The latest market report published by Credence Research, Inc. “Anatomic Pathology Market – Growth, Future Prospects,and Competitive Analysis,2017- 2025,” the global anatomic pathologymarket was valued at US$ 16,575.62 in 2016, and is expected to reach US$ 27,265.07Mn by 2025 expanding at a CAGR of 5.5%from 2017to 2025.
Browse the full report Anatomic PathologyMarket – Growth, Future Prospects, and Competitive Analysis, 2017 – 2025 at http://www.credenceresearch.com/report/anatomic-pathology-market
In the last few decades, sophisticated diagnosis such as cytopathology and histopathology were labor intensive and resulted in inaccurate diagnosis; however, they have undergone technological advancement to provide accurate, complete diagnosis and results within shorter lead time. In the base year 2016, services dominated the global anatomic pathology market chiefly due to factors such as increasing patient pool suffering with critical illness and need for detailed diagnosis to determine treatment regimen in cases of drug resistance. Instruments will be the fastest growing segment throughout the forecast period 2017-2025 due to technological advancement in the device design and operating software, inbuilt features such as high resolution, real time image capture, large sample analysis helping in effective diagnosis making it less labor intensive and requirement of single skilled person to interpret the diagnosis.
In terms of applications, disease diagnosis held the largest market share in base year 2016 chiefly due to factors such as rising prevalence of lifestyle diseases such as cardiovascular diseases, diabetes, COPD, arthritis; andchronic disease risk associated with sedentary lifestyle, smoking, stress and ill eating habits such as preference for junk food. Drug discovery and development will be the fastest growing market throughout the forecast period 2017-2025, the factors that will propel its growth is rising prevalence of drug resistance, drug adverse events and need for vaccines for diseases such as influenza, cholera, ebola and swine flu, which are epidemic and immediately life threatening.
In 2016, North America held the largest revenue share chiefly due to factors such as rising prevalence of chronic diseases, existence of advanced healthcare infrastructure and affordable reimbursement policies. Asia Pacific will register faster growth throughout the forecast period 2017-2025, chiefly due to factors such as rising public awareness regarding critical illness leading to early diagnosis and treatment, aging population, and growing presence of key players involved in the manufacture of anatomic pathology devices and growing disposable income.
The anatomic pathology market is technologically driven and includes major players such as Abbott Laboratories, Inc., Agilent Technologies, Inc., Boston Scientific Corporation, Danaher Corporation, Thermo Fisher Scientific, Inc.etc.
Key Market Movements:
– Escalating prevalence of chronic diseases
– Technological advancement in pharmacogenomics and rising demand for personalized medication
– Increasing government and non-government spending to prevent and manage chronic diseases and promote health
– Affordable reimbursement scenario