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Anatomic Pathology Market Growth Analysis, Future Scope, Key Drivers And Forecast To 2021
The anatomic pathology market was valued at USD 16.2 Billion in 2016 and poised to grow at a CAGR of 6.1% between 2016 and 2021, to reach USD 21.9 Billion in 2021.
According to the new market research report "Anatomic Pathology Market by Product & Service (Instruments (Tissue Processing Systems, Microtome), Consumables (Reagent & Antibodies), Histopathology, Cytopathology), Application (Disease Diagnosis, Drug Discovery & Development) - Forecasts to 2021", published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).
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The increasing prevalence of chronic diseases, growing aging population, and increasing healthcare expenditure are the major factors driving the growth of this market. The global anatomic pathology market is expected to reach USD 21.9 Billion by 2021 from USD 16.2 Billion in 2016, at a CAGR of 6.1% from 2016 to 2021.
Based on product and service, the anatomic pathology market is segmented into instruments, consumables, and services. The instruments segment has been subsegmented into tissue processing systems, slides staining systems, microtomes, and other instruments. Similarly, the consumables segment has been subsegmented into reagents & antibodies, probes, kits, and other consumables. Likewise, the services segment has been subsegmented into cytopathology, histopathology, and other services. In 2016, the services segment accounted for the largest share of the market. This growth can be attributed to the increasing prevalence of chronic diseases and the subsequent growth in the number of anatomic pathology tests.
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In the instrument subsegment, the tissue processing systems segment accounted for the largest share of the anatomic pathology market in 2016 due to the increasing automation in the instruments that improve the quality of diagnosis process. Similarly, in the consumables subsegment, the reagents & antibodies segment accounted for the largest share of the market, in 2016. This is due to increasing number of diagnostics tests that fuel the utilization of reagents & antibodies. Likewise, in the services subsegment, the histopathology segment accounted for the largest market share in 2016. This is mainly due to their use in the diagnosis of a wide range of chronic diseases, such as cancer, and bacterial and viral diseases.
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On the basis of region, the global anatomic pathology market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). Asia is expected to grow at the highest CAGR during the forecast period. The presence of emerging economies like China, India, and Japan; the large population and rising prevalence of chronic diseases in these countries; improving standards of living; growing demand for quality medical care; increasing healthcare spending and government initiatives; rising awareness about the use of anatomic pathology tests among physicians; and growth in the demand for diagnostics are some major factors driving the high growth of this regional segment.
Some of the major players operating in the anatomic pathology market are F. Hoffmann-La Roche AG (Switzerland), Thermo Fisher Scientific (U.S.), Danaher Corporation (U.S.), Agilent Technologies (U.S.), Sakura Finetechnical Co., Ltd. (Japan), Quest Diagnostics Incorporated (U.S.), Laboratory Corporation of America Holdings (U.S.), and NeoGenomics Laboratories, Inc. (U.S.).
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