Market Drivers and Key Barriers
The renewed focus on anatomic pathology is linked to a deeper focus on better understanding bodily functions as well as the impact of various diseases on the body. Market reports associated to the healthcare industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is projected to earn about USD 22 billion approximately in the duration of the forecast period.
Other than the growing prevalence of chronic diseases, the increasing spending on healthcare, the mushrooming elderly populace, and the increasing use and effectiveness of biomarkers to diagnose diseases will lead the Anatomic Pathology Market position to skyrocket in the future. Additionally, consistent advancements on the technological front are resulting in the development of highly sophisticated anatomic pathology methods, leaving a copious effect on the market. This is especially common in developed countries, which shell out substantial amounts on research and development for disease diagnosis and treatment. However, the developing nations cannot be discounted when it comes to making efforts, as is evident from the rising initiatives by governments for elevating the awareness about latest technologies.
The renowned companies shaping the anatomic pathology market include VolitionRx. e t, Danaher, Roche Diagnostics, Epic Sciences, Omnyx, Agilent Technologies, Agendia, SAKURA FINETEK USA, Abbott Diagnostics, AutoGenomics, Tecan, Advanced Cell Diagnostics, Thermo Fisher Scientific, Abcam, Monogram Biosciences, Nucleix, CellMax Life, Digipath, Biocare Medical, AdnaGen, Angsana Molecular & Diagnostics Laboratory, Enzo Biochem, Cancer Genetics, Biocartis, RareCyte, Oxford Cancer Biomarkers, Janssen Diagnostic, and others.
The anatomic pathology market is segmented on the basis of type, region, and application. On the basis of type, the market is segmented into consumable, instruments, and services. On the basis of application, the market is segmented into disease diagnostic for diseases such as lymphoma, cancer and others, drug discovery and developments. The market segmentation on the basis of end users comprises of clinical office laboratories, hospitals, physician office laboratory, and others. The regions that are a part of the market are Middle East, North America, Asia Pacific, Europe, and Africa.
Sep 2018 Quest Diagnostics has acquired PhenoPath, a US -based specialized anatomic pathology provider, PhenoPath will operate as part of AmeriPath, a wholly owned Quest pathology services business. Its services, together with molecular oncology, will supplement Quest’s own Advanced Diagnostics portfolio.The transaction is also likely to deepen Quest Diagnostics’ presence in Pacific Northwest. The PhenoPath business will function as part of Quest Diagnostics’ wholly owned business, AmeriPath, an important provider of AP services.
March 2019: Inspirata Inc. entered a collaboration with OSUCCC-James, which entails scanning more than one-million anatomic pathology slides into sharp resolution whole slide digital images. With this, it has been proved that there is a possibility to create big repositories of diagnostic quality.
The geographical dissection of the anatomic pathology market covers the key regions of the Middle East and Africa, Asia Pacific, Europe, and North America.
North America rose to prominence in the global market in 2016, accounting for the maximum share in it. The region’s dominance is mostly the result of the huge large pool of elderly that are extremely susceptible to a number of diseases coupled with the increasing occurrence of chronic diseases. A first-rate healthcare infrastructure complemented by cost-effective, yet quality treatment options depict the region’s high caliber in the global space.
In Europe, the growing prevalence of chronic diseases, burgeoning aging population, increasing acceptance of personalized medicine, massive academic and government investments for research, and the existence of a huge number of renowned players within the region are expected to steer the anatomical pathology market to greater heights in the near future.
Making similar strides in the global anatomic pathology market, the Asia Pacific market thrives on the back of various emerging nations like India, China, and Japan. Other equally important factors supporting the regional market growth include the humungous population, the growing prevalence of chronic diseases in many countries, elevating standards of living; rising demand for quality medical care and the surge in healthcare spending as well as government initiatives. The growth in the awareness regarding the use of anatomic pathology tests among physicians along with the hike in the demand for diagnostics is prompting the market growth to a large extent.
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