Anatomic Pathology Market Insights, Share, Growth Drivers and Forecast Report 2024

Anatomic Pathology Market

New York, United States, 2019-Jul-17 — /EPR Network/ — The global anatomic pathology market is expected to generate $24.3 billion revenue by 2024. Increasing incidence of chronic diseases, advancements in technologies, and rising geriatric population are some of the key drivers propelling the market growth.

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The APAC anatomic pathology market is expected to witness the fastest growth, propelling at a CAGR of 6.7% during the forecast period. The growth is mainly attributed to acceptance of personalized medicine, investment in diagnostic research by government and non-government organizations, increasing patient pool suffering from chronic ailments, and penetration of established players in the region.

Increasing penetration of international players is helping in offering innovative and advanced anatomic pathology instruments and consumables in APAC. For instance, in January 2019, Biocartis Group NV collaborated with Nichirei Bioscience, one of the leading suppliers of biological and diagnostics products in Japan, for the product registration and exclusive distribution of Biocartis’ molecular diagnostic (MDx) oncology tests in Japan, which perform on the fully-automated sample-to-result Idylla platform. Under the terms of the agreement, Nichirei Bioscience will seek the regulatory approval of Idylla MDx oncology tests from the Japanese Ministry of Health, Labor, and Welfare. After the successful registration, Nichirei Bioscience’s sales force has planned to distribute Biocartis’ Idylla platform across its commercial network of 2,000 pathology laboratories in Japan.

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The players in the anatomic pathology market are coming up with innovative solutions to enhance their market presence. For instance, in February 2019, Quest Diagnostics Incorporated, a U.S.-based provider of diagnostic information services, acquired the clinical laboratory services business of Boyce & Bynum Pathology Laboratories (BBPL), a leading provider of diagnostic and clinical laboratory services in the Midwest. The acquisition aims at bringing a wider menu of innovative clinical laboratory and anatomic pathology services to patients and providers throughout the region.

Thermo Fisher Scientific Inc., NeoGenomics Laboratories Inc., PHC Holdings Corporation, Quest Diagnostics Incorporated, Agiliti Technologies Inc., Sakura Finetek USA Inc., and Origene Technologies Inc. are some of the key players operating in the global anatomic pathology market.

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