Top 5 Players to Command Over 60% of Sales in Histopathology Testing Equipment Market
22 Oct 2021
AntibodyAcquisitionCollaborate
Histopathology Emerges as a Clinical Gold-Standard for Diagnosis of Chronic Diseases
Fact.MR’s latest report on histopathology testing equipment market offers detailed analysis of the growth drivers and restraints shaping growth prospects for the assessment period from 2018 to 2028. The study highlights various trend and opportunities affecting the demand across leading segments in terms of product type, application, end user and region.
Fact.MR – A Market Research and Competitive Intelligence Provider: As per the latest Fact.MR analysis, the global histopathology testing equipment market is forecast to exhibit impressive growth rate between 2021 and 2031. With growing demand for proper diagnostics, the sales of histopathology testing equipment are poised to rise substantially during the forecast period.
Increasing prevalence of chronic diseases, advancements in medical research and growing adoption of histopathology testing devices for diseases diagnosis, drug discovery, and medical research are driving the market.
Growing awareness among people regarding the benefits of early and timely diagnosis of diseases such as cancer and melanoma is bolstering the demand for histopathology testing equipment.
Gradual integration of artificial intelligence (AI) and machine learning in histopathology testing equipment is revolutionizing the market. Researchers are continuously focusing on developing innovative techniques to make diagnosis easier.
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For instance, AI is integrated in histopathology testing equipment to carry out critical processes such as counting T-cells. This extends the buffer time for researchers to conduct vital tasks. Such developments are expected to bode well for the market.
As per the report, consumables are expected to remain high in demand during the forecast period. The increasing adoption of kits, reagents and antibodies in genomics, sequencing, and the demand for accuracy in diagnosis of chronic diseases will create conducive environment for the growth of the market.
North America leads the histopathology testing equipment market. Growth in the region can be attributed to the increasing adoption of histopathology testing equipment in drug discovery and diagnostic applications. Moreover, increasing cases of cancer is expected support the market growth in North America.
“Integration of artificial intelligence (AI) and machine learning in histopathology testing equipment will revolutionize the diagnostic approaches in the near future. Key players are continuously launching automated products to make diagnostic processes more effective and quicker. These developments in the market will create opportunities for growth,” says the Fact.MR analyst.
Key Takeaways from Histopathology Testing Equipment Market Survey
With increasing adoption of latest diagnostic technologies and presence of well-established healthcare sector, North America will continue to dominate the histopathology testing equipment market during the assessment period.
Asia Pacific is witnessing strong growth on the back of rising cases of chronic diseases and increasing investments by governments for developing the medical infrastructure.
Based on application, disease diagnostics segment will continue to lead the market through 2031.
Top 5 players operating in the histopathology testing equipment market account for over half of the market share in 2021.
Key Drivers
Increasing prevalence of diseases such as cancer and melanoma facilitates the demand for histopathology testing equipment.
Rising demand for minimally invasive diagnostic procedures is positively impacting the histopathology testing equipment market.
Technological advancements in testing products will continue to expand the market further during the forecast period.
Growing scope of histopathology in drug discovery and research applications is projected to create high demand for histopathology testing equipment in the future.
Key Restraints
High cost associated with some histopathology testing equipment hampers the market growth.
Threat of product recalls also limits the growth of the market.
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Competitive Landscape
As per Fact.MR, top companies operating in the market are Thermo Fisher Scientific, Hoffman-la-Roche Ltd., Leica Biosystems, Agilent Technologies Inc., and Merck KGaA. These companies govern over 60% of the global market share.
Key players operating in the histopathology testing equipment market are focusing on expanding their product portfolio. They are continuously investing in research and development activities to launch innovative devices.
Bio-Techne entered into an agreement for the acquisition of Exosome Diagnostics. Through this, Bio-Techne aimed at strengthening its footprint in the histopathology market, particularly in the rapidly expanding field of minimally invasive diagnosis.
In 2018, Merck KGaA partnered with HistoCyte Laboratories Ltd. to facilitate sales of products for in situ hybridization and immunohistochemistry. This sales agreement empowered Merck to leverage its sales expertise to market HistoCyte’s pathology slide controls in the U.S.
Some of the leading players operating in the histopathology testing equipment market profiled by Fact.MR are:
Thermo Fisher Scientific
Hoffman-La-Roche Ltd.
Leica Biosystems.
Merck KG
Agilent Technologies, Inc
Cardinal Health, Inc.
Advanced Cell Diagnostics, Inc.
Abbot Laboratories
Abcam
others
More Insights on the Global Histopathology Testing Equipment Sales Outlook
Fact.MR provides an unbiased analysis of histopathology testing equipment market, presenting historical demand data (2013-2017) and forecast statistics for the period from 2018-2028. The study divulges compelling insights on the global demand for histopathology testing equipment with a detailed segmentation on the basis of:
Product Type
Instruments
Consumables
Application
Research Application
Drug Discovery
Disease Diagnosis
End User
Hospital based laboratories
Diagnostic Centers
Research Organizations
Region
North America
Latin America
Western Europe
Eastern Europe
APEJ
China
Japan
MEA
Key Questions Covered in the Histopathology Testing Equipment Market Outlook Report
The report offers insight into histopathology testing equipment demand outlook for 2018-2028
The market study also highlights projected sales growth for histopathology testing equipment market between 2018 and 2028
Histopathology testing equipment market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Histopathology testing equipment market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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