(PharmaNewsWire.Com, May 25, 2021 ) The 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”, the 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 by 2023.
The increasing volume of diagnostic tests performed in anatomic pathology laboratories and the increasing number of legal cases around cancer misdiagnosis are the major factors driving the growth of this market. Also, the integration of laboratory information systems with track and trace pathology systems is expected to offer significant growth opportunities for leading players operating in the anatomic pathology track and trace solutions market in the coming years.
Slide tracking segment is expected to register the highest CAGR in the anatomic pathology market.
Based on application, 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.
Geographical View in-detailed:
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.
Global Key Leaders:
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).
Thermo Fisher Scientific accounted for the largest share of the global anatomic pathology track and trace solutions market in 2017. The company offers track and trace solutions for anatomic pathology laboratories through its Specialty Diagnostics segment. Thermo Fisher operates in over 50 countries across North America, the Asia Pacific, Europe, and Latin America. Over the years, the company has maintained its leading position in the market through continuous innovation and product development. For instance, in May 2015, the company launched two new cassette and slide labeling systems, namely, the SlideMate slide printer and PrintMate AS cassette printer for anatomic pathology laboratories. Thermo Fisher’s wide product offerings along with a strong geographical network help it to maintain its leading position in the market.
Leica Biosystems held the second position in the global anatomic pathology 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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