14 June 2013 | Analysis | By BioSpectrum Bureau
Frost & Sullivan - Digital pathology market in Europe will expand to $143.59 million in 2019 and $205.67 in the US
â€ŽSingapore: Analysis from Frost & Sullivan predicts that digital pathology market, in Europe is estimated to expand from $62.23 million in 2012 to reach $143.59 million in 2019, while the market in the US is projected to increase from $77.23 million-to-$205.67 million over the same time period.
During this time, a spurt in anatomic pathology will result in the US digital pathology market enjoying a faster compound annual growth rate (CAGR) of 17 percent more than Europe's CAGR of 12.70 percent.
Evolving technologies and market forces reveal that digital pathology is poised to radically affect the daily workflow and activities of pathologists and diagnostic laboratories. Attracted by the prospect of improved connectivity and reduced overall healthcare costs, most laboratories are anticipated to switch over to digital pathology systems over the next seven-toeight years.
An escalating workload in many clinical laboratories, which is anticipated to increase by eight-to-ten percent each year, is motivating greater demand for digital pathology systems. On their part, vendors are designing high throughput scanners that will meet these ever heavier workloads.
"In Europe and the US, pathology laboratories and academic departments have recognized the importance of adopting digital pathology," noted Frost & Sullivan senior research analyst, Ms Divyaa Ravishankar. "They are looking to replace traditional microscopes with digital scanners and create the necessary IT infrastructure to support this move."