According to the new market research report “Anatomic Pathology Track and Trace Solutions Market by Product (Software, Hardware (Printer & Labeling Systems), Consumables), Technology (Barcode, RFID), Application (Tissue Cassette, Slide Tracking), End User (Hospital Labs) – Global Forecast to 2023”, published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities.
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Objectives of the Study
• To define, describe, and forecast the anatomic pathology track and trace solutions market on the basis of product, technology, application, end user, and region
• To provide detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
• To analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
• To forecast the size of the anatomic pathology track and trace solutions market with respect to North America, Europe, Asia Pacific, and the Rest of the World
• To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To profile the key players in the anatomic pathology track and trace solutions market and comprehensively analyze their core competencies
• To track and analyze competitive developments such as R&D activities; product launches; acquisitions; expansions; and collaborations, agreements, and partnerships of the leading players operating in the anatomic pathology track and trace solutions market
In this report, the anatomic pathology track and trace solutions market is segmented based on product, technology, application, end user, and region. Based on product, the market is segmented into software, hardware, and consumables. In 2018, the software segment is expected to account for the largest share of this market. This can majorly be attributed to the growing need to automate the sample labeling process for reducing manual errors, increasing focus on improving the efficiency of anatomic laboratories, growing adoption of cloud-based LIMS, and the increasing workload in anatomic pathology laboratories.
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The global anatomic pathology track and trace solutions market is projected to reach USD 695.7 million by 2023 from USD 424.2 million in 2018, at a CAGR of 10.4%. The increasing volume of diagnostic tests performed in anatomic pathology laboratories, rising number of legal cases around cancer misdiagnosis, benefits of automated labeling solutions, increasing consolidation among anatomic pathology laboratories, and the growing adoption of automated systems to enhance the efficiency of laboratories are the major factors driving the growth of this market. However, the high cost associated with the implementation of track and trace solutions in anatomic pathology laboratories is expected to restrain the growth of this market during the forecast period.
On the basis of technology, the anatomic pathology track and trace solutions market is segmented into barcode and RFID. In 2018, the barcode segment is expected to account for a larger share of the market majorly due to the higher adoption of barcode systems among end users owing to their lower cost (as compared to RFID).
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Based on application, the anatomic pathology track and trace solutions market is segmented into slide tracking, tissue cassettes and blocks tracking, and specimen tracking. The slide tracking segment is estimated to register the highest CAGR during the forecast period primarily due to the implementation of tracking systems for reducing specimen identification errors and increasing workflow efficiency in anatomic pathology laboratories.
Based on end user, the anatomic pathology track and trace solutions market is segmented into hospital laboratories, independent and reference laboratories, and other end users (contract research organizations, government-funded medical laboratories, and research institutes). The independent and reference laboratories segment is estimated to register the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing number of cancer diagnostic tests performed in independent and reference laboratories and the increasing number of large-sized reference laboratories across the globe.
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