According to a new report published by Allied Market Research, titled,"Pathological Examination Market by Application, and Type: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,the global pathological examination market share was valued at $171 billion in 2017 and is expected to reach $438 billion by 2025, registering a CAGR of 12.3% from 2019 to 2025.
In terms of number of tests, the global pathological examination market size is expected to reach 65 billion by 2025, registering a CAGR of 8.0%.
Pathology is a study that involves diagnosis of diseases through examination of bodily fluids such as blood, urine as well as organs or tissues. It enables identification of the causes, mechanisms, and extent of disease that further helps in treatment decisions for a disease. The factors such as increase in prevalence of chronic diseases and high focus on early diagnosis of diseases drive the growth of the market. However, shortage of pathologists, is expected to restrict the global pathological examination market growth across the globe.
The digital pathology segment is expected to grow at the highest CAGR of 15.4% during the forecast period due to its advantages and expected adoption in the future.
Depending on application, the other applications segment is expected to exhibit the fastest growth rate of 13.0% during the forecast period. This is attributed to high adoption of pathological examination trends for diagnosis and treatment of various disease classes such as cancer, gynecology, and diabetes.
U.S. was the highest revenue contributor in the global pathological examination market, accounting for over 50% share of the total market in 2018. However, Asia is expected to grow at the highest rate due to massively increasing population, high prevalence of diseases, and growth in the healthcare market.
Key Findings of the Pathological Examination Market:
- U.S. occupied 53% share of the global pathological examination market in 2017.
- The digital pathology segment is anticipated to grow with the highest CAGR throughout the forecast period.
- The other applications segment is anticipated to grow at the highest rate during the analysis period.
Some of the major companies operating in this market include Quest Diagnostics, Inc., Sonic Healthcare Limited, Spectra Laboratories, Diagnostic Pathology Services, Inc., Q2 Solutions, and Histo-Scientific Research Laboratories.