Anatomical Pathology Market Latest Trends, Size, Share, Type, Key Players Forecast 2022-2028

According to Precision Business Insights (PBI) latest report, the anatomical pathology market is expected to be worth USD 20,294.9 million in 2022, growing at an 8.3% CAGR from 2022 to 2028. Increased clinical use of biomarkers allows pathologists to understand disease causation at the molecular level better, guiding clinical decision-making and improving patient outcomes. The driving factor for the market is the increasing use of biomarker-based pathology tests and methods to investigate common malignancies and tumors. The COVID-19 epidemic is propelling whole-slide imaging, digital pathology, and telepathology forward. Pathologists have been able to work due to digital pathology remotely, increasing their productivity and allowing them to catch up on case backlogs. In past years, the rate of adoption of these technologies has accelerated. The COVID-19 epidemic has accelerated adoption, boosting market growth.

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Hospital Segment to Dominate the Anatomical Pathology Market:
The hospital segment is expected to account for a larger revenue share in the global anatomical pathology market, with a value share of 67.3% worldwide. It is projected to grow at a 5.7% CAGR between 2022 and 2028. Because of the high hospitalization rate of cancer patients and the large number of frequent readmissions in hospitals, hospitals are projected to dominate the market. Furthermore, the existence of well-developed infrastructure and well-trained people in hospital-based pathological laboratories promotes the hospital segment's progression. The category is also likely to benefit from a growing number of public and commercial efforts to promote innovative healthcare systems. Growing patient visits to hospitals, increased in-house diagnostic tests performed at hospitals, rising awareness about early disease diagnosis, and payments for clinical testing performed at hospitals in developed markets are all helping the industry grow.

Europe Anatomical Pathology Market:
The Europe market is expected to hold a significant market share in the global anatomical pathology market over the forecast period. It is projected to grow at a CAGR of 8.1% in the coming years. The German Pathologists' Association has suggested harsh limits for the country. This is crucial for IT professionals, pathologists, and researchers to use daily. Technology advances are also likely to support market expansion. Pathology laboratory scientists will accelerate the demand for pathology services in the EU, with Germany taking the lead due to its established healthcare system. The prevalence of cancer and chronic disorders aids the country's market expansion.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global anatomical pathology market further reveals that the key players are increasingly adopting strategies such as launching newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In April 2021, Royal Philips partnered with Ibex Medical Analytics, a business that specializes in AI-based cancer diagnoses, to promote AI-based digital pathology adoption. Both companies pooled their resources to create cutting-edge products for pathologists.

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The anatomical pathology market is segmented based on product & services, application, end-use and geography.
Based on the product and services, the market is segmented into the following:
• Services
• Instruments
• Consumables
• Antibodies
• Kits & Reagents
• Probes
• Other Consumables

Based on the application, the market is segmented into the following:
• Disease Diagnosis
• Drug Discovery
• Development and Others

Based on the end-user, the market is segmented into the following:
• Hospitals
• Research Laboratories
• Diagnostic Laboratories
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the anatomical pathology market report are Danaher Corporation, PHC Holdings Corporation, Quest Diagnostics Incorporated, Laboratory Corporation of America Holdings, F. Hoffmann-La Roche AG, Agilent Technologies, Inc., Cardinal Health, Sakura Finetek USA, Inc., NeoGenomics Laboratories, Inc., BioGenex, and Bio SB.

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