Pathology Devices Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Pathology Devices Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The pathology devices market is expected to grow at a CAGR of 5.0% during the forecast period.

The COVID-19 pandemic has affected healthcare systems globally and resulted in the interruption of usual care in many healthcare facilities, exposing vulnerable patients with chronic diseases such as cancer and cardiovascular diseases to significant risks. The increasing risks of COVID-19 have increased the demand for pathological testing of patients. For instance, in November 2021, Detect Technologies introduced a new COVID-19 fast molecular test to satisfy testing requirements at home, school, and workplace in United States. This has significantly impacted the market growth during the pandemic. However, with the released COVID-19 restrictions and resumed services, hospital visits have increased the demand for pathological testing of patients suffering from various chronic and infectious diseases, which is expected to increase the demand for pathology devices over the forecast period.

Specific factors propelling the market growth are the increasing prevalence of chronic and infectious diseases and technological advancements in pathology devices. For instance, according to the NIH data published in March 2022, it has been observed that HER-2 Negative cancer accounted for around 15-20% of the total breast cancer cases across United States in 2022. It is anticipated that 287,850 new female breast cancer cases will be diagnosed in 2022 in United States. Thus, the anticipated rise in cancer cases increases the demand for early cancer detection for more effective and timely treatment, which is anticipated to fuel the demand for pathology devices over the forecast period.

Additionally, obesity is a key risk factor for high cholesterol, which leads to various chronic diseases such as type 2 diabetes, cardiovascular disease, and hypertension, as well as linked to brain disorders like Alzheimer’s disease. For instance, according to the data published by the IDF, in March 2022, about 1 billion people, including one in five women and one in seven men, are expected to be living with obesity by 2030 globally. Also, per the data published by the WHO, in September 2021, it was found that 38.2 million children under the age of 5 years were overweight or obese. Thus, the increasing obesity among the population is expected to increase the demand for testing cholesterol levels to prevent further risks of developing diseases. This is anticipated to propel the demand for pathology tests to confirm the presence of types of lipoproteins. This is expected to fuel the demand for pathology devices in the market over the forecast period.

Furthermore, the increasing prevalence of infectious diseases among the population is also expected to increase the demand for pathological tests, which is anticipated to fuel the demand for pathology devices over the forecast period. For instance, as per the data published by the WHO, in October 2022, about 10.6 million people (6 million men, 3.4 million women, and 1.2 million children) fell ill with TB in 2021 globally. According to the data published in the Global Tuberculosis Report 2021, most of the tuberculosis cases were found in the WHO regions of Southeast Asia (43%), Africa (25%), and the Western Pacific (18%), and lesser numbers of tuberculosis cases were found in Eastern Mediterranean (8.3%), the Americas (3.0%) and Europe (2.3%).

Moreover, as per an article published by PLOS One in February 2021, dyslipidemia is a significant risk factor for cardiovascular diseases (CVD). It has been observed that the adult population of Mekelle City has an unacceptably high incidence of dyslipidemia, which highlights the urgent need for early detection and public health interventions through the coordinated involvement of governmental, non-governmental, and public groups. Thus, the high prevalence of dyslipidemia among the population is expected to increase the need to detect the imbalance of cholesterol, which is anticipated to fuel the demand for pathology devices over the forecast period.

However, the lack of awareness in developing countries and standard guidelines for newer technologies are expected to impede market growth over the forecast period.

Molecular diagnostic devices are used to analyze biological markers in the genome and proteome to detect pathogens or mutations. Based on the technology, molecular diagnostic devices can be segmented into chips and microarrays, mass spectroscopy, next-generation sequencing (NGS), polymerase chain reaction (PCR)-based methods, cytogenetics, and molecular imaging. Factors such as large outbreaks of bacterial and viral epidemics, increasing demand for point-of-care diagnostics, and rapidly evolving technology are driving the growth of the molecular diagnostics segment.

