Anatomic Pathology Market Is Playing Vital Role in MedicalDevice Industry | Know The Business Opportunities
What the Anatomic Pathology Market Looks Like?
MarketsandMarkets forecasts The global anatomic pathology market size is estimated to grow from USD 33.3 billion in 2020 to USD 46.8 billion by 2025, at a CAGR of 7.1%. The base year for this study is 2017 and the forecast period is 2018–2023.
Globally, the COVID-19 outbreak has impacted every aspect of the diagnostics industry, including the anatomic pathology market. In the last few months, the number of patient visits to hospitals has reduced significantly, despite emergency and OPD services being available in hospitals. Cancer is a complex disease that develops through the multi-stage carcinogenesis process involving multiple pathways. As a result, there are various hurdles associated with cancer diagnosis, prognosis, and therapy. Histopathology is the microscopic study of diseased tissue.
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What Drives the Anatomic Pathology Market?
The growth of the global Anatomic Pathology Market is primarily influenced by the following factors:
- High incidence of cancer and other target diseases
- Recommendations for cancer screening
- Availability of reimbursement
- Growing focus on personalized medicine
Based on the application, the anatomic pathology market is segmented into disease diagnosis and medical research. The market for disease diagnosis is further segmented into cancer and other diseases. In 2019, the disease diagnosis segment accounted for the largest market share. This can be attributed to the rapid growth in the geriatric population and the increasing incidence of cancer and other chronic diseases.
- In March 2020, Sakura Finetek Launched four new ready-to-use antibodies for the Tissue-Tek Genie Advanced Staining System
- In September 2018, Sakura Finetek launched the Accu-Cut SRM 300 LT Manual Microtome.
- In 2018, F. Hoffmann-La Roche received the CE approval for its BenchMark ULTRA Plus Staining System.
- In March 2016, BD received FDA approval for its new automated cervical cancer screening systems, BD Totalys MultiProcessor and BD Totalys SlidePrep instruments
Based on the region, the global anatomic pathology market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2019, North America accounted for the largest market share, followed by Europe. The easy accessibility to advanced technologies, government initiatives for screening cancer patients, favorable reimbursement scenario for anatomic pathology diagnostic tests, increasing healthcare expenditure, and the presence of high-quality infrastructure for hospitals and clinical laboratories in the region are the major factors driving the growth of the anatomic pathology market in North America.
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Leading market players and strategies adopted
- Prominent players in the anatomic pathology market include F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (US), Hologic, Inc. (US), Agilent Technologies (US), Becton, Dickinson and Company (US), PHP Holdings Corporation (Japan), Sakura Finetek (Japan), Merck KGaA (Germany), Bio SB (US), Diapath S.p.A. (Italy), and BioGenex Laboratories (US).
- Hoffmann-La Roche Ltd. (Switzerland) is the leading player in the anatomic pathology market. The company offers a full range of consumables that are used for the diagnosis of various types of diseases, including cancers of the lung, breast, and blood. The company focuses on organic growth strategies to maintain its leading position in the market. For instance, in 2018, the company received CE approval for its BenchMark ULTRA Plus Staining System. Similarly, in April 2017, the company received FDA approval for its CINtec Histology test.