by The Anatomic Pathology Market is estimated to be valued at US$ 30.16 Bn 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:
Anatomic pathology involves the gross and microscopic examination of organs, tissues, cells, and bodily fluids to help diagnose and classify diseases accurately. It provides crucial information about prognosis and potential treatment options through histopathological examination and molecular testing. Key products in this market include instruments, consumables, and services. Instruments comprise tissue processors, slide stainers, microtomes, and other equipment used for tissue processing and diagnosis. Consumables include reagents, probes, disposables, and others. Services include non-clinical as well as clinical aspects of pathology testing.
Market Dynamics:
The Global Anatomic Pathology Market is primarily driven by the increasing burden of cancer globally and the need for early and accurate cancer diagnosis. According to the World Health Organization (WHO), cancer accounted for nearly 10 million deaths in 2020 worldwide. Early detection significantly improves survival rates, and anatomic pathology tests play a crucial role in cancer screening and diagnosis. Furthermore, improvements in healthcare infrastructure, increasing public-
SWOT Analysis
Strength:
– Growing prevalence of chronic diseases such as cancer is increasing demand for anatomic pathology services.
– Technological advancements in digital pathology devices and integration of AI/ML are streamlining workflow and improving accuracy of diagnosis.
– Presence of large multinational companies with widespread distribution networks and R&D capabilities.
Weakness:
– Shortage of pathologists globally due to less focus on pathology education programs.
– High setup and maintenance cost of digital pathology devices limiting adoption in low resource settings.
Opportunity:
– Emerging economies in Asia Pacific and Latin America regions offer huge untreated patient pool and growth opportunities.
– Adoption of advanced technologies like multiplex assays and spatial profiling expanding applications into therapeutic area.
Threats:
– Stringent regulatory approvals and quality control standards increasing compliance burden on manufacturers.
– Threat from free open source digital pathology software limiting premium pricing of proprietary products.
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 such as cancer. The market size is estimated to reach US$ 52.99 billion by 2030 from US$ 30.16 billion in 2023.
Regional analysis
North America dominated the global market in 2023, accounting for over 38% of the global revenue, owing to presence of major players, rising healthcare expenditure, and growing prevalence of chronic diseases in the region. Asia Pacific is expected to exhibit fastest growth during the forecast period driven by expanding patient pool, rising medical tourism, and increasing healthcare investments in countries such as China and India.
Key players
Key players operating in the Anatomic Pathology market are Thermo Fisher Scientific, F. Hoffman-La Roche AG, Agilent Technologies, Danaher Corporation, Quest Diagnostics, Inc., Biocartis NV, and Sakura FineTechnical Co., Ltd. Thermo Fisher Scientific and F. Hoffman-La Roche AG cumulatively hold over 35% of the global market share. These players are focusing on new product launches and geographic expansion to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
