The Global Pathological Examination Market size is estimated to be USD 186.23 billion in 2019 and is predicted to reach USD 654.20 billion by 2030 with a CAGR of 12.1% from 2020-2030. Pathological Examination is a diagnostics procedure which involves the study of body fluids such as blood, urine, tissues and others. This examination helps to identify the disease and its extent, cause and response of the body which helps in the proper treatment of the particular condition. Pathological examination also helps in the medical research for the drug development.
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The developing healthcare facilities and increased public awareness are expected to anticipate the market growth over the forecast period. Furthermore, increased prevalence of various chronic disorders such as cancer, diabetes, and others are also expected to fuel the growth of pathological examination market.
There are various other factors driving the growth of pathological examination market include increased demand for early diagnosis of disease, increasing pathology laboratories and increased investment in the pathology. Furthermore, increased prevalence of various infectious diseases on a global level is expected to propel the market growth. Moreover, increased in research activities are further expected to create lucrative opportunities in the market. However, lack of skilled pathologist is expected to hamper the growth of pathological examination market in the near future.
Market Segmentations and Scope of the Study:
The global pathological examination market share is analyzed on the basis of type, application, end user and geography. On the basis of type, the market is segmented into conventional pathology and digital pathology. On the basis of application, the market is divided into digestive organs, blood and others. On the basis of end users, the market is divided into hospitals, clinics and Ambulatory Surgical Centers. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America represents the developed market and accounts for the major market share over the forecast period. Due to the presence of develop healthcare infrastructure, increased public awareness and increased prevalence of various chronic disorders and increased demand of early diagnosis promote the growth of pathological examination market.
Asia Pacific is expected to develop rapidly and maintain its dominance over the forecast period owing to the presence of developing economies such as India, China and others. Furthermore, increased prevalence of chronic disorders and tremendous increase in pathology laboratories due to the high demand of early diagnosis and increasing public awareness and others are anticipate the growth of pathological examination market.
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The pathological examination market is highly competitive in nature and there are various players available in the market and trying their best to attain the highest market share. Some of the key players include Quest Diagnostics, Fresenius Medical Care (Spectra Laboratories), Q2 Solutions, Sonic Healthcare, Histo-Scientific Research Laboratories and Pathologists Diagnostic Services among others.
There has been various developments have taken place in the market and these developments also helps in the growth of market. Some of the recent developments are In July 2019, Quest Diagnostics has announced the expansion of the Global Diagnostics Network (GDN), a strategic working group of major diagnostic laboratories collaborating to generate enhanced diagnostics insights to improve the delivery of global healthcare.
In July 2019, Catholic Health Services (CHS), is teaming up with Quest Diagnostics to enhance the quality and value of diagnostic services to patients and their doctors. Within the new partnership, Quest will provide laboratory and supply chain expertise, as well as perform laboratory reference testing.