PRESS RELEASE: Scientific Advancements of the Medical Industry in China to Wield Significant Growth Prospects for Digital Pathology
With appliances and software that provide direct exposure to electronic healthcare records, radiology images, and other documentation, artificial intelligence in digital pathology can convert the patient experience and enables individuals to actively participate in the treatment method, which is anticipated to boost the Chinese digital pathology market over the coming years. Furthermore, unhealthy eating habits, smoking cigarettes, excessive drinking, and insufficient physical activity are among the foremost non-communicable diseases caused by modifiable behavioral risk factors; demographic characteristics such as urban development, population aging, and the requirement for higher-quality health coverage are also expected to influence to the market in China.
Pathology in China faces two major challenges: an enormous supply and demand disparity for pathologists, and an inadequate supply of experts.
As a consequence of the COVID-19 pandemic, lockdowns and social distance restrictions have been incorporated. These constraints have elevated demand for digital pathology systems, which enable pathologists to view diagnostic results and remote monitoring for initial diagnosis. Furthermore, the aspiration for faster diagnostic tools for chronic illnesses like cancer, as well as a greater reliance on improving operational efficiencies, have been major indicators of the Chinese digital pathology market.
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Population expansion will boost demand for medical systems all across the country, enhancing China’s digital pathology. Unserved demand in healthcare systems will provide an incentive for the introduction of digital healthcare applications and EHR. Furthermore, the emergent change in China’s eHealth industry is due to the increasing trend of telehealth and mobile health.
Key Takeaways
Demographic trends such as urbanization, population aging, and elevated demand for higher-quality healthcare all contribute to market growth.
The infiltration of medical equipment such as digital pathology and point-of-care equipment into China is relatively low, implying that the Chinese digital pathology market has a lot of space for development.
Government initiatives to promote technological breakthroughs and the increasing utilization of digital imaging have aided market growth in this country.
Competitive Landscape
Digital imaging techniques vastly increased the adoption of sophisticated tech, and the appearance of established companies in the region offers manufacturers significant opportunities to build market-leading products. A substantial portion of the Chinese economy is dedicated to healthcare study and development. Companies are offering diagnostic products in order to concentrate on product innovation. A number of players in the digital pathology market are engaged in global expansion, as well as the acquisition of new technologies and the expansion of their reach in the country.
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Recent Developments
Grundium, a global leader in advanced imaging technology, provides digital pathology and the best professional diagnostic testing for all life, whether human, animal, plant, or other. The Tampere-based company, founded in 2015 by ex-Nokia engineers, is democratizing digital pathology with its Ocus® microscope scanners.
Visiopharm, a leader in AI-based digital pathology, and JiNan Danjier Electronics Co., Ltd, an independent R&D, manufacturing, sales, and support company for healthcare, which is the exclusive vendor of 3DHistech automated analysis products in China, have declared a cooperation agreement to provide Visiopharm’s digital pathology analysis software throughout China.
KfBio, a provider of integrated intelligent pathology solutions, has accomplished a CNY 100 million Series C round of investments. WisdoMont Capital Management prompted this funding round
