Anatomic Pathology Market – Forecast by 2025, Global Industry is Expecting to Grow at CAGR of 7.1%

Pune, India, 2020-Dec-09 — /EPR Network/ —

The growth in this 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.

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%.  Anatomic Pathology Market by Product & Service (Instruments (Tissue Processors, Microtome), Consumables (Antibodies), Histopathology), Application (Disease Diagnosis (Cancer (Gastrointestinal, Lung)), End User, Region.

COVID-19 Impact on Anatomic Pathology Market

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.

After commencing cancer surgeries or other surgeries, surgeons run through a series of pathology tests to decide the best treatment for patients. However, due to the lockdown in Q2 of many countries, elective and cancer surgeries have reduced significantly. For instance, according to the World Economic Forum, 28 million elective surgeries and 38% of global cancer surgeries have been delayed or postponed in Q2. As a result, the number of diagnostic tests has reduced.

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Driver: high incidence of cancer and other targeted diseases

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. It is a vital part of anatomic pathology since the accurate diagnosis of cancer and other diseases usually requires the histopathological examination of samples. This is an important indicator of market growth due to the rising prevalence and incidence of cancer globally.

Due to the increasing incidence of cancer, the demand for oncology diagnostics has increased significantly. This has compelled government organizations as well as healthcare providers and institutions to support disease diagnosis and treatment efforts.

OPPORTUNITY: Emerging Markets

Developing countries such as China, India, Brazil, and Mexico are expected to offer significant growth opportunities for players operating in the anatomic pathology market. The huge population base, especially in India and China, offers a sustainable market for anatomic pathology. Lifestyle changes and poor diets in these regions have resulted in an increase in the prevalence of chronic diseases such as cancer, CVDs, and autoimmune 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 e panding their geographic presence by setting up new R&D and manufacturing facilities in developing countries.

Region Covered in Anatomic Pathology Market :

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 Companies :

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.