The global Histology Equipment market size is projected to reach approximately $7.93Billion by 2030, at a CAGR of 4.7% from 2022 to 2030. Histology is a medical specialty that deals with the microscopic examination of tissue samples. Histology equipment is essential for this type of work. The most common types are microscopes, which allow researchers to view tissues and cells. Other common types of histology equipment include tools for the preparation, preservation, and staining of tissue samples.
COVID-19 Impact Analysis
COVID-19 affected many businesses in various sectors. It also affected the Histology Equipment market. Demand for fragment staining systems and tissue processing systems declined because clinical testing providers had to reallocate assets and staff to focus on preventing the spread of the virus. Additionally, one of the logistical challenges this virus caused was how difficult it made it to transfer tissue samples between pathologists’ homes and hospitals and provide access to a microscope, IT system, or biomaterials outside of a lab setting. Despite this, companies taking steps to overcome such challenges. Roche’s digital pathology solution provided a full range of services from slide scanning to automated diagnosis so that chronic diseases can be managed more effectively. This is supposed to have a profound impact on the global histology equipment market due to COVID-19.
The History equipment market size has increased due to an increased awareness of several skin diseases around the world. The prevalence of chronic diseases, such as cancer has led to the increased adoption of equipment for advanced diagnosis. There will also be an increase in demand for AI-based healthcare solutions as the incorporation of AI technology improves patient care and diagnostic accuracy.
⮚ Increasing Prevalence of Chronic Diseases, such as Cancer
Some of the major factors responsible for the growth in this market are the increasing numbers of incidences of cancer and other chronic diseases, the need to upgrade diagnosis equipment, and awareness of skin diseases. According to GLOBOCAN 2020 statistics, the world’s total number of new cancer cases is 19.29 million while the death toll due to cancer is just over 10 million. Furthermore, as per the International Agency for Research on Cancer (IARC) data, 1 in 5 people suffer from cancer during their lifetime. Cancer is a major health concern all around the world, with most cases occurring annually
- High Cost of Histology Equipments and Lack of Skilled Labors
The worldwide histology equipment market will be affected by the prevalence of strict government regulations, higher operational costs for setting up pathology laboratories, and the lack of skilled professionals. Many laboratories around the world focus on histology, but to meet the demand, they need to purchase or build histology equipment that is high-quality and certified; which can be costly. The lack of skilled professionals is also a major challenge, as it is difficult to find qualified people who can operate histology equipment.
⮚ Adoption of Advanced AI in the field of Pathology
Technological advancements will not only redefine pathology in the coming years but will allow the professionals to gather, process, and use that data at an optimal level- which is anticipated to result in better quality medical services. The development of artificial intelligence has paved the way for dramatic changes in the medical field. Artificial Intelligence solutions may help to provide improved patient care and diagnostic accuracy. Additionally, the use of AI in histology equipment offers several benefits including automated diagnosis and efficient image analysis.
Based on the Type, the Histology Equipment market is segmented based on Slide-staining Systems, Scanners, and Tissue-processing Systems. The Slide-staining Systems segment is anticipated to account for the large market share due to its wide range of uses such as tissue processing, immunohistochemistry, and cytogenetics stain. Scanners are expected to witness high growth during the forecast period owing to their ability to produce high resolution and clear images.
Based on Application, the global Histology Equipment market has been divided into Hospitals, Diagnostic Centers, and Research Laboratories. The Diagnostic Centers segment is expected to hold the largest market share as the number of autopsies carried out in these centers is increasing. The need for earlier diagnosis of infectious diseases has led to higher adoption of histology equipment such as laboratory workflow, tissue embedders, and cryostats.
Global Histology Equipment Market Share, by Segmentation
Based on region, the global Histology Equipment market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America is projected to dominate the use of the Histology Equipment market followed by the Asia-Pacific and Europe regions.
North America Market
The North American market is expected to be a dominant presence in the Histology Equipment market. Several contributing factors lead to this region’s dominance which includes higher health expenditures, a high degree of patient awareness, and an increased incidence of cancer. The United States may dominate the market in this region because of the presence of some major key players. According to a study by the American Academy of Dermatology Association, in 2021, 9050 people in the US were newly diagnosed with skin cancer every day.
The Asia Pacific region is forecast to experience accelerated Histology Equipment market growth over the next few years. Rapidly developing healthcare and medical sector as well as increasing investment in improving infrastructure are major drivers of the market growth. With globalization and free-trade agreements, the region has become one of the most attractive sourcing destinations for companies.
The market comprises tier-1, tier-2, and local players. With their wide product portfolios, tier-1 and tier-2 players have a global reach. Because of their strategic innovations and broad regional presence, companies such as Leica, Roche, Thermo Fisher, Agilent, BioGenex, Sakura Finetek, Intelsint, and Biocare, lead the global Histology Equipment business. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as growth, product releases, and alliances.
- Thermo Fisher
- Sakura Finetek
In October 2020, Sakura Finetek Europe launched Tissue-Tek SmartConnect; a new product that will help with automation in the histology lab by connecting, processing, and embedding.
Scope of the Report
Global Histology Equipment Market, by Type
- Slide-staining Systems
- Tissue-processing Systems
Global Histology Equipment Market, by Application
- Diagnostic Centers
- Research Laboratories
Global Histology Equipment Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World
|Market Size||2030: $ 7.93Billion|
|CAGR||4.7% CAGR (2022-2030)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Key Segmentations||Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, Latin America, Middle East, Africa|
|Key Vendors||Leica, Roche, Thermo Fisher, Agilent, BioGenex, Sakura Finetek, Intelsint, and Biocare|
|Key Market Opportunities||Adoption of Advanced AI in the field of Pathology|
|Key Market Drivers||Increasing Prevalence of Chronic Diseases, such as Cancer|
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Histology Equipment market trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities in the future
- Histology Equipment market historical market size for the year 2020, and forecast from 2021 to 2028
- Histology Equipment market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
- To identify and understand the various factors involved in the global Histology Equipment market affected by the pandemic
- To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
Global Histology Equipment Market FAQs
1. What is the study period of this market?
● The study period of the global Histology Equipment market is 2020 – 2030
2. What is the growth rate of the global Histology Equipment market?
● The global Histology Equipment market is growing at a CAGR of ~ 4.7% over the next 7 years
3. Which region has the highest growth rate in the global Histology Equipment market?
● Asia Pacific is expected to register the highest CAGR during 2022 – 2030
4. Which region has the largest share in the global Histology Equipment market?
● North Americaholds the largest share in 2021
5. Who are the key players in the global Histology Equipment market?
● Leica, Roche, Thermo Fisher, Agilent, BioGenex, Sakura Finetek, Intelsint, and Biocare are the major companies operating in the global Histology Equipment market.
6. Do you offer Post Sale Support?
● Yes, we offer 16 hours of analyst support to solve the queries
7. Do you sell particular sections of a report?
● Yes, we provide regional as well as country-level reports. Other than this we also provide a sectional report. Please get in contact with our sales representatives.