LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global pathology instruments market provides an analysis of the most important drivers expected to impact the market outlook from 2018-2022. Technavio defines a prominent driver as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global pathology instruments market is expected to reach 3.7 billion USD by 2022. The increasing product promotion activities is a major trend in the market.
The vendors in the global pathology instruments market cannot solely rely on direct sales force activities to ensure constant sales growth. They must explore other ways to promote their products. Many key vendors have resorted to the use of digital media to improve product awareness, project brand image, and increase product reach. These vendors have dedicated YouTube channels and official company pages on Twitter through which they upload interactive videos and promote products. Vendors engage end-users to their products and highlight their relevance through informative videos and detailed infographics through these digital media platforms.
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In this report, Technavio highlights the growing incidence and prevalence of cancer as one of the key factors driving the global pathology instruments market:
Growing incidence and prevalence of cancer
Cancer is among the top five causes of death across all age groups globally. There are several types of cancer that contribute to a significant number of deaths across all regions. However, the low and middle-income countries (LMICs) are the worst affected. In LMICs, the most common types of cancer include those caused by tobacco, such as cancer of the lung, mouth, throat, bladder, kidney, and colon among others. It also includes two vaccine-preventable cancers such as liver cancer caused by the hepatitis B virus and cervical cancer caused by the human papillomavirus. However, many of these are effectively curable, particularly when diagnosed in the early stages.
Pathology instruments are usually based on principles of detection such as IHC and ISH that result in a highly accurate diagnosis of the disease. While many early-stage cancers can be cured by surgery alone, for others, the cure is possible only when some other modifications are added. If that becomes the case, starting treatment with less than a full complement can mean imposing harm without much benefit. A major obstacle in cancer control is the large proportion of cancer identified at late stages in LMICs when cure is impossible even with advanced treatment.
“The importance of early diagnosis can be established from the fact that multiple lives affected by cancer could be saved each year as early diagnosis aids doctors in assessing a patient's condition better and plan a treatment regimen that is likely to save the individual's life by stopping the growth of cancerous cells at an early stage. The infrastructure for proper diagnosis is not consistently adequate across the globe. This necessitates the need for techniques that can be utilized and developed for fast and accurate diagnosis of cancer,” says a senior analyst at Technavio for research on lab equipment.
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Global pathology instruments market segmentation
This market research report segments the global pathology instruments market into the following applications (diagnostics and drug discovery) and key regions (the Americas, APAC, and EMEA).
The diagnostics segment held the largest market share in 2017, accounting for over 57% of the market. However, the market share for this application is expected to decrease slightly by 2022.
The Americas was the leading region for the global pathology instruments market in 2017, accounting for a market share of more than 49%. The market share for this region is expected to decrease to some extent by 2022. However, this region will dominate the market throughout the forecast period.
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