A comprehensive overview of the global anatomic pathology market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the anatomic pathology markets globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the global market at regional and country levels. The global anatomic pathology market is likely to showcase a robust growth of around 6% during the forecast period (2022-2028).
Market Overview
The anatomic pathology market is expected to register strong growth during the forecast period owing to the high prevalence of cancer and other associated chronic diseases coupled with the growth in the geriatric population and the stringent government regulations coupled with the growing focus of major stakeholders in the healthcare industry to adopt to make products and services more sustainable and eco-friendlier. Major healthcare companies are investing heavily in their products due to the rising prevalence of cancer, with the number of patients with chronic disease rising which includes the growth of cancer cases among the older population. As per the World Health Organization (WHO), cancer is the second leading cause of death worldwide and is responsible for around 9.6 million deaths in 2018. Thus, increase in the prevalence of cancer, there is increasing usage of advanced pathology equipment such as staining systems, gross imaging, and digital microscopes that are poised to improve anatomic pathological practices to some extent. Furthermore, various factors such as smoking, unhealthy diet, physical inactivity, and advancing age, increase the risk and diagnosis of such diseases. Therefore, the market for anatomic pathology devices is expected to witness significant growth during the forecast period.
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COVID-19 Impact
The COVID-19 pandemic has adversely impacted the global anatomic pathology industry. Several countries enforced nationwide lockdowns as part of measures to limit the spread of the coronavirus. As a result, caused widespread disruption to cancer care the impact of which will be felt for years to come. This, in turn, many people with cancer to face many challenges during the pandemic, including delays in diagnosis and treatment. Moreover, despite the pressures of the COVID-19 pandemic, cancer care has continued to innovate and evolve. According to the WHO, globally, in 122 out of 163 countries, non-communicable disease services were disrupted, and 1 in 3 countries in the European region had partially or completely disrupted cancer services. These factors have positively impacted the anatomic pathology industry.
The global anatomic pathology market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product and Services, the market is primarily bifurcated into:
· Instruments
· Consumables
· Services
Based on the product and services, the market is classified into instruments, consumables, and services. The services category accounted for a significant share of the market. This is mainly due to the rising prevalence of critical illnesses that require immediate medical attention. The growth of this segment can be attributed to the drive to enhance technical capabilities and increase products and services. The continuous development of the new products due to technological advancements that will lead to the production of innovative instruments and procedures is likely to strengthen the market of the segment during the forecast period.
By Application, the market is primarily bifurcated into:
· Disease Diagnosis
· Drug Discovery and Development
· Others
Based on application, the market is categorized into disease diagnosis, drug discovery and development, and others. Among these, disease diagnosis is expected to witness the highest CAGR during the forecast period. This is mainly due to pathology protocols providing an opportunity for researchers to explore disease etiology and associated outcomes. However, the rising prevalence of chronic conditions along with the surging geriatric population is the major factor driving the disease diagnosis over the forecast period.
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By End User, the market is primarily bifurcated into:
· Hospitals
· Research Laboratories
· Diagnostic Laboratories
· Others
Based on the end-user, the market is categorized into hospitals, research laboratories, diagnostic laboratories, and others. Among these, the hospitals are expected to witness the highest CAGR during the forecast period. The hospitals are anticipated to grow at a rapid rate of high hospitalization of cancer patients, coupled with the increasing preference of consumers to get treatment in hospitals mainly due to the well-established healthcare infrastructure, and presence of highly skilled healthcare professionals and hospital-based pathological laboratories.
Global Anatomic pathology Market Geographical Segmentation Includes:
· North America
Ø United States
Ø Canada
Ø Rest of North America
· Europe
Ø Germany
Ø UK
Ø France
Ø Italy
Ø Spain
Ø Rest of Europe
· Asia-Pacific
Ø China
Ø Japan
Ø India
Ø Australia
Ø Rest of Asia-Pacific
· Rest of World
For a better understanding of the market adoption of the anatomic pathology industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Spain, and Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World. North America is expected to witness the highest CAGR during the forecast period on account of the growing incidence of cancer which causes death in countries like the U.S. and Canada. The growing implementation of digital pathology services with advanced imaging tools also significantly contributed to the considerable growth of the state in the U.S. anatomic pathology market. The Increase in awareness about anatomic pathology, health screening, and the rise in the patient base suffering from cancer in the U.S. is expected to drive the market in the region. As per the American Cancer Society (2021), 1 in 3 people will be diagnosed with cancer in their lifetime. Furthermore, many medical and pharmaceutical companies are headquartered in the region, which is now focusing on research and development and clinical research activity for the treatment of cancer. Thus, the increasing geriatric population and new product launches, and various developmental strategies and early diagnoses adopted by the regional market will drive market growth.
The major players targeting the market include:
· F. Hoffman-La Roche Ltd.
· Danaher corporation
· Thermo Fisher Scientific
· BioGenex Laboratories
· Hologic Inc.
· Agilent Technologies
· Becton, Dickinson and Company
· Sakura Finetek USA Inc.
· Merck KGaA
· Bio SB.
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global anatomic pathology market. The major players have been analyzed by using research methodologies for getting insight views on market competition.
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Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the global anatomic pathology market?
· Which factors are influencing the global anatomic pathology market over the forecast period?
· What are the global challenges, threats, and risks in the global anatomic pathology market?
· Which factors are propelling and restraining the global anatomic pathology market?
· What are the demanding global regions of the global anatomic pathology market?
· What will be the market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by the companies?
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