Anatomic Pathology Track and Trace Solutions Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, France, China - Size and Forecast 2024-2028

Anatomic Pathology Track and Trace Solutions Market 2024-2028

The global anatomic pathology track and trace solutions market size is estimated to grow by USD 549.67 million at a CAGR of 14.47% between 2023 and 2028. 

Anatomic pathology laboratories are witnessing growth in proactive disease diagnosis among patients with a family history and high risk of specific diseases in their heredity. A timely diagnosis of proactive diseases allows patients to initiate a consultation with physicians for frequent monitoring of disease risk and proactively indulge in activities to prevent further progress. The use of track-and-trace solutions in pathology laboratories has reduced the expenditure on healthcare and mortality rates associated with misdiagnosis and late detection of diseases globally. Furthermore, factors such as increasing disposable income and numerous awareness campaigns emphasizing the importance of timely diagnosis across the globe will increase the number of visits to doctors for regular checkups. Therefore, the rising demand for timely disease diagnosis is expected to drive the growth of the global anatomic pathology track-and-trace solutions market during the forecast period.

Technavio has segmented the market into End-user, Technology, and Geography 

• The end-user segment includes hospital laboratories, independent and reference laboratories, and CRO and others
• The technology segment includes barcode and RFID
• The geography segment includes key regions such as North America, Europe, Asia, and Rest of World (ROW)

It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.

What will be the size of the Anatomic Pathology Track and Trace Solutions Market During the Forecast Period?

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Anatomic Pathology Track and Trace Solutions Market Segmentation by End-user, Technology, and Geography Analysis

End-user Analysis 

Hospital laboratories

The market share growth by the hospital laboratories segment will be significant during the forecast period. Hospital laboratories deal with a vast volume of specimens daily, which can make tracking and tracing a challenging task. The implementation of track-and-trace solutions in these laboratories helps streamline the workflow by automating data capture, reducing manual errors, and enhancing efficiency. Furthermore, track-and-trace solutions enable improved quality control in hospital laboratories. They facilitate systematic sample tracking, minimizing the risk of mislabeling, misplacement, or loss of specimens.

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The hospital laboratories segment was valued at USD 165.01 million in 2018. The increasing adoption of digital pathology and laboratory automation, coupled with the growing emphasis on patient safety, data integrity, and regulatory compliance, drives the demand for robust track-and-trace solutions in hospital settings. Moreover, the implementation of track-and-trace solutions in hospital laboratories ensures accurate specimen tracking, reduces errors, and enhances patient safety, contributing to improved healthcare outcomes. Thus, such factors will drive the growth of the hospital laboratories segment in the global anatomic pathology track-and-trace solutions market during the forecast period.

Technology Analysis 

Barcode

The barcode segment held the largest share of the global anatomic pathology track-and-trace solutions market in 2023, owing to the high adoption of barcode systems among anatomic pathology laboratories due to their lower cost (compared with RFID). Tracking of anatomic pathology assets such as slides, specimens, and blocks can reduce interpretation errors, improve productivity as well as the workflow, and decrease the overall cost. The major barcode track-and-trace products used in anatomic pathology laboratories include barcode scanners, printers, labels, and labeling systems. Furthermore, the popularity of barcodes largely depends on the complexity and capabilities of the novel tracking software. Thus, such factors will drive the barcode segment in the market during the forecast period.

RFID

The RFID segment is expected to demonstrate the fastest growth in the global anatomic pathology track-and-trace solutions market. This can be attributed to various factors, such as the ability of RFID technology to track bundled specimens and heightened data security. The major RFID track-and-trace products used in anatomic pathology laboratories include RFID readers, tags, and software. Furthermore, unlike barcodes, RFID technology does not require a user to physically locate and scan tags as the RFID readers use radio frequency signals for scanning them. RFID enables the simultaneous identification of samples and automates data collection, which largely reduces human errors and workload. Thus, such factors will drive the RFID segment in the market during the forecast period.

Regional Analysis

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North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. North America, being one of the leading regions in healthcare technology adoption, has witnessed a growing adoption of anatomic pathology track-and-trace solutions. This can be attributed to several factors, including the rise in chronic diseases, advancements in diagnostic technology, and the need for efficient laboratory operations. The market is driven by the rising demand for accurate and reliable diagnostic procedures. 

In addition, stringent regulations and guidelines by regulatory bodies, such as the College of American Pathologists (CAP) and the Food and Drug Administration (FDA), have contributed to the increased adoption of track-and-trace solutions. These regulations aim to ensure patient safety, minimize errors, and maintain standardized practices in diagnostic laboratories. Thus, such factors are expected to collectively drive the growth of the anatomic pathology track-and-trace solutions market in North America.

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Key Anatomic Pathology Track and Trace Solutions Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Agilent Technologies Inc.: The company offers anatomic pathology track and trace solutions such as Companion Diagnostics and NGS for Pathologists.

