Pathology Services Market

Pathology Services Market Outlook (2023 to 2033)

The global pathology services market was valued at US$ 15.5 Billion in 2022 and is expected to be valued at US$ 16.5 Billion in 2023.

During the 2023 to 2033 period of assessment, demand is expected to rise at a 6.7% value CAGR, likely to surpass a valuation of US$ 31.6 Billion by the end of the said forecast period.

Report Attributes	Details
Anticipated Base Year Value in 2022	US$ 15.5 Billion
Expected Market Value in 2023	US$ 16.5 Billion
Projected Forecast Value (2032)	US$ 31.6 Billion
Global Growth Rate (2023 to 2033)	6.7%
Market share of North America (2023 to 2033)	39%
Anticipated share of Asia Pacific Market(2023 to 2033)	29%
Prominent Players in The Global Market	ACL Laboratories; AmeriPath; Biogenex; BioReference Health, LLC.,; Clinical Pathology Laboratories; Krsnaa Diagnostics; Labtests; PathGroup; Sonic Healthcare; Spectrum Healthcare Partners; StrataDx; Sutter Health; Synnovis Group LLP; Unilabs Corporation; C-path Connected pathology

Pathology Services Market Revenue Analysis from 2018 to 2022 Vs Market Outlook for 2023 to 2033

Pathology services provide accurate information regarding the progression of the disease conditions. Increasing advances in diagnostic techniques such as PCR, biopsies, and other assays have catered to the needs of pathology services across various domains of the healthcare industry.

As per market research and competitive intelligence provider Fact.MR, the market for pathology services witnessed a 5.3% CAGR from 2018 to 2022. In emerging economies, pathology services are increasingly being adopted to improve the quality of healthcare services and to the growth of the industry.

Companies have started to use technology to improve their operations such as automation and digital system which are playing a significant role in boosting the global market for pathology services. These technologies are enhancing the efficiency, accuracy, as well as convenience of pathology services, which also contribute to market growth.

Other factors like increasing public investments in advancing pathology services have fuelled the growth of the market. Pathology services are evolving at a faster pace to improve the quality and efficiency of diagnosis and created an opportunistic space for new players in the global pathology services market.

Prominent Growth Drivers Influencing the Pathology Service Market

The Rising Prevalence of Chronic Diseases Fosters the Market Growth

The increasing prevalence of chronic diseases, high incidence of cancer, and other target diseases drive the growth of the pathology services market.

The increased consciousness about health in the young population prompted the need for regular check-ups, creating an opportunity for the pathology services market. Additionally, increased demand for regular general check-ups for the age population over 40 due to the high prevalence of diseases boosts the pathology services market growth.

The pathology services market will show rapid growth due to the growing focus on personalized medicine, and a substantial number of supporting programs and training modules by the government.

Technological advancement propels the global pathology services market growth

Technological advancements in digital pathology systems are also expected to drive the pathology services market during the forecast period. The high usage of advanced pathology systems such as digital microscopes, gross imaging, and staining systems is poised to enhance pathological practices to a major extent.

Digital imaging solutions provide accuracy and efficiency-related benefits over conventional techniques, thereby propelling the service uptake rate in the pathology services market. Also, continued technological advancement has led to more sophisticated pathology methods and services which drives the demand in the market.

Research and development on disease diagnosis and treatment are high particularly in developed countries. Developing countries are to adding to the demand in the market due to government initiatives to generate awareness about cutting-edge technologies.

Which Market Challenges Are Hampering Pathology Services Market Sales?

The high cost of services may hamper the market growth

Despite the growing popularity of pathology services, various factors are likely to pose a threat to the growth of the pathology services market during the forecast period.

Limited awareness in developing regions and a lack of skilled workforce are hindering the growth of the pathology services market. Also, the high cost associated with technologically advanced pathology services is expected to restrain market growth.

Comparative View of Pathology Services Markets

Pathology Services Market :

Attributes	Pathology Services Market
Growth Factor	The increasing prevalence of chronic diseases, high incidence of cancer, and other target diseases boost the market growth throughout the forecast period.
Opportunity	Rising investment in healthcare in developed countries and market penetration of key manufacturers in the developing region are expected to provide opportunities for the growth of the pathology services market.

Speech Pathology Services Market :

Attributes	Speech Pathology Services Market
Growth Factor	The increasing prevalence of neurological disorders in infants is likely to drive the speech pathology services market.
Opportunity	The rising geriatric population is likely to drive the demand for speech pathology in the upcoming time.

Histopathology Services Market :

Attributes	Histopathology Services Market
Growth Factor	Increasing prevalence of chronic diseases and increasing geriatric population are the factors improving the growth of the histopathology services market.
Opportunity	Technological advancement in pathological methods and services are the factors fuelling the market growth in the coming years.

 

Regional Outlook

What is the outlook of the North American Pathology Services Market?

The Presence of Well-Developed Healthcare Infrastructure in The Region Drives Market Growth

According to Fact.MR, North America is the fastest-growing market region, accounting for over 37% of the market share in 2023, is expected to maintain its dominance during the analysis period.

Additionally, regional growth can be attributed to the factors such as the rising prevalence of chronic disease, increasing demand for pathology services, increased focus on patient satisfaction, and the presence of a leading market player in the region.

• For instance, in June 2021, PathGroup, announced the acquisition of SkinDx, a leading dermatopathology laboratory in the Southeastern U.S., based in Birmingham, Alabama. This acquisition expands PathGroup’s presence in the dermatopathology space, while also providing state-of-the-art molecular pathology and clinical pathology services for current SkinDx clients.

The U.S. is the leading pathology services market due to the high adoption of such services among end-users in this country. Increasing demand for doorstep diagnostic services and advancements in technology are prompting the growth of the pathology services market in the North American region.

