Rockville, April 18, 2023 (GLOBE NEWSWIRE) -- Histopathology Testing Equipment Market is expected to witness a CAGR of 5.1% during the forecast period. The market is expected to reach a valuation of US $ 11.7 Billion by 2033 end.
The emergence of numerous chronic illnesses led to a growth in healthcare spending and research activities, which is anticipated to positively impact the sales of histopathology equipment and consumables in the upcoming years. Future sales of histology kits are anticipated to increase due to the expanding usage of histopathology testing equipment in clinical autopsies.
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Other factors that could boost the shipments of histopathology testing equipment over the course of the forecast period include the high demand for precise disease diagnosis, developments in histopathology, an increase in the number of novel histopathology machines and laboratory equipment that are introduced, and the rising incidence of cancer.
The opening of more diagnostic and research facilities is also anticipated to spur demand for scientific and laboratory equipment used in histopathology. Through 2033, it is anticipated that the need for histopathology testing equipment will also be influenced by the ageing population around the world.
Report Attributes | Details |
| Forecast Period | 2023 - 2033 |
| Value Projection (2033) | US$ 11.7 Billion |
| Growth Rate (2023-2033) | 5.1% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 63 Tables |
| No. of Figures | 103 Figures |
Key Takeaways from Market Study
- From 2023 to 2033, shipments of histopathology testing equipment are extrapolated to rise steadily at 5.1% CAGR.
- Histopathology consumables accounted for more than 70% share of the global market in 2022.
- Histopathology testing equipment sales are set to amass a revenue of US$ 11.7 billion by 2033-end.
Key Companies Profiled in this Report
- Thermo Fisher Scientific
- Danaher Corporation
- Hoffman-la-Roche Ltd.
- Leica Biosystems
- Sakura Finetechnical Co. Ltd.
- Agilent Technologies Inc.
- Abcam
- Advanced Cell Diagnostics Inc.
- Cardinal Health Inc.
- Merck KGaA
- Abbott Laboratories
Market Drivers:
- High prevalence of chronic diseases such as cancer, cardiovascular diseases, and neurological disorders is one of the major drivers of the histopathology testing equipment market.
- The development of advanced histopathology testing equipment with features such as digital imaging, computer-aided diagnosis, and high-throughput screening is expected to drive the growth of the market.
- The aging population is more prone to chronic diseases, and as the number of elderly people continues to rise globally, the demand for histopathology testing equipment is also expected to increase. Besides this, healthcare spending by governments and private organizations is expected to boost the growth of the histopathology testing equipment market.
- The demand for personalized medicine is increasing, and histopathology testing plays a crucial role in developing personalized treatment plans for patients. Moreover, a rise in awareness about the importance of early diagnosis of diseases is expected to drive the demand for histopathology testing equipment.
- The increasing number of diagnostic centers and hospitals across the world is expected to boost the demand for histopathology testing equipment.
Market Trends:
- The integration of AI technology with histopathology testing equipment is one of the major trends in the market. AI can assist in automated image analysis, reducing the time and effort required for manual analysis and improving diagnostic accuracy.
- The digitization of pathology is another major trend in the market, with the adoption of digital imaging and computer-aided diagnosis systems. This allows for remote access to images and improved collaboration between pathologists.
- The trend towards personalized medicine is driving the adoption of histopathology testing equipment, as it plays a critical role in developing personalized treatment plans for patients.
- Liquid biopsy is emerging as an alternative to traditional tissue biopsy, and is gaining popularity due to its non-invasive nature. This trend is expected to impact the histopathology testing equipment market, as liquid biopsy requires different equipment and techniques.
- Automation is increasingly being adopted in histopathology laboratories, with the aim of improving efficiency and reducing errors. This trend is expected to continue, as the demand for faster and more accurate results increases.
- With the saturation of developed markets, companies are focusing on emerging markets such as China, India, and Brazil, where there is a growing demand for histopathology testing equipment.
Key Restraints:
- High cost of histopathology testing equipment is a major restraint for market growth, as it limits the adoption of these devices, especially in low- and middle-income countries. Moreover, the shortage of skilled professionals to operate and maintain the equipment is another major challenge faced by the market.
- The regulatory requirements for approval of histopathology testing equipment are very stringent, which leads to delays in product launch and limits market growth.
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Competitive Landscape:
Key players in the market are focusing on new products that help boost the sales potential and overall share in the market. Several players in the market launched new products to cater to the growing demand for histopathology testing equipment.
- For instance, Leica Biosystems launched HistoCore Pegasus Plus in 2022. This is a new compact dual-retort tissue processor to address the challenges faced by mid-volume laboratories in terms of processing quality.
- In March 2021, Roche Diagnostics launched the VENTANA DP 200 slide scanner, which is designed to improve laboratory efficiency and productivity. Similarly, in February 2021, Sakura Finetek USA, Inc. launched the Tissue-Tek Prisma® H&E Stainer, which is a fully automated staining system for histology laboratories.
Moreover, several players in the market formed partnerships and collaborations in 2021 to expand their product offerings and improve their market position.
- For instance, in January 2021, Leica Biosystems Nussloch GmbH and Ultivue, Inc. announced a partnership to develop an automated multiplexing system for tissue-based biomarker research.
Histopathology Testing Equipment Industry Research Segments
- By Product Type :
- Instruments
- Tissue Processor Equipment
- Automatic
- Manual
- Tissue Embedding Equipment
- Slide Strainer Systems
- High-throughput Strainers
- Compact Strainers
- Cover Slipper Systems
- Fully Automated Cover Slipping Workstations
- Flexible Cover Slipping Workstations
- Microtomes & Cryostats
- Rotatory/Manual Microtomes
- Semi-Automatic Microtomes
- Fully Automatic Microtomes
- Manual Cryostats
- Fully Automatic Cryostats
- Semi-Automatic Cryostats
- Microscopes
- Other Instruments
- Tissue Processor Equipment
- Consumables
- Reagents & Antibodies
- Probes
- Kits
- Other Consumables
- Instruments
- By Application :
- Drug Discovery
- Disease Diagnosis
- Research Applications
- By End User :
- Hospital-based Laboratories
- Diagnostic Centers
- Research Organizations
- By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the Histopathology Testing Equipment Market forecast statistics for the period of 2023-2033.
The study divulges essential insights on the market on the basis of Product Type (Instruments, Consumables), By Application (Drug Discovery, Disease Diagnosis, Research Applications), By End User and across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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