Rapid advancements in the production of pathology devices & equipment are driving global pathology instruments market growth, says Fact.MR.

Rockville, Feb. 10, 2023 (GLOBE NEWSWIRE) -- The global pathology instruments market is valued at US$ 3.65 billion in 2023. Worldwide demand for pathology instruments is set to increase at a CAGR of 4.5% from 2023 to 2033. As per this new analysis by Fact.MR, a market research and competitive intelligence provider, market growth can be attributed to the aspects such as rising prevalence of chronic disorders and viral & bacterial diseases across the world.

Cancer is the second leading cause of death worldwide. By 2040, more than 30 million of the population is expected to be diagnosed with cancer. Rising prevalence of diabetes is increasing the risk of cardiac disorders. Cases of cardiovascular disorders are increasing rapidly across the world. Thus, rising incidence of chronic disorders is increasing the adoption rate of early disease detection, which is subsequently driving target market growth.

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Widespread use of cutting-edge tools for anatomic pathology, including staining systems, digital microscopes, and more, is expected to greatly advance pathology practices. The market for pathology instruments is growing as a result of the specificity and precision that digital imaging solutions provide over conventional methods.

Key Takeaways from Market Study

• The global pathology instruments market is expected to reach US$ 5.67 billion by 2033.
• The market in China is predicted to expand rapidly at a CAGR of 8% during the projected period.
• Demand for pathology instruments for diagnostic services is expected to rise at a CAGR of 5% during the next 10 years.
• Sales of pathology instruments in Canada are anticipated to increase at a 5% CAGR.

“Key manufacturers of pathology instruments are introducing smart devices & technologies considering the rising risks of contagious diseases,” says a Fact.MR analyst.

Key Segments of Pathology Instruments Industry Research

• By Technology :
  • Clinical Chemistry
  • Immunoassay Technologies
  • Microbiology
  • Molecular Diagnostics
• By Application :
  • Drug Discovery & Development
  • Diagnostics
• By End User :
  • Pharmaceutical Companies
  • Diagnostic Laboratories
  • Academic Institutes
  • Pharmaceutical & Biotechnology Companies
• By Region :
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA

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Recent Industry Developments

• To further strengthen its regional presence in the field of anatomic pathology, molecular diagnostics, and fluorescence in situ hybridization, EmeritusDX purchased Freedom Pathology Partners in June 2022.
• Thermo Fisher Scientific Inc.'s PPD clinical research company announced intentions to invest US$ 59 million in October 2022 to develop its lab operations in Kentucky, the United States to help patients receive life-changing pharmaceuticals.

Competitive Landscape

Key players in the pathology instruments market are developing advanced devices and technologies to earn more and maintain a dominating market position. Local supply, regional expansion, pricing trends as per region to region, and new developments are some of the marketing tactics of leading pathology instrument companies.

• The comprehensive in-vitro genomic profiling kit ‘TruSight Oncology (TSO)’, was introduced by Illumina in March 2022, which evaluates several genes and biomarkers to determine the unique molecular pattern of a cancer patient in Europe. According to the patient's molecular profile, this makes it easier for clinicians to administer targeted medication.
  

Key Companies Profiled

• Abbott Laboratories
• Becton, Dickinson and Company
• Bio-Rad Laboratories
• Danaher Corporation
• Definiens
• Hamamatsu Photonics
• Mikroscan Technologies
• Ortho-Clinical Diagnostics
• Roche Diagnostics
• Thermo Fisher Scientific

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global pathology instruments market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.

The study divulges essential insights on the market on the basis of technology (clinical chemistry, immunoassay technologies, microbiology, molecular diagnostics), application (drug discovery & development, diagnostics), and end user (pharmaceutical companies, diagnostic laboratories, academic institutes, pharmaceutical & biotechnology companies), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

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