New York, Oct. 12, 2022 (GLOBE NEWSWIRE) -- Research Nester has published a detailed market report on ‘Global Anatomic Pathology Market’ for the forecast period, i.e. 2023 – 2033 which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers
- Challenges
- Key market players and their detailed profiling
Global Anatomic Pathology Market Size:
The global anatomic pathology market is estimated to garner a revenue of ~USD 59424 million by the end of 2033 by growing at a CAGR of ~9% over the forecast period. Additionally, in 2022, the market brought in USD 24337 million in revenue. The market's expansion can primarily be attributable to the increase in laboratory tests conducted on a global scale. It is believed that over 200,000 clinical laboratories perform more than 12.9 billion laboratory tests annually in the U.S. The field of medicine known as anatomic (or anatomical) pathology investigates how a particular disease affects the organs and tissues of the body. Anatomic pathology identifies anomalies and aids in the diagnosis of illness and the administration of care. The majority of anatomic pathology is used to diagnose and treat different cancers and tumors, but it can also be used to assess other disorders.
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Moreover, the demand for anatomic pathology is increasing among healthcare service providers as a result of recent developments in digital pathology and Artificial Intelligence (AI). This is expected to result in significant revenue generation opportunities for the key players operating in the global anatomic pathology market during the forecast period. It was found that a web-based poll was carried out in March 2021, and over 310 respondents answered it. Over 85% of respondents thought that AI can be useful in the field of surgery, and around 60% anticipated that AI will enhance their capacity for diagnosis.
Global Anatomic Pathology Market: Key Takeaways
- North America region gains the largest portion of the revenue
- Hospitals segment to dominate the revenue graph
- Services sub-segment remains prominent in the type segment
Growing Cancer Cases and Upsurge in the Number of Pathologists to Boost Market Growth
Anatomic pathology tests are employed to identify diseases. The market for anatomic pathology is anticipated to grow over the anticipated period owing to the rise in cancer incidence and the growing requirement for biopsies across the world. As per the report by the World Health Organization, each year, 400 000 children are diagnosed with cancer and it is also believed that 30 to 50 percent of cancer cases
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have been avoided with early detection. Moreover, the increasing disposable income and growing awareness among people regarding cancer and other chronic diseases are predicted to boost market growth.
In addition to this, the need for pathologists is growing daily owing to their significant medical understanding in identifying and diagnosing disease, which aids in determining patient treatment and care. Further, the increasing number of pathologists across the globe is estimated to drive market growth. It was found that the American Medical Association’s Physician Masterfile listed 21 292 active pathologists as of June 2019 compared with 12 839 anatomical and clinical pathologists reported in 2017.
Global Anatomic Pathology Market: Regional Overview
The global anatomic pathology market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Number of Surgeries to Drive Growth in the North America Region
The market in North America region is estimated to hold the largest market share by attaining a revenue share of 39.21% in 2022. The region's expansion is supported by a robust healthcare system, an increase in hospitals and diagnostic facilities, and a rise in the need for advanced anatomic pathology among healthcare service providers as a result of the region's increasing surgical rate. It was observed that between January 1, 2019, and January 30, 2021, a total of 13 108 567 surgical procedures were recorded.
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Growing Prevalence of Cancer to Drive Growth in the Asia Pacific Region
On the other hand, the market in Asia Pacific region is estimated to hold a significant market share over the forecast period owing to the increasing prevalence of cancer in the region. It is believed that 7.8 million new instances of cancer and 5.7 million cancer-related deaths are anticipated in 2050. Further, the growing geriatric population, who are more prone to cancer disease is predicted to boost the market growth in the region over the ensuing years.
The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Anatomic Pathology Market, Segmentation by Type
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- Services
- Consumables
- Instruments
Out of these, the services segment is estimated to gain the largest market share over the forecast period. Moreover, in 2022, the services segment held the biggest share of 48.12%, supported by an increase in breast cancer cases and biopsies performed globally. It was found that every year, 700,000 biopsies are performed in the United States; ultimately, 55%-85% of these biopsies reveal benign breast tumors. Further, the rising laboratories and up surging number of pathologists are predicted to propel market growth.
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Global Anatomic Pathology Market, Segmentation by End-User
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- Hospitals
- Diagnostic Laboratories
- Research & Academic Laboratories
Among these, the hospital segment is estimated to hold a substantial market share over the forecast period on account of the increasing patient pool in the hospital, backed by the growing exposure to carcinogens. Moreover, the increasing disposable income across the developed and developing nations and the high cost of treating cancer is estimated to drive the segment growth over the forecast period. According to projections, the cost of cancer care in the US was projected to rise from USD 124.5 billion in 2010 to USD 157.8 billion in 2020. Additionally, the growing awareness among the people about cancer, growing medical advancements, and rising healthcare infrastructure are estimated to propel the segment growth during the forecast period.
Global Anatomic Pathology Market, Segmentation by Subdivision
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- Histopathology
- Cytopathology
Global Anatomic Pathology Market, Segmentation by Product Type
- Recombinant Non-Glycosylated Proteins
- Recombinant Glycosylated Proteins
- Recombinant Peptides
Global Anatomic Pathology Market, Segmentation by Application
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- Disease Diagnosis
- Drug Discovery & Development
Few of the well-known market leaders in the global anatomic pathology market that are profiled by Research Nester are PHC Holdings Corporation, Indica Labs, Inc., F. Hoffmann-La Roche Ltd., Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Sakura Finetek USA, Inc., BioGenex, NeoGenomics Laboratories, Inc., Agilent Technologies, Inc., and others.
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Recent Developments in the Global Anatomic Pathology Market
- August 2022, Epredia, a leader in precision cancer diagnostics has just begun selling two cutting-edge printers in the United States that are used in labs to identify and monitor tissue samples. For anatomical pathology laboratories, the NOVA and VEGA laser cassette printers are made to increase productivity and patient sample tracking.
- In August 2022, Indica Labs partnered with The Industrial Centre for Artificial Intelligence Research in Digital Diagnostics to provide image management and quantitative digital pathology solutions. An initiative to build a digital pathology tool based on artificial intelligence (AI) to identify cancer in patients undergoing colon surgery has been revealed.
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