The global Anatomic Pathology Market is estimated to be valued at US$ 30.16 billion in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Immunohistochemistry (IHC) is a technique used to visualize protein biomarkers in cells and tissues using the principle of antigen-antibody binding. IHC testing supports diagnosis and classification of disease conditions including cancer. Sample prepared slides are exposed to carefully selected antibody-enzyme conjugates which bind to the targeted antigen. This process helps in diagnosing various diseases through visualization of biomarkers associated with disease onset and progression.
Market key trends:
Digital pathology is gaining traction in anatomic pathology due to advantages like whole slide scanning and imaging which allows remote viewing and analysis of slides. Digital pathology solutions help in integrating imaging systems, storage solutions and analysis software for pathologists. This eliminates the need to physically examine glass slides under microscope. Digital pathology is improving workflow efficiency in laboratories and supporting virtual consultations. Transition to digital imaging solutions is a major trend in anatomic pathology market.
Market key trends:
The Anatomic Pathology market is witnessing increased adoption of digital pathology and AI-based image analysis technologies. Digital pathology uses digital slide images instead of physical slides to enable remote diagnosis. AI-based image analysis helps pathologists in tasks like primary diagnosis, secondary consultations, and eliminating diagnostic errors. More pathologists and laboratories are getting digitally transformed to improve workflow efficiency, reduce diagnosis turnaround time, enable conveniences like virtual consultations, and provide centralized expert review.
SWOT Analysis
Strengths: Digital pathology platforms enable remote diagnosis, consultation, and tumor boards. This improves accessibility of expert opinions.
Weaknesses: High upfront investment required for digital pathology transition. AI solutions have limitations and require training on large curated datasets.
Opportunities: Growth in cancer prevalence increases diagnostic sample volume. Teleradiology and AI can help address shortages in sub-specialized pathologists.
Threats: Data privacy and security concerns around digitized healthcare data. Reimbursement and regulatory challenges for new digital/AI solutions.
Key Takeaways
The global Global Anatomic Pathology Market size was valued at US$ 30.16 billion in 2023. The market is expected to grow at a robust CAGR of 8.7% during the forecast period to reach a value of ~US$ 55 billion by 2030.
The market is driven by the growing geriatric population prone to chronic diseases and cancer. As per WHO, globally cancer burden is expected to rise by ~50% to reach 27 million new cancer cases by 2040. This will fuel the need for increased diagnostic screening and biopsies supported by anatomic pathology.
Regionally, North America dominates the market currently owing to supportive government policies for digital pathology adoption. However, Asia Pacific is expected to witness the highest CAGR during the forecast period supported by improving healthcare infrastructure, rising medical tourism, and focus on cancer therapy in countries like China and India.
Key players operating in the Anatomic Pathology market are Thermo Fisher Scientific, F. Hoffman-La Roche AG, Agilent Technologies, Danaher Corporation, Quest Diagnostics, Inc., Biocartis NV, and Sakura FineTechnical Co., Ltd. Major players are focusing on product launches and partnerships to expand their digital and AI-based solutions portfolio.
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