Industry Background:
The global Digital Diagnostics market is expected to witness high demand in the forecasted period due to the rising prevalence of cancer. Digital diagnostics deals with a common tool in which a person can easily collaborate across the entire application lifecycle by allowing quick isolation and resolution of issues. This new technology supports progress in the medical care system by contributing to the precision and correctness of the diagnostics output.
Attributes | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Leica Biosystems (Germany), Ventana Medical Systems (United States), Hamamatsu Photonics (Japan), 3DHISTECH (Hungary), Philips (Netherlands), Medtronic, Inc. (Ireland), Neurovigil, Inc. (United States), Oxitone Medical Ltd. (Isreal), Cerora (United States), CellScope (United States) and MidMark Corp. (United States) |
According to AMA, the market for Digital Diagnostics is expected to register a CAGR of 12.3% during the forecast period to 2032. This growth is primarily driven by The Growing Adoption of Digital Pathology to Enhance Lab Efficiency, The Upsurging Governments Support for Digital Diagnostics and Integration of Laboratory Information Systems (LIS) and Digital Pathology Systems.
Globally, a noticeable market trend is evident The Increasing Demand from Drug Development and Companion Diagnostics
The Health Care Facilities sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Leica Biosystems (Germany), Ventana Medical Systems (United States), Hamamatsu Photonics (Japan), 3DHISTECH (Hungary), Philips (Netherlands), Medtronic, Inc. (Ireland), Neurovigil, Inc. (United States), Oxitone Medical Ltd. (Isreal), Cerora (United States), CellScope (United States) and MidMark Corp. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Key Developments in the Market:
On 29th August 2019, Hamamatsu Photonics introduces a new micro PMT encapsulated in a plastic package ideal for downsizing medical diagnostic devices and environmental analyzers. This new micro PMT goes on sale on October 1, 2019.
In September 2023, BT has launched new AI and digital services in diagnostics to support the NHS in tackling wait times and speeding up diagnosis for patients. At the same time it is building on its ability to become a digital aggregator for an overstretched health service faced with a flood of new AI tools.
Influencing Trend:
The Increasing Demand from Drug Development and Companion Diagnostics, Ease of Consultation Enabled By Digital Pathology and Introduction of Affordable Scanners for Private Pathology Practices
Market Growth Drivers:
The Growing Adoption of Digital Pathology to Enhance Lab Efficiency, The Upsurging Governments Support for Digital Diagnostics and Integration of Laboratory Information Systems (LIS) and Digital Pathology Systems
Challenges:
Lack of Standard Guidelines
Restraints:
The Growing Concern Related to High Cost of Digital Pathology
Opportunities:
The ongoing technological advancements in digital pathology systems are projected to contribute to significant market growth. There are various advancements are responsible for market growth including digital imaging, robotic light microscopy, computerization, and multiple fiber optic communications. Whole slide imaging is a popular technology that has various benefits over traditional light microscopes, which is projected to provide lucrative opportunities to the global market.
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Digital Diagnostics Market
- Analysis about New Entrants in Digital Diagnostics Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Digital Diagnostics Study Sheds Light on
The Digital Diagnostics Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Digital Diagnostics industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Digital Diagnostics industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.