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The German digital pathology market is projected to garner revenue worth $58 million by 2022, registering a CAGR of 12.1% over the forecast period. The growth of the market is attributed to factors such as efficient cost of digital pathology products, ease of virtual transportation of slides, high efficiency of digital pathology systems, and more efficiency. In addition, higher adoption of digital pathology over conventional pathology treatments further drives the world market. On the other hand, barriers such as lack of reimbursement, lack of skilled personnel, and unwillingness of older pathologists to adopt to new technology are some of the major factors expected to restrain the market growth. However, rise in initiatives towards commercialization of cost-efficient digital pathology systems would offer profitable growth opportunities for service providers in the future.
The German digital pathology market is segmented on the basis of product and end users. Based on product, the market is classified into Whole Slide Imaging (WSI), image analysis informatics, information management system storage & communication, and telepathology. Whole slide imaging is the highest revenue-generating segment as it is the most preferred method and is used to produce digital slides by scanning the whole glass slide. Similarly, by end user, the market is segmented into educational institutes, hospitals & diagnostic centers, and pharma & biotechnology companies.
Companies have adopted product launch and collaboration as their key development strategies. Increase in focus on product launch is mainly for the development of innovative technologies in the field of digital pathology. In March 2016, Definiens launched “Immunoprofiling Panel” to screen their target biomarkers and measure immune response, thereby expanding its product portfolio.
KEY BENEFITS FOR STAKEHOLDERS:
KEY MARKET SEGMENTS:
By End User
Key players operating in the market include:
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