PUBLISHER: Grand View Research | PRODUCT CODE: 1587400
PUBLISHER: Grand View Research | PRODUCT CODE: 1587400
The global pathology laboratories market size is estimated to reach USD 612.22 billion by 2030, registering a CAGR of 8.1% from 2025 to 2030, according to a new report by Grand View Research, Inc. The major factors driving the industry include increasing life expectancy, the development of healthcare infrastructure in developing nations, favoring reimbursement, and rising demand for routine medical check-ups.
In addition, the advancement of technology is altering the dynamics of diagnosis. Innovative technologies have made Point of Care Testing(POCT) devices portable and improved sampling techniques, making diagnostic services more accessible and efficient. Several advancements are expected to transform the industry by steering patient care through quality, speed, efficiency, and scalability. The healthcare system is progressively emphasizing the importance of pathological & diagnostic labs in becoming a greater clinical decision-making engine, assisting physicians in making inferences and diagnosing as well as monitoring patients more quickly and accurately.
The COVID-19 pandemic has resulted in higher demand for pathology/diagnostic labs as the testing for COVID-19 was necessary during the pandemic. The rapid rise of COVID-19 infections has resulted in increased funding and testing, which has boosted the overall market growth. For instance, the (NIH) National Institutes of Health in the United States announced in September 2020 that it would grant USD 129.3 million in funding to nine organizations including, Maxim Biomedical Inc., MatMaCorp, MicroGEM International, & others, for scaling-up manufacturing assistance to a new set of COVID-19 testing technologies as component of its initiative to boost diagnostics in the region.