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(Health-NewsWire.Net, August 11, 2021 ) The Key Growth Elements in Detailed?
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.
Worldwide Growth Opportunities in Terms of Revenue:
The Global Anatomic Pathology Market size is projected to reach a value of USD 46.8 billion by 2025 from USD 33.3 billion in 2020, at a CAGR of 7.1% from 2020 to 2025.
Growth Driver: high incidence of cancer and other targeted diseases;
The 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.
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Regional Growth, Development and Demand Analysis:
The anatomic pathology market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2019, North America accounted for the largest market share, followed by Europe. The rising prevalence of chronic diseases, increasing healthcare expenditure, the high-quality infrastructure for hospitals and clinical laboratories, and the presence of major market players in the region are driving the growth of the anatomic pathology market in North America.
Major Key Players Mentioned in the research report are:
The prominent players operating 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), Sakura Finetek (Japan), Merck KGaA (Germany), Bio SB (US), Diapath S.p.A. (Italy), and BioGenex Laboratories (US).
F. 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. Roche’s strong geographic presence, robust distribution channels, and an impressive brand image enable it to maintain a leading position in the anatomic pathology market. The company focuses on organic growth strategies. For instance, in 2020, the company has launched the CINTEC Plus cytology test. Similarly, in 2018, the company received CE approval for its BenchMark ULTRA Plus Staining System.
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