Demand For Histopathology Testing Equipment Market Is Projected To Expand At A Significant Rate Of Over 5.5 % In The Coming Years
Global sales of histopathology testing equipment surpassed US$ 5,300 Mn in 2017, with consumables leading the growth, according to the findings of a recently published study by Fact.MR.
Rising incidences of cancer and associated mortalities are driving the need for efficient tissue diagnosis. Moreover, growing inclination toward less-invasive diagnostic procedures for cancer and other malignancies drove growth of histopathology testing equipment.
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“The American Cancer Society and National Center for Health Statistics have revealed that cancer cases in Unite States crossed 1,685,000 in 2017 and are likely to increase in the coming years. Likewise, according to WHO (World Health Organization) report, emerging economies such as India are witnessing an increase in cancer mortality rates with India reflecting 79 per 100,000 deaths. This has pushed the demand for efficient diagnosis of the disease, which is expected to translate into an increase in histopathology testing equipment sales crossing US$ 5,500 Mn by end of 2018”. –Lead Analyst, Fact.MR Medical Diagnostics Division
Consumables are likely to account for nearly 80% revenue share of the market, according to the report. Demand for instruments in the histopathology testing equipment market is projected to expand at a relatively slow pace compared to consumables, making them a lucrative area for manufacturers from an investment standpoint.
Reagents and Antibodies to Spearhead Growth of Histopathology Testing Equipment Market
Sales of consumables in the histopathology testing equipment market are estimated to be on an upswing in 2018, says the report. The growth in sales of consumables is largely attributed to the increasing demand for reagents and antibodies. Increasing use of reagents and kits in genomics, sequencing and diagnosis of chronic diseases remains instrumental in driving their sales worldwide. Fact.MR envisages that demand for reagents and antibodies is projected to expand at a significant rate of over 5.5 % in the coming years.
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On this front, the report reveals that the demand for histopathology testing equipment across emerging economies in Asia Pacific such as China and India is projected to expand at a higher rate. According to United Nations, the number of aging population in India is expected to rise by 64 percent doing the 2015-2030 timeline, whereas China is likely to reflect a 71 percent increase in same time frame. This aspect continues to influence the use of histopathology testing equipment in a bid to reduce mortalities and facilitate health to the aged.
The demand for histopathology testing equipment for disease diagnosis applications is projected to expand at a stellar pace in the future. 2017 witnessed a positive spike in sales of histopathology testing equipment for disease diagnosis and the status quo is likely to continue in 2018 and ahead. Use of histopathology testing equipment in drug discovery is another field triggering the sales of histopathology testing equipment, in turn supporting growth of the overall histopathology testing equipment market, according to the report.
The outlook of the sales of histopathology testing equipment market is likely to remain positive in the future, with the market proceeding at a value CAGR of 4.8% throughout the 2018-2028 timeline.
Chapter 1 – Executive Summary
This chapter in the histopathology testing equipment market report includes overall histopathology testing equipment market overview, market analysis, analyst recommendations and wheel of fortune revealing opportunity assessment.
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Chapter 2 – Market Introduction
The histopathology testing equipment market introduction covers detailed segmentation of the histopathology testing equipment market along with market definition.
Chapter 3 – Histopathology Testing Equipment Market Opportunity Analysis
This chapter in the histopathology testing equipment market report includes assessment on various macroeconomic factors impacting growth in sales of histopathology testing equipment. It also covers detailed opportunity analysis.
Chapter 4 – Market Background
This extensive chapter in the histopathology testing equipment market report covers market dynamics including drivers, trends and restraints that are influencing the growth of the overall histopathology testing equipment market. These dynamics are assessed across key regions in the globe.
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