PORTLAND, Oregon, April 24, 2019 /PRNewswire/ -- Allied Market
Research recently published a report, titled, Pathological
Examination Market by Type (Traditional Pathology and
Digital Pathology) and Application (Digestive Organs and Other
Applications): Global Opportunity Analysis and Industry Forecast,
2017 - 2025. The research offers a detailed analysis on
changing market dynamics, key investment pockets, major segments,
and market competition. According to the report, the global
pathological examination market generated $171.08 billion in 2017, and is expected to reach
$438.16 billion by 2025, growing at a
CAGR of 12.3% from 2019 to 2025.
Factors such as increase in prevalence of chronic diseases and
high focus on early diagnosis of diseases drive the market growth.
However, shortage of pathologists and skilled technicians restrains
the growth of the market. Conversely, use of digital pathology in
disease diagnosis create new opportunities for growth of the
market.
Other applications segment to be lucrative through
2025
Among applications, the other applications segment accounted for
more than three-fourths of the market share in 2017 and would
retain its dominance through 2025. The same would grow at the
fastest CAGR of 13% during the forecast period. This is due to the
high adoption of pathological examinations for diagnosis and
treatment of various disease classes such as cancer, gynecology,
and diabetes as well as increasing prevalence of chronic diseases
worldwide. The report also analyzes applications such as digestive
organs.
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Traditional segment to lead in terms of revenue through
2025
Among types, the traditional segment was the largest in 2017,
capturing 91% of the market share and would maintain its dominance
through 2025. However, the digital segment would grow at the
fastest CAGR of 15.4% from 2019 to 2025.
Asia to be the fastest
growing region through 2025
The market in the U.S. was the largest in 2017, grabbing more
than half of the market share and is likely to dominate the market
through 2025. This is due to early diagnosis, high purchasing
power, wide availability of advanced technologies, and better
reimbursement policies in the region. However, the market in
Asia would achieve the fastest
CAGR of 15.2% during the forecast period. This is due to the rise
in incidence of chronic diseases, developing healthcare
infrastructure, growing healthcare awareness, and growing awareness
for early screening or diagnosis of the diseases. The report also
analyzes regions such as Europe and rest of the world.
Key players of the industry
Leading market players analyzed in the research include Quest
Diagnostics, Inc., Sonic Healthcare Limited, Spectra Laboratories,
Diagnostic Pathology Services, Inc., Q2 Solutions, Histo-Scientific
Research Laboratories, among others. These market players have
adopted various strategies including collaborations, joint
ventures, partnerships, expansions, and others to gain a strong
position in the industry.
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Similar Reports:
Pathology Market - Global Opportunity Analysis and Industry
Forecast, 2018-2025
Digital Pathology Market - Global Opportunity Analysis and
Industry Forecast, 2017-2023
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SOURCE Allied Market Research