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Report
Anatomic Pathology Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 111 Pages I Mordor Intelligence
The anatomical pathology market is expected to register a CAGR of 6.5% during the forecast period.
Globally, the COVID-19 outbreak has impacted every aspect of the diagnostics industry, including the anatomic pathology market. In the last few months, the number of patient visits to hospitals has reduced significantly, despite emergency and OPD services being available in hospitals.
Cancer patients have emerged as one of the worst affected patient groups in this pandemic. COVID-19 has had a profound impact on the number of patients undergoing cancer screening, diagnosis, and treatment. The increased pressure due to the growing rate of hospitalization of COVID-19 patients had led to the re-profiling of many hospitals and departments, including oncology clinics, for treating patients with COVID-19. According to a study published by the National Library of Medicine in 2020, consequently, many diagnostic and treatment procedures were canceled or postponed around the world, including as many as 2.3 million cancer surgeries. Clinical trials in oncology have also been affected, with about 170 studies suspended due to COVID-19, according to a report by Evaluate Vantage in 2021.
According to the World Health Organization, in 2021 globally, in 122 out of 163 countries, non-communicable disease services were disrupted, and 1 in 3 countries in the European region had partially or completely disrupted cancer services. At the Kyrgyzstan National Center of Oncology, the number of cancer cases diagnosed in April 2020 dropped by 90%, while in the Netherlands and Belgium, this figure dropped by 30-40% during the first lockdown of 2020.
Delayed diagnosis and treatment of cancer patients owing to lockdown-related restrictions are expected to increase cancer mortality rates. In the United Kingdom, in the next five years, the number of deaths from colorectal cancer and breast cancer is expected to increase by 15% and 9%, respectively. However, a resurgence in testing numbers is seen as countries are gradually easing restrictions on movement.
The anatomic pathology market will show rapid growth due to the high incidence of cancer and other target diseases, the growing focus on personalized medicine, and a substantial number of supporting programs and training modules by the government. Cancer is the second-leading cause of death worldwide, accounting for 10 million deaths in 2020. Globally, about 1 in 6 deaths occur due to cancer (Source: World Health Organization). In 2020, 19.3 million new cancer cases were reported, and this figure is expected to increase to 30.2 million by 2040. This increase in the incidence of cancer can be attributed to the growing geriatric as well as the total population.
There is rapid growth in the geriatric population and an increasing incidence rate of cancer and other chronic diseases. Rising cases of chronic disease and increasing requirements to address the timely diagnosis of medical conditions are driving the market. For instance, According to the World Population Ageing 2020 report, the global population aged 65 years and above was 727 million in 2020 and is expected to double by 2050 to reach 1.5 billion. Since the elderly are more susceptible to various diseases, this demographic trend is expected to result in significant growth in the prevalence of several chronic diseases, including cancer, across the globe.
Anatomic Pathology Market Trends
The Consumables Segment is Expected to Witness Growth Over the Forecast Period
The consumables segment dominated the market in during the forecast period. The availability of a wide range of products, coupled with a high usage rate of consumables in research findings, is fueling the segment growth. The low cost and the easy availability of pathology consumables further contributed to the segment growth.
A substantial number of reagents and kits, antibodies, and probes are being marketed for anatomic pathology protocols. Some key reagents and kits include Tamping Tools Kits, CISH Centromere Detection Kits by Thermo Fisher; ultra view SISH DNP Detection Kit, ISH iVIEW Blue Plus Detection Kit by Roche, and Instrument Cleaning Kit by Agilent.
The ongoing technological advancements and focused efforts by the market participants to offer anatomic pathological instruments with an improved design are anticipated to bolster the growth of the instruments segment. For instance, in April 2020, Precisionary Instruments launched a CF-6100 cryostat. This cryostat promotes and supports tissue sectioning in dermatology, histology, and pathology.
North America is Found Leading the Anatomic Pathology Market
North America has been accounted for the largest revenue share due to the presence of major players and supportive government initiatives pertaining to training pathological programs. There is also an easy accessibility to advanced technologies, government initiatives for screening cancer patients, favorable reimbursement scenario for anatomic pathology diagnostic tests, increasing healthcare expenditure, and the presence of high-quality infrastructure for hospitals and clinical laboratories in the region that are the major factors driving the growth of the Anatomic Pathology market in North America.
Furthermore, key entities are undertaking several strategic initiatives to develop upgraded and advanced pathology devices with respect to their design and ease of use. For instance, in April 2021, Leica Biosystems signed a strategic collaboration with Paige, an AI-based company with an aim to develop computational pathology systems. The company undertook this strategic step to an expansion of its digital pathology product portfolio. Similarly, in May 2021, Quest Diagnostics announced its partnership with Paige to develop AI-based cancer pathology products.
Anatomic Pathology Market Competitor Analysis
Product innovation and ongoing R&D activities to develop advanced technologies has helped in boosting the growth of the market. Various strategies and collaborations are being adopted by these key players to maintain their market share. The key players are found implementing multiple strategies to maintain their significant share in the marketplace during the forecast period. The strategies implemented include collaborative development, business expansion, and product developments.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 High Incidence of Cancer and Other Target Diseases
4.2.2 Growing Focus on Personalized Medicine
4.2.3 High Usage of Advanced Pathology Equipment
4.3 Market Restraints
4.3.1 Stringent Government Regulations Pertaining to Anatomic Pathology
4.3.2 Lack of Skilled Professionals
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product & Services
5.1.1 Instruments
5.1.2 Consumables
5.1.3 Services
5.2 By Application
5.2.1 Disease Diagnosis
5.2.2 Drug Discovery and Development
5.2.3 Others
5.3 By End User
5.3.1 Hospitals
5.3.2 Research Laboratories
5.3.3 Diagnostic Laboratories
5.3.4 Others
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Thermo Fisher Scientific Inc.
6.1.2 Quest Diagnostics Incorporated
6.1.3 Laboratory Corporation of America Holdings
6.1.4 F. Hoffmann-La Roche Ltd.
6.1.5 Agilent Technologies, Inc.
6.1.6 Cardinal Health
6.1.7 Sakura Finetek USA, Inc.
6.1.8 NeoGenomics Laboratories, Inc.
6.1.9 BioGenex
6.1.10 Bio SB
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