Market Current Trends : Anatomic Pathology Track and Trace Solutions Market Globally Grow at a CAGR of 10.4% by Revenue During the forecast Period 2018-2023
The Anatomic Pathology Track and Trace Solutions Market are projected to reach USD 695.7 million by 2023 from USD 424.2 million in 2018, at a CAGR of 10.4%.
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Global Anatomic Pathology Track and Trace Solutions Market Projected to Reach USD 695.7 Million by 2023. The increasing volume of diagnostic tests performed in anatomic pathology laboratories and the increasing number of legal cases around cancer misdiagnosis are the major factors driving the growth of this market. Also, the integration of laboratory information systems with track and trace pathology systems is expected to offer significant growth opportunities for leading players operating in the Anatomic Pathology Track and Trace Solutions Market in the coming years.
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Software segment is expected to account for the largest share of the Anatomic Pathology Track and Trace Solutions Market, by product, in 2018
On the basis of product, the Anatomic Pathology Track and Trace Solutions Market is broadly segmented into software, hardware, and consumables. In 2018, the software segment is expected to account for the largest share of this market. This can majorly be attributed to the growing need to automate the sample labeling process for reducing manual errors, increasing focus on improving the efficiency of anatomic laboratories, growing adoption of cloud-based LIMS, and the increasing workload in anatomic pathology laboratories.
Slide tracking segment is expected to register the highest CAGR in the Anatomic Pathology Track and Trace Solutions Market, by application, during the forecast period
Based on application, the Anatomic Pathology Track and Trace Solutions Market is segmented into slide tracking, tissue cassettes and blocks tracking, and specimen tracking. The slide tracking segment is estimated to register the highest CAGR during the forecast period primarily due to the implementation of tracking systems for reducing specimen identification errors and increasing workflow efficiency in anatomic pathology laboratories.
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Barcode segment is expected to account for the largest share of the Anatomic Pathology Track and Trace Solutions Market, by technology, in 2018
On the basis of technology, the Anatomic Pathology Track and Trace Solutions Market is segmented into barcode and RFID. In 2018, the barcode segment is expected to account for a larger share of the market majorly due to the higher adoption of barcode systems among end users owing to their lower cost (as compared to RFID).
Independent and reference laboratories segment is expected to register the highest CAGR in the Anatomic Pathology Track and Trace Solutions Market, by end user, during the forecast period
Based on end user, the Anatomic Pathology Track and Trace Solutions Market is segmented into hospital laboratories, independent and reference laboratories, and other end users (contract research organizations, government-funded medical laboratories, and research institutes). The independent and reference laboratories segment is estimated to register the highest CAGR during the forecast period. This can be attributed to the increasing number of cancer diagnostic tests performed in independent and reference laboratories and the increasing number of large-sized reference laboratories across the globe.
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North America is expected to dominate the market in 2018
North America is expected to account for the largest share of the Anatomic Pathology Track and Trace Solutions Market in 2018, followed by Europe. The increasing volume of diagnostic tests performed in anatomic pathology laboratories, easy accessibility to advanced technologies, growing demand for advanced cancer diagnostic testing and screening, favorable reimbursement scenario for anatomic pathology diagnostic tests, increasing healthcare expenditure, and the strong presence of leading market players in the region are the major factors responsible for the large share of North America in the Anatomic Pathology Track and Trace Solutions Market.
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