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Are you aware of pathological examination? If not, then read our blog till the end to learn about the Pathological examination and its major markets.
Pathological examination is a complex method used to determine the state of a patient. It has been used by medical professionals to find out the real reason behind a patient’s ailment in the absence of a conclusive diagnosis. The pathological examination market is growing at a rapid pace and is projected to reach over $378.4 billion by the year 2026.
The increase in the cases of chronic diseases, cardiac diseases, type 2 diabetes, cancer, etc. are the major reasons behind the growth of the Pathological examination market during the forecast period. In addition, COVID-19 also boosted the growth of the pathological examination market in recent years. In this blog, we are going to discuss the geographical analysis of the Pathological Examination Market as follows:
North American region was dominating the Pathological examination market in 2021 owing to the availability of favorable reimbursement policies and advanced technologies. The US and Canada are leading in the North American Pathological examination market. The lead is due to factors such as developed healthcare infrastructure, advancements in medical research, and a rise in number of healthcare organizations. North America is also dominant in Anatomic Pathology Market which is a sub-segment of pathological examination industry.
Europe is among the most lucrative regions for the pathological examination market. The main reason behind this is that most of the European countries such as the UK, Germany, France, etc. are developed. In addition, people in these countries are more financially stable when compared to the Middle East, Africa and APAC regions. Furthermore, the presence of numerous big and emerging companies is allowing the growth of the pathological examination market in Europe.
Europe is also one of the major regions for the digital pathology market owing to the increasing adoption rate of digital pathology systems, the rise in teleconsultations and new governmental initiatives.
The market share of the Asia Pacific region in pathological examination was low in the last few years. However, it is expected to exhibit a higher CAGR in the upcoming years due to the increasing purchasing power of the population. In addition, the healthcare infrastructure development and new medical innovations in developing countries like India and China will further assist the market growth in the Asia Pacific region.
Developed Asia Pacific countries like Japan, South Korea and Australia also grasped a huge market share in the previous decade. However, due to high growth risk scores and heavy competition, developing Asia pacific countries are giving tough competition to these developed countries. The aging population in these developed APAC countries can further strengthen the market in the upcoming years.
Moreover, Asia pacific is also expected to lead in Digital Pathology Market in the upcoming years due to an increase in the demand for treatment options and cases of cancer.
South America is another major and developing region for the Pathological examination market. The rising prevalence of patient well-being and effective treatment procedures are creating huge growth opportunities for the market in this region. Moreover, the governments of countries like Brazil, Argentina and Mexico are investing huge efforts and funds in the development of new hospitals which will also boost the growth of the market in these regions.
South American regions are also struggling with the rising cases of cancer which is also beneficial for the pathological examination market. However, challenges such as lack of uniformity, increased understanding of diagnostic procedures and strict rules and regulations can impact the market negatively.
Rest of the World
Both the Middle East and Africa held a small share of the Pathological examination market. Increasing concentration on customized medicines is one of the major driving factors for the market in these regions. However, the lack of knowledgeable and skilled medical professionals poses a serious threat to the Pathological examination market in Africa and the Middle East.
The Pathological Examination market is anticipated to witness immense opportunities for growth during the forecast period. Key factors that are expected to fuel the Pathological Examination market growth are the increasing government initiatives and private investment towards research and development.
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