Why Are Diagnostic Laboratories Using Anatomic Pathology Products?

By Author: Pramod Kumar
Total Articles: 97
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The World Health Organization (WHO) estimates that nearly 1.28 billion people aged 30–79 years are currently living with hypertension, and nearly two-thirds of this population reside in low- and middle-income countries. The organization also reveals that nearly 17.9 million human lives were lost due to cardiovascular diseases (CVDs), such as heart attack and stroke, globally in 2019. Further, the International Agency for Research on Cancer (IARC) states that 19,292,789 people were diagnosed with cancer in 2020.

The market was valued at $17.4 billion in 2018 and it is projected to generate $24.3 billion revenue by 2024. The surging prevalence of chronic diseases is augmenting the demand for early and effective diagnosis of such diseases, which can be done through anatomic pathology products, techniques, and tests.

Moreover, the booming global population will also result in the large-scale adoption of anatomic pathology products, as old people are highly vulnerable to illnesses and medical conditions, such as organ failure, heart diseases, chronic obstructive pulmonary disease (COPD), dementia, and diabetes, which ...
... require efficient diagnosis and treatment. The diagnosis of these ailments through anatomic pathology helps medical professionals in planning the treatment for elderly patients. For instance, the United Nations Department of Economic and Social Affairs (UNDESA) forecasts that the number of individuals aged 65 years or more will rise from 727 million in 2020 to over 1.5 billion by 2050.

Various types of anatomic pathology products are used by academic and research organizations, ambulatory surgical centers (ASCs), diagnostic laboratories, and hospitals and clinics for disease diagnosis and drug discovery. The end users use the aforementioned products along with special staining, genetic testing, electron microscopy, and immunohistochemistry techniques to diagnose cancer, heart diseases, kidney diseases, and liver ailments. In recent years, diagnostic laboratories have emerged as the prominent users of such products as they offer surgical pathology, histopathology, and cytopathology tests at nominal prices.

Globally, the Asia-Pacific (APAC) anatomic pathology market is expected to demonstrate the fastest growth during the forecast period, owing to the widespread acceptance of personalized medicine, presence of a vast patient pool suffering from chronic illnesses, and hefty investments being made by the government and non-government organizations in diagnostic research activities in the region. Additionally, the increasing penetration of eminent market players offering advanced and innovative anatomic pathology instruments and consumables will also contribute to the market growth in the region.

Therefore, the rising cases of chronic ailments and burgeoning population of the elderly will facilitate the consumption of anatomic pathology products in the foreseeable future.

Report Description: https://www.psmarketresearch.com/market-analysis/anatomic-pathology-market

Pramod has around 7 years of experience in market research and consulting services for healthcare industry. He holds varied experience in market sizing and forecasting with varied models, competition landscape, consumer behavior analysis, opportunity analysis, product/company benchmarking, data mining and others. He has successfully delivered multiple projects on go-to-market strategies, pricing strategy, price point analysis, Business Expansion, market entry and exit, share analysis and others. Prior to joining P&S Intelligence, he worked with different research companies, including Transparency Market Research and MarketsandMarkets Pvt Ltd. Some of the projects delivered by him include Scar Treatment Market, Skin Replacement and Substitutes Market, and Energy-Based Aesthetic Devices Market.