Anatomic Pathology Industry Analysis, Leading Players and Forecast Report, 2030

Valued at $17.4 billion in 2018, the global anatomic pathology market is predicted to reach a revenue of $24.3 billion by 2024. According to the forecast of P&S Intelligence, a market research company based in India, the market will exhibit a CAGR of 5.8% between 2019 and 2024. The prominent factors fueling the progress of the market are the rising prevalence of chronic diseases, the surging population of geriatric people, and rapid advancements and innovations in technologies.

As per the United Nations’ World Population Prospects, the total geriatric population in the world is predicted to triple from 2017 to 2050. In 2017, the population of geriatric people was 137 million and this number is predicted to increase to 425 million by 2050. Additionally, as per the reports of the World Health Organization (WHO), elderly people are highly vulnerable to various diseases such as depression, chronic obstructive pulmonary diseases, diabetes, organ failures, and dementia.

Apart from the aforementioned factor, the increasing incidence of chronic diseases such as heart diseases, kidney diseases, cancer, autoimmune diseases, and liver cirrhosis, is also propelling the growth of the anatomic pathology market. The occurrence rate of chronic diseases is skyrocketing in both low- and middle-income countries (LMICs) and high-income countries. According to the findings of the WHO, 9.6 million people all over the world lost their lives because of cancer in 2018.

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Furthermore, as per the WHO, nearly 70% of the cancer deaths occur in the low- and middle-income countries. Moreover, it was found that stroke caused 75% of the total deaths in the developing nations in 2020. The growing incidence of these diseases is pushing up the requirement for effective and quicker diagnosis methods. This is fueling the demand for anatomic pathology solutions. Depending on application, the anatomic pathology market is divided into drug discovery and disease diagnosis. 

Between these, the disease diagnosis category is predicted to register the highest and the fastest growth in the market in the future years. This will be because of the soaring geriatric population and the rising incidence of chronic ailments among patients. The anatomic pathology market is also classified, on the basis of end user, into hospitals and clinics, diagnostic laboratories, academic and research organizations, and ambulatory surgical centers. Amongst these, the diagnostic laboratories recorded the highest growth in the past.

Geographically, the anatomic pathology market is predicted to demonstrate the fastest growth in the Asia-Pacific (APAC) region in the forthcoming years. The main factors driving the advancement of the market in this region are the rising popularity of personalized medicine, the soaring investments being made by various private and public organizations in diagnostic research, the increasing number of patients suffering from various chronic diseases, and the expanding operations of the industry players in this region.

Hence, it can be safely said that the market will register huge expansion all over the world in the upcoming years, mainly because of the rising incidence of chronic diseases and the rising geriatric population in several countries around the world.

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.