Market Trends of Histology Equipment Industry
This section covers the major market trends shaping the Histology Equipment Market according to our research experts:
The Slide Staining Systems Segment is Expected to Account for the Largest Market Share
The slide staining systems segment is expected to account for the largest market share during the forecast period due to different technological advancements that offer better insights for diagnosing various bacterial, fungal, viral, and parasitic disorders and skin cancer. Slide staining frameworks are devices for improving basic staining strategies for 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 the growth of this segment is increasing automation. For instance, in March 2022, Crosscope Inc., a US-based provider of AI-enabled digital pathology software, and Mindpeak Gmbh announced a partnership to integrate MIndpeak's image analysis tools into Crosscope's Digital Pathology platform. With this partnership, Crossscope Inc. will be able to expand its portfolio of AI applications. With such partnerships, the segment is expected to witness strong growth in the coming years.
Moreover, factors such as the rising user preference for technology to reduce manual operations, increasing demand for diagnostic testing, and the rising burden of cancer and other chronic diseases, may drive the slide staining segment of the market. For instance, according to the WHO, in 2021, almost 71% of deaths occur due to chronic diseases,out of which 15 million people are aged between 30 and 69. 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 growth of the instrument segment.
Additionally, several developments across Canada fuels the market studied. For instance, in November 2021, Motic, a leading provider of digital pathology solutions announced that the MoticEasyScan product line of Whole Slide Scanners obtained a Health Canada Class II Medical Device License. With the certification of MoticEasyScan systems for clinical use in Canada, the country is now able to take advantage of innovative, high-value solutions that are affordable. The MoticEasyScan scanners and software will be allowed to scan, exchange, and use whole-slide images for primary diagnosis in Canada with approval from Health Canada. Hence, with the increasing development of histology equipment across the North American region, the market studied is expected to witness strong growth in the coming years.
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
the most 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 may dominate the market due to the presence of key players. According to the facts by the American Academy of Dermatology Association, in 2021, approximately 9,500 people in the United States were expected to be 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 critical processes, such as counting T-cells, which otherwise increases the time used by researchers, and increasing the 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.
