Cellular Pathology Market Size & Share, by Product (Instruments, Consumables, Services); Application (Disease Diagnosis, Drug Discovery and Development, Therapeutic Research); End User (Hospitals, Diagnostic Laboratories, Academic Research Institutes) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

Growth Drivers

Upwelling Demand For Pathological Service Resulting From High Number Of Cancer Patients

According to the World Health Organization, cancer is the second leading cause of death globally, and it had accounted for an estimated 9.6 million deaths in 2018. Cancer is the leading cause of death worldwide, with an estimated 9.6 million deaths in 2018.  Around the globe, 1 in 6 deaths is due to cancer. Undiagnosed rate, late-stage presentation, and inaccessible treatment are common. In 2017, only 26% of low-income countries reported that pathology services were generally available in the public sector 

There is considerable potential to increase cellular pathology markets in populated countries this is owing to the fact that there is a substantial increase in the aging population and an increase in the number of patients suffering from chronic diseases. Also, prevalence of chronic diseases, development of technology, and growth of geriatric populations, increased investment in diagnostic research by non-governmental and governmental organizations, as well as market access to accredited players in the region are to boost the market. There also has been an increase in the share of international players in the cellular pathology market which is contributing to the better availability of modern, innovative materials and anatomical pathology tools.

Rising Expenditure On Health Service Sector And Rise In Elderly Population

According to the report published by WHO two years into the era of sustainable development goals, global spending on health continues to rise. That is US $ 7.8 trillion in 2017 or about 10% of GDP and $ 1,080 per capita which is increased from the US $ 7.6 trillion in 2016. The healthcare sector is expanding faster than the economy. Between 2000 and 2017, global health spending rose 3.9% year over year, while the economy grew 3.0% year over year.

The cellular pathology market demand is soaring on the back of rising health care costs, emerging aging populations and the increasing use and effectiveness of biomarkers to diagnose diseases. Continuous technological advances that have led to more sophisticated anatomical pathology methods have also benefited market demand. This is especially true for the industrialized nations of the world, which provides significantly to research and development of pathological methods, especially in the field of diagnosis and treatment of diseases. The developing countries are also seeing an increase in the demand for healthcare facilities owing to the efforts and government initiatives to raise awareness of new emerging technologies.

Challenges

Merging Of The Markets And Inability Of Underdeveloped Countries To Adopt Such Technological Advances.

Despite the growing market for the cellular pathology, it may face restraints in growth owing to the various players entering the market and thus increasing the cellular pathology market consolidation which acts as a restraint. Also, many underdeveloped countries don't have such funds or public spending on such a technologically advanced market sector which may create a stagnant front for the market growth of the product.