(PharmaNewsWire.Com, February 26, 2018 ) The global anatomic pathology market is segmented on the basis of product & service and application. Anatomic pathology involves the diagnosis of various types of cancer, infectious diseases, and medical conditions through the examination of cells and tissue samples, which are collected from patients through biopsy. The market is witnessing high growth due to factors such as increasing prevalence of chronic diseases, growing aging population, and increasing healthcare expenditure.
The 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%.
On the basis of product and service, the market is segmented into instruments, consumables, and 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.
On the basis of application, the anatomic pathology market is segmented into disease diagnosis, drug discovery & development, and others applications. In 2016, the disease diagnosis segment accounted for the largest share of the market. The growth in this segment primarily attributed to increasing prevalence of chronic diseases.
Based on region, the global market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). The market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). However, the Asian region is expected to witness the highest growth 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.
Key players operating in the anatomic pathology market include 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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