Pathological Examination Market Size Forecast to Reach $378.4 Billion by 2026
Increasing Healthcare Expenditure and Technological Advancement Along With the New Innovations Are Likely to Aid the Market Growth of the Pathological Examination Market Report.
Hyderabad, India – July 7, 2021 /MarketersMedia/ —
Pathological Examination Market size is forecast to reach $378.4 billion by 2026, growing at a CAGR of 9.9% during the forecast period 2021-2026. Pathological examination is a complex process that involves many steps and is an important process for the infection, genetic abnormalities, and neoplasm. Course of care is decided by the physician by analyzing the information that is generated by the pathology examination and it plays a major role in determining the absence as well as presence of the Cancer. It also provides information regarding the selection of the best treatment option. Rising number of cases related to the disorders such as chronic lung illnesses, Malignancy, cardiac disease, and stroke among others & increasing mortality rate along with the emergence of the infectious diseases are the major factors driving the growth of the market. Increasing research & development activities and enhancing healthcare infrastructure is set to further enhance the overall market development of the Pathological Examination Market for the period 2021-2026.
Pathological Examination Market Segment Analysis – By Test
Digital Pathology held the largest share in the Pathological Examination Market in 2020 and is estimated to grow at a CAGR 10.6% during the forecast period 2021-2026. Digital pathology analyzes the digital images using a computer monitor or mobile devices and whole slide image scanner. It works similarly to the traditional standard light microscope that enables the pathologists to move slides around the same way. It has brought advancements for pathology lab efficiency, and revenue enhancements. The labs use computationally enabled digital pathology that is powered by artificial intelligence to help pathologists. It offers quantitative image analysis to integrate information into the lab information system. Digital Pathology are estimated to register the higher CAGR over the period 2021-2026.
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Pathological Examination Market Segment Analysis – By Service
Molecular Pathology held the largest share in the Pathological Examination Market in 2020 and is estimated to grow at a CAGR 10.9% during the forecast period 2021-2026.Molecular pathology is a discipline within pathology that focuses on the study and diagnosis of the diseases through the examination within the organs. It has some similar aspects with clinical pathology as well as anatomic pathology among others. It also focuses on the sub microscopic aspects of the disease so that more accurate data can be produced of the morphologic changes in tissues and molecular testing. It also encompasses the development of genetic and molecular approaches to the classification of human diseases and validation of the biomarkers for susceptibility of individuals to develop disorders. Molecular Pathology are estimated to register the higher CAGR over the period 2021-2026.
Pathological Examination Market Segment Analysis – By Geography
North America dominated the Pathological Examination Market with a major share of 41.3% in 2020. This is attributed to the early diagnosis and high purchasing capacity, Extensive availability of advanced technology, improved repayment strategies and high adoption of pathological examination trends for diagnosis and treatment of various disease such as Malignancy tumor registry abstractor is also increasing the growth of the market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the development of health infrastructures and increasing awareness of health care. Increasing awareness of early diagnosis is also increasing the growth of the market in this region.
Pathological Examination Market Drivers
Increasing Prevalence of Cardiovascular Diseases
Increasing prevalence of cardiovascular diseases is increasing the growth of the Pathological Examination Market. This is attributed to the development of the technologically advanced devices with extended longevity. Some of the major factors of cardiovascular disease includes unhealthy diet, and physical inactivity among others which raises the blood pressure and blood glucose causing overweight and obesity. According to WHO, Four out of 5 cardiovascular deaths are owing to heart attacks and strokes, and one third of these deaths occur prematurely in people under 70 years of age. Thus, increasing the growth of the Pathological Examination Market during the forecast period 2021-2026.
Technological Advancements
Technological advancements is increasing the growth of the Pathological Examination Market. Technological advancements has enabled the manufacturers to develop pharmaceutical dosage forms that contains an ingestible sensor inside the pill to transfer the data after consumptions. Increasing advancements in pathological examination has provided an opportunity to monitor the condition of patients, sends reminders to adhere to the respective prescribed treatment, and also notifies the healthcare status reports. Thus, increasing the growth of the Pathological Examination Market during the forecast period 2021-2026.
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Pathological Examination Market Challenges
Lack of Skilled and Trained Healthcare Professionals
Some of the factors that are set to impede the growth of the Autoimmune Disease Therapeutics Market are lack of skilled and trained healthcare professionals. High cost of pathological examination, shortage of pathologists, lack of compensation policy, and high initial investment is also set to hinder the growth of the market.
Pathological Examination Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Pathological Examination Market. In 2020, the Pathological Examination Market share is consolidated by the top ten players present in the market. The Pathological Examination Market, top 10 companies are Abbott Pathology, Danaher, Quest Diagnostics Pathology Services, Q2 Solutions, BioGenexm Merck KgaA, Diapeth, Agilent Technologies, and Bio SB among others.
Key Takeaways
North America dominated the Pathological Examination Market in 2020 owing to the wide availability of advanced technologies and favorable reimbursement policies.
Increasing healthcare expenditure and technological advancement along with the new innovations are likely to aid the market growth of the Pathological Examination Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Pathological Examination Market report.
Lack of skilled and trained healthcare professionals is poised to create the hurdles for the Autoimmune Disease Therapeutics Market.
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