Advancing at a CAGR of 5.8% during the forecast period (2019–2024), the anatomic pathology market is expected to garner $24.3 billion revenue by 2024, compared to $17.4 billion in 2018. The biochemical, microscopic, macroscopic, molecular, and immunologic examination of organs and tissues, which helps in disease diagnosis, is termed as anatomic pathology. The main reasons for the market growth are the increasing prevalence of chronic diseases, rising geriatric population, and technological advancements in the field.
The anatomic pathology market is observing the trend of the increasing adoption of new technologies, such as biobanking. It is the collection of samples of bodily tissues and fluids for the purpose of carrying out research for better understanding of diseases and health. In today’s time, when the emphasis is on obtaining faster test results for making a quick diagnosis, biobanking processes are being digitized for the easy storage and reference of test results. Additionally, the development of the liquid biopsy technique, coupled with next-generation sequencing, is revolutionizing the cancer diagnosis domain.
The improving economy of many countries is providing tremendous growth opportunities to the anatomic pathology market. The increasing gross domestic product (GDP) of many countries has motivated governments to increase their healthcare budget, which is leading to the improvement in related infrastructure and facilities and access to these. As per the World Bank, in 2015, Brazil spent 8.9% of its GDP on healthcare. In the same year, 5.9% was invested by Mexico and 5.3% by China. With the growing investment in the healthcare sector, market players have ample opportunities to prosper.
Therefore, the market for anatomic pathology is expected to flourish during the forecast period, as the elderly population across the globe is increasing, the healthcare infrastructure in developing economies is witnessing a transformation, and new technologies are being developed.
ANATOMIC PATHOLOGY MARKET SEGMENTATION
Market Segmentation by Product
- Stains & dyes
- Tissue processors
- Slide stainers
Market Segmentation by Test Type
- Surgical Pathology
Market Segmentation by Technique
- Special Staining
- Electron Microscopy
- Genetic Testing
Market Segmentation by Application
- Disease Diagnosis
- Drug Discovery
Market Segmentation by End User
- Hospitals and Clinics
- Diagnostic Laboratories
- Ambulatory Surgical Centers
- Academic and Research Organizations
Market Segmentation by Region
- North America Anatomic Pathology Market
- Europe Anatomic Pathology Market
- Asia-Pacific (APAC) Anatomic Pathology Market
- Latin America (LATAM) Anatomic Pathology Market
- Middle East & Africa (MEA) Anatomic Pathology Market