The global digital pathology market is projected to be valued at USD 423.1 Million in 2017 and is expected to grow at a CAGR of 12.3% to reach to USD 756.1 Million by 2022.
The key factors propelling the growth of this market include increasing initiatives by governments and industry players, ease of consultation, increasing adoption of digital pathology to enhance lab efficiency, rising prevalence of cancer, and growing applications of digital pathology in drug development and companion diagnostics.
Leica Biosystems (Germany) is one of the leading players in global digital pathology market. The company is one of the worlds largest, privately-owned businesses, providing digital and anatomic pathology products and services. In order to grow in the digital pathology business, the company pursues the strategies of expansion, acquisition, new product launches and collaboration. For instance, in February 2016, Leica Biosystems collaborated with Cockerell Dermatopathology (U.S.), which aimed to improve the experience of Cockerell’s dermatologists and their patients with the utilization latest digital pathology services from Leica Biosystems.
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3DHISTECH LTD (Hungary) is a prominent company of the global digital pathology market especially in scanner devices. 3DHISTECH develops, manufactures, and supplies a broad range of digital pathology systems, software’s and services. 3DHISTECH Ltd. is one of the pioneers in the field of digital pathology and has sold more than 500 systems. The company has gained a major share in the digital pathology market on account of its diversified product portfolio in the diagnostics business, widespread geographical presence, and focus on strategies like product launches. In October 2014, 3DHISTECH launched new software applications such as CISHQuant, FISHQuant, DensitoQuant, HistoQuant, PatternQuant, NuclearQuant, MembraneQuant, CellQuant, Tumor Board, and TMA Module. These applications help to strengthen the company’s digital pathology product portfolio.
Hamamatsu Photonics K.K. (Japan) is another dominant player in the digital pathology market. The company is a leading provider of photoelectron conversion technologies. The company develops, manufactures, and supplies a broad range of digital pathology scanners and software. The company focuses on expansion as one of its key growth strategies to widespread its global presence and strengthens its product portfolio. In December 2014, Hamamatsu Photonics K.K. opened a new wholly owned subsidiary, Hamamatsu Photonics Taiwan Co., Ltd., in Taiwan (China) to enhance its sales support for distributors of the company’s product in Taiwan and neighboring countries.
Ventana Medical Systems, Inc. (U.S.) is among the major leading players in the global digital pathology market. Ventana focuses on tissue-based cancer diagnostics and manufactures over 200 cancer tests with related instruments. The company is engaged in the discovery, development, manufacturing, and commercialization of digital pathology equipment’s. In November 2015, the company launched the Ventana HE 600 System, an automated hematoxylin and eosin (H&E) staining system. This system aims to provide highly standardized stained slides for better pathological diagnosis.
Philips Healthcare (The Netherlands) is an eminent company in the global digital pathology market. R&D is a key area of focus of the company in order to expand its product portfolio. The company has gained a valuable share in the digital pathology market on account of its numerous agreement and collaborations in the healthcare business, widespread geographical presence; and focus on inorganic growth strategies like collaborations & partnerships. For instance, in October 2015, Royal Philips collaborated with Genomic Health, Inc. (U.S). Under this collaboration, Philips’ IntelliSite Digital Pathology Solution was integrated into the Genomic Health’s molecular diagnostic testing processes. This collaboration aimed to enhance the genomic testing processes useful for precision diagnosis of chronic diseases like cancer.
Other major players in the market are Apollo Enterprise Imaging Corp. (U.S.), Xifin, Inc. (U.S.), Definiens AG (Germany), Visiopharm A/S (Denmark), Omnyx, LLC (U.S.), Corista LLC (U.S.)
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