Jan 24, 2018   SOURCE: PR NewsWire

Global Digital Pathology Market Set to Witness Double-Digit Growth

LONDON, Jan. 24, 2018 /PRNewswire/ -- The latest Frost & Sullivan analysis of the digital pathology market identifies new business models and more FDA approvals of whole slide imaging (WSI) scanners for primary diagnostics as key growth drivers. In fact, recent research into Growth Opportunities in the Global Digital Pathology Market projects that the global digital pathology market will reach $708.9 million by 2021 at a compound annual growth rate (CAGR) of 13.2 percent.

Frost & Sullivan expects machine learning and AI-based platforms that enable useful clinical interpretation of the whole slide image to offer substantial growth potential. Whole slide scanning is a key growth area with high adoption rates due to its ability to handle multiplex staining using multi-spectral imaging systems that allow more accurate biomarker tissue probing. Growth Opportunities in the Global Digital Pathology Market, Forecast to 2021 provides an analysis of key market dynamics, drivers, restraints, forecast and trends, regional analysis, market growth opportunities, segments to watch, and competitive analysis.

To access more information on this analysis, please click here.

"The high investment cost of digital pathology is expected to be alleviated by leasing or other innovative business models," said Frost & Sullivan Transformational Health Senior Research Analyst Saravanan Thangaraj. "Centralised labs with specialised, large-scale, high-throughput systems that operate digital pathology services on a cost-per-test basis will increase, leading to pricing pressures in the market."

In a highly competitive market, strategic partnerships will be essential for growth. Thangaraj recommends that vendors providing one or two components for their entire digital pathology portfolio strengthen their market presence and product portfolios by adopting collaborative partnerships or merger and acquisition strategies to develop more robust, complete, and competitive offerings.

Further strategic imperatives for growth in the global digital pathology market include:

    --  Establishing a core value proposition for labs to adopt digital
        pathology solutions;
    --  Supplement product development efforts with partnerships and M&As;
    --  Ensuring convergence of pathology informatics and multi-omics data to
        support disease research; and
    --  Developing regional digital pathology service centres to cater to
        small-medium labs.

"Despite notable growth opportunities, big challenges lie in the integration of new whole slide systems with existing laboratory information systems (LIS)," observes Thangaraj. "Moreover, interoperability with separate coding for immunohistochemical (IHC) and allied systems, as well as high investment cost and expenditure in hardware procurement, are sizeable deterrents to near-term digital pathology systems adoption."

Growth Opportunities in the Global Digital Pathology Market, Forecast to 2021 is part of Frost & Sullivan's Transformational Health Growth Partnership Services Program.

About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion.

Growth Opportunities in the Global Digital Pathology Market,
Forecast to 2021
MD55-55

Contact:
Kristina Menzefricke
Corporate Communications - Frost & Sullivan, Europe
P: +44 (0)208 996 8589
E: kristina.menzefricke@frost.com
http://www.frost.com

Twitter: @FS_Healthcare
LinkedIn: Transform Health

View original content:http://www.prnewswire.com/news-releases/global-digital-pathology-market-set-to-witness-double-digit-growth-300587391.html

SOURCE Frost & Sullivan