Anatomic Pathology Market Size Worth $53.27 Billion, Globally, by 2031 - Exclusive Report by The Insight Partners
Global Anatomic Pathology Market size is expected to reach US$ 53.27 billion by 2031 from US$ 30.22 billion in 2023 to record a CAGR of 7.3% from 2023 to 2031.
US & Canada, Oct. 18, 2024 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the global anatomic pathology market is observing significant growth owing to growing need for early disease detection. The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the anatomic pathology market comprises a vast array of platforms and services that are expected to register strength during the coming years.
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Competitive Strategy and Development
Key Players: A few major companies operating in the anatomic pathology market include F. Hoffmann-La Roche Ltd, Beckman Coulter Inc, Hologic Inc, Agilent Technologies Inc, BioGenex Laboratories Inc, Diapath S.p.A., Bio SB, Merck KGaA, BD, and PHC Holdings Corporation.
Trending Topics: Diagnostic Imaging, Molecular Diagnostics, Histopathology, Cytopathology, Laboratory Equipment, Biopsy Devices, among others.
Global Headlines on Anatomic Pathology
"Roche announced that its whole-slide imaging system, the Roche Digital Pathology Dx (VENTANA DP 200), received 510(k) clearance from the US FDA."
"Agilent Technologies Inc. unveiled the NovoCyte Opteon Spectral Flow Cytometer, setting a new accessibility standard in flow cytometry."
"Hologic Launched the Genius Digital Diagnostics System, an AI-powered digital cytology solution poised to strengthen the fight against cervical cancer."
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Overview of Report Findings
Market Growth: The anatomic pathology market is expected to reach US$ 53.27 billion by 2031 from US 30.22 billion in 2023, at a CAGR of 7.3% during the forecast period. Anatomic pathology is the specialized medical study that deals with understanding diseases by studying organs and tissues. It concerns itself with the processing and examination and diagnosis of surgical specimens by trained pathologists.
Rising Research and Development Activities: Anatomic pathology applies in diagnosing different conditions, including cancers, through the analysis of tissue samples obtained through biopsies, surgical resections, and postmortem autopsies. There is growing R&D into pathology techniques and equipment to improve their diagnostic quality. Innovation in the area needs to increase constantly to meet changing requirements of healthcare providers as well as patients.
Growing Demand for Personalized Medicine: The burgeoning demand for tailored treatment according to individual patient characteristics is currently growing and falls into the larger category of personalized medicine. Personalized medicine provides an opportunity for drug manufacturers to develop agents that target patient groups that do not respond to medications as intended or for them who do not respond as expected to traditional healthcare practice. Such a trend is driving anatomic pathology to be at its best because this science plays a very important role in understanding mechanisms of disease, thus leading to the development of targeted therapies.
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Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and APAC. Asia Pacific is expected to witnessed the highest CAGR during the forecast period.
Market Segmentation
Based on product and service, the global anatomic pathology market is segmented into instruments, consumables, and services. The instruments segment held the largest share in the anatomic pathology market in 2023.
By application, the market is segmented into disease diagnosis, drug discovery and development, and others. The disease diagnosis segment held the largest share in the anatomic pathology market in 2023.
In terms of end user, the anatomic pathology market is divided 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 in the anatomic pathology market in 2023.
The anatomic pathology market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.
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To introduce upgraded technologies, machine learning (ML) and artificial intelligence (AI) are integrated with digital pathology for proper analysis and management of data. 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 laboratory operations to improve the speed and accuracy of processes. With AI and ML, pathologists will have an augmented ability to improve diagnostic accuracy, efficiency, and consistency.
In November 2023, Dedalus Group and Ibex Medical Analytics launched a fully integrated End-to-End AI-powered Digital Pathology Solution for cancer diagnostics. It enables complete digitization of anatomic pathology labs with a next-generation Anatomic Pathology Information System (AIS) and DP solution, harnessing the power of data and AI for assisted case prioritization, advanced image analysis, and reproducible diagnoses. The rising focus on integrating AI technology for anatomical pathology processes due to its benefits is expected to fuel the growth of the market during the forecast period.
The anatomic pathology market analysis has been carried out by considering the following segments: products and services, application, end user, and geography. Based on products and services, the anatomic pathology market is segmented into instruments, consumables, and services. The services segment is further bifurcated into histopathology and cytopathology. The instruments segment is further divided into microtomes and cryostat, automatic stainers, tissue processors, and others. By application, the market is segmented into disease diagnosis, drug discovery and development, and others. Based on end user, the anatomic pathology market is divided into hospitals, research laboratories, diagnostic laboratories, and others.
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Conclusion
Advances in anatomic pathology instruments and technologies, increased demand for early diagnostic solutions, and growing research and development activities by the market players are accelerating growth and innovation in the anatomic pathology market. Advanced technologies in pathology, especially AI, are transforming the space. Improved diagnostics and efficiency developed through AI-based digital pathology solutions have been the key drivers of the growth of this market. In addition, more acceptance of personalized medicine and point-of-care testing would leave much scope for further expansion in the market. The mounting demand for early disease detection is the other more critical influence. The earlier a disease is detected, the better the treatment outcome. Thus, enormous investments are being made in diagnostic technologies and services. Anatomic pathology is in a position for revolutionary growth and development based on increasing research, changes in methodologies, and the ever-widening role of precision medicine, as well as public health initiatives. The stakeholders in this space should keep their eyes open to all emerging trends and innovations in order to fully tap the potential of anatomic pathology technologies to challenge today's scientific and medical problems.
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The report from The Insight Partners, therefore, provides several stakeholders—including component providers, system technology integrators, system manufacturers, and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.
Digital pathology, a growing subfield within anatomical pathology, uses digital technologies to streamline data collection and management. It helps reduce risks to specimen samples and has the potential to accelerate enrolment in clinical trials. Additionally, digital pathology can decrease sample-to-result turnaround time and streamline the central pathology review process, offering opportunities to increase trial efficiency.
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