The anatomic pathology market involves diagnosing diseases by studying tissues and cells removed or obtained from a patient’s body. This includes surgical pathology that examines surgically removed tissues to diagnose cancers or other conditions. It also comprises cytopathology where cells are inspected under a microscope and autopsy pathology. Anatomic pathology plays a crucial role in disease diagnosis and treatment decisions. Advancements in digital pathology, companion diagnostics, and artificial intelligence are driving innovation and demand in this market.
The Global Anatomic Pathology Market is estimated to be valued at US$ 34.75 Bn in 2024 and is expected to exhibit a CAGR of 15% over the forecast period from 2024 to 2031.
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, and National Institute for Trauma and Loss in Children.
Key Takeaways
Key players: 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, and National Institute for Trauma and Loss in Children are some of the prominent players in the Anatomic Pathology Market Growth. They are focusing on developing advanced diagnostics and digital solutions to gain a competitive edge.
Growing demand: The growing prevalence of cancer and other chronic diseases is driving the need for efficient diagnosis. This is fueling demand for anatomic pathology procedures and integrated diagnostic solutions. Furthermore, the growing geriatric population prone to targeted diseases is also propelling the anatomic pathology market.
Global expansion: Leading players are expanding their geographical footprint through collaborations and acquisitions. This allows them to cater to a wider patient pool worldwide. Meanwhile, increasing healthcare investments and infrastructure development in emerging nations are supporting the global expansion of the anatomic pathology market.
Market key trends
Digital pathology & AI: The incorporation of digital pathology solutions and artificial intelligence is a key trend. Digital pathology uses digital imaging to examine and diagnose samples remotely. AI is helping in automating tasks like sample analysis and report generation. This is boosting efficiency, productivity, and diagnostic accuracy.
Companion diagnostics: Companion diagnostics that provide information about a patient’s susceptibility to specific diseases or their response to particular treatments are gaining traction. This allows for personalized treatment pathways based on a patient’s molecular profile. It is expected to transform anatomic pathology.
Point-of-care testing: The demand for point-of-care or near-patient testing solutions is growing. This involves bringing the diagnostic process and tools closer to the patient. It helps offer real-time diagnostics and faster treatment initiation outside traditional centers. This trend is likely to shape the future of the anatomic pathology industry.
Porter’s Analysis
Threat of new entrants: High capital requirements and regulatory barriers pose threat of entry into the market.
Bargaining power of buyers: Large buyer groups have significant bargaining power due to consolidation in the healthcare industry.
Bargaining power of suppliers: Suppliers have moderate power due to differentiated products and services supplied to the market.
Threat of new substitutes: Substitute services pose minimal threat due low switching costs.
Competitive rivalry: Aggressive competition exists between numerous established market players.
Geographical Regions
North America holds the largest share of the anatomic pathology market in terms of value, owing to established healthcare infrastructure and supportive government initiatives. As per estimates, over 40% of the global market value is concentrated in the United States and Canada. Asia Pacific is poised to grow at the fastest pace during the forecast period. Increasing privatization of healthcare services and rising medical tourism in India and China are driving the regional market growth.
Geographical Regions
The Asia Pacific region is poised to witness the fastest growth in the anatomic pathology market during the forecast period. This can be attributed to rising healthcare expenditures, increasing awareness regarding disease diagnosis, and growing focus of key players on expanding their presence in emerging nations. Countries like India, Japan, and China are expected to significantly contribute to the regional market expansion between 2024 and 2030.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it