is expected to expand at a CAGR of 6.5% from 2021 to 2028. The market is predominantly driven by the growing prevalence of chronic diseases such as cancer. As a consequence of the high prevalence of cancer, pathologists require data that facilitate personalizing therapy for patients. Hence, digital pathology is progressively being selected by pathologists as it has various benefits including accelerated diagnosis rate, diagnostic accuracy, and offers therapeutic recommendations to improve patient outcomes.The growing number of collaborative agreements to develop as well as expedite the adoption of digital pathology in cancer diagnostics serves as a key growth factor contributing to the market. The use of artificial intelligence in digital pathology has gained momentum in the past years. The increasing need for lowering healthcare costs, increasing importance of big data in healthcare, rising adoption of precision medicine, and declining hardware costs are some factors driving the growth. In addition, increasing usage of artificial intelligence-based analytical tools in healthcare and high capital investments in this field are further propelling market growth.During the coronavirus outbreak, the exponential need for home-based workstations and safe clinical informatics systems allowing healthcare professionals to read images remotely and enabling virtual collaboration between their multi-disciplinary care teams has increased. Various histopathology departments in the region faced a reducing workforce and increasing workload during the pandemic. Digital pathology considered being the potential solution for some of the challenges faced by the pathologist, there is an increase in the adoption of digital diagnosis of disease during coronavirus outbreak.In April 2020, Philips announced that the FDA granted a waiver for home use of consumer monitors with the company's IntelliSite Pathology Solution during the emergency. The temporary exemption of restrictions on remote use of the digital pathology helps pathologists to access whole slide images from home and fasten the diagnosis of histology cases. Some pathology labs that have adopted DP in their workflows across different sites pre-COVID-19, reported improved collaboration, and an average productivity gain of 21.0% with operation efficiency increased by 13.0%. These types of initiatives are anticipated to fuel market growth.North America Digital Pathology Market Report Highlights The software segment is anticipated to witness a lucrative growth rate of 6.8% in the coming years. The segment is inclusive of pathology workflow management solution and LIMS software.This software is simple to install and use, easy to obtain specific patient information, and efficiently and quickly sends reports digitally to pathologists and clinicians. Owing to these associated advantages the software segment is expected to witness lucrative growth over the forecast period.The practice of sharing digital imagery across labs helps in accelerating drug discovery and development processes by enabling pathologists to effectively analyze records and communicate and collaborate on crucial result findings in tissue-based efficacy studies.The disease diagnosis segment is projected to witness a significant CAGR of 7.0% in the coming years as the FDA approved the practice of sharing digital imagery across labs for primary diagnosis applications such as cancer cell detection.Diagnostic laboratories are expected to witness lucrative growth of 7.1% over the forecast period owing to the rising incidence of cancer in this region. Moreover, the implementation of digital pathology solutions and devices is likely to help improve laboratory workflow efficiency, accuracy, and quality of disease diagnosis using computational pathology.Competitive rivalry in the market is expected to remain high over the forecast period. The market is dominated by few players such as Philips and Leica Biosystems that hold a majority of the revenue.The strategies implemented by these players are product differentiation, new product launch, collaboration, merger, and acquisition to gain a larger share of the market. Key Topics Covered: Chapter 1 Research Methodology & Scope1.1 Market Segmentation & Scope1.2 Research Methodology1.3 Information Procurement1.4 Information or Data Analysis1.5 Market Formulation & Validation1.6 