Anatomic Pathology Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Products & Services (Instruments, Consumables, Services); Application (Disease Diagnosis, Drug Discovery & Development, Others); End User (Hospitals, Research Laboratories, Diagnostic Laboratories, Others) and Region/Country
Detailed Analysis of COVID-19 Impact on the Anatomic Pathology Market
The global anatomic pathology market is experiencing significant growth due to the increasing geriatric population coupled with rising cancer, stepping growth on the support of extensive use of anatomic pathology for identifying and managing tumors that are growing at an alarming rate. For instance, In May 2021, Hologic received premarket approval (PMA) from the FDA for its ThinPrep GenesisTM processor for cytology processing and specimen transfer for downstream applications. The launch of the ThinPrep Genesis processor shows our continued commitment to improving the testing experience for our laboratory partners and, ultimately, helping them and clinicians deliver accurate results. Thus, the latest approval will boost Hologic’s diagnostics solutions offering with the growing focus on technology and increase the accuracy of cervical cancer screening used by laboratories which gives detailed information about patients. Therefore, the market for anatomic pathology is expected to witness a significant CAGR of 6.45% during the forecast period.
The global anatomic pathology market is expected to register a CAGR of around 6.45% from 2021 to 2027. This is mainly due 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. According to National Cancer Institute, The incidence rates for cancer overall climb steadily as age increases, from fewer than 25 cases per 100,000 people in age groups under age 20 to about 350 per 100,000 people among those aged 45–49, to more than 1,000 per 100,000 people in age groups 60 years and older. 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.
- 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 are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Product and Services, services category accounted for the majority share in the market in 2020”
Based on the product and services, the market is categorized 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. A substantial number of reagents and kits, antibodies, and probes are being marketed for anatomic pathology protocols. The growth of this segment can be attributed to the drive to enhance technical capabilities to offer anatomic pathological instruments with an improved design. For instance, in April 2020, Precisionary Instruments launched a CF-6100 cryostat. This cryostat promotes and supports tissue sectioning in dermatology, histology, and pathology. 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.
“Amongst Application, disease diagnosis is expected to witness highest CAGR during the forecast period”
Based on the 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. For instance, according to NCBI, Larger laboratories accessioning 20,000 or more specimens per year face a high rate of discrepancies as compared to those receiving less than 20,000 samples. The Rising cases of chronic disease and increasing requirements to address the timely diagnosis of medical conditions are driving the market. However, the rising prevalence of cancer along with the surging geriatric population is the major factor driving the disease diagnosis over the forecast period.
“North America to witness significant growth during the forecast period”
North America is expected to show the highest CAGR growth in the anatomic pathology market. The major contributors to the growth of this market are US and Canada. This is mainly due to the increasing 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 and various developmental strategies adopted by the regional market will drive market growth.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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- Deep dive regional level analysis of the industry.
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|2.1.||Research Process of the Anatomic Pathology Market|
|2.2.||Research Methodology of the Anatomic Pathology Market|
|5||GLOBAL ANATOMIC PATHOLOGY MARKET COVID-19 IMPACT|
|6||GLOBAL ANATOMIC PATHOLOGY MARKET REVENUE (USD BN), 2020-2028F|
|8.2.||Drug Discovery and Development|
|10.1.3.||Rest of North America|
|10.2.6.||Rest of Europe|
|10.3.5.||Rest of Asia-Pacific|
|10.4.||Rest of World|
|12||ANATOMIC PATHOLOGY MARKET OPPORTUNITIES|
|13||ANATOMIC PATHOLOGY MARKET TRENDS|
|14||POLICY & REGULATORY FRAMEWORK|
|15.1.||Demand Side Analysis|
|15.2.||Supply Side Analysis|
|16||VALUE CHAIN ANALYSIS|
|17.1.1.||Porter’s Five Forces Analysis|
|18.1.||F. Hoffman-La Roche Ltd.|
|18.3.||Thermo Fisher Scientific|
|18.7.||Becton, Dickinson and Company|
|18.8.||Sakura Finetek USA Inc.|
Research Methodology for the Global Anatomic Pathology Market Analysis (2022-2028)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global anatomic pathology market were the three major steps undertaken to create and analyze the adoption of anatomic pathology in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global anatomic pathology market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the anatomic pathology market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the anatomic pathology market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product and services, application, end-user, and region. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the anatomic pathology market. Further, we conducted factor analysis using dependent and independent variables such as product and services, application, end-user, and region of anatomic pathology. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Anatomic pathology market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global anatomic pathology market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast about 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of anatomic pathology market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global anatomic pathology market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global anatomic pathology market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product and services, application, end-user, and region in the global anatomic pathology market.
The main objective of the Global Anatomic pathology Market Study
The current & future market trends of the global anatomic pathology market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the anatomic pathology market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product and services, application, end-user, and region.
- Define and analysis of the regulatory framework for the anatomic pathology market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the anatomic pathology market for the major region.
- Major countries of regions studied in the report include North America, Europe, Asia Pacific, and the Rest of the world.
- Company profiles of the Anatomic pathology market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry