The market for anatomic pathology will expand quickly because of the high prevalence of cancer and other target diseases, the increasing importance of personalized care, and the vast array of government-sponsored support initiatives and educational materials. With 10 million deaths from cancer expected in 2020, it is the second-leading cause of mortality globally. Cancer is responsible for roughly 1 in 6 deaths worldwide. 19.3 million new instances of cancer were reported in 2020, and by 2040, it's anticipated that this number will reach 30.2 million. Both the aging population and the geriatric population growth can be responsible for the rise in cancer incidence.
Data Bridge Market Research shows that the Anatomic Pathology Market accounted for USD 18.66 billion in 2021 and is expected to reach USD 31.70 billion by 2029. The market is expected to grow with a CAGR of 6.85% from 2022 to 2029.
"Technological Developments Will Aid Growth"
Concerning design and use, significant entities are launching several strategic activities to create upgraded and improved pathology instruments. For instance, Leica Biosystems and Paige, an AI-based business, announced a strategic partnership agreement in April 2021 to create computational pathology technologies. The business made this strategic move to broaden its offering of digital pathology products. Similarly, Quest Diagnostics and Paige announced their collaboration to create AI-based cancer pathology products in May 2021.
What restraints the growth of the Anatomic Pathology Market?
"Lack of Reconditioned Anatomic Pathology Equipment Are Expected to Hamper the Market's Growth"
The lack of reconditioned anatomic pathology equipment is a significant barrier to the market's growth. Particularly in markets in price-sensitive developing countries, several end customers, mostly small and medium-sized laboratories, seek cost-effectiveness and choose reconditioned systems. Given these factors, there will likely be an increase in demand for refurbished anatomic pathology instruments in the upcoming years because they offer comparable functionality to new equipment at a lower price. This is anticipated to lower revenue for businesses in the market that sell branded anatomic pathology devices.
The anatomic pathology market is segmented on the basis of product and services, application and end users.
North America is expected to dominate the market due to established businesses, expanding use of modern imaging techniques in digital pathology services, growing public awareness of routine health screenings, and favorable government reimbursement regulations.
In addition, the Asia-Pacific region is likely to register the highest growth rate during the forecast period of 2022 to 2029 due to an increase in better patient care facilities, a rise in the need for new imaging modalities, and several pathology laboratories expanding their reach through franchising. The existence of government organizations in China, such as the Pathology Branch of the Chinese Medical Association, which supports pathology initiatives, also helps the rapid expansion of the market.
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The Prominent Key Players Operating in the Anatomic Pathology Market Include:
Above are the key players covered in the report, to know about more and exhaustive list of anatomic pathology market companies contact, https://www.databridgemarketresearch.com/contact
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
