The histology and cytology market comprises instruments such as slide staining systems, tissue processors, microtomes, and cryostats used for histology, cytology, and hematology applications in hospitals, research laboratories, and diagnostic centers. Histology is a branch of science that studies structure and composition of tissues under a microscope. Cytology examines and evaluates cells from body fluids, tissues, or aspirations under a microscope. Growing prevalence of chronic and infectious diseases and rising demand for diagnosis are fueling demand for these instruments in research and clinical laboratories. The Global histology and cytology Market is estimated to be valued at US$18528.42 Mn in 2024 and is expected to exhibit a CAGR of 14.% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the histology and cytology are Abbott, Hologic Inc., Becton, Dickinson and Company, Southwest Precision Instruments, LLC, F. Hoffmann-La Roche Ltd, Sysmex Corporation, Thermo Fisher Scientific Inc., Danaher, Life Technologies Corporation, Merck KGaA, Koninklijke Philips N.V., Perkin Elmer, and Trivitron Healthcare. Major players are focused on product approvals and launches to strengthen their market position. For instance, in January 2020, F. Hoffmann-La Roche Ltd received USFDA approval for its VENTANA PD-L1 (SP263) assay for non-small cell lung cancer.
The key opportunities in the market include rising prevalence of chronic diseases, increasing healthcare expenditure, and untapped potential in emerging countries. Technological advancements such as automation, digital pathology, and artificial intelligence are supporting high-volume sample processing in healthcare facilities.
Market drivers
One of the major drivers of this market is increasing cancer prevalence across the globe. Cancer is one of the leading causes of mortality worldwide. According to WHO, cancer burden is expected to grow to 27 million new cancer cases and 16.3 million cancer deaths by 2040. Increasing application of histology and cytology techniques in disease diagnosis and growing adoption of digital pathology are also fueling market growth.
Current Challenges in Histology and Cytology Market
The histology and cytology market faces numerous challenges. Limited healthcare budgets have restricted capital investments in diagnostic infrastructure and technology adoption. The market also lacks skilled professionals for tissue sample preparation, slide reading and reporting. Manual procedures are time consuming. A growing workload puts pressure on turnaround times. Advancing age related diseases are driving test volumes but reimbursement policies haven’t kept pace. High capital costs of new automated systems act as a barrier, especially in developing countries. Standardization of diagnostic criteria and procedures globally remains a work in progress.
SWOT Analysis
Strength: Growing incidence of cancer and other diseases drive volumes. Advances in pathology tools offer more insights. Weakness: Reliance on trained experts limits scalability. Manual methods are inefficient. Opportunity: Untapped potential in emerging markets. New scanning and imaging technologies make digitization feasible. Threats: Budging healthcare costs squeeze pathology lab budgets. Strict regulations around data security and storage apply.
The geographical region where the histology and cytology market is concentrated in terms of value currently is North America. This region accounts for over 40% revenue share owing to robust healthcare infrastructure, technological advancements, and better reimbursement scenario. However, Asia Pacific region is growing the fastest with China, India, Japan, South Korea and other developing countries witnessing rising incidence of chronic diseases and increasing healthcare investments from governments and private players. Growing medical tourism industry in Asia Pacific economies will further support the regional market demand in coming years.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
