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(Health-NewsWire.Net, May 09, 2020 ) 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 and the increasing number of legal cases around cancer misdiagnosis are the key factors driving the growth of the anatomic pathology track and trace solutions market.
Research Methodology:
Top-down and bottom-up approaches were used to validate the size of the anatomic pathology track and trace solutions market and to estimate the size of other dependent submarkets. Various secondary sources, such as the Association of Anatomical Pathology Technology (AAPT), Anatomical Pathology Patient Interest Association, College of American Pathologists, Healthcare Information and Management Systems Society (HIMSS), American Health Information Management Association (AHIMA), American Cancer Society (ACS), GLOBOCAN, Centers for Disease Control and Prevention (CDC), National Institutes of Health (NIH), Cancer Research UK, World Bank, US Food and Drug Administration, American Society for Clinical Pathology, annual reports/SEC filings, investor presentations, press releases, white papers, journals/magazines, and news articles have been used to identify and collect information useful for the study of this market.
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Market Segmentation in Depth:
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.
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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The anatomic pathology track and trace solutions market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World. During the forecast period, the North American market is estimated to witness the highest growth. This can be attributed to the increasing volume of diagnostic tests performed in anatomic pathology laboratories, rising prevalence of chronic diseases (resulting in the increasing need for quality diagnostic services), and the presence of leading market players in the region.
Moreover, the need for automated labeling systems to reduce specimen identification errors is driving the demand for automated labeling systems in several anatomic pathology laboratories across North America.
Thermo Fisher Scientific (US), Leica Biosystems (US), and Ventana Medical Systems (US) dominated the global anatomic pathology track and trace solutions market in 2017. Some of the other players operating in this market are General Data Healthcare (US), Agilent Technologies (US), Sunquest Information Systems (US), Cerebrum Corp (US), AP Easy Software Solutions (US), Zebra Technologies Corporation (US), Primera Technology (US), and LigoLab (US).
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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