New York, Nov. 02, 2021 (GLOBE NEWSWIRE) -- Anatomic Pathology Market: Key Insights
According to our new research study on Anatomic Pathology Market Size and Forecast to 2028 - COVID-19 Impact and Global Analysis By Product and Service (Instruments, Consumables, and Services), Application (Disease Diagnosis, Drug Discovery and Development, and Others), and End User (Hospitals, Research Laboratories, Diagnostic Laboratories, and Others) and Geography.
| Report Coverage | Details |
| Market Size Value in | US$ 21,488. 41 million in 2021 |
| Market Size Value by | US$ 33,145.78 million by 2028 |
| Growth Rate | CAGR of 6.4% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 220 |
| No. Tables | 139 |
| No. of Charts & Figures | 72 |
| Historical Data Available | Yes |
| Segments Covered | Product and Service, Application, End User, and Geography |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country Scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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The increase in the prevalence of cancer and other diseases, and growing focus on personalized medicines are boosting the anatomic pathology market growth. However, the lack of skilled professionals and stringency of government regulations hamper the growth of the market. On the other hand, a rise in number of clinical trials for anticancer drugs is expected to offer significant growth opportunities to the market players to capitalize and expand their customer base in Asia and Latin America.
Anatomic Pathology Market: Competition Landscape and Key Developments
F. Hoffmann-La Roche AG, Danaher, Hologic, Inc, Agilent Technologies Inc, BioGenex, Diapath S.p.A, Bio SB, Merck KGaA, BD, and PHC Holdings Corporation are among the key companies operating in the anatomic pathology market. Leading players focus on expanding as well as diversifying their market presence and acquiring new customer base, thereby tapping prevailing business opportunities.
In September 2021, F. Hoffmann-La Roche opens access to pathology imaging tools to improve patient care. The Digital Pathology Open Environment was launched by Roche to encourage software developers to collaborate in order to enhance patient outcomes and increase personalised healthcare through novel image analysis technologies.
In March 2021, Agilent Technologies Inc. acquired Resolution Bioscience. Resolution Bioscience Inc. has been acquired by Agilent Technologies Inc. in a formal agreement. Agilent's capabilities in NGS-based cancer diagnostics will be bolstered by the acquisition, which will give the business with cutting-edge technology to better serve the fast-growing precision medicine sector.
In January 2021, Hologic Inc, announced the acquisition of Biotheranostics, a leader in molecular tests for breast and metastatic cancers, for ~US$ 230 million.
In 2020, North America dominated the anatomic pathology market. The US holds the largest share of the market in this region. The market growth in the country is attributed to the rapidly increasing incidence of chronic diseases. Cancer has a major impact on society in the US. Breast cancer, lung and bronchus cancer, prostate cancer, colon and rectum cancer, and liver cancer are a few of the common cancer types in the country. As per the National Cancer Institute, as of January 2019, there were ~16.9 million cancer patients in the US. The number of cancer survivors is projected to reach 22.2 million by 2030. Moreover, according to a study published by the Centers for Disease Control and Prevention in 2020, ~34.2 million Americans were suffering from diabetes in 2018. A higher incidence of diabetes is observed in American youth.
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In recent years, there has been unprecedented growth in innovative and improved medical technologies. This growth resulted in the development of advanced medical devices. Players operating in the US anatomic pathology market continuously focus on the development of instruments and consumables for anatomic pathology. For instance, in 2018, Sakura Finetek USA, Inc. commercially launched American-made Accu-Cut SRM 300 LT, a manual microtome with innovative features, which was designed to make paraffin-embedded tissue samples much easier to see and safer to section. In 2020, F. Hoffmann-La Roche received the US Food and Drug Administration (FDA) approval for the expanded use of the CINtec PLUS Cytology test to aid clinicians in preventing cervical cancer. Thus, factors such as the high prevalence of chronic diseases, the strong presence of several major players, and the availability of high-quality infrastructure for hospitals and clinical laboratories drive the growth of the anatomic pathology market in the US.
Increase in Prevalence of Cancer and Other Diseases in Anatomic Pathology Market:
Anatomic pathology is useful in identifying abnormalities that can help diagnose diabetes, and kidney and liver diseases, among others, as well as manage treatments. It is frequently used to diagnose and treat various types of cancers. Histopathology, which involves studying tissue changes caused by diseases, is a vital part of anatomic pathology. Cancer has a major impact on society across the world. The burden of cancer on healthcare systems is significantly increasing worldwide as it is among the leading causes of death. According to the National Cancer Institute, in 2018, there were 18.1 million new cases and 9.5 million people died from the disease worldwide. The number of new cancer cases per year is expected to rise to 29.5 million, while the number of cancer-related death is likely to hike up to 16.4 million by 2040. ~30% of all premature deaths from noncommunicable diseases among adults aged 30–69 are caused because of cancer. Lung cancer is the most frequently diagnosed cancer in the world.
The prevalence of diabetes is growing, especially in the world’s middle-income countries, due to increase in overweight, obesity, and unhealthy diet. Overweight and obesity are among the prime most risk factors causing Type 2 diabetes. According to the IDF Diabetes Atlas Ninth Edition, in 2019, ~463 million adults, from the age range 20–79 years, were living with diabetes; and this number would rise to 700 million. Owing to the increasing prevalence of cancer and other diseases, government agencies, healthcare providers, and institutions are being compelled to contribute toward disease diagnosis and treatment initiatives. Thus, a surge in the prevalence of cancer and other targeted diseases is driving the global anatomic pathology market growth.
Anatomic Pathology Market: Segmental Overview
The anatomic pathology market, based on product and service, is segmented into instruments, consumables, and services. The services segment is expected to hold the largest share of ~40.04% of the market in 2021. Based on application, the anatomic pathology market has been segmented into disease diagnosis, drug discovery and development, and others. The disease diagnosis segment is likely to account for the largest market share in 2021. However, the drug discovery and development segment is expected to register the fastest CAGR in the market during the forecast period. Based on end user, the anatomic pathology market has been segmented into hospitals, research laboratories, diagnostic laboratories, and others. The hospitals segment is expected to hold the largest share of the market in 2021. However, the diagnostic laboratories segment is expected to register the highest CAGR during 2021–2028.
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The COVID-19 outbreak, and the subsequent redirection of healthcare resources, have impacted every aspect of the diagnostics industry, including the anatomic pathology market. The shutdown of clinics, operation rooms, and physicians’ offices, and the “stay-at-home” mandates severely impacted the submission of specimens for pathology evaluation in laboratories. Although emergency and OPD services were available in hospitals, the number of patient visits to hospitals has reduced significantly since the pandemic begin. Further, as most hospitals invested their efforts and resources in diagnosing and treating COVID-19, many planned surgeries were canceled or delayed. As a result, various early cancer detection systems were deactivated, and all autopsies were suspended. This situation weakened the medical care of patients with illnesses other than COVID-19, including patients with chronic diseases and cancer, or those awaiting organ transplantation. Consequently, the number of surgical pathology and cytology samples received in anatomic pathology labs reduced significantly.
Key Questions to Request for Anatomic Pathology Market:
- What are anatomic pathology?
- What are the driving factors for the anatomic pathology market across the globe?
- Which product and service led the anatomic pathology market?
- Which application held the largest share in the anatomic pathology market?
- Which end-user held the largest share in the anatomic pathology market?
- Who are the key players in the anatomic pathology market?
- What is the regional market scenario of anatomic pathology?
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