According MarketsandMarkets Research – The Anatomic Pathology Track and Trace Solutions Market is estimated to grow at a CAGR of 10.4% during the forecast period to reach USD 695.7 million.
The increasing volume of diagnostic tests performed in anatomic pathology laboratories, rising number of legal cases around cancer misdiagnosis, benefits of automated labeling solutions, increasing consolidation among anatomic pathology laboratories, and the growing adoption of automated systems to enhance the efficiency of laboratories are the major factors driving the growth of this market.
Objectives of the Study
To define, describe, and forecast the market on the basis of product, technology, application, end user, and region
To provide detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
To analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
To forecast the size of the anatomic pathology track and trace solutions market with respect to North America, Europe, Asia Pacific, and the Rest of the World
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Software segment is expected to account for the largest share of the anatomic pathology track and trace solutions market
On the basis of product, 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.
Based on application, 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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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 market.
The key players operating in the global anatomic pathology track and trace solutions market are Thermo Fisher Scientific (US), Leica Biosystems (Germany), General Data Healthcare (US), Ventana Medical Systems (US), Agilent Technologies (US), Sunquest Information Systems (US), Zebra Technologies Corporation (US), Primera Technology (US), Cerebrum Corporation (US), AP Easy Software Solutions (US), and LigoLab (US).