Market Analysis - Microbiology: Current Research (2020) Volume 4, Issue 3
Bringing to you Young Researchers Forum – Medical Science 2020 Announcement
Pathology covers each part of the patient’s mind, beginning from diagnostics advises and aversion. Pathologists engage with specialists, physicians, scientists, medical assistants, and medicinal services experts in clinics and General practitioner's surgeries to analyze, forestall and treat sickness.
The Worldwide Market of pathology is anticipated to $437 million by 2018 with a CAGR of 11.8% from 2013 to 2018. As indicated, there are 24,785 pathologists working with patients in Australia and it has reached revenue of 3 billion dollars with a compound annual growth rate of 1.6% between 2014 and 2019.
The key factors influencing the evolution of this market include increasing prevalence of cancer, increasing adoption of digital pathology to enhance lab efficiency, increasing initiatives by governments & industry players, ease of consultation, and mounting bids of digital pathology in medical development and companion diagnostics.
The worldwide market for anatomic pathology will possibly improve up at a consistent pace of 6.5% from 2017 to 2025, estimation of a report done by Transparency Market Research. At this pace, the market is anticipated from US$17,318.0 Mn in 2016 to US$30,314.5 Mn by the end of 2025.
It is estimated that the Europe Digital Pathology Market to hit $151m by 2021 from $62.3m in 2012. During the same period, the USA Digital Pathology Market will reach $205.67mn from $77.23mn at a CAGR of 17%. Among all the countries, North America will dominate the Digital Pathology market followed by Europe, Latin America and Asia Pacific. Asia Pacific will witness the fastest growth (at a CAGR of 13.4%) during the forecast period. Growth will be supported by the increased number of cancer patients, increased demand of novel patient care facilities and reduced laboratory expenses.
The global Digital Pathology market worth about $1.98bn in 2012 and is expected to hit $5.7 billion by 2020. Automation of the conventional pathology methods is the major driving force for this market, which leads to the improvements in workflow efficiency, efficiency in analysis. The other driving factor include fast and accuracy in results, availability of diagnostics facilities in the remote areas, cost reductions, reduction in procedural cost starting from delivery of slide to data. The major drawback is the strict regulatory approval process for the digital pathology systems. The other limiting factors are: digital pathology system integration cost, and standardization of technology and data interpretation format among countries. The Whole slide imaging (WSI) is the highest revenue generating segment in this arena with the highest growth potential.
This is attributed to the surging aging population and rising number of patients suffering from the chronic ailments. When segmented by end user, the anatomic pathology market is classified into diagnostic laboratories, ambulatory surgical centers, hospitals and clinics, and academic and research organizations. Among these, in 2018, diagnostic laboratories led the market with a share of 45.8%, followed by hospitals and clinics that held a 31.4% share. The reason behind this is that these laboratories are less expensive as compared to hospitals and clinics.
Digital pathology is increasingly being preferred by educational and training sectors for various education and training purposes. This is mainly because of its benefits, which include improved learning, standardization of study materials and enhanced accessibility to pathology information. In addition, the rising demand for online training facilities is further driving the need for digital pathology in various applications. Hence, the growing adoption of digital pathology in education and training will drive the growth of the market during the forecast period.
The Global Pathology market 2019 research provides a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Global Pathology market analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand Figures, cost, price, revenue and gross margins. For each manufacturer covered, this report analyzes their Pathology manufacturing sites, capacity, production, ex-factory price, revenue and market share in global market.
The report also focuses on global major leading industry players of Global Pathology market providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. This report focuses on Pathology volume and value at global level, regional level and company level. From a global perspective, this report represents overall Pathology market size by analyzing historical data and future prospect.
Pathology usage increases with an increase in the prevalence of diseases and with mounting diseased population. Pathology is used globally for applications influencing research by academic personalities, disease diagnosis in clinical and healthcare centers, and in the discovery of new drugs.
Disease Diagnosis which is recorded to be $11.9 billion in the year 2013 is about to reach $13.1 billion by 2019 with a developing CAGR of 1.6% between 2014 and 2019. Drug discovery is relied upon to reach $85.8 billion by 2022 from $54.7 billion by 2017 with a development in CAGR up to 9.4% from 2017 to 2022.