Global Telepathology Service Market Will Reach USD 1,786 Million By 2027: Facts & Factors

Telepathology Service Market

Telepathology Service Market

Global Telepathology service market is expected to reach a value of around USD 1,786 million by 2027, at a CAGR of around 12.2 % between 2019 and 2027.

NEW YORK, UNITED STATES, June 16, 2020 /EINPresswire.com/ — Facts and Factors Market Research has published a new report titled “Telepathology Service Market By Systems (Dynamic, Hybrid, and Static), By Application (Diagnosis, Research, Education, and Others), and By End-User (Hospitals, Research Organizations, Diagnostic Centres & Pathology Clinics, Academic Institutes, and Pharmaceutical & Biotech Firms): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”.

According to the report, the global Telepathology service market was valued at approximately USD 637 million in 2018 and is expected to reach a value of around USD 1,786 million by 2027, at a CAGR of around 12.2 % between 2019 and 2027.

Telepathology is the practice of pathology from a distant location. It makes use of telecommunications techniques facilitating the transfer of image-rich pathology information between distant sites for diagnosis, research, and educational purpose. In order to perform Telepathology, the pathologist is required to select video images which are to be examined and then render a diagnosis.

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Key players in the Telepathology service industry include Meyer Instruments, F. Hoffmann-La Roche Ltd., OLYMPUS CORPORATION, General Electric Company, Teleconsult Europe, UNILABS, Remote Medical Technologies, LLC, Apollo Tele Health Services, SRL Diagnostics., Diagnostic Instruments, Inc. (SPOT Imaging), eVisit Telemedicine Solution, Leica Biosystems Nussloch GmbH, and Washington University in St. Louis (Diagnostic Laboratory Services).

Escalating occurrence of chronic ailments to boost the market trends

A rise in the acceptance of Telepathology in case of medical emergency along with the need for enhancing the patient diagnostic imaging procedures will scale up the market growth. Apart from this, the need for reducing high costs related to conventional diagnostics is projected to further fuel the growth of Telepathology service market during the forecast timeline. With old people becoming prone to suffer from chronic ailments such as heart disorders, it has become necessary to use technologically innovative diagnostic & imaging procedures in order to provide them with effective medical treatment. This has culminated in more demand for Telepathology services across the globe.

Moreover, technological breakthroughs and the addition of new features to Telepathology systems are likely to leverage the growth of the Telepathology service market during the forecast timespan. Nonetheless, high costs of new technology can put brakes on the growth of the industry over the forecast timeframe.

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Dynamic system segment to dominate the overall market share during the forecast timeline

Dynamic system segment contributed nearly 59% of the overall market share in 2018. It is also projected to record the highest CAGR of approximately 12.1% during the period from 2019 to 2027. In dynamic systems, microscopic slide image transfer is made in real-time and this proves beneficial for the pathologist based at a distant location to accurately view the complete slide with different enlargements at his disposal.

Hospitals to lead the end-user segment over the forecast period

The hospitals segment is predicted to accrue nearly USD 1060 million by the end of the forecast timeline. The growth of the segment can be credited to the rise in the utilization of Telepathology services in the monitoring of various diseases of patients in hospitals. These services also guide the physicians to go for the third opinion from other medical experts before performing surgeries on patients.

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North America to contribute majorly towards the overall market in terms of value

The growth of the Telepathology service market in North America can be attributed to escalated awareness about the advancement in the online technologies across the healthcare & medical sector. Apart from this, the presence of a strong healthcare infrastructure facility and easy availability of high-speed internet will contribute tremendously towards the regional market growth. The U.S. is projected to be key regional revenue driver of the North American market during the forecast timespan.

This report segments the Telepathology service market as follows:

Global Telepathology Service Market: By Systems Segment Analysis

Dynamic
Hybrid
Static

Global Telepathology Service Market: By Application Segment Analysis

Diagnosis
Research
Education
Others

Global Telepathology Service Market: By End-User Segment Analysis

Hospitals
Research Organizations
Diagnostic Centres & Pathology Clinics
Academic Institutes
Pharmaceutical & Biotech Firms

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Source: EIN Presswire