(PharmaNewsWire.Com, February 04, 2021 ) According to the new market research report “Anatomic Pathology Track and Trace Solutions Market by Product (Software, Hardware (Printer & Labeling Systems), Consumables), Technology (Barcode, RFID), Application (Tissue Cassette, Slide Tracking), End User (Hospital Labs) – Global Forecast” published by MarketsandMarkets™.
The Anatomic Pathology Track and Trace Solutions Market is estimated to grow at a CAGR of 10.4% during the forecast period to reach USD 695.7 million.
Growth Drivers in Depth:
# Increasing Volume of Diagnostic Tests Performed in Anatomic Pathology Laboratories
# Increasing Number of Legal Cases Around Cancer Misdiagnosis
# Increasing Consolidation Among Anatomic Pathology Laboratories
# Increasing Adoption of Automated Systems to Enhance Laboratory Efficiency
Global Growth Opportunities:
# Integration of Laboratory Information Systems With Track and Trace Pathology Systems
# Rapid Growth in the Emerging Markets of APAC and Latin America
On the basis of product, is broadly segmented into software, hardware, and consumables. In 2018, the software segment is expected to account for the largest share of this market. This can majorly be attributed to the growing need to automate the sample labeling process for reducing manual errors, increasing focus on improving the efficiency of anatomic laboratories, growing adoption of cloud-based LIMS, and the increasing workload in anatomic pathology laboratories.
Based on application, the anatomic pathology track and trace solutions market is segmented into slide tracking, tissue cassettes and blocks tracking, and specimen tracking. The slide tracking segment is estimated to register the highest CAGR during the forecast period primarily due to the implementation of tracking systems for reducing specimen identification errors and increasing workflow efficiency in anatomic pathology laboratories.
On the basis of technology, segmented into barcode and RFID. In 2018, the barcode segment is expected to account for a larger share of the market majorly due to the higher adoption of barcode systems among end users owing to their lower cost (as compared to RFID).
Geographical Scenario: North America is expected to account for the largest share of the anatomic pathology track and trace solutions market in 2018, followed by Europe. The increasing volume of diagnostic tests performed in anatomic pathology laboratories, easy accessibility to advanced technologies, growing demand for advanced cancer diagnostic testing and screening, favorable reimbursement scenario for anatomic pathology diagnostic tests, increasing healthcare expenditure, and the strong presence of leading market players in the region are the major factors responsible for the large share of North America in the anatomic pathology market.
The key players operating in the global anatomic pathology track and trace solutions market are Thermo Fisher Scientific (US), Leica Biosystems (Germany), General Data Healthcare (US), Ventana Medical Systems (US), Agilent Technologies (US), Sunquest Information Systems (US), Zebra Technologies Corporation (US), Primera Technology (US), Cerebrum Corporation (US), AP Easy Software Solutions (US), and LigoLab (US).
Leica Biosystems held the second position in the global track and trace solutions market in 2017. Leica Biosystems is a wholly owned subsidiary of Danaher Corporation (US). Over the years, the company has maintained its leading position in the market through continuous innovation and the launch of advanced products. For instance, in June 2017, Leica expanded its portfolio of slide identification products by adding the HistoCore PERMA S slide printing solution. The company is also focusing on inorganic growth strategies to increase its presence in the market. In the last three years, Leica Biosystems has entered into 6 strategic partnerships, collaborations, and agreements.
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