 |
| Global Anatomic Pathology Market |
The global Anatomic Pathology Market is estimated to be valued at US$ 30.16 billion in 2023 and is
expected to exhibit a CAGR of 8.7% over
the forecast period 2023-2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
The anatomic pathology market involves diagnosis of diseases by examining the
tissue samples under microscope. This helps in pathological diagnosis of
diseases like cancer, infectious diseases, among others. Anatomic pathology
also helps doctors determine the appropriate treatment options for patients.
The key products in this market include instruments, consumables and reagents
which are used for tissue processing, embedding, microtome sectioning and slide
staining. The increasing prevalence of chronic diseases like cancer is driving
the demand for accurate disease diagnosis through anatomic pathology. This in
turn is fueling growth of the anatomic pathology market.
Market key trends:
One of the key trends in the anatomic pathology market is growing adoption of
digital and automated pathology solutions. Digital pathology involves
digitizing tissue slides which can be examined remotely by pathologists through
digital platforms. This offers advantages like remote consultation, ease of
storage and sharing. Automated solutions also help in digital scanning of whole
slide images at high magnification which reduces scanning time. Automated image
analysis further provides objective and quantitative measurements of biopsy
samples. The digital and automated solutions are enhancing workflow efficiency
in anatomic pathology and fueling revenue growth of key players.
Porter's Analysis
Threat of new entrants: The high establishment costs associated with an
anatomic pathology laboratory poses a barrier for new companies.
Bargaining power of buyers: Individual consumers have little bargaining power
as they have to rely on test results from anatomic pathology labs. However,
large healthcare providers and insurance companies can negotiate lower prices.
Bargaining power of suppliers: A few global companies dominate the supply of
instruments, reagents, and other consumables used in anatomic pathology
testing, giving them significant bargaining power over labs.
Threat of new substitutes: There are limited substitute tests for anatomic
pathology procedures which analyze tissues and cells to diagnose diseases.
Competitive rivalry: The anatomic pathology market is highly competitive with
the presence of several global players. Market consolidation is expected to
intensify competition.
Key Takeaways
The Global
Anatomic Pathology Market is expected to witness high growth,
exhibiting CAGR of 8.7% over the
forecast period, due to increasing prevalence of chronic diseases and cancer.
The market size for anatomic pathology was valued at US$ 30.16 billion in 2023. North America dominated the market owing
to the advanced healthcare infrastructure and rising healthcare expenditure in
the region. However, Asia Pacific is expected to grow at the fastest pace
during the forecast period driven by expanding healthcare facilities, growing
medical tourism, and rising patient awareness about disease diagnosis in
developing countries such as China and India.
Key players operating in the anatomic pathology market include Thermo Fisher
Scientific, F. Hoffman-La Roche AG, Agilent Technologies, Danaher Corporation,
Quest Diagnostics, Inc., Biocartis NV, and Sakura FineTechnical Co., Ltd. Major
players are focusing on new product launches, collaborations, and geographical
expansion strategies to expand their global footprint and leverage advanced
technologies. For instance, in February 2023, Roche launched VENTANA MMR RxDx
Panel to aid in the diagnosis of Lynch syndrome.
Read
More: https://www.trendingwebwire.com/anatomic-pathology-market-size-and-share/