Global Anatomic Pathology Market is expected to foresee significant growth. APAC to lead the growth!
- Vikas Kumar
- August 13, 2022
- HEALTHCARE, NEWS
- Anatomic Pathology Market, Anatomic Pathology Market Forecast, Anatomic Pathology Market Growth, Anatomic Pathology Market News, Anatomic Pathology Market Share, Anatomic Pathology Market Size, Anatomic Pathology Market Trend
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Global anatomic pathology market is expected to register a CAGR of around 6% over the period of 2022-2028. This is mainly due to the rising incidence of cancer, and biomarkers used by pathological laboratories which detect & track infections and disease progression during diagnostic procedures 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 pharmaceutical companies are investing heavily in their products due to the rising prevalence of chronic diseases, awareness of diagnosis, and the growing geriatric population. According to Union for International Cancer Control (UICC), The world’s population is aging rapidly. There are currently over 703 million people worldwide above the age of 65 years, representing 9.1% of the global population. Furthermore, Population aging will have consequences for cancer control globally as cancer is more prevalent in older adults. Cancer can develop at any age, but the incidence of cancer rises dramatically at a later stage in life. Moreover, growing dependence on biomarkers-based pathology procedures and tests to discover tumorigenesis and common malignancy is also driving the market. Therefore, the market for anatomic pathology is expected to witness significant growth during the forecast period.
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Based on the product and services, the services category accounted for a significant share of the market. This is mainly due to the presence of a wide range of products and the increasing focus on personalized medicine and a significant number of encouraging programs and teaching modules by the government. Thus, the increasing geriatric population and new product launches, and various developmental instruments adopted by the market will drive market growth.
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 the detection of a tumor at the inflammatory and proliferating stromal cells stage, thus minimizing costs associated with tumor eradication. Early disease diagnosis may lead to more medications or longer survival. Moreover, Anatomic pathology involves the visualization of human tissue under a microscope for an appropriate diagnosis of the disease or a pathological condition.
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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 and chronic disorders in countries like the U.S. and Canada. The rising clinical research activity and new product launches, easy accessibility to advanced technologies, government initiatives for screening cancer patients, and favorable reimbursement scenario for anatomic pathology diagnostic tests, owing to the presence of well-established market players and frequent product launches in the region. According to Pan American Health Organization (PAHO), In Latin America and the Caribbean, it is estimated that at least 29,000 children and adolescents under 19 years old will be affected by cancer each year. Of them, around 10,000 will die due to this disease. Furthermore, the increased consumer awareness regarding the availability of various anatomic pathology and cancer treatments will drive market growth.
Some of the major players operating in 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.
Global Anatomic Pathology Market Segmentation
Market Insight, by Product and Services
Market Insight, by Application
• Disease Diagnosis
• Drug Discovery and Development
Market Insight, by End User
Market Insight, by Region
- North America
- Rest of North America
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
• 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.