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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
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.
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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.
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.
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.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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