The global anatomic pathology market size is expected to reach USD 23.3 billion by 2025, exhibiting a CAGR of 6.1% during the forecast period
NEW YORK, Aug. 19, 2019 /PRNewswire/ --
Anatomic Pathology Market Size ,Share & Trends Analysis Report By Application (Disease Diagnosis, Drug Discovery & Development), By Product & Services (Instruments, Consumables), By End Use, And Segment Forecasts, 2019 - 2025
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The global anatomic pathology market size is expected to reach USD 23.3 billion by 2025, exhibiting a CAGR of 6.1% during the forecast period. The advent of technology in instruments and protocols used during anatomic pathology is anticipated to increase the adoption rate of advanced anatomic pathological instruments.
Integration of medical informatics standards for meeting specific healthcare needs by enhancing efficiency and curbing costs is a factor driving the market.Market players are collaborating for refurbishment of pathology laboratories by incorporating innovative disease diagnostic models.
This, in turn, accelerates investments toward upgradation of pathological equipment.
In April 2018, Thermo Fisher and Leica Microsystems collaborated for the development of an integrated cryo-tomography workflow for research. Under this collaboration, the companies merged their existing technology to deliver enhanced user-friendly and reliable microscopic solutions, enabling researchers to gain insights about biological processes.
Pathology-training programs offered to pathologist trainees by public and private entities drive the anatomic pathology market. The Royal College of Pathologists, the General Medical Council, and the Association of Anatomical Pathology Technology are some organizations that have initiated several training programs and examinations to evaluate a pathologist's knowledge and skills.
Further key findings from the report suggest:
• Technological advancements in instruments to minimize the risk of errors through integration of novel design is expected to drive the segment to register the fastest growth rate
• High availability, low cost, and frequent purchase rate of consumables such as reagents and probes have attributed to the dominant revenue share of consumables
• Increased implementation of anatomic pathology procedures in research studies such as tumor examination and biomarker profiling has propelled the academic research segment
• Shifting paradigm from conventional medicine to personalized medicine has resulted in the fastest growth rate of the drug discovery and development application segment. This is primarily due to growing reliance on discoveries of putative biomarkers for development of personalized therapies
• Increase in hospitalization rate that stimulates the adoption of pathological workflows for disease monitoring and diagnosis has contributed to the largest share of hospitals
• On the other hand, growth of the diagnostic laboratories segment is facilitated by the use of state-of-the-art laboratory equipment and instrumentation, multiple electronic interfaces, and information systems
• Presence of key players like Thermo Fisher and Agilent, coupled with a large number of funding programs by public agencies, contribute to the largest share of North America
• Asia Pacific is expected to exhibit the fastest anatomic pathology market growth driven by the presence of multiple associations that are engaged in conducting pathology training programs
• Competitors are adopting strategic initiatives such as installation of products, agreement, and expansion of distribution channels to reinforce their market presence. For instance, in July 2018, Thermo Fisher installed its Krios Cryo-TEM electron microscope at the Institut Pasteur, which expanded the company's presence in France.
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