Anatomic Pathology Market Predicted to Exhibit Over 5.0% CAGR During 2019–2024

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health-fitness

Summary

According to the forecast of P&S Intelligence, a market research company based in India, the market will exhibit a CAGR of 5.8% between 2019 and 2024.

Press Release

Valued at $17.4 billion in 2018, the global anatomic pathology market is predicted to reach a revenue of $24.3 billion by 2024. The prominent factors fueling the progress of the market are the rising prevalence of chronic diseases, the surging population of geriatric people, and rapid advancements and innovations in technologies.

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Apart from the aforementioned factor, the increasing incidence of chronic diseases such as heart diseases, kidney diseases, cancer, autoimmune diseases, and liver cirrhosis, is also propelling the growth of the anatomic pathology market. The occurrence rate of chronic diseases is skyrocketing in both low- and middle-income countries (LMICs) and high-income countries. According to the findings of the WHO, 9.6 million people all over the world lost their lives because of cancer in 2018.

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Geographically, the anatomic pathology market is predicted to demonstrate the fastest growth in the Asia-Pacific (APAC) region in the forthcoming years. The main factors driving the advancement of the market in this region are the rising popularity of personalized medicine, the soaring investments being made by various private and public organizations in diagnostic research, the increasing number of patients suffering from various chronic diseases, and the expanding operations of the industry players in this region.