LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global anatomic pathology testing market size is projected to grow to USD 11.57 billion by 2021, at a CAGR of more than 8% over the forecast period.
This research report titled ‘Global Anatomic Pathology Testing Market 2017-2021’ provides an in-depth analysis of the market in terms of products (instruments and imaging systems; and consumables and accessories), application (breast cancer, lung cancer, colorectal cancer, lymphoma, cervical cancer, and prostate cancer), end-user (hospitals and physicians’ office laboratories), and geography (the Americas, EMEA, and APAC).
The anatomic pathology testing helps in identifying abnormalities in tissue or cell lines and develops personalized care treatment. The Americas is expected to generate the highest revenue and maximum incremental growth in the anatomic pathology testing market over the forecast period, driven by the increased funding to research institutes for studying personalized medicines.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global anatomic pathology testing market:
- Use of biomarkers for disease diagnostics and increasing efficiency
- Growing prevalence of cancer in demographics
- Paradigm shift toward precision diagnostics through personalized medicine
Use of biomarkers for disease diagnostics and increasing efficiency
Genomic biomarkers are used to evaluate pharmacological, physiological, and disease processes required for various clinical studies in proteomics, genomics, transcriptomics, metabolomics, and microbiology labs. Biomarkers such as keratins, vimentin, S100protein, CD45, CD3, CD20, and CD30 are popularly used for cancer diagnostics in lab tests.
“The analysis of these biomarkers in lab tests aid in disease prognosis, elucidation of related pathways, and identifying possible treatments. The rise in the volume of biomarker analysis for various disease diagnosis processes will lead to the use and sales of tissue diagnostic products,” says Srinivas Sashidhar, a lead analyst at Technavio for in-vitro diagnostics research.
Growing prevalence of cancer in demographics
People aged above 60 are more susceptible to chronic diseases such as cancer and cardiovascular diseases. Currently, the number of individuals in the said age group are higher than at any other point in history, resulting in increasing demand for the effective screening tools for these diseases. The early diagnosis and constant monitoring of individuals are essential to identify, treat, and manage the spread of these diseases. Vendors in the market are responding to this demand by introducing tissue diagnostic products, including instruments, testing kits, and reagents. Also, several governments are undertaking early diagnosis programs, which is directly impacting market growth.
Paradigm shift toward precision diagnostics through personalized medicine
“Personalized medicine is tailor-made for the individual under treatment based on their pathology and physiology, resulting in enhanced healthcare. Anatomic pathology tests are carried out to understand the individual’s cellular framework, aiding in the development of personalized treatment,” explains Srinivas.
Personalized medicine is prepared based on the study of the defective proteins and genes extracted from tissues identified during the pathology tests. Currently, these medicines are in high demand, as it involves better patient management and enables individualized treatment through diagnostic tests for real-time and rapid results.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Abbott Diagnostics
- Agilent Technologies
- Roche Diagnostics
- Thermo Fisher Scientific
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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