Anatomic Pathology Market Displaying Steady Growth across the World

Valuing $17.4 billion in 2018, the anatomic pathology market is predicted to grow to $24.3 billion in 2024.
By: P&S Intelligence
 
 
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* Anatomic Pathology Market

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* Health

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* New York City - New York - US

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NEW YORK - Sept. 14, 2020 - PRLog -- One of the biggest factors resulting in the increasing demand for anatomic pathology services across the world is the escalating prevalence of chronic diseases, such as hypertension, cancer, heart diseases, autoimmune diseases, liver cirrhosis, and kidney diseases, especially in low- and middle-income countries (LMICs). According to a report of the World Health Organization (WHO), 9.6 million people died from cancer across the world in 2018. Furthermore, the report also states that almost 70% of the deaths from cancer occur in LMICs, which, in turn, boosts the demand for anatomic pathology screening in these countries.

The other key factor responsible for the growth of the anatomic pathology market (https://www.psmarketresearch.com/market-analysis/anatomic-pathology-market) is the soaring geriatric population across the globe. As per the World Population Ageing published by the United Nations (UN), the global geriatric population is predicted to increase from 703 million in 2019 to 1.5 billion by 2050. Additionally, the WHO reports that the prevalence of chronic diseases, such as depression, diabetes, organ failure, dementia, and pulmonary diseases, increases with age, which further pushes the need for efficient diagnosis, thereby propelling the volume of pathological tests.

The biggest rage currently being witnessed in the anatomic pathology market is the heavy investments in the rapid development of new technologies, in order to speed up the disease diagnosis process. For instance, Greg Clark of the U.K. government announced in November 2018 that several consortium groups will together develop five new digital imaging and pathology centers, in various places in the U.K., such as Oxford, Glasgow, Leeds, Coventry, and London. The U.K. government, in order to make this possible, plans to invest $65 million from the Industrial Strategy Challenge Fund.

Therefore, it can be concluded that owing to the ballooning need for quick and effective diagnosis of chronic diseases and rapid technological advancements in the healthcare industry, the usage of anatomic pathology testing is set to observe huge growth in the coming years.

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