Global Histopathology Testing Equipment Market Predicted to Value Over US$ 8 Billion by 2029 End

  • 09 Jul 2019

Global histopathology testing equipment market is envisioned to value over US$ 8 Billion by 2029 end and register a CAGR of over 4% from 2019 to 2029.
Histopathology is the perusal of tissues from the body with the help of a microscope and the signs and characteristics of the disease can be spotted. The histopathology testing equipment tools are utilized for the perusal of tissues and preparing samples.
The American Cancer Society and National Center for Health Statistics have revealed that the cancer cases in the United States have crossed 1,685,000 in 2017 and the cases are likely to increase in the coming years. The rising cancer incidences have led to more demand for histopathology testing equipment market.

Growing cases of cancer and associated mortalities have led to more demand for efficient tissue diagnosis. Rising demand less-invasive diagnostic procedures for cancer are inflating the size of the market. The rising geriatric population has been associated with diseases and chronic disorders have also pushed more demand for histopathology testing equipment. 

The market is bifurcated on the basis of product type, by application, by the end user, and by region. The product is further divided into instruments and consumables. Instruments consist of tissue processor equipment, tissue embedding equipment, cover slipper systems, microscopes, microtome & cryostat, and others. The consumables segments consist of reagents & antibodies, probes, kits, others. The rising demands for reagents and antibodies are fueling the growth of the market. Kits and reagents are predicted to contribute to the growth of the market during the forecast. 

Agilent Technologies Inc., acquired Multiplicom NV in 2017 to strengthen it's market presence in histopathology testing equipment market to hold Multiplcom's advanced diagnostic kits.  

Kits are required in high number for sequencing and diagnosing of chronic diseases. The application is segmented into drug discovery, disease diagnosis, research application. Disease diagnosis is contributing to the histopathology testing equipment. Research application is also witnessed to dominate the growth of the market in the coming years. In terms of end user, the market is segmented into hospital-based laboratories, diagnostic centres, and research organizations.  Hospital-based laboratories are expected to control the growth of the market during the forecast period. 

In terms of region, North America regions have emerged as the largest market. Growing incidence of cancer and other diseases coupled with the presence of developed healthcare infrastructure has fueled the growth of the market in the region. Asia-Pacific region is forecasted to be a lucrative region for the manufacturers. The rapid development of healthcare infrastructure, technological advancements, and the rising prevalence of cancer and other chronic diseases have spurred the size of the market in the region.

Key players of the market are Thermo Fisher Scientific, Advanced Cell Diagnostics Inc, Abbott Laboratories, Abcam, Omnyx, Monogram Biosciences, Sakura Fintek, and others. 

Global Histopathology Testing Equipment Market Segmentation
By Product Type

1. Instruments
a.  Tissue Processor Equipment
➢    Automatic 
➢    Manual 

b. Tissue Embedding Equipment
c. Slide Strainers Systems
➢    High-throughput Strainers  
➢    Compact Strainers

d. Cover slipper Systems 
➢    Fully automated cover slipping workstation 
➢    Flexible cover slipping workstation

e. Microtome & Cryostat
➢    Rotatory/Manual Microtome 
➢    Semi-Automatic Microtome 
➢    Fully Automatic Microtome 
➢    Manual Cryostat 
➢    Fully Automatic Cryostat 
➢    Semi-Automatic Cryostat

f. Microscopes  
g.  Other Instruments

2. Consumables 
a.  Reagents & antibodies 
b. Probes 
c. Kits 
d. Other consumables 

By Application  
•    Drug Discovery 
•    Disease Diagnosis 
•    Research Application 

By End Users
•    Hospital-based laboratories 
•    Diagnostic Centers 
•    Research Organizations  

By Region: 
•    Europe  
•    North America  
•    APAC  
•    Latin America 
•    Rest of World  

Competitive Landscape:  
•    Tier 1 players- established companies in the market with a major market share  
•    Tier 2 players 
•    Emerging players which are growing rapidly 
•    New Entrants   

FutureWise Takeaways: 
•    Growth prospects  
•    SWOT analysis 
•    Key trends 
•    Key data points affecting market growth  

Objectives of the Study: 
•    To provide with an exhaustive analysis on the histopathology testing equipment market based on the product type, by application, by end users, and region 
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints) 
•    To evaluate and forecast micro-markets and the overall market  
•    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions 
•    Profiling of companies to evaluate their market shares, strategies, financials and core competencies  

 

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