The pathology laboratories market size is estimated to be USD 315,238.1 million in 2022 and is expected to witness a CAGR of 7.91% during the forecast period 2023-2033. Surge in the number of healthcare facilities in emerging countries, increasing demand for routine medical checkups, and the advancement in the reimbursement for diagnostic tests are factors contributing to the market growth. Furthermore, rising healthcare expenditure and increasing incidence of chronic diseases is expected to support the market growth. However, lack of skilled workforce is expected to hinder the growth.

Rising healthcare expenditure is projected to fuel the market growth during the forecast period. the expansion of several new hospitals and diagnostic labs, and renovation of existing institutions, has been made possible by the rising healthcare expenditure to enhance the existing healthcare infrastructure in emerging nations. For instance, the Delhi government announced in March 2022 that it will upgrade 15 hospitals and construct 4 new hospital facilities in the city, resulting in the expansion of hospital-based diagnostic centres.

Increasing incidence of chronic diseases is predicted to propel the market growth during the projected period. Regular health check-ups are advised for individuals over 40, due to the increasing incidence of chronic diseases. A greater number of people are preferring to have routine medical checkups as a result of growing health awareness. Many countries require companies to provide their employees with annual checkups, which is expanding the market for diagnostic labs.

Segmentation

By Type

The market is categorized into standalone labs, hospital-based, and diagnostic chains. In 2022, the hospital-based segment accounted for the highest revenue share due to the fact that hospital-based laboratories carry out more tests than other kinds of laboratories, giving them a competitive advantage. Additionally, one of the major factors driving competition between independent labs and hospital-based labs is the existence of various government rules and insurance. Compared to hospital-based labs, standalone labs enable more pathological testing at a lower cost. For instance, an MRI in a hospital-based pathology lab costs more than twice as much as it would at a standalone diagnostic facility, according to a price analysis by Amino. The need for standalone labs is expanding due to the rise in general medical check-up demand brought on by increasing awareness.

By Testing Services

The market is categorized into imaging & radiology tests, covid-19 tests, general physiological & clinical tests, and esoteric tests. In the global market, the imaging & radiology tests segment accounted for the largest revenue share in 2022 owing to development of imaging techniques, the increasing occurrence of accidents, and the target diseases all over the world. Among all diagnostic imaging testing, X-ray imaging is the most prevalent and popular test. The demand for x-rays is increasing due to the rising number of auto accidents and geriatric orthopaedic problems. The esoteric testing segment is expected to expand at the quickest rate during the projection period. Testing for esoteric diseases comprises testing for infectious diseases, endocrinology, cancer, genetics, toxicology, immunology, and neurology.

By End User

The market is segmented into walk-ins, physician referrals, and corporate. In 2022, the physician referrals segment accounted for the largest revenue share owing to the fact that approximately 70% of all medical choices made by doctors are dependent on the results of pathological and diagnostic tests. It is projected that the spread of target diseases among individuals of different ages will promote segment expansion. The corporate segment is anticipated to exhibit profitable growth over the projection period due to advancements in employee welfare programs including yearly medical check-ups in the corporate sector.

Regional Markets

In 2022, North America region accounted for the highest revenue in the pathology laboratories market and is expected to maintain its dominance during the forecast period. This is attributed to the strong medical infrastructure, which is supported by both public and private money. The Centers for Disease Control and Prevention (CDC) estimate that four out of every ten persons in America have several chronic diseases. As they account for one in three deaths in the U.S., cardiovascular disorders are the most prevalent chronic disease. The CDC is concentrating on the diagnosis and prevention of risk factors, such as high blood pressure and cholesterol, that lead to cardiac issues. Asia-Pacific is expected to witness the quickest growth over the projection period due to the availability of affordable pathology tests in the region. Asians account for 60% of diabetes worldwide, according to data published by the Asian Diabetes Prevention Initiative. The highest numbers of adults with diabetes are found in China and India, in which there are 113.9 and 65.1 million cases, respectively. Asians have been found to have 3-5% higher body fat than Europeans, making them more susceptible to diabetes.

Competitor Insights

Some of the key players operating in the pathology laboratories market are Falco Holdings, Exact Sciences Laboratories LLC, Kingmed Diagnostics, Eurofins Scientific, Laboratory Corporation of America Holdings, Healius Limited, Spectra Laboratories, SYNLAB International GmbH, Sonic Healthcare Limited, Quest Diagnostics Incorporated, Dr. Lal Path Labs, Metropolis Healthcare, BioReference., Centro de Diagnósticos, and Unilabs.

To achieve a competitive edge, these companies are implementing a variety of growth strategies. Strategic partnerships, alliances, and agreements with different businesses and research institutions are seen to be the main strategies used by companies in this sector.

• For instance, Pack Health, a provider of patient engagement services, was acquired by Quest Diagnostics in January 2022 in order to improve value-based services. Quest Diagnostics and Paige partnered together in May 2021 with the objective of improving oncology testing through the development of AI-generated pathology.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including type, testing services, and end user from 2023 to 2033.

Report Scope:

Segmentation: Pathology Laboratories Market Report 2022 – 2033

Type (Revenue, USD Million), 2022 – 2033

• Standalone Labs
• Hospital-based
• Diagnostic Chains

Testing Services (Revenue, USD Million), 2022 – 2033

• Imaging & Radiology Tests
• COVID-19 Tests
• General Physiological & Clinical Tests
• Esoteric Tests

End user (Revenue, USD Million), 2022 – 2033

• Walk-ins
• Physicians Referrals
• Corporate

By Region (Revenue, USD Million), 2022 – 2033

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA