Histology and Cytology Market to grow with a CAGR of 12.15% through 2028
The
increasing prevalence of cancer is expected to drive the Global Histology and
Cytology Market growth in the forecast period, 2024-2028.
According
to TechSci Research report, “Histology and Cytology Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, Global
Histology and Cytology Market stood at USD 15.74 Billion in 2022 is anticipated
to grow at an impressive rate of 12.15% in the forecast period, 2024-2028. The
market for Histology and Cytology devices has witnessed consistent growth over
the past decade, primarily driven by factors such as the rising prevalence of
cancer, increasing standardization of pathological laboratories, and
technological advancements in diagnostic and molecular techniques. The
increasing burden of cancer on society is found to be a major threat to
developing countries, owing to lower disposable income and dynamic
demographics. Cancer has been the leading cause of mortality globally and has
resulted in deaths that have accounted for the largest share of mortality.
Moreover,
the histology and cytology market has also experienced huge growth in the
healthcare industry as several fatal diseases can be diagnosed through these
clinical studies. According to the Globocan, 2020 report, about 2,206,771 cases
of new lung cancer were diagnosed in 2020 around the world, and about 1,796,144
people died because of lung cancer in 2020, globally, which shows a burden of
lung cancer. Due to the observations at the cellular level, the companies
primarily prefer cytology-based diagnostic methods. Since in the coming decade,
companies are focusing on diagnosis at the molecular level, cytology is
expected to play a vital role. The increasing cervical cancer cytology test
approvals are expected to drive the growth of the studied segment during the
forecast period which will further drive the growth of the Global Histology and
Cytology Market during the forecast period.
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Similarly,
lack of awareness among the public for diagnostic tests and diagnostic accuracy
issues with histopathological and cytopathological tests are the major factors
restraining the growth of Global histology and cytology market during the
forecast period. Also, mislabelled specimens, stringent government rules,
complicated procedures associated with histology and cytology along with low
cytology tests restrict the growth of Global Histology and Cytology Market
during the forecast period.
The
Global Histology and Cytology Market is segmented into Type of Examination,
Product, Application and company.
Based
on the Type of Examination, Global Histology and Cytology market is divided
into Histology, Cytology. The cytology segment accounted for the largest
revenue share in 2022 and is expected to exhibit a rapid CAGR over the forecast
period. This can be attributed to the increasing prevalence of breast cancer so
the growing demand for cancer screening is increased along with Due to the
observations at the cellular level, the companies primarily prefer
cytology-based diagnostic methods. The increasing cervical cancer cytology test
approvals are expected to drive the growth of the studied segment during the
forecast period. Thus, owing to the above factors during the forecast period,
the demand for cervical cancer cytological methods is expected to grow, with
more number of companies exploring the method. Moreover, the surge in the
number of well-equipped clinical laboratories and favorable reimbursement for
cancer screening and laboratory tests have a positive effect on the market
growth.
Major
companies operating in Global Histology and Cytology Market are:
- Hologic,
Inc.
- F
Hoffmann-La Roche AG.
- Abbott
Laboratories Inc.
- Becton
Dickinson & Co.
- Danaher
Corporation.
- Merck
KGaA.
- Thermo
Fisher Scientific, Inc.
- Sysmex
Corporation.
- Trivitron
Healthcare.
- Koninklijke
Philips N.V.
In
January 2021, Biocare Medical, LLC released ONCORE Pro, a completely automated
staining platform for Immunohistochemistry (IHC) and In Situ Hybridization
(ISH) applications.
In
September 2020, GeneTex, Inc. entered into a partnership with HistoWiz, Inc.
for establishing various validated antibodies for immunohistochemistry in the
human COVID-19 infected tissues.
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“North
America region is expected to witness significant growth due to the high
incidences of cancer, extensive R&D activities, presence of key players,
and established research infrastructure for pathology services. Also, The high
rate of product approval and commercialization in the region and driving the
growth of the Histology and Cytology market. Additionally, researchers are
increasingly evaluating new cytology which is further fueling the growth of the
market for histology and cytology in the region. The various launch for
efficient screening of tissues and cells for diagnostic purpose is anticipated
to propel the market growth over the forecast period and is expected to further
boost the global Histology and Cytology market. Also, advancements such as
digital pathology solutions and automated tissue processing systems have
resulted in faster and more precise processes, which has led to greater
adoption of these technologies in North America” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Histology
and Cytology Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028, Segmented By Type Of Examination (Histology, Cytology), By
Product (Instruments and Analysis Software System, Consumable and Reagents), By
Application (Drug Discovery & Designing, Clinical Diagnostics, Research),
By Region and Competition”,
has evaluated the future growth potential of Global Histology and Cytology
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Histology and
Cytology Market.
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