Anatomic Pathology Market is expected to reach US$ 33,145.78 million by 2028

The anatomic pathology market is expected to reach US$ 33,145.78 million by 2028; registering at a CAGR of 6.4% from 2022 to 2028, according to a new research study conducted by The Insight Partners

Growing Focus on Personalized Medicines Boost Anatomic Pathology Market

The market growth is attributed to the increasing prevalence of cancer and other diseases and growing focus on personalized medicines. However, the lack of skilled professionals and stringent government regulations are hampering the market growth.

Personalized medicines are mainly developed by considering individuals’ genetic profiles to make decisions regarding the prevention, diagnosis, and treatment of a disease. Medical device and drug manufacturers develop agents for particular patient groups that do not respond to medications or traditional healthcare practices. The evidence indicates that a substantial portion of the variability in drug response depends on the factors that are genetically controlled, e.g., age, nutrition, environmental exposure, and health status. Genomics plays an important role in the emergence of personalized medicines, as the knowledge of patient's genetic profile helps doctors in selecting appropriate medications. Personalized medicines improve the healthcare services by enabling each patient to receive an earlier diagnosis, risk assessment, and optimal treatment.

Anatomic Pathology Market, by Region, 2022 (%)

In addition, pathologists play an important role in developing and implementing molecular and genomic tests in practice. Personalized medicines are used to treat the diseases such as breast cancer and cardiovascular diseases. Personalized anticancer medicines exhibit fewer and less severe side effects than other types of treatment as they are designed for more specific action. Further, with the progress in research and clinical studies, these medicines are likely to improve the quality of patient care. Thus, the growing focus on personalized medicines is boosting the anatomic pathology market growth.

Based on product and service, the global anatomic pathology market is segmented into instruments, consumables, and services. The services segment held the largest market share in 2021; however, the instruments segment is anticipated to register the highest CAGR during the forecast period. The instruments used in anatomic pathology practices are basic pathology equipment such as microtome; a tool to cut extremely thin sections for materials such as bones, teeth and others; automatic slide stainer that helps highlight the structures in biological tissues and obtain a detailed look at the sample; biomedical specimen cabinets used as storage systems to organize the supply of laboratories; cooling plate; paraffin trimmer/dispenser; and slide dryer. Further, the growing adoption of automation is expected to boost the market for anatomic pathology instruments during the forecast period.

Based on application, the anatomic pathology market is segmented into disease diagnosis, drug discovery and development, and others. The disease diagnosis segment is held the largest share of the market in 2022; however, the drug discovery and development segment is anticipated to register the highest CAGR during the forecast period. Growing R&D expenditure in the pharmaceuticals & biopharmaceuticals industries is bolstering the demand for analytical testing and clinical trial services. Anatomic pathology services are effectively used in the development of modern oncology drugs.

Based on end user, the anatomic pathology market is segmented into hospitals, research laboratories, diagnostic laboratories, and others. The others segment includes pharmaceutical and biotechnology companies and contract research organizations (CROs). The hospitals segment held the largest share of the market in 2022; however, the diagnostic laboratories segment is anticipated to register the highest CAGR during the forecast period. Diagnostic laboratories offer anatomical records, necropsy/deceased care, cytopathology, electron microscopy, histopathology, immunopathology, and surgical pathology services. The professionals working in these laboratories have in-depth knowledge of testing methodologies and handling various equipment.

Impact of COVID-19 Pandemic on Anatomic Pathology Market

The COVID-19 pandemic and the disruption it caused in healthcare resources impacted every aspect of the diagnostics industry, including the anatomic pathology market. The shutdown of clinics, operation rooms, and physicians’ offices and the “stay-at-home” mandates across the globe severely affected the acquisition and submission of specimens for pathological evaluation. In 2020 and 2021, the number of patient visits to hospitals reduced significantly, despite emergency and OPD services being available in hospitals. Further, most hospitals invested their efforts and resources in diagnosing and treating COVID-19; as a result, many planned surgeries were canceled or delayed. Hence, various early cancer detection systems were deactivated, and most of autopsies were suspended. This situation hampered the medical care of patients with illnesses other than COVID-19, including patients with chronic diseases, oncology patients, or those awaiting organ transplantation. Consequently, the number of surgical pathology and cytology samples received in anatomic pathology labs was reduced.

A few prominent players operating in the anatomic pathology market are F. Hoffmann-La Roche Ltd.; Danaher; Hologic, Inc.; Agilent Technologies, Inc.; BioGenex; Diapath S.p.A.; Bio SB; Merck KGaA; BD; and PHC Holdings Corporation. These leading players are adopting strategies such as the expansion and diversification of their market presence and the acquisition of a new customer base for tapping prevailing business opportunities.

In December 2020, Hologic, Inc. announced Genius AITM Detection technology, a new deep learning-based software designed to help radiologists detect subtle potential cancer in breast tomosynthesis images. The technology received FDA clearance and is now commercially available in the market.

Anatomic Pathology – Market Segmentation

Based on product and service, the global anatomic pathology market is segmented into instruments, consumables, and services. Based on application, the anatomic pathology market is segmented into disease diagnosis, drug discovery and development, and others. Based on end user, the anatomic pathology market is segmented into hospitals, research laboratories, diagnostic laboratories, and others. Geographically, the anatomic pathology market is segmented into North America (US, Canada, and Mexico), Europe (France, Germany, UK, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), Middle East & Africa (Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

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