What is the demand outlook for Pathology Services in Europe?

Increasing government initiatives will accelerate the pathology services in the region

According to Fact.MR, the pathology services market in Europe is expected to account for 23% of the market share in 2023 and is expected to accelerate during the forecast period. Governments in Europe are encouraging the adoption of innovative technology such as digital pathology services and automation to improve the efficiency and convenience of pathology services. This is expected to improve patient satisfaction and drive the growth of the European market.

Also, the presence of major players and supportive government initiatives about training pathological programs boost the market growth in the region. The presence of high-quality infrastructure for hospitals and clinical laboratories in the region and government initiatives for screening cancer patients, favorable reimbursement scenarios for pathology diagnostics is the major factor driving the pathology services market in Europe.

How do Growth Prospects for Pathology Services Appear in the Asian Market?

Technological advancement in the region to boost the market growth

The pathology services market in the Asia Pacific is expected to account for 29% of the market share in 2023 and is expected to accelerate during the analysis period.

The Asian pathology services market has witnessed a high market share in the global market due to the high adoption of technological advancements. Further, changing healthcare environment in developed economies has boosted the growth of the pathology services market.

The pathology service provider is focusing on increasing their business opportunities across countries in the Asia Pacific region such as India, China, and Indonesia as these countries are witnessing strong economic growth coupled with high development in the healthcare sector.

Category-wise Insights

By Application Which Is the Most Prominent Segment in the Pathology Services Market?

Disease Diagnostic Segment generated high revenue

Based on the application, the disease diagnostics segment is expected to dominate the market in the forecast period. The segment is projected to exhibit a market share of 45% during the forecast period. Pathology services provide an opportunity for researchers to explore disease etiology and associated outcomes. Thus, the market is witnessing the wide application of pathology services in disease diagnosis.

The growing prevalence of chronic conditions, such as cancer, along with the surging geriatric population, is the major factor driving the disease diagnosis segment. On the other hand, the drug discovery and development segment accounts for a market share of 37% throughout the forecast period.

By End-user Which Segment Accounts for the Highest Revenue in the Pathology Services Market?

Hospitals segment to gain a significant traction

Based on the end-user the pathology services market is segmented into Hospitals, Research Laboratories, diagnostic Laboratories, and others. Among all these hospitals remains the top end-user category expected to expand with a market share of 43% throughout the forecast period due to the high hospitalization rate of cancer patients and a substantial number of frequent readmissions in hospitals.

Also, the presence of well-developed infrastructure, coupled with a well-trained staff in hospital-based pathological laboratories, stimulates the growth of the hospital segment.

On the other hand, a market share of 28% is projected for the diagnostic laboratory segment by Fact.MR until 2033. The growing emergence of advanced testing techniques and equipment has led to the growth of the diagnostic laboratories segment.

Start-Ups for Pathology Services Market

The start-ups in the pathology services market are indulging in collaboration and continually making innovations in the procedures to further make it convenient and cost-effective for the population.

Some key start-ups in the pathology services market include – Genu path labs, chain medical labs, pathology experts, and path central among others

• Founded in 2017 - Genu Path Labs is an online appointment booking platform for diagnostic tests. The platform enables the user to book an appointment in the clinical lab for testing glucose, TSH, triglyceride, creatinine, uric acid, cholesterol, lipid profile, blood hemoglobin, and others. Medical tests are available in packages and are also present for specific medical conditions.
• Founded in 2009 - Path Central is a technology company offering software solutions and services to pathologists. It offers a web-based Anatomic Pathology Laboratory Information System (LIS) that integrates aspects of a pathology practice's business, like ordering, laboratory workflow management and specimen tracking, transcription, diagnosis, reporting, billing, and financial analysis. The company was acquired by XIFIN in August 2013.
• Founded in 2012 - Chain Medical Labs is primarily engaged in providing clinical testing services, drug clinical trial services, and scientific research services, and also offers LIMS services to medical institutions. The company also assists clients in obtaining ISO15189 certification, CAP accreditation also offers SOP process and external audit services. The company claims to be cooperating with scientific research institutions, and universities in areas such as R&D support and training of lab medicine professionals. The company has 3 labs for clinical, pathology, and special lab testing applications.

Competitive Landscape

Examples of some of the market participants in the global pathology services market identified across the value chain include ACL Laboratories, AmeriPath, Biogenex, BioReference Health, LLC., Clinical Pathology Laboratories, Krsnaa Diagnostics, Labtests, PathGroup, Sonic Healthcare, Spectrum Healthcare Partners, StrataDx, Sutter Health, Synnovis Group LLP, Unilabs Corporation, C-path Connected pathology among others.

Leading market players are making strategic investments in technological innovation and R&D initiatives to increase service quality. To achieve a substantial market share in the worldwide pathology services market and strengthen their position, service providers are pursuing expansion methods such as current developments, mergers and acquisitions, collaborations, and partnerships, joint ventures.

Some of the development is as follows -

• In January 2022 - PathGroup, one of the largest providers of anatomic pathology, digital pathology, and clinical and molecular laboratory services in the United States, announced the acquisition of Pathology Consultants, a leading provider of pathology services based in Greenville, S.C.
• In November 2022 - Sonic Healthcare is pleased to announce that it has agreed to acquire a shareholding in Microba Life Sciences Limited.
• In April 2021 - SYNLAB, announced a collaboration with Guy’s and St Thomas’, and King’s College Hospital NHS Foundation Trusts to deliver and transform pathology services for hospitals.

Key Segments Covered in Pathology Services Industry Report

• By Application :

  • Disease Diagnostics
  • Drug Discovery and Development
  • Others

• By End-User :

  • Hospitals
  • Research Laboratories
  • Diagnostic Laboratories
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and Oceania
  • Middle East & Africa