Anatomic Pathology Market - Global Forecast to 2024: High Incidence of Cancer and Other Target Diseases Drives Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 11, 2019--
The “Anatomic Pathology Market by Product & Service (Instruments (Tissue Processing Systems, Microtomes), Consumables (Antibodies), Histopathology), Application (Disease Diagnosis (Cancer (Gastrointestinal)), End User (Hospital, Lab) - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The anatomic pathology market is projected to reach a value of USD 44.4 billion by 2024 from USD 33.0 billion in 2019, at a CAGR of 6.1% during the forecast period.
The growth in this market is attributed to the high incidence of cancer and other target diseases, availability of reimbursement, and the growing focus on personalized medicine.
In addition, emerging economies such as China, India, and Brazil are expected to offer significant growth opportunities for players operating in the anatomic pathology market during the forecast period. However, the availability of refurbished products, the lack of skilled professionals, and product recalls are expected to hamper the market growth to a certain extent in the coming years.
Disease diagnosis segment accounted for the larger share of the anatomic pathology market, by application, in 2018
Based on application, the anatomic pathology market is segmented into disease diagnosis and medical research. In 2018, the disease diagnosis segment accounted for the larger market share, due to the rapid growth in the geriatric population and the increasing incidence of cancer and other chronic diseases.
Hospital laboratories to register the highest growth in the anatomic pathology market during the forecast period
Based on end-user, the anatomic pathology market is segmented into clinical laboratories, hospital laboratories, and other end users. The hospital laboratories segment accounted for the largest market share in 2018 and is projected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing number of patient visits to hospitals, a growing number of in-house diagnostic procedures performed in hospitals, growing awareness regarding early disease diagnosis, and the availability of reimbursements in developed markets for clinical tests performed in hospitals.
North America will continue to dominate the anatomic pathology market during the forecast period
Geographically, the anatomic pathology market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2018, North America accounted for the largest market share, followed by Europe. Factors such as the rising prevalence of chronic diseases, increasing healthcare expenditure, the high-quality infrastructure for hospitals and clinical laboratories, and the presence of major market players in the region are driving the growth of the anatomic pathology market in North America.
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INDUSTRY KEYWORD: HEALTH ONCOLOGY
SOURCE: Research and Markets
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PUB: 11/11/2019 10:46 AM/DISC: 11/11/2019 10:46 AM