Worldwide Histology and Cytology Industry Report to 2029 - by Type, Product, End-use and Region - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Histology and Cytology Market Analysis by Type (Cytology, Histology), by Product (Consumable and Reagents, Instruments and Analysis Software System), by End Use (Clinical Diagnostics, Life Sciences), and by Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global histology and cytology market size is estimated to be USD 15.48 billion in 2020 and is expected to witness a CAGR of 14.28% during the forecast period.
Increasing cases of cancer globally is a key driver for the growth of the global histology and cytology market. Additionally, rising investment in R&D activities for technological development and growing awareness programs for cervical cancer screenings are some of the other drivers propelling the market growth. Nevertheless, the low sensitivity of cytology tests and conditions required for specimens and problem of mislabelled specimens are expected to restrain the global market growth.
Based on type, the market is categorized into cytology and histology. The cytology segment accounted for the major revenue in 2020 and is projected to maintain its dominance over the forecast period. The growth is due to factors such as this type is considered as the simplest and safest method for diagnosis of various diseases by analysing it at the cellular level worldwide. The histology segment is anticipated to grow at a lucrative CAGR during the forecast period, due to the increase in the number of investments by key pharmaceutical and biotechnology companies in the histology segment.
Based on product, the market is categorized into consumables and reagents, and instruments and analysis software systems. The instruments and analysis software system segment accounted for the major revenue in 2020 and is projected to maintain its dominance over the forecast period. The growth is due to the increasing application of histology instruments as they offer various benefits such as increasing productivity and reduces the risk of infection worldwide. The consumable and reagents segment is anticipated to grