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Anatomic Pathology Market Is Estimated To Witness High Growth Owing To Increasing Demand For Early Disease Detection

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Anatomic Pathology Market Is Estimated To Witness High Growth Owing To Increasing Demand For Early Disease Detection


The Anatomic Pathology market is estimated to be valued at US$ 30.16 Bn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Anatomic pathology refers to the gross and microscopic examination of tissues for the purpose of disease diagnosis. It involves examination of tissues, cells and body fluids using surgical pathology and autopsy or biopsy materials. Anatomic pathologists detect diseases like cancer, infection or inflammation among others through examination of biopsies and surgical specimens. They work closely with oncologists, surgeons, psychiatrists and other physicians to accurately diagnose and evaluate diseases. Anatomic pathology plays a vital role in disease diagnosis and guiding appropriate treatment decisions. Advances in immunohistochemistry, molecular testing and digital pathology are driving market growth.

Market Dynamics:

Rising prevalence of chronic diseases such as cancer is a major growth driver for the anatomic pathology market. Cancer is one of the leading causes of death worldwide. According to the World Health Organization, cancer burden is expected to grow to 27.5 million new cancer cases and 16.3 million cancer deaths by 2040. Early detection through anatomic pathology examination can significantly improve cancer treatment outcomes. Moreover, increasing demand for personalized medicine and companion diagnostics is propelling the need for advanced diagnostic techniques in anatomic pathology. Growing geriatric population also fuels market growth as risk of cancer and other chronic diseases increases with age. Furthermore, ongoing R&D for development of novel immuno-oncology therapies is reinforcing demand for companion diagnostic tests in anatomic pathology.

Market Dynamics:

The  Global Anatomic Pathology Market is witnessing increasing adoption of digital and automated solutions for pathology diagnosis. Use of digital pathology solutions allows swift and accurate scanning, analyzing and storing of pathology slides. This enables real-time collaboration between pathologists located at different sites. Automated slide scanning also reduces diagnostic errors and improves workflow efficiency. Growing investments by key players to develop advanced automation, imaging, machine learning and AI technologies in pathology are likely to transform the market in the coming years. For instance, Danaher Corporation offers digital pathology scanner called PixelSlide for whole slide scanning and image analysis.

Segment Analysis

The anatomic pathology market is segmented into instruments, consumables, and services. The consumables segment accounts for the largest share of the market owing to the high frequency of usage of consumables such as reagents, antibodies, probes, and kits for diagnosis. The consumables segment is further divided into histology consumables, immunohistochemistry (IHC) consumables, and cytopathology consumables. Among these, the histology consumables sub-segment dominates the market as histological examination is commonly used in diagnosis of diseases.

PEST Analysis

Political: Regulations regarding reimbursements and guidelines for disease diagnosis influences the market. Economic: Rising healthcare expenditure in developed countries and booming medical tourism in emerging nations boost market growth. Social: Growing public awareness about early disease diagnosis and increasing prevalence of chronic diseases drive market expansion. Technological: Digital pathology solutions and automation are revolutionizing anatomic pathology through artificial intelligence, machine learning, and workflow optimization.

Key Takeaways

The global anatomic pathology market is expected to witness high growth, exhibiting CAGR of 8.7% over the forecast period, due to increasing prevalence of chronic diseases. The market was valued at US$ 30.16 billion in 2023. Regional analysis indicates North America dominates the market currently due to favorable reimbursement policies and advanced healthcare infrastructure in the region. Key players operating in the anatomic pathology market are Thermo Fisher Scientific, F. Hoffman-La Roche AG, Agilent Technologies, Danaher Corporation, Quest Diagnostics, Inc., Biocartis NV, and Sakura FineTechnical Co., Ltd.

 

Read More: https://www.ukwebwire.com/the-anatomic-pathology-market-incorporate-high-demand/


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