Market Size of Histology Equipment Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 4.70 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Histology Equipment Market Analysis
The histology equipment market is projected to register a CAGR of 4.7% during the forecast period.
The COVID-19 pandemic affected the histology equipment market by reducing the demand for slide staining system and tissue processing systems, as clinical testing providers had to reallocate assets and staff to focus on conducting COVID-19 diagnostic tests. Carrying tissue samples between pathologist homes and hospitals and providing access to a microscope and IT system at the pathologist's place were some of the logistics challenges. However, companies took 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. However, post-pandemic, the market studied is performing at a regular pace, with the increasing use of histology equipment across the healthcare research industry.
Some of the major factors responsible for the growth of the histology equipment market include the rising burden of cancer and other chronic diseases, the high demand for advanced diagnosis equipment, and growing awareness on skin diseases. According to GLOBOCAN 2020 statistics, the total number of new cancer cases reached 19,292,789, while the total number of deaths due to cancer reached 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.
Along with the increasing sophistication and innovative progressions in histology equipment frameworks, utilizing artificial intelligence (AI) for critical processes may drive industry development in the future. For instance, in February 2021, Solmedia Limited signed a UK exclusive partnership with SLEE medical GmbH that allowed Solmedia the UK exclusivity to the range of top-quality, high-precision pathological equipment.
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 cell sections to analyze a wide scope of illnesses, for example, malignancies and other irresistible sicknesses,adds to the development of the market for histology.
However, the high cost of setting histology laboratory, the lack of skilled professionals, and stringent government regulations are expected to restrain market growth over the forecast period.
Histology Equipment Industry Segmentation
As per the scope of the report, histology equipment is a device used to study the microscopic anatomy of biological tissues. Histology laboratories are well-equipped for paraffin histology, including automated processing, embedding, sectioning, and staining. The histology equipment market is segmented by instrument type (slide staining systems, scanners, tissue processing systems, and other instrument types), end user (hospitals, pharmaceutical and biotechnology companies, diagnostic centers, and other end users), and geography (North America, Europe, Asia-Pacific, and Rest of the World). The report also covers the estimated market sizes and trends for 17 countries across major regions. The report offers market size and forecast values in USD million for the above segments.
By Instrument Type | |
Slide Staining Systems | |
Scanners | |
Tissue Processing Systems | |
Other Instrument Types |
By End User | |
Hospitals | |
Pharmaceutical and Biotechnology Companies | |
Diagnostic Centers | |
Other End Users |
Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
Rest of the World |
Histology Equipment Market Size Summary
The histology equipment market is experiencing a steady growth trajectory, driven by the increasing prevalence of cancer and chronic diseases, alongside a rising demand for advanced diagnostic tools. The market's expansion is further supported by growing awareness of skin diseases and the integration of artificial intelligence into histology equipment, which enhances automated diagnosis and image analysis. Despite challenges posed by the COVID-19 pandemic, such as logistical issues and a temporary decline in demand for certain equipment, the market has rebounded and is now progressing at a regular pace. Technological advancements, particularly in slide staining systems, are expected to dominate the market, offering improved diagnostic capabilities for various diseases, including skin cancer. The market's growth is also bolstered by strategic partnerships and innovations in digital pathology solutions.
North America is anticipated to hold the largest market share, attributed to its advanced healthcare infrastructure, high healthcare expenditure, and increased patient awareness of skin diseases. The United States, in particular, is poised to lead the market due to the presence of key industry players and a high incidence of cancer, which drives demand for histology equipment. The region's market is characterized by the integration of cutting-edge technologies and significant investment in research and development. The competitive landscape of the histology equipment market is moderately concentrated, with major players like Leica Biosystems, Roche, and Thermo Fisher Scientific leading the charge. These companies are actively engaging in product launches and strategic acquisitions to enhance their market presence and drive innovation.
Histology Equipment Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.2.1 Rising Burden of Cancer and Other Chronic Diseases
-
1.2.2 High Demand for Advanced Diagnosis Equipment
-
-
1.3 Market Restraints
-
1.3.1 High Cost for Setting Histology Laboratories
-
1.3.2 Lack of Skilled Professionals and Stringent Government Regulations
-
-
1.4 Industry Attractiveness - Porter's Five Forces Analysis
-
1.4.1 Bargaining Power of Buyers/Consumers
-
1.4.2 Bargaining Power of Suppliers
-
1.4.3 Threat of New Entrants
-
1.4.4 Threat of Substitute Products
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 By Instrument Type
-
2.1.1 Slide Staining Systems
-
2.1.2 Scanners
-
2.1.3 Tissue Processing Systems
-
2.1.4 Other Instrument Types
-
-
2.2 By End User
-
2.2.1 Hospitals
-
2.2.2 Pharmaceutical and Biotechnology Companies
-
2.2.3 Diagnostic Centers
-
2.2.4 Other End Users
-
-
2.3 Geography
-
2.3.1 North America
-
2.3.1.1 United States
-
2.3.1.2 Canada
-
2.3.1.3 Mexico
-
-
2.3.2 Europe
-
2.3.2.1 Germany
-
2.3.2.2 United Kingdom
-
2.3.2.3 France
-
2.3.2.4 Italy
-
2.3.2.5 Spain
-
2.3.2.6 Rest of Europe
-
-
2.3.3 Asia-Pacific
-
2.3.3.1 China
-
2.3.3.2 Japan
-
2.3.3.3 India
-
2.3.3.4 Australia
-
2.3.3.5 South Korea
-
2.3.3.6 Rest of Asia-Pacific
-
-
2.3.4 Rest of the World
-
-
Histology Equipment Market Size FAQs
What is the current Histology Equipment Market size?
The Histology Equipment Market is projected to register a CAGR of 4.70% during the forecast period (2024-2029)
Who are the key players in Histology Equipment Market?
Leica Biosystems Nussloch GmbH, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Agilent Technologies, Inc. and BioGenex are the major companies operating in the Histology Equipment Market.