Anatomic Pathology Market : Increasing number of clinical trials pertaining to cancer drugs

Pune, India, 2020-Oct-16 — /EPR Network/ —

The growth in anatomic pathology market is majorly driven by the high incidence of cancer and other target diseases, availability of reimbursement, and the growing focus on personalized medicine. However, the availability of refurbished products, the lack of skilled professionals, and product recalls are expected to hamper the market growth to a certain extent during the forecast period.

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.

According to the new market research report by MarketsandMarkets, 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%.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=137323145

By product & service, the anatomic pathology market is segmented into services, instruments, and consumables. The services segment accounted for the largest market share in 2019 and is expected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to the availability of reimbursements for diagnostic tests, rapid growth in the geriatric population, and the increasing incidence of cancer and other chronic diseases.

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.

The R&D expenditure in Asia was estimated at USD 955 billion in 2018, which accounted for a share of 43.6% of the global R&D expenditure. China’s R&D investments increased by 6.7% to USD 475 billion in 2018 (Source: R&D Magazine, 2018). This factor is indicative of the high growth potential of emerging markets. As a result, a number of players in the anatomic pathology market are focusing on expanding their geographic presence by setting up new R&D and manufacturing facilities in developing countries.

North America is the largest market for anatomic pathology

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.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=137323145

Leading Key Players : 

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).