Report ID: SQSG35D2040 | Region: Global | Published Date: November, 2022 | Pages: 157
Global Telemedicine Technologies MarketReport ID: SQMG35D2044 | Region: Global | Published Date: November, 2022 | Pages: 157
Global anatomic pathology market was valued at USD 35.2 billion in 2021 and it is expected to reach a value of USD 56.15 billion by 2028, at a CAGR of 6.9% over the forecast period (2022-2028).
An extensive rise in the use of clinical biomarkers to determine diseases pathogenesis at very molecular level enables the pathologists to enhance clinical decision making and improve patient outcomes are the factors anticipated to drive the growth of the global anatomic pathology market over the forecast period. Furthermore, the rising prevalence of biomarker-based pathology tests and further procedures for the exploration of malignancy and tumorigenesis is also driving the global demand and growth for anatomic pathology in the coming years.
Moreover, high usage of advanced technology in pathology equipment such as staining systems, digital microscopes, and gross imaging and adoption of these technologies in developing countries such as India and China are expected to foster market growth during the forecast period. Additionally, several major companies are focusing on development and improvement of pathology devices along with the design and ease of use. For instance, in May 2021, OptraSCAN, a leading pathology solutions provider introduced its new and advanced CytoSiA-an intelligent solution for fast scanning, analysis of pap smears, and at an affordable cost.
In addition, various business partnerships, collaborations, and agreement ventures among key market players for the introduction to new and innovative products and expanding their product portfolio are also projected to fuel the demand for global anatomic pathology market during the forecast period. For instance, in April 2021, Royal Philips announced its collaboration with Ibex Medical Analytics, an AI-based cancer diagnostics service provider. The main aim behind this collaboration is to boost the adoption and implement of AI-based pathology across the globe.
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Global anatomic pathology market is segmented on the basis of product and service, application, end-user, and region as well. By product and service, the market is sub-segmented into consumables, instruments, and services. By application, the market is bifurcated into disease diagnosis and medical research. By end-user, the market is categorized into hospitals, clinics, and others. By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Analysis by Application
By application, the disease diagnosis segment held the largest market share in 2021. Wide applications of anatomic pathology in disease diagnosis and continuously rising prevalence of various chronic disorders like cancer are the major factors driving the segment growth. In addition, a surge in geriatric population and increasing focus by major players on the introduction of new and innovative diagnostics techniques are further anticipated to boost the demand for anatomic pathology in the coming years. For instance, according to the World Health Organization, 122 out of 163 countries globally, were disrupted with non-communicable diseases, and in 1 in 3 countries in the Europe region had completely or partially disrupted with cancer services. Thereby, the demand for anatomic pathology in these regions is likely to have a significant boost in the coming years.
Analysis by End-User
By end-user, the hospital segment held the largest market share in 2021 and witnessing a strong growth rate during the forecast period and is expected to maintain its dominance throughout the forecast period. High hospitalization rate of various types of patients along with a substantial number of frequent readmissions in hospitals across the globe is a major factor projected to dive the segment growth. In addition, presence of highly developed healthcare infrastructure and well-trained staff in pathological laboratories in the hospitals especially in developed nations such as United States, France, and Japan are further expected to stimulates the growth of the segment.
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Globally, North America dominated the anatomic pathology market and accounted for the largest market share in 2021 and its set to continue this dominance throughout the forecast period. Increasing implementation of digital pathology, early adoption of advanced imaging tools, and rising consumer awareness regarding regular health screening are the few major factors likely to drive the growth of the market in the region over the coming years. In addition, presence of many well-known market players such as Pfizer Inc., Johnson & Johnson Pvt Ltd., and Abbott Laboratories in the region is also propelling the growth of the anatomic pathology market.
Furthermore, Asia Pacific region is witnessing a significant growth rate during the forecast period. The growing geriatric population, increasing adoption of highly advanced technology mainly in developing countries such as India, China, and Indonesia, and rising consumer disposable income are the major factors likely to boost the growth of the market in the region over the next coming years. In addition, increasing development of healthcare infrastructure in the region by the construction of highly advanced hospitals is also anticipated to impact the demand for anatomic pathology positively.
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Drivers
Restraint
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Global anatomic pathology market is fairly consolidated with the presence of many well-known international and regional companies operating around the globe. Major players of the market are implementing on several business strategies including research & development, new product launches, collaborations, mergers, and partnerships to maintain their market share and expand their product portfolio to reach a wider consumer base.
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According to our analysis, the global anatomic pathology market is anticipated a strong growth during the forecast period owing to the rise in the number of cancer cases, growing government investments for improving healthcare, and increased per capita income among global consumers. In addition, increasing population around the globe especially in Asia Pacific region coupled with the rise in numbers of hospitalized patients, are further anticipated to propel the market growth. However, some complications associated with anatomic pathology such as decreased staffing flexibility and lack of access in low and medium-sized economies are likely to hinder the growth of the global market during the forecast period.
Report Metric | Details |
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Market size value in 2021 | USD 35.2 billion |
Market size value in 2028 | USD 56.15 billion |
Growth Rate | 6.9% |
Base year | 2021 |
Forecast period | 2022-2028 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Anatomic Pathology Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Anatomic Pathology Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Anatomic Pathology Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Anatomic Pathology Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
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Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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