Anatomic pathology refers to the gross and microscopic examination of organs, tissues, cells, and bodily fluids for the diagnosis and management of cancers and other diseases. Digital pathology solutions are transforming the traditional practice of anatomic pathology by providing fast diagnosis of diseases through digital slides and integration of artificial intelligence and machine learning algorithms to increase efficiency and accuracy. The global anatomic pathology market is dominated by the demand for precision diagnosis of cancer. Advanced digital pathology solutions have enabled seamless collaboration between pathologists located at different sites for cancer diagnosis and clinical decision making. The global Anatomic Pathology Market is estimated to be valued at US$ 30.16 Bn in 2023 and is expected to exhibit a CAGR of 15.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the Anatomic Pathology Market Size is increasing adoption of digital pathology solutions. Traditionally, microscopic slide image evaluation for cancer diagnosis was carried out manually by pathologists which was time consuming and labor intensive. Digital pathology allows fast remote diagnosis of cancers through digital slides. It also enables integrating artificial intelligence algorithms for computer-aided disease diagnosis. This is enhancing efficiency and diagnostic accuracy of pathologists. Another key trend is concentration of anatomic pathology market players on development of multispectral pathology solutions which combine brightfield, fluorescence, and hyperspectral imaging modes to enable comprehensive tissue evaluation. This is finding increasing usage in cancer diagnostics and biomarker discovery programs. Increasing incidence of cancer owing to changing lifestyle habits is expected to drive the demand for advanced digital pathology solutions to facilitate precision oncology over the forecast period.
Porter’s Analysis
Threat of new entrants: Low economies of scale in the fragmented nature of this market limits threat of new entrants. However, companies with technological expertise and financial resources can enter this market.
Bargaining power of buyers: Individual customers have low bargaining power due to high costs of switching to another provider. However, large diagnostic laboratories and hospital networks have significant bargaining power.
Bargaining power of suppliers: Suppliers of reagents and instruments have considerable bargaining power due to proprietary technologies and product differentiation. However, fragmented supplier base limits individual influence.
Threat of new substitutes: Limited threat as there are few alternatives to tissue-based disease diagnosis. However, alternatives like liquid biopsy are gaining traction.
Competitive rivalry: Intense competition among numerous global and regional players. Companies compete based on test accuracy, turnaround time, price, and service.
Key Takeaways
The global anatomic pathology market is expected to witness high growth.
Regional Analysis: North America currently dominates the market due to high healthcare spending and increasing prevalence of chronic diseases. Moreover, growing demand for cancer diagnostics is fueling growth in the region.
Key players operating in the anatomic pathology market are American Art Therapy Association, Art Therapy Without Borders, Art With Impact, Canadian Art Therapy Association, Creative Growth Art Center, Expressive Media, International Expressive Arts Therapy Association, Luna Children’s Charity, Montage Arts Therapy, National Institute for Trauma and Loss in Children.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
