Global Digital Pathology Market (COVID - 19 Updates)Â https://www.databridgemarketresearch.com/ covid-19-resources/covid-19-impact-on-dig ital-pathology-in-the-healthcare-industry
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Digital pathology market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses the market to account to USD 1,460.83 million by 2027 growing at a CAGR of 13.25% in the above-mentioned forecast period. The rising prevalence of cancer diseases is going to help in driving the growth of the digital pathology market.
FOLLOWING IN THE MIDST OF THE CRISIS
Late in March 2020, pathologist requirements for complex and time-consuming validation requirements set out in the Clinical Laboratory Improvement Amendment to read cases at home, the Centers for Medicare & Medicaid Services (CMSA) were temporarily waived. This fundamental change makes pathologists work virtually much more practical. This also poses a significant question: is pathology remote research to remain? Pathology ecosystems have always been facing challenges thrown by scarce resources, creating pressure to consistently deliver quality patient care. To add to this trying situation, the pandemic has generated an influx of cases to be handled – with a quicker turnaround. This in turn has pushed pathologies to scale back on non-emergency or elective procedures. However, initial detection and diagnosis of several chronic diseases, including cancers, cannot be compromised on even in this crisis.
IMPACT AND STRATEGY ď ˝
The growth of this market is majorly attributed to the increasing adoption of digital pathology to enhance lab efficiency, rising prevalence of cancer, and the growing application of digital pathology in drug development & companion diagnostics. However, a lack of trained pathologists is expected to challenge market growth in the coming years. North America accounted for the largest share of the digital pathology market. The large share of this region in the global digital pathology market can be attributed to the increasing prevalence of cancer, rising demand for quality diagnostics, the introduction of favorable reimbursement policies, and the implementation of favorable initiatives by the government in the US and Canada. The North American market is also expected to grow at the highest rate during the forecast period.
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