Factors Responsible for Growth and In-Depth Analysis?
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. However, the high cost associated with the implementation of track and trace solutions in anatomic pathology laboratories is expected to restrain the growth of this market during the forecast period.
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).
Leica Biosystems held the second position in the global anatomic pathology track and trace solutions market in 2017. Leica Biosystems is a wholly owned subsidiary of Danaher Corporation (US). Over the years, the company has maintained its leading position in the market through continuous innovation and the launch of advanced products. For instance, in June 2017, Leica expanded its portfolio of slide identification products by adding the HistoCore PERMA S slide printing solution. The company is also focusing on inorganic growth strategies to increase its presence in the market. In the last three years, Leica Biosystems has entered into 6 strategic partnerships, collaborations, and agreements.
Geographical Analysis in Detailed?
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 anatomic pathology market.
Software segment is expected to account for the largest share of the anatomic pathology track and trace solutions market.
based on 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, the track and trace solutions market is 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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