Acumen Research and Consulting, recently published report “Pathological Examination Market - Global Industry Analysis, Size, Share and Forecast, 2019 - 2026”.
LOS ANGELES, May 10, 2019 (GLOBE NEWSWIRE) -- The global is estimated to grow at CAGR above 12 % over the forecast time frame 2019-2026 and reach the market value around USD 440 billion by 2026.
Due to its application in better treatment and care and effective diagnosis using digital pathologies to aid prevention of several infectious and other forms of disease in geriatric and pediatric communities, the global phenotyping market has become more attractive to the healthcare community. Recent developments such as product launches and approvals and market collaborations and partnerships between key players promote the growth of the market.
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Pathology is a study that examines bodily fluids like blood, urine, organ, or tissues to diagnose illnesses. It identifies the causes, mechanisms and extent of the disease that helps further in treating disease decisions. The growth of the market is driven by factors such as an increase in chronic disease prevalence and a high focus on early diagnoses. The global pathologic examination market growth is nevertheless expected to be reduced by the lack of pathologists.
Types, applications, and regions are the basis of the global pathology examination market. Based on type, traditional pathology and digital pathology are transformed into markets. The largest method used in the field of pathological examinations is traditional pathology. The market is split into digestive organs and other applications on the basis of application the fastest growing segment is Other applications. The North America, Europe, Asia and the Rest of the World, segments the market on a regional basis.
The market grew with pathology testing in 2018, due to the increase in the prevalence of several infectious diseases worldwide. Moreover, growth and awareness of the geriatric population will stimulate market growth. The market growth during the forecast period, however, is expected to reduce a lack of compensation policy and a decline in skilled and skilled health professionals.
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A world-wide market has been generated for pathological examinations by pathology testing services such as anatomical pathology, surgical pathology, cytopathology and clinical pathology. These services are provided for several applications with gyneological, gastrointestinal, genitourinary, lung, blood and lymph nodes.
Market Insights
Due to its future advantages and expected adoption, the digital disease sector is expected to grow by 15 per cent at the highest CAGR over the forecast period. The other applications are expected to show the fastest growth rate of 13.0% during the forecast period, depending on their application. This is because pathology for the diagnosis and treatment of various diseases like cancer, gynecology and diabetes is highly adopted. The United States was the largest contributor to the global pathology market, with over 50 percent of the total market share in 2018. Asia-Pacific is, however, expected to grow at the highest rate as the population is rising, the disease prevalence is high and the healthcare markets are growing.
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Regional Stance
The largest US market in 2018, with over half its market share expected to acquire and dominate by 2026. This is the responsibility for early diagnostic, a high purchasing capacity, widespread access to state-of - the-art technology and improved regional repayment strategies. In Asia, however, 15.2 per cent would be the fastest CAGR during the forecast period. As a result, chronic disease incidence is increased, health infrastructure development has been developed, health care awareness increased and early diagnosis awareness increased. The report analyzes regions such as Europe and the world.
Key Players & Strategies
The research includes Quest Diagnostics, Inc., Sonic Healthcare Limited, Spectra Labs, Diagnostic Pathology Services, Inc., Q2 Solutions, Histo-Scientific Research Laboratorys, among other leading market players analyzed. These players in the markets have adopted several strategies for gaining a strong position in the industry, including collaborations, joint companies, partnerships, expansions and others.
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