Histology Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Histology Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The histology equipment market is projected to register a CAGR of 4.7% during the forecast period.

Since its start, the COVID-19 pandemic has affected the histology equipment market by facing a decline in the demand for the slide staining system and tissue processing system, as the clinical testing providers had to reallocate assets and staff to focus on the conduction of the COVID-19 diagnostic tests. According to a study, 'Histopathology during the COVID-19 pandemic: resilience through adaptation and innovation,' published in December 2020, carrying tissue samples between pathologist homes and hospitals and providing access to a microscope and IT system to the pathologist place were some of the logistics challenges faced due to COVID-19 situations. However, companies have taken definite measures to overcome such challenges. For instance, Roche digital pathology provided a complete solution from slide scanning to full digital workflow and automated image analysis so that chronic disease diagnoses are conducted without any delay. Thus, a profound impact is expected on the global histology equipment market due to COVID-19.

Some of the major factors responsible for the growth of the histology equipment market include the rising burden of cancer and other chronic diseases, high demand for advanced diagnosis equipment, and growing awareness for skin diseases. According to GLOBOCAN 2020 statistics, the total number of new cancer cases records at 19,292,789, whereas the total number of deaths due to cancer records at 9,958,133, worldwide. Furthermore, as per the International Agency for Research on Cancer (IARC) data, 1 in 5 people suffer from cancer during their lifetime, and 1 in 8 men and 1 in 11 women die from cancer, globally.

Moreover, developing awareness among patients relating to skin sicknesses due to an increase in skin diseases, such as malignant melanoma, may invigorate histology equipment market development during the forecast period. For instance, according to the Skin Cancer Foundation, the malignant melanoma cases have increased by almost 53% during the period from 2008 to 2018, globally. Therefore, the demand for histological analysis of skin tissues is expected to drive the market.

In addition to increasing sophistication and innovative progressions in histology equipment frameworks, utilizing artificial intelligence (AI) to do critical processes may drive industry development in the future. For instance, in March 2020, Agilent Technologies Inc. partnered with Visiopharm to fight against cancer. Agilent’s cell staining management solutions combined with Visiopharm’s digital interpretation AI-driven solutions may help in providing improved patient care and diagnostic accuracy. Additionally, the coordination of artificial intelligence with histology equipment offers different benefits, including automated diagnosis and efficient image analysis. These factors are likely to drive the histology equipment market. The increase in the pervasiveness of immunohistochemistry for imaging cells sections to analyze a wide scope of illnesses, for example, malignancies and other irresistible sicknesses, is adding to the development of the market for histology.

However, the high cost of setting histology laboratory, lack of skilled professionals, and stringent government regulations are expected to restrain market growth over the forecast period.

Key Market TrendsThe Slide Staining Systems Segment is Expected to Account for the Largest Market Share During the Forecast Period

The slide staining systems segment is expected to account for the largest market share during the forecast period due to different technological advancements, offering better insights for diagnosing various bacterial, fungal, viral, and parasitic disorders and skin cancer. Slide staining frameworks are devices for improving basic staining strategies relating to microbiological diagnostics and exploration. Slide staining frameworks empower research laboratories and institutes to fulfill their high output needs and keep up with preciseness throughout the process. The key factor driving this segment is increasing automation. For instance, In June 2020, Epredia and Lunaphore Technologies SA announced the distribution agreement of the Labsat research platform in the United States, United Kingdom, Germany, and Japan. The Labsat research platform is an ultra-fast automated tissue staining platform used for rapid diagnosis. It helps in accurate staining with improved protocol turnaround time.

Moreover, factors, such as rising user preference for technology aiming at reducing manual operations, increasing demand for diagnostic testing, and rising burden of cancer and other chronic diseases, may drive the slide staining segment. For instance, according to the World Health Organization (WHO), in 2021, it is found that almost 71% of deaths occur due to chronic diseases globally, and out of it, 15 million people are aged between 30 to 69 years. Additionally, 2 in every 3 senior citizens suffer from chronic disease as per the first Longitudinal Ageing Study in India (LASI) published by the Union Ministry of Family and Health Welfare in January 2020. Furthermore, the increasing sophistication of histology equipment, the introduction of new products, and the rise in skin diseases may boost the instrument segment growth.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

North America is expected to gain the highest market share during the forecast period due to the rise in patient awareness about skin diseases, the presence of technologically developed healthcare infrastructure, and an increase in healthcare expenditure. The North American region is estimated to be a potential segment of the histology equipment market. It generates most of the revenue from this region because of the higher health expenditure, high patient awareness levels, and a large number of cancer incidences, among other chronic diseases.

The United States in this region may dominate the market due to the presence of major key players. According to the facts by the American Academy of Dermatology Association, in 2021, approximately 9,500 people in the United States are diagnosed with skin cancer every day. This is expected to increase the demand for histology equipment in the United States. Moreover, integrating advanced technologies, such as AI, which can be used to carry out various critical processes, such as counting T-cells, which otherwise increases the time used by the researchers for doing the same task, and increasing expenditure on R&D are the strategies used by the major players to sustain their position in the market. Thus, this region is expected to dominate the histology equipment market during the forecast period.

Competitive Landscape

The histology equipment market is moderately competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the key players in the market are Leica Biosystems Nussloch GmbH, F Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Agilent Technologies Inc., Biogenex, Sakura Finetek, Intelsint, Biocare, Ted Pella, Inc., and Radical Scientific Equipments Pvt. Ltd.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Leica Biosystems Nussloch GmbH
F Hoffmann
La Roche Ltd
Thermo Fisher Scientific Inc.
Agilent Technologies Inc.
BioGenex
Sakura Finetek
Intelsint
Biocare
Ted Pella Inc.
Radical Scientific Equipments Pvt. Ltd

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.