(PharmaNewsWire.Com, March 11, 2021 ) The global digital pathology market is projected to reach USD 1,054 million by 2025 from USD 553 million in 2020, at a CAGR of 13.8% during the forecast period. The growth of this market is majorly attributed to the increasing adoption of digital pathology to enhance lab efficiency, the rising prevalence of cancer, and the growing application of digital pathology in drug development & companion diagnostics. However, a lack of trained pathologists is expected to challenge market growth in the coming years.
Covid-19 Impact on the Digital Pathology Market
The current COVID-19 pandemic has resulted in a massive number of patients visiting healthcare facilities on a daily basis. According to WHO data, there were 39.9 million confirmed COVID-19 cases and 1.1 million deaths globally, as of October 19, 2020. Due to the COVID-19 outbreak, the number of pathological tests conducted globally has decreased. Additionally, the lockdowns and restrictions implemented globally has negatively affected the demand for these solutions in 2020. However, the FDA approval for the use of digital pathology solutions for primary diagnostic purposes is expected to increase the demand during the forecast period. Thus, the need for better remote access to assess the patient’s diagnostic tests is expected to increase the demand for digital pathology solutions in the coming five years.
North America dominates the digital pathology market, by region, in 2019
North America accounted for the largest share of the digital pathology market in 2019. The large share of this region in the global digital pathology market can be attributed to the increasing prevalence of cancer, rising demand for quality diagnostics, the introduction of favorable reimbursement policies, and the implementation of favorable initiatives by the government in the US and Canada. The North American market is also expected to grow at the highest rate during the forecast period.
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