The size of the North American anatomic pathology market was valued at USD 7.32 billion in 2022 and is estimated to be growing at a CAGR of 5.51% to reach USD 9.57 billion by 2027.
Anatomical pathology is a medical specialty concerned with diagnosing disease based on the macroscopic, microscopic, biochemical, immunologic, and molecular examination of organs and tissues.
Several factors, such as the rise in cases of chronic diseases like cancer, increase in healthcare expenditure in the region, the high-quality infrastructure for hospitals and clinical laboratories, and the presence of major market players like Thermo Fisher and Agilent, coupled with a large number of funding programs by public agencies in the region are the driving forces of the growth of the anatomic pathology market in North America.
Additionally, increasing incidences of various health disorders and the rise in demand to have a complete diagnosis of an issue to ensure the best treatment for the patient are promoting market growth in North America. Growing focus on examining the cells and tissue samples in the laboratories, growth in the prevalence of delivering quality drugs, and increasing the geriatric population are the other factors expanding the market demand.
However, the dearth of skilled persons in monitoring the systems and the results quietly hinders the market's demand. In addition, the cost of installation and maintenance of the equipment needs massive amounts, which is very hard for small-scale industries. This attribute is also impeding the growth rate of the Anatomic pathology market in North America.
Impact of COVID-19 on the North American Anatomic Pathology market:
Globally, the COVID-19 pandemic has impacted every aspect of the medical diagnosis industry, including the anatomic pathology market. The number of consulting visits to hospitals and clinics has reduced significantly in the last few months before the lockdown, despite emergency and OPD services being available in hospitals.
Due to the lockdown in the second quarter in many countries, surgeries have reduced considerably. The World Economic Forum survey found that 28 million elective surgeries and 38% of global cancer surgeries have been delayed or postponed. Consequently, the number of diagnostic tests, sales of anatomic pathology products have reduced during this quarter of 2020. Additionally, due to the increase in COVID- 19, pathology laboratories are now prioritizing and centering on COVID-19 tests.
Many countries have undergone lockdown relaxations in the last month, and most hospitals have resumed elective surgeries, increasing the number of diagnostic tests conducted. However, the anatomic pathology market's overall growth rate is less than the previous year due to the factors mentioned above.
This research report on the North American Anatomic Pathology Market has been segmented & sub-segmented into the following categories:
Regionally, the United States anatomic pathology market is expected to play a leading role in the North American market during the forecast period owing to the rise in disposable income in many areas and growth in the demand for healthy lifestyles. In addition, increasing incidences of chronic diseases such as cancer are spurring the market's needs. In addition, the rise in awareness over the availability of different diagnostic procedures by collecting cells and tissue samples through biopsy elevates the market's demand.
The Canadian anatomic pathology market is estimated to be at a healthy CAGR due to the rise in the availability of skilled persons due to increasing training institutes.
KEY MARKET PLAYERS:
North America Anatomy Pathology Market is exceptionally incoherent, and many big players exist in this region. Key Players of this market in the North American region include Thermo Fisher Scientific, Quest Diagnostics Incorporated, Laboratory Corporation of America Holdings, NeoGenomics Laboratories, Inc., Danaher Corporation, and Agilent Technologies.
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