As per the report published by Fior Markets, 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.North America emerged as the leading region in the global histopathology testing equipment with a 41.63% share of market revenue in 2017. However Asia Pacific region is projected to grow at the fastest CAGR of 6.93% over the forecast period.
“Histopathology Testing EquipmentMarket by Product Type (Instruments, Consumables), Application, End User, Regions”,and Global Forecast 2018-2025.
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Major players in the global histopathology testing equipmentmarket 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 among others. There is increasing shift towards automation in the histopathology testing. Thus to serve this demand Agilent Technologies Inc. in 2016 announced the EU launch of a new CE-IVD labeled IQFISH lung cancer panel for automated analysis. This new lung cancer panel enables acceleration of routine, automated testing in pathology laboratories
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 to emerge as the dominant segment with a 72.59% share of market revenue in 2017. Application is segmented into drug discovery, disease diagnostics and research application. Disease diagnostics segment emerged as the leader in the global histopathology testing equipmentmarket with a 43.29% share of market revenue in 2017. However drug discovery segment is projected to progress at an accelerated CAGR of 6.72% over the forecast period. End user segment is categorized into hospital based laboratories, diagnostic centers and research organizations.Owing to factors such as rising number of referrals to the diagnostics centers as well as growing private investment in the diagnostics sector, the diagnostic centers emerged as the leading end user segment with a 57.16% share of market in 2017.
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Even though the factors such as growing prevalence of cancer and 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 equipments as well as lack of skilled manpower are expected to hamper the market growth.
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