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Rising Occurrence of Chronic Medical Conditions Projected to Augment Anatomic Pathology Market at 6.5% CAGR Till 2025 End - TMR
ALBANY, New York, July 25, 2019 /PRNewswire/ -- Transparency Market Research (TMR) estimates that the global anatomic pathology market is dominated by the North America region in 2016 by accounting 40.0% share of the overall market. Additionally, the region is estimated to hold a leading position in the coming years owing to rising caregivers and especially growing elderly care. However, the market in the Asia Pacific region is estimated to expand at a most lucrative CAGR in coming years owing to the highest investment in healthcare to adopt advanced infrastructure and especially at an affordable cost.
The anatomic pathology market is highly competitive owing to the presence of numerous companies coupled with a handful of regional players trying to tap regional opportunities. For thriving in the cutthroat competition, the players are ramping up their investment for improving the research and developments. Some of the key players in the market are Abbott Laboratories, Danaher Corporation, Laboratory Corporation of America Holdings, Thermo Fisher Scientific Inc., NeoGenomics Laboratories Inc., Quest Diagnostics Incorporated, Agilent Technologies Inc., F. Hoffmann-La Roche Ltd., and Sakura Finetek USA Inc.
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Rising Investment in Research and Development Drives the Market
The investment by key players is leading to increasing in product launches and innovations. Additionally, rising investment by governments and healthcare providers are influencing positively on the growth of the global anatomic pathology market. For instance, in October 2018, Sakura Finetek USA partnered with Laboratory Medicine and Henry Ford Health System Pathology for automating anatomic pathology laboratories. Such investments for improving technology are estimated to help the market to grow substantially. Further, the key players are entering into partnerships and agreements for accessing newer technologies.
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TMR estimates, the global anatomic pathology market stood at a value US$17,318.0 mn in 2016 and is likely to expand at a CAGR of 6.5% to grab a value of US$30,314.5 mn by 2025 during the forecast period from 2017 to 2025. This growth is primarily attributable to the surge in usage of biomarkers, which allows the pathologists to screen at the molecular level. This increase in adoption of anatomic pathologies improves decision-making and thereby improves the outcomes, thus, the market is gaining substantial traction. Growing reliance over the biomarkers for screening life-threating diseases such as CVD and cancer are driving growth of the global anatomic pathology market.
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Effectiveness of Anatomic Pathology Testing Units Benefits the Market Growth
Anatomic pathology serves to reveal variations from the regulations, which empower screening of the different sicknesses and treatments. In addition, anatomic pathology is discovering rising application in revealing and overseeing various types of malignant growths and tumors. Disturbing increment in the quantity of such savage ailments is one of the principal components boosting the anatomic pathology market. The predominance of such constant conditions, rising spends on human services, a prospering old populace, and rising use and adequacy of biomarkers for determination of diseases is supporting the anatomic pathology market. Further, proceeded with development on the innovative front, prompting progressively refined anatomic pathology market techniques.
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Further, the segment of the diagnostic center is witnessing higher opportunities for growth at a pace owing to the broad use of anatomic measures and simple accessibility of novel atomic testing instruments and anatomic pathology testing units, which help to screen cancer growth at decreased expenses. Clinics and research associations are other key end-use sections driving demand for the anatomic pathology market.
This information is encompassed in the report by TMR, titled, "Anatomic Pathology Market (Products & Services - Instruments (Tissue Processors, Slide Strainer, and Microtomes), Consumables (Reagents and Antibodies), and Services (Histopathology and Cytopathology); Application - Disease Diagnosis and Drug Discovery; End-user - Diagnostic Centers, Hospitals and Research Organization) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025."
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