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Pathology Lab Equipment Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI4308

Pathology Lab Equipment Market Size is set to witness a robust expansion from 2022 to 2028 with the rising significance of early disease detection in wake of the growing pervasiveness of various serious disorders, including cancer, across the globe. According to the World Health Organization (WHO) statistics, cancer led to around 10 million deaths across the globe in 2020. This is expected to instigate the demand for diagnostics which in turn will stimulate the adoption of pathology lab equipment. 
 

Pathology lab equipment facilitate hematology, microbiology, immunology, genetic testing, and cytology with greater precision and lesser time. The ongoing development of innovative lab pathology equipment by the leading market players will strengthen the pathology lab equipment market trends in the future.  
 

With regards to the application, diagnostics segment is estimated to witness considerable expansion over the forecast period of 2022-2028 with the growing awareness about early disease detection, especially for diagnosing infectious diseases. Diagnostics help in enhancing the effectiveness of treatments and avoiding long-term complications for the infected patient. This has urged various governing bodies to invest in diagnostics. For instance, in 2021, the U.S. Department of Health and Human Services (HHS) announced allocating USD 650 million to increase manufacturing capacity for rapid and high-quality diagnostic testing in the country.  
 

In terms of end-user, clinical and diagnostic laboratories segment is anticipated to grow substantially over the analysis timeline of 2022-2028. This can be largely ascribed to the major role played by the clinical labs in providing prompt and highly reliable data to meet needs of clinicians involved in the patient health care and medical practice. The increasing number of these labs is expected to create lucrative opportunities for the industry. For instance, in 2021, the Rosalind Franklin laboratory, which is the first testing megalab of the UK, was opened in Royal Leamington Spa under the country’s NHS Test and Trace network. This lab is expected to process thousands of COVID-19 samples every day for the rapid detection of new variants and to curb the spread of the virus.
 

On the regional landscape, pathology lab equipment market is expected to exhibit notable growth in Asia Pacific by the end of 2028 owing to the increasing expenditure on healthcare in the region. Besides, the strong presence of various market players in the region who are focusing on business expansion strategies will further favor the industry growth. To illustrate, in 2021, FUJIFILM Corporation launched a project for verifying the effectiveness of artificial intelligence in diagnostic imaging in India.
 

The major companies active in pathology lab equipment market include Agilent, Shimadzu Corporation, Thermo Fisher Scientific, Danher, Fujifilm (Fujifilm Holdings Corporation), Waters and Bio Rad Laboratories. These business players are largely focusing on the development of innovative solutions that can effectively serve the customer demands and help them gain a competitive edge in the market.
 

Citing an instance, in 2021, Thermo Fisher Scientific introduced the QuantStudio 5 Dx Real-Time PCR System designed for assay developers and clinical laboratories. According to the company, this qPCR platform simplifies molecular diagnostic workflows for infectious diseases, Covid-19 testing, and oncology.
 

COVID-19 impact on pathology lab equipment market trend:

The emergence of the COVID-19 pandemic has positively impacted the market revenue due to the increased pressure on the clinical laboratories for SARS-CoV-2 testing. The heightened demand for these testing kits influenced laboratories to increase investments in pathology equipment. The growing awareness regarding better patient care and the introduction to favorable government initiatives will complement the market expansion over the foreseeable future.
 

The pathology lab equipment market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2028 for the following segments:

Market By, Application

  • Clinical Chemistry Testing
  • Diagnostics
  • Microbiology Testing
  • Hematology Testing
  • Others

Market By, End user

  • Independent and Reference Laboratories
  • Hospital-based Laboratories
  • Clinical and Diagnostic Laboratories
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
  • Latin America
    • Mexico
    • Brazil
    • Argentina
  • Middle East and Africa
    • Saudi Arabia
    • South Africa
    • UAE

 

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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