Histology and cytology are medical diagnostic techniques used to examine tissues and cells under a microscope. Histology deals with the microscopic examination of tissues for diagnosis of diseases while cytology involves the examination of cells from various body sites like cervical smears, sputum for cancer screening and diagnosis. These techniques play a crucial role in cancer diagnosis and prognosis. With rising cancer burden worldwide, the need for accurate cancer diagnosis through histopathological and cytological examination is growing rapidly.
The global Histology and Cytology Market is estimated to be valued at US$ 25 Billion in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of cancer has been a major driver propelling the growth of the histology and cytology market over the years. According to the World Health Organization (WHO), cancer burden has risen to 19.3 million new cases and 10 million cancer deaths in 2020. This growing incidence of cancer cases has augmented the demand for cancer screening, diagnosis and subsequent treatment, thereby fueling the need for histopathological and cytological analysis. Further, technological advancements allowing automation and digitization of these techniques have increased efficiency, reduced turnaround time and improved diagnosis. This has boosted the uptake of histology and cytology tests worldwide.
SWOT Analysis
Strength: The histology and cytology market benefits from rising prevalence of cancer and infectious diseases globally. Diagnosis of chronic diseases relies heavily on histopathological examination procedures requiring histology and cytology consumables and instruments.
Weakness: High costs associated with installation, maintenance and operation of advanced histology and cytology infrastructure poses challenges in resource-constrained regions. Shortage of pathologists and histotechnologists hampers workflow.
Opportunity: Untapped growth opportunities exist in emerging Asian and Latin American countries. Adoption of digital pathology platforms and artificial intelligence integrated solutions provide avenues for innovation and automation.
Threats: Stringent regulatory approvals for new product launches delays commercialization. Unorganized local players offering low-cost alternatives pose pricing pressure on established brands.
Key Takeaways
The global histology and cytology market is expected to witness high growth over the forecast period from 2024 to 2031.
North America currently dominates the market due to presence of major players, sophisticated healthcare infrastructure and increasing cancer burden. The region is also projected to record the highest CAGR during the forecast period.
Europe continues to be the second largest histology and cytology market globally backed by supportive government initiatives for cancer screening programs. Rising healthcare expenditures and large patient pools undergoing diagnostic procedures will further propel the European market.
Key players operating in the histology and cytology market are F. Hoffmann-La Roche Ltd, Abbott Laboratories, Becton, Dickinson and Company, Danaher Corporation, Thermo Fisher Scientific, Inc., Merck KGaA, Agilent Technologies, Inc., Cardinal Health, Inc., and Sysmex Corporation. These companies compete based on product portfolio expansion, geographic reach and service offerings. Technology advancements integrating AI, digital pathology and automation are reshaping the industry landscape.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it