• cerebrum corp
• Clinisys Inc.
• CompuGroup Medical SE and Co. KGaA
• Danaher Corp.
• F. Hoffmann La Roche Ltd.
• Mikroscan Technologies Inc.
• MILESTONE MEDICAL
• PHC Holdings Corp.
• Psyche Systems Corp
• Sakura Finetek USA Inc.
• Siemens Healthineers AG
• Visiopharm AS
• Cirdan
• Indica Labs Inc.
• LigoLab Information Systems
• Pathcore Inc
• Proscia Inc.
• XIFIN Inc.
• Voicebrook Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Anatomic Pathology Track and Trace Solutions Market: Key Drivers, Trends, Challenges, and Customer Landscape

There are multiple factors influencing market growth and forecasting. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. 

Key Anatomic Pathology Track and Trace Solutions Market Drivers

The growing adoption of automated systems in laboratories is the key factor driving market growth. Market players manufacturing anatomic pathology track-and-trace products are adopting automated solutions comprising high throughput machines integrated with automated sample collection and analysis techniques. Automated techniques have facilitated rapid and high-precision results. Moreover, automation has also enabled an increase in production and a reduction in test time without compromising the quality and purity standards. 

Additionally, anatomic pathology laboratories are using workflow automation systems to considerably reduce the costs associated with labor and materials. Furthermore, the use of automated systems for device-to-device communication and digital barcoding for sample tracking will make traceability cost-effective and procedures less prone to errors. Therefore, the growing adoption of automated systems in laboratories is expected to drive the growth of the global anatomic pathology track-and-trace solutions market during the forecast period.

Significant Anatomic Pathology Track and Trace Solutions Market Trends

Digitization of healthcare is the primary trend shaping market growth. The implementation of digitization in the healthcare industry has significantly influenced market trends and analysis. Key benefits include improved coordination between doctors and patients, enhanced communication among multiple physicians, real-time access to health information, and strengthened data security. In the domain of anatomic pathology track-and-trace solutions, digitization has led to increased efficiency in the specialty, more reproducible specimens, and a noteworthy reduction in the workload of pathologists.

Furthermore, digitization of anatomic pathology laboratories also decreases the barriers between laboratories in different regions, facilitating referrals and consultations. It can also increase the accessibility of slides by various pathology laboratories and hospitals as the information from it can be stored in the cloud and retrieved from anywhere easily. Therefore, such factors are expected to positively impact the market growth during the forecast period.

Major Anatomic Pathology Track and Trace Solutions Market Challenges

The increasing cost of healthcare treatments is a challenge that affects market growth. Advances in healthcare technology have been monumental in the diagnosis, treatment, and prevention of several diseases. However, the costs of some of the technologies are partially responsible for the overall rise in healthcare costs. Technology can consume more time and money in an organization for training, support, programming, and project development, thereby proving that return on investment (ROI) is a significant risk.

In addition, certain in-vitro diagnostic tests performed by pathology laboratories for the diagnosis of conditions such as cancer and rare diseases require the use of expensive instruments, consumables, and highly trained research personnel, which increases the overall cost of such tests. The high cost of these tests reduces their adoption among patients with budget constraints. Thus, the increasing healthcare costs are expected to impede the growth of the global anatomic pathology track-and-trace solutions market during the forecast period.

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Key Anatomic Pathology Track and Trace Solutions Market Customer Landscape

The market report includes the adoption lifecycle of the market forecast, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market analysis and report also include key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Anatomic Pathology Track and Trace Solutions Market Customer Landscape

Segment Overview

The anatomic pathology track and trace solutions market report forecasts market growth analysis by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends from 2018 to 2028. 

• End-user Outlook
  • Hospital laboratories
  • Independent and reference laboratories
  • CRO and others

• Technology Outlook
  • Barcode
  • RFID

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Argentina
    • Australia
    • Brazil

Anatomic Pathology Track and Trace Solutions Market Scope
Report Coverage	Details
Page number	163
Base year	2023
Historic period	2018-2022
Market forecasting period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 14.47%
Market Growth 2024-2028	USD 549.67 million
Market structure	Fragmented
YoY growth 2023-2024(%)	12.84
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 38%
Key countries	US, Germany, UK, France, and China
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Agilent Technologies Inc., cerebrum corp, Clinisys Inc., CompuGroup Medical SE and Co. KGaA, Danaher Corp., F. Hoffmann La Roche Ltd., Mikroscan Technologies Inc., MILESTONE MEDICAL, PHC Holdings Corp., Psyche Systems Corp, Sakura Finetek USA Inc., Siemens Healthineers AG, Visiopharm AS, Cirdan, Indica Labs Inc., LigoLab Information Systems, Pathcore Inc, Proscia Inc., XIFIN Inc., and Voicebrook Inc.
Market dynamics	Parent market research and growth analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Anatomic Pathology Track and Trace Solutions Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the anatomic pathology track and trace solutions market between 2024 and 2028
• Precise estimation of the anatomic pathology track and trace solutions market size and its contribution to the market in focus on the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies' position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of anatomic pathology track and trace solutions market companies

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