(EMAILWIRE.COM, January 17, 2017 ) The digital pathology market is poised to reach USD 679.1 Million by 2021, growing at a CAGR of 12.1% during the forecast period of 2016 to 2021. The growth of the overall market can be contributed to the rising cancer prevalence, increasing tele-consultations, utilization of digital pathology for drug discovery and companion diagnostics, and increasing government and industry player’s initiatives into the pathological services. However, stringent regulatory concerns for primary diagnosis and lack of standard guidelines for digital pathology are likely to hamper the growth of the market.

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This report segments the digital pathology market based on product, type, end user and application. The product segments described in the report are scanner, software, communication system and storage system. The scanner segment is expected to account for the largest share of the market in 2016. The large share of this segment is mainly attributed to the increasing adoption of digital pathology solutions across globe. Software segment is projected to have fastest growth rate of 12.6% in the forecast period, due to availability of user-friendly, analytical and advanced functions for pathology diagnosis.

North America is estimated to account for the largest share of the global digital pathology market. Increasing cancer prevalence, rising demand for quality diagnostics, favorable reimbursement policies, and initiatives undertaken by governments are some of the key factors driving the growth of the market in North America. Europe is expected to account for the second-largest share of the market. A majority of the leading players in the market are pursuing the strategies of new product launches, collaborations, and partnerships.

In the coming years, the digital pathology market is expected to witness the highest growth in the Asia-Pacific region, with emphasis on China, Japan, India and the Rest of Asia-Pacific. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. Factors such as large patient population, shortage of pathologists, increasing initiatives in the healthcare industry by key market players, and rising adoption of advanced technologies for disease diagnosis are driving the growth of the market in this region.

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Prominent players in the global digital pathology market are Leica Biosystems Nussloch GMBH (Germany), Ventana Medical Systems, Inc.(U.S.), Hamamatsu Photonics K.K (Japan), 3D Histech Ltd(Hungary)., Philips Healthcare (Netherlands), 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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