Europe Anatomic Pathology Market is expected to reach US$ 2,095.39 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 “Europe Anatomic Pathology Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product and Service, Application, End User and Country.” The Europe anatomic pathology market is expected to reach US$2,095.39 million by 2028 from US$ 1,351.47 million in 2021; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The report highlights trends prevailing in the Europe anatomic pathology market and the factors driving market along with those that act as hindrances.

Personalized medicines are mainly designed by considering individuals’ genetic profiles to guide decisions made with respect to the prevention, diagnosis, and treatment of a disease. They provide an opportunity for medical device and drug manufacturers to develop agents that are targeted to patient groups that do not respond to medications as intended or that do not respond as expected to the traditional healthcare practices. There is much evidence indicating that a substantial portion of the variability in drug response depends on 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 having the knowledge of a patient's genetic profile would help doctors in selecting an apt medication. Personalized medicines are useful for improving healthcare by enabling each patient to receive earlier diagnoses, risk assessments, and optimal treatments. The pathologists play an important role in developing and implementing molecular and genomic tests in practice. Personalized medicines are used in the treatment of diseases such as breast cancer and cardiovascular diseases. The 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 ongoing progress in research and clinical studies, personalized medicines are likely to reach even greater potential to improve the quality of patient care. Thus, the growing focus on personalized medicines is boosting the anatomic pathology market growth. Also, the rising number of clinical trials for the anticancer drugs is likely to fuel the growth of the Europe anatomic pathology market in the coming years.

Europe is facing the massive impact of the COVID-19 outbreak due to the exponential growth in the number of COVID-19 infected patients in the region. The pandemic is compounding workforce pressures across the European nations. The impact of the pandemic on cancer patients is high in terms of anxiety, fear, and psychological distress. Moreover, the supply of diagnostics kits and assays is delayed because of the increase in quarantine time and the shutdown of all business operations. There has been a decrease in patients seeking help for their symptoms—including a significant decline in referrals from primary care—leading to substantial delays in diagnosis and a significant backlog of cases. Moreover, a recent report from Cancer Research UK, while estimating the cost of growing the NHS cancer workforce in England by 2029, shows that the number of histopathologists is set to reduce from the existing shortfall by an additional 2% by 2029. However, the European Society for Medical Oncology (ESMO) is encouraging medical oncologists to work closely with governments and health authorities to sustain high-quality cancer services in clinics and hospitals.

Based on product and service, the Europe anatomic pathology market is segmented into instruments, consumables, and services. By application, the Europe 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 Europe anatomic pathology market, based on end user, is segmented into hospitals, research laboratories, diagnostic laboratories, and others. Geographically, the Europe anatomic pathology market can be segmented into Germany, Russia, Italy, France, UK, and Rest of Europe.

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 Europe anatomic pathology market.

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