According to the new market research report "Anatomic Pathology Market by Product Service (Instruments (Cell Processor, Microtome), Consumable, Histopathology, Cytopathology, Application (Disease Diagnosis (Cancer (Breast, Lung), End User (Hospital Laboratories), Region - Global Forecasts to 2026", published by MarketsandMarkets™, the market is projected to reach USD 49.1 billion by 2026 from USD 35.1 billion in 2021, at a CAGR of 7.0%.
Browse in-depth TOC on "Anatomic Pathology Market"
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Key Market Players
The major players in the anatomic pathology market are F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (US), and PHC Holdings Corporation (Japan).
Anatomic Pathology Market Dynamics
Drivers: High incidence of cancer and other target diseases
Cancer is the second-leading cause of death worldwide, accounting for 10 million deaths in 2020. Globally, about 1 in 6 deaths occur due to cancer (Source: World Health Organization). In 2020, 19.3 million new cancer cases were reported, and this figure is expected to increase to 30.2 million by 2040. This increase in the incidence of cancer can be attributed to the growing geriatric as well as the total population.
According to the World Population Ageing 2020 report, the global population aged 65 years and above was 727 million in 2020 and is expected to double by 2050 to reach 1.5 billion. Since the elderly are more susceptible to various diseases, this demographic trend is expected to result in a significant growth in the prevalence of several chronic diseases, including cancer, across the globe.
The incidence of cancer is the highest in developed regions; however, cancer mortality is relatively higher in underdeveloped regions due to a lack of access to treatment facilities and the late detection of cancer in several patients. According to the WHO, for many cancers, the incidence rate in countries with high or very high HDI1 is generally 2–3 times that of low- or medium-HDI countries. Approximately 70% of deaths due to cancer were reported in low-income and middle-income countries in 2018.
Opportunities: Increasing number of clinical trials pertaining to cancer drugs
Anatomic pathology products and services are used in oncology drug trials to analyze quantitative information, detect morphological structures, detect pharmacodynamic markers, and understand drug mechanisms. It is also used to stratify trial subjects based on the responses given by tissues to the drugs. Tissue diagnostics thus enable efficient trials and retrospective studies by reducing the cost and time involved in these processes. For example, in a Phase III study for Roche’s cancer immunotherapy—TECENTRIQ (atezolizumab)—the PD-L1 (programmed death-ligand 1) expression was assessed using an investigational immunohistochemistry (IHC) test, which was developed by Roche Tissue Diagnostics.
According to an article published by the Institute for Clinical Immuno-Oncology (ICLO) in 2017, there has been an increase in the number of oncology drug trials from 9,321 in 2006 to 18,400 in 2014.
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CHALLENGES: Availability of refurbished products
The availability of refurbished anatomic pathology instruments is a major challenge to the growth of this market. LabX (US), AL-TAR (US), Rankin Biomedical Corporation (US), and Swerdlick Medical Systems (US) are some companies offering refurbished anatomic pathology instruments such as tissue processors, staining systems, and microtomes. A number of end users—mainly small and medium-sized laboratories—look for cost-effectiveness and opt for refurbished systems, particularly in the price-sensitive markets in developing countries. Considering these factors, the demand for refurbished anatomic pathology instruments is expected to increase in the coming years, as these systems offer the same functionalities as new equipment at lower costs. This is expected to hamper the revenue of companies offering branded anatomic pathology instruments in the market.
North America dominates the anatomic pathology market
The global anatomic pathology market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World (RoW). In 2020, North America accounted for the largest share of the anatomic pathology market. Factors such as the rising prevalence of chronic diseases, increasing healthcare expenditure, the high-quality infrastructure for hospitals and clinical laboratories, and the presence of major market players in the region are driving the growth of the anatomic pathology market in North America.
Recent Developments:
- Hologic received premarket approval (PMA) from the FDA for its ThinPrep GenesisTM processor for cytology processing and specimen transfer for downstream applications.
- PHC Holding Corporation completed the acquisition of Thermo Fisher Scientific’s Anatomical Pathology business to strengthen its position in the diagnostics segment.
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