Market Analysis

Scope of Pathology conference:

Pathology is a clinical information benefit that is key to current therapeutic practice and human facilities. Pathology is utilized as a part of the study, treatment and administration of an growing scope of clinical conditions. Pathology includes the investigation of the harming effect of ailment on cells and tissues and the route in which the body looks to secure and repair itself. The pathology segment is a part of the worldwide pharmaceutical industry. Pathology administrations lie at the heart of social insurance administrations gave to patients and the group. They support the quality and cost adequacy of social insurance.

Business value of Pathology:

The pathology market is projected to reach a value of USD 44.4 billion by 2024 from USD 33.0 billion in 2019, at a CAGR of 6.1% from 2019 to 2024. The high incidence of cancer and other target diseases, availability of reimbursement, and the growing focus on personalized medicine are the major factors driving the growth of the pathology market.

Based on product & service, the pathology market is segmented into services, consumables, and instruments. The services segment accounted for the largest share of the anatomic pathology market in 2018. The large share of this segment can be attributed to the availability of reimbursements for diagnostic tests, rapid growth in the geriatric population, and the increasing incidence of cancer and other chronic diseases.

Based on end user, the pathology market is segmented into hospital laboratories, clinical laboratories, and other end users. In 2018, the hospital laboratories segment accounted for the largest market share and is expected to grow at the highest CAGR during the forecast period. The growth in this market can be attributed to the increasing number of patient visits to hospitals, growing number of in-house diagnostic procedures performed in hospitals, growing awareness regarding early disease diagnosis, and the availability of reimbursements in developed markets for clinical tests performed in hospitals.

By region, the anatomic pathology market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2018, North America accounted for the largest market share, followed by Europe. The rising prevalence of chronic diseases, increasing healthcare expenditure, the highquality infrastructure for hospitals and clinical laboratories, and the presence of major market players in the region are driving the growth of the anatomic pathology market in North America.

The prominent players operating in the anatomic pathology market include F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (US), Thermo Fisher Scientific (US), Hologic, Inc. (US), Agilent Technologies (US), Becton, Dickinson and Company (US), Sakura Finetek (Japan), Merck KGaA (Germany), Bio SB (US), Diapath S.p.A. (Italy), and BioGenex Laboratories (US).

Digital Pathology Market:

The global digital pathology market is projected to be valued at $383.9 Million in 2016 and is expected to grow at a CAGR of 12.3% from 2017 to reach to $756.1 Million by 2022. Growth in the overall market is mainly driven by factors such as the growing applications of digital pathology in drug development and companion diagnostics, ease of consultation, increasing adoption of digital pathology to enhance lab efficiency, rising prevalence of cancer, and increasing initiatives by governments and industry players. Base year considered for the report is 2016 and the forecast period is 2017–2022.

Overall Statistics

• Over 7000 licenses have been issued to pathology labs in the US

• Academic department in U.S. (130 medical schools; 155 training programs)

• 59 Universities are there in USA

• 36 Societies and Association

The global digital pathology market size was valued at USD 321.7 million in 2016. It is expected to witness a CAGR of 14.0% throughout the forecast times. Increasing focus on rising progress, potency and implementing the diagnostic tools for chronic diseases, like cancer, is one in every of the key trends triggering market growth. Rising prevalence of chronic conditions is calculable to drive the market. An upsurge is anticipated in clinical urgency to adopt digital pathology so as to enhance existing patient diagnostic imaging measures and decreases high price related to these standard diagnosis. As aged individuals are additionally prone to chronic conditions, growing geriatric population is like boosting the demand for technologically advanced diagnostic techniques, thereby augmenting the market. It valued at $1.98 billion in 2012, is estimated to reach $5.7 billion by 2020. The In vitro diagnostics market revenue is expected to reach $74.65 billion by 2020, from the market value of $53.32 billion in 2013, at a CAGR of 5.34% during 2014-2020. Diagnostic Medicine has $35 billion market, growth 5-7% yearly. Pathology labs will take approximately $15-16 billion in revenue, and they will spend roughly 12% of their revenues with their suppliers all over USA.

According to a study revealed in Medscape, chronic diseases were liable for high death rate. Owing to the high prevalence of heart diseases, it becomes imperative to choose advanced diagnostic and imaging alternatives. Whole slide imaging is one such technique that has varied benefits over standard lightweight microscopes, that is predicted to supply with profitable opportunities. Moreover, speedy technological advancements in digital pathology systems square measure taking part in a polar role within the development of the market.

Advancements in Pathological conditions such as advanced visualization, computerization, Advancements such as advanced visualization, computerization, robotic light microscopy, and multiple fiber optic communications are projected to contribute to the growth of the market. In addition, advancements like micro-arrays and incorporation of a large scope of prognostic models like hybrid models and numerous API algorithms square measure poised to fuel the demand for image analysis software, accentuating the demand. Rising preference for computer-aided identification that integrates image methodology, physics, arithmetic, and computing algorithms facilitates economical illness detection. It additionally helps in evaluating anatomic structures of interest and quantification of sickness progression also as risk assessment. These mentioned benefits offered by digital pathology systems are expected to provide an up thrust to the market.

Top Universities in Singapore:

• Duke-NUS Medical School

• SGH Postgraduate Medical Institute (PGMI)

• National University of Singapore

• Parkway College of Nursing and Allied Health

• Yong Loo Lin School of Medicine

• Singapore of College Traditional Chinese Medicine

• Dean's Office, Yong Loo Lin School of Medicine

• College Of Family Physicians S'pore

• Singapore College Of Traditional Chinese Medicine

• Trent Global College

Top Hospitals in Singapore:

• Raffles Medical Hospital

• Mount Elizabeth Hospital Novena

• Tan Tock Seng Hospital

• Singapore General Hospital

• Mount Elizabeth Hospital

• Gleneagles Hospital

• National University Hospital

• KK Women’s & Children’s Hospital

• Ng Teng Fong General Hospital

• Changi General Hospital