Asia Pacific Anatomic Pathology Market is expected to reach US$ 5,697.76 million by 2028

PRESS RELEASE BY The Insight Partners 16 Dec 2021

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The instruments segment by product and services is estimated to lead the market growth during the forecast period.

According to The Insight Partners market research study of “Asia Pacific Anatomic Pathology Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product and Service, Application, End User and Country.” The Asia Pacific anatomic pathology market is expected to reach US$ 5,697.76 million by 2028 from US$ 3,556.33 million in 2021; it is estimated to grow at a CAGR of 7.0% from 2021 to 2028. The report highlights trends prevailing in the Asia Pacific anatomic pathology market and the factors driving market along with those that act as hindrances.

The number of cancer diagnosis procedures performed worldwide is increasing with the rise in prevalence of the disease. Despite significant progress in cancer prevention, diagnosis, and treatment, there is a large unmet medical need for the treatments for major cancer types, such as lung, prostate, breast, etc. Clinical trials play an important role in medical advancements and the development of evidence-based healthcare. These trials have the potential to improve the standard of care for all individuals who are diagnosed with cancer. Many researchers are conducting clinical trials to test new treatments for both common and rare cancer types. The FDA has approved a total of 47 immunotherapies as of December 2019 that includes almost every major cancer type. These drugs are now the standard of care for many cancers. Clinical trials find better ways to prevent, diagnose, and treat cancer. As the result of medications approval after going through clinical trials, many cancer patients live longer with improved quality of life. Pathology plays an important role in every phase of clinical trials. Thus, the rising number of clinical trials for anticancer drugs is likely to support the growth of the anatomic pathology market in the coming years. There is huge scope for the integration of machine learning (ML) and artificial intelligence (AI)-based systems in medical streams, including anatomic pathology. Several anatomic pathology laboratories are becoming increasingly aware of the benefits of digitization and AI in practice. Moreover, recent technological advancements and regulatory approvals are encouraging the digitalization of laboratories operations to improve the speed and accuracy of processes. The properly designed AI-based tools hold great potential for improving the workflow efficiency and diagnostic accuracy in pathology. The AI technology has potential in advancing pathology imaging, which can allow greater precision in diagnosis, leading to more specific treatment.  Digital pathology, a growing subfield within anatomical pathology, uses digital technologies to streamline data collection and management. Additionally, the digital pathology can reduce sample-to-result turnaround time and streamline the central pathology review process, further offering opportunities to increase trial efficiency. Various players operating in the market are focused on bringing innovative solutions for patients. Further, RadNet, an imaging services provider, and Hologic, a diagnostic products developer, collaborated on the development of AI tools for breast health. Thus, the introduction of new technologies and products is likely to emerge as a significant trend in the anatomic pathology market during the forecast period.

Countries in Asia Pacific are witnessing a massive challenges due to the growing cases of COVID-19. Considering the economic operations and geographic conditions, the outbreak of the disease has adversely affected medical tourism and diagnostic kits and drugs manufacturing, supply chains, and distribution. It caused other problems due to the shortage of healthcare infrastructure in low-income countries in the region. To prevent the spread of the novel coronavirus, restrictive measures have been taken in countries such as India, South Korea, Singapore, Malaysia, and the Philippines. The measures have disrupted all industries, such as cancer diagnostics. According to a recent article published by National Institute of Health, in April 2020, cancer patients admitted at hospitals in Delhi, India, are facing immense hardships as their treatments and diagnosis and progress checking tests have been postponed as hospitals are busy dealing with COVID-19 cases. Moreover, in India, the outbreak embarked upon the already vulnerable laboratories with challenges related to the availability of workforce, transportation, deficiency of personal protective equipment and gadgets, delay in procurement of essential items, a decline in financial turnover, and apprehensions among the staff. Some laboratory sections worked round the clock during lockdown to provide diagnostic facilities to routine and COVID-19 cases. Also, histopathology and cytology workload reduced substantially, which hampered the Asia Pacific anatomic pathology market growth.

Based on product and service, the Asia Pacific anatomic pathology market is segmented into instruments, consumables, and services. By application, the Asia Pacific anatomic pathology market is segmented into disease diagnosis, drug discovery and development, and others. The disease diagnosis segment held the largest market share in 2021. The Asia Pacific anatomic pathology market, based on end user, is segmented into hospitals, research laboratories, diagnostic laboratories, and others. Geographically, the Asia Pacific anatomic pathology market can be segmented into China, Japan, South Korea, Australia, India and Rest of Asia Pacific.

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 are among the leading companies operating in the Asia Pacific anatomic pathology market.

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