Molecular Pathology and Genomic Testing: Market Outlook By 2022 to 2030

BySanket Badgujar
Market Research

Through the analysis of tissue samples to recognise and comprehend distinct pathological situations, the field of anatomic pathology plays a significant role in the diagnosis and treatment of disease. The Anatomic Pathology Market has shown significant growth and development due to technology improvements and rising demand for precise diagnostic solutions. This blog examines the anatomic pathology market’s current position, key drivers, difficulties, and attractive growth prospects.

The prevalence of chronic diseases like cancer, cardiovascular problems, and infectious diseases is on the rise, which has been a major driver of the anatomic pathology industry. Advanced techniques including immunohistochemistry, digital pathology, and molecular pathology have been used because accurate and effective diagnostic tools are required. This has allowed for more accurate disease characterization and individualised therapy options.

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The expected size of the global anatomic pathology market in 2022 was US$ 32.5 million, and by the end of 2030, it is projected to have grown to US$ 61.1 million, with a strong CAGR of 8.2%. The increased usage of anatomic pathology in illness diagnosis and the development of new drugs is what is fueling the growth of the worldwide anatomic pathology market. The global anatomic pathology market is expected to produce sales of US$ 61.1 million by 2030, according to a recent industry report by Future Market Insights (FMI), an ESOMAR-certified market research firm.

The anatomic pathology market has many prospects for expansion, but it also has some difficulties. These include the high cost of cutting-edge diagnostic tools, the scarcity of experts with the necessary skills, and onerous regulatory restrictions. However, remote diagnostics have become possible thanks to the growing use of digital pathology and telepathology systems, making it possible to receive professional opinions and lighten the workload for pathologists.

Key Takeaways:

  • The instruments are subject to technological advancements, which would minimize errors. This factor is expected to drive the anatomic pathology market between 2022 and 2030
  • Consumables are expected to hold the largest market share due to low cost, high availability, and good purchase rate of probes and reagents
  • Academic research is bound to pick up pace in the forecast period owing to growing implementation of anatomic pathology in biomarker profiling and tumor examination
  • Preference to personalized therapies is prompting putative biomarkers being discovered. This factor is expected to be one of the key growth drivers

 “The anatomic pathology market is witnessing a continuous upswing on the part of biomarkers. This factor is expected to propel the development of anatomic pathology market” – says the FMI analyst.

Key Participant Insights:

The key market players are focusing on technological upgradations and expansion strategies to keep themselves fiercely competitive.

For instance:

  • In Jul 2020, Bio SB tabled its Fast Mohs PolyDetector Plus Detection System, which comes across as a super sensitive nonbiotin monovalent Fab micropolymer immunohistochemistry system to detect IVD antibodies for squamous cell carcinoma, basal cell carcinoma, and melanoma.
  • In Jan 2019, Quest Diagnostics announced completion of acquisition of the US laboratory services business that belonged to Oxford Immunotec (the T-Spot and Accutix tick-borne disease testing services, since then, are part of Quest’s infectious disease testing services.
  • In 2018, Leica Microsystems entered into a collaboration with Thermo Fisher to develop an integrated cryotomography workflow with regards to research.

Key companies profiled:

  • Laboratory Corporation of America Holdings
  • Sakura Finetek USA, Inc.
  • F.Hoffmann-La Roche AG
  • Cardinal Health, Inc.
  • BioGenex
  • NeoGenomics
  • Agilent Technologies

The US continues to be one of the leading markets for anatomic pathology market globally. Strong presence of some of the leading players, combined with relatively easier funding for R&D will drive the US anatomic pathology market during the assessment period.

The Europe anatomic pathology market is also likely to grow at a brisk pace during the assessment period. The growth will remain concentrated in Western Europe, as has been the case traditionally.

Asia Pacific represents a high growth market for anatomic pathology stakeholders. Many countries in the region are renewing their focus on healthcare, as the current Covid-19 crisis has reinforced the necessity of a robust healthcare system.

Key Segments of Anatomic Pathology Industry Survey

Anatomic Pathology Market by Product & Service:

  • Anatomic Pathology Instruments
  • Anatomic Pathology Consumables
  • Anatomic Pathology Services

Anatomic Pathology Market by Application:

  • Disease Diagnosis
  • Drug Discovery and Development
  • Others

Anatomic Pathology Market by End User:

  • Hospitals
  • Research Laboratories
  • Diagnostic Laboratories
  • Others