The Europe Digital Pathology Market would witness market growth of 5.8% CAGR during the forecast period (2020-2026). Digital pathology plays a very crucial role in companion diagnostics & drug development pipeline, which includes biobanking, molecular biology, molecular tissue profiling, and tissue microarray analysis. The tissue-based biomarker research has massive demand for high-quality tissue samples which is anticipated to raise the adoption of the technology during the forecast period.
Moreover, demand for digital image analysis is expected to witness a surge due to the enhancements like microarrays & the implementation of a broad range of predictive models like hybrid models and API algorithms. The shifting preference for computer-aided diagnosis that combines image processing, mathematics, physics, and computing algorithms, helps in effective detection of the disease which further helps in analyzing anatomic structures of interest and calculates the disease progression along with the risk assessment. All these advantages are estimated to surge the growth of the market during the forecast years.
The outbreak of the Covid-19 pandemic has affected the majority of the business sectors including the healthcare sector. Many governments around the globe have imposed lockdown rules, quarantine period, and social distancing to cope up with the risk of the virus. But, this pandemic offered various growth opportunities for the digital pathology market.
Based on Product, the market is segmented into Device, Software and Storage System. Based on End Use, the market is segmented into Hospitals, Diagnostic Labs, Biotech & pharma companies and Academic & research institutes. Based on Application, the market is segmented into Drug Discovery & Development, Disease Diagnosis and Academic research. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The Germany market dominated the Europe Diagnostic Labs Market by Country in 2019, growing at a CAGR of 4.9 % during the forecast period. The UK market is showcasing a CAGR of 4.6% during (2020 - 2026). Additionally, The France market is poised to grow at a CAGR of 6.9% during (2020 - 2026).
The Disease Diagnosis market dominated the Italy Digital Pathology Market by Application in 2019, thereby, achieving a market value of $10.8 Million by 2026. The Drug Discovery & Development market is experiencing a CAGR of 6.5% during (2020 - 2026). The Academic research market is estimated to grow at a CAGR of 6.5% during (2020 - 2026).
Free Valuable Insights: Digital Pathology Market in Europe is expected to register a CAGR of 5.8% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Danaher Corporation (Leica Biosystems), Koninklijke Philips N.V., Olympus Corporation, F. Hoffmann-La Roche Ltd., ContextVision AB, Hamamatsu Photonics K.K., Mikroscan Technologies, Inc., Inspirata, Inc., Visiopharm A/S, and 3DHISTECH Ltd.
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