The advancement of precision medicine has provided specific strategies for targeted therapies and medicines for patients with cancer and Mendelian diseases, which prove to be better than the traditional clinical practices has increased the demand for next-generation sequencing, which is also expected to propel the segment growth. For instance, according to the data published by the CDC in January 2021, it is projected that more than 60 million people will have their genomes sequenced by 2025 worldwide.

The COVID-19 pandemic impacted segment growth significantly. During the pandemic, molecular diagnostic tests were adopted by researchers worldwide. For instance, according to a press release published in September 2021, Italian researchers used the Logix Smart COVID-19 Test Kit to confirm the presence of SARS-CoV-2, including mutated strains of the virus, in community surveillance. Thus, the adoption of molecular diagnostics has increased during the pandemic, which is further expected to fuel segment growth over the forecast period.

Furthermore, the increasing company focus on developing technologically advanced products in molecular diagnostics and rising new product launches contributes to market growth. For instance, in October 2021, the ELITech Group, an Italy-based company focused on manufacturing and distributing diagnostic solutions to laboratories, launched the new CE-IVD stand-alone ‘Sample – to – Result’ real-time (RT) PCR solution, namely ELITe BeGenius. The product makes molecular biology universally accessible with its compact footprint, ease of use, and total automation. The company also offers ELITe InGenius and ELITe BeGenius molecular diagnostics instruments to every lab.

Moreover, in June 2021, Thermo Fisher Scientific Inc. launched TaqPath, a new CE-IVD-marked fast PCR combo kit 2.0, to detect active SARS-CoV-2 infection. Such developments are expected to contribute to segment growth over the forecast period.

Therefore, owing to the factors mentioned above, the segment is anticipated to witness growth over the forecast period.

North America is expected to hold a significant market share in the pathology devices market, owing to the rising prevalence of infectious and chronic diseases, better healthcare infrastructure, and the technological advancements of pathological devices.

The increasing number of chronic diseases in the region is increasing the demand for early detection and further prevention to reduce the prevalence of chronic diseases in the area, contributing to market growth. For instance, according to 2022 statistics published by the IDF in the 10th edition of 2021, it has been observed that 14.1 million people were living with diabetes in Mexico in 2021. As per the same source, this number is projected to reach 17 million and 21.1 million by 2030 and 2045, respectively. Therefore, people with diabetes are more likely to have certain risk factors, such as high blood pressure link or high cholesterol, that increase their chances of having a heart attack or a stroke. This is expected to increase the need to detect diabetes early to reduce further the chances of developing cholesterol and other diseases, which is anticipated to increase the demand for pathological testing, boosting the market growth.

Furthermore, the increasing company's strategic activities, including collaborations, acquisitions, grant programs, and others, contribute to market growth. For instance, Omega Specialty Nurses (OSN), House of Sophrosyne, and the Viral Hepatitis Care Network in Ontario have received grants from the 2021 CONNECT-C Grant Program from Gilead Sciences Canada Inc. to expand the number of hepatitis screening centers across the nation. Thus, the increasing number of screening centers is expected to increase the demand for pathological devices for testing hepatitis, bolstering the market growth.

Moreover, the rising company activities in developing pathological centers or labs, device launches, and the adoption of digital or artificial intelligence pathology devices are also contributing to the market growth. For instance, in October 2021, Roche entered a development and distribution agreement with PathAI. The companies jointly develop an embedded image analysis workflow for pathologists that allow PathAI image analysis algorithms to be accessed within NAVIFY Digital Pathology, the cloud version of Roche’s uPath enterprise software.

Therefore, owing to the factors above, the segment is anticipated to witness growth over the forecast period.

The pathology devices market is moderately fragmented and consists of a few major players. The companies are focusing on adopting various business strategies, such as product launches, agreements, and collaborations, to withhold their market position. Some of the key players in the market are Abbott Laboratories, Becton, Dickinson and Company, Bio-Rad Laboratories, Danaher Corporation, Definiens, Hamamatsu Photonics, Mikroscan Technologies, Ortho-Clinical Diagnostics, Roche Diagnostics, and Thermo Fisher Scientific, which hold the substantial market share in the pathology devices market.

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