New Jersey, NJ, Oct. 14, 2019 (GLOBE NEWSWIRE) -- Increasing awareness regarding cancer screening tests along with growing demand for the advanced histopathology testing equipment’s from diagnostic centres are anticipated to propel the market. The global histopathology testing equipment market is expected to grow from USD 5.63 Billion in 2017 to USD 7.93 Billion by 2025, at a CAGR of 4.37% during the forecast period from 2018-2025, according to the new report published by Fior Markets.
Histopathology is the examination of tissues from the body under a microscope to spot the signs and characteristics of the disease. Histology is the investigation of tissues, and pathology is the investigation of illness. So taken together histopathology truly implies the investigation of tissues as identifies with ailment. A histopathology report describes the tissue that has been sent for examination and the features of what cancer looks like under the microscope. Histopathology testing equipment are tools that are used to prepare samples and examine tissues. Histopathology testing equipment is utilized in the medical laboratories for the biological examinations. The growing incidence of cancer and increasing awareness among the general population regarding cancer are anticipated to provide a major boost to the market growth.
The factors such as growing prevalence of cancer, increasing preference to less-invasive diagnostic procedures for cancer and other malignancies are anticipated to propel the market growth. The high cost of the histopathology testing equipment as well as lack of skilled manpower are expected to hamper the market growth.
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Key players in the global histopathology testing equipment market are Thermo Fisher Scientific, Hoffman-la-Roche Ltd., Leica Biosystems, Agilent Technologies Inc., Merck KGaA, Cardinal Health Inc, Advanced Cell Diagnostics Inc, Abbott Laboratories, Abcam, Sakura Fintek, Oxford Cancer Biomarkers, Nucleix, Monogram Biosciences, Omnyx, and among others. Key players active in the market are involved in collaborative agreements and expansion to bolster the growth of the market.
- For instance in 2019, Thermo Fisher Scientific Inc., introduces Scalable Solution for Optical Fault Isolation of Semiconductor Devices. The new Thermo Scientific Meridian S inverted Static Optical Fault Isolation (OFI) solution, semiconductor failure analysis labs can future-proof their operations with a fully scalable solution. Semiconductor failure analysis engineers and technicians can isolate electrical faults that cause semiconductor devices to fail at end-of-line test. These defects, such as metal shorts, opens, and transistor-level leakage, are localized in the failure analysis workflow to troubleshoot process or design failures and increase overall device manufacturing yield. This all-in-one system includes both photon emission and static laser stimulation applications, and is a cost-effective, high-sensitivity solution for localizing electrical failures in semiconductor devices. The addition of Meridian S also provides semiconductor manufacturers with a reliable static OFI tool that delivers performance. Multiple upgrade paths are available, bringing the industry-leading capabilities of dynamic OFI and high sensitivity emission as customers' lab needs develop.
- For instance in 2019, Hoffman-la-Roche Ltd., announced that the US Food and Drug Administration (FDA) has approved Rozlytrek (entrectinib) for the treatment of adults with ROS1-positive, metastatic non-small cell lung cancer (NSCLC). The FDA has also granted accelerated approval to Rozlytrek for the treatment of adult and paediatric patients 12 years of age and older with solid tumours that have a neurotrophic tyrosine receptor kinase (NTRK) gene fusion without a known acquired resistance mutation, are metastatic or where surgical resection is likely to result in severe morbidity, and have progressed following treatment or have no satisfactory alternative therapy.
Consumables segment had a market value of USD 4.08 billion in 2017
Product type segment is divided into instruments and consumables. Product type is further segmented into tissue processor equipment, tissue embedding equipment, slide strainers systems, cover slipper systems, microtome & cryostat, microscopes, others. Consumables segment is fragmented into reagents & antibodies, probes, kits, others. Factors such as rising demand for reagents and antibodies as well as increasing use of reagents and kits in genomics, sequencing and diagnosis of chronic diseases, led consumables segment emerge as the dominant segment with USD 4.08 billion revenue in 2017.
Drug discovery segment is anticipated to grow at a CAGR of 6.72% in 2018-2025
Application is segmented into drug discovery, disease diagnostics and research application. Disease diagnostics segment emerged as the leader in the global histopathology testing equipment market with USD 2.43 billion revenue in 2017. However, drug discovery segment is projected to progress at an accelerated CAGR of 6.72% over the forecast period.
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Diagnostic centres segment had a market value of USD 3.21 billion in 2017
End user segment is categorized into hospital based laboratories, diagnostic centres and research organizations. Owing to factors such as rising number of referrals to the diagnostics centres as well as growing private investment in the diagnostics sector, the diagnostic centres emerged as the leading end user segment with USD 3.21 billion in 2017.
Regional Segment Analysis of the Histopathology Testing Equipment Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region emerged as the largest market for the histopathology testing equipment with a 41.63% share of market revenue in 2017. Factors such as huge geriatric population, the growing incidence of cancer and other chronic diseases as well as the presence of well-developed medical and healthcare sector led North America region to dominate the global demand for the histopathology testing equipment in 2017. Asia Pacific region is anticipated to grow at an accelerated CAGR of 6.93% over the forecast period. Rapidly developing healthcare and medical sector as well as increasing investment on improving the standards of the healthcare facilities in the region, are some of the factors that are projected to boost this increased growth rate.
About the report:
The global histopathology testing equipment market is analysed on the basis of value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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