Model Details1.7 List of Primary Sources1.8 List of Secondary Sources1.9 List of Abbreviations1.10 Market Definitions1.11 Report ObjectivesChapter 2 Executive Summary2.1 Market Outlook2.1.1 North America North America Digital Pathology Market Outlook, 2016-2027 (USD Million)2.2 North America North America Digital Pathology Market Summary, 20202.3 Segment Outlook2.4 Regional Insights2.4.1 U.S.2.4.1.1 U.S. Digital Pathology market estimates and forecasts, 2016 - 2028 (USD Million)2.4.2 Canada2.4.2.1 Canada Digital Pathology market estimates and forecasts, 2016 - 2028 (USD Million)2.5 Competitive InsightsChapter 3 North America Digital Pathology Market: Product Estimates & Trend Analysis3.1 North America Digital Pathology Market: Product Movement Analysis3.2 Software3.3 DevicesChapter 4 North America Digital Pathology Market: Application Estimates & Trend Analysis4.1 North America Digital Pathology Market: Application Movement Analysis4.2 Drug Discovery & Development4.3 Academic Research4.4 Disease Diagnosis4.4.2 Cancer cell Detection4.4.3 Other applicationsChapter 5 North America Digital Pathology Market: End-use Estimates & Trend Analysis5.1 North America Digital Pathology Market: End-use Movement Analysis5.2 Cancer Hospitals5.3 Diagnostic Laboratories5.3.1 Diagnostic Laboratories MARKET estimates and forecasts, 2016 - 2028 (USD Million)5.3.2 Independent Pathology Labs5.3.3 Large Pathology Labs5.4 Academic and Research InstitutesChapter 6 North America Digital Pathology Market Variables, Trends & Scope6.1 Market Lineage Outlook6.1.1 Parent market outlook6.1.2 Ancillary market outlook6.2 Penetration & Growth Prospect Mapping6.3 North America Digital Pathology Market Dynamics6.3.1 Market Driver Analysis6.3.1.1 Increasing prevalence of chronic diseases6.3.1.2 Higher Cost-Efficiency6.3.1.3 Rapid technological advancement6.3.2 Market restraint analysis6.3.2.1 Lack of reimbursement for digital pathology-enabled services6.3.3 Industry Challenges6.4 North America Digital Pathology Market Analysis Tools: Porters6.5 SWOT Analysis By Factors (Political & Legal, Economic, Social and Technology)6.6 Regulatory Framework6.6.1 List of regulations6.7 Political Landscape, Current & Future Scenario6.7.1 List of regulations6.8 Cost Structure Analysis6.8.1 Price Erosion AnalysisChapter 7 Potential Buyer Analysis7.1 U.S. Demographic Information and Consumer Market Size7.1.1 Pathology Laboratories7.1.2 Hospitals7.1.3 Academic & Research Institutes7.2 List of Potential Customers7.2.1 List of hospitals in the U.S7.2.2 List of Pathology Laboratoreis in the U.S7.2.3 Penetration of Digital Pathology7.2.4 Estimated Penetration of Digital Pathology In Primary Read Vs Secondary in the U.S.7.2.4.1 Estimated penetration of digital pathology in pathology laboratories7.2.4.2 Estimated penetration of digital pathology in Cancer Hospitals7.3 Future Outlook7.3.1 User Perspective Analysis7.3.1.1 Consumer behaviour analysis7.3.1.2 Market influencer analysis7.3.1.2.1 Consumer preference7.3.1.2.2 Technology trends7.3.1.2.3 Cost of implementation7.3.2 Opportunity Analysis7.3.2.1 Potential growth for digital pathology solutions7.3.2.2 Market Entry Strategies7.3.2.3 Regulatory requirements for new players7.3.2.4 Competitive Strategies7.4 Covid-19 Impact Analysis7.4.1 COVID-19 Outbreak7.4.2 Current Scenario7.4.3 Demand AnalysisChapter 8 North America Digital Pathology Market Competitive & Vendor Landscape8.1 Participation Categorization8.2 Public Companies8.2.1 Estimated Company Market Share Analysis, 20208.2.2 Company market position analysis8.3 Private Companies8.3.1 Company market position analysis8.3.2 Regional network map8.3.3 List of emerging companies8.4 Recent Developments & Impact Analysis, By Key Market Participants8.4.1 Strategic Initiatives & Outcome Analysis8.5 Major Deals And Strategic Alliances Analysis8.6 Case Study8.7 Detailed List of Players8.7.1 List Of Distributors8.7.2 List Of Key Companies, by RegionChapter 9 Company Profiles DanaherHamamatsu Photonics, Inc.Koninklijke Philips N.V.Olympus CorporationF. Hoffmann-La Roche LtdMikroscan Technologies, Inc.3DHISTECH LTDInspirata, Inc.Visiopharm A/SHuron Technologies International, Inc For more information about this report visit https://www.researchandmarkets.com/r/bir4ov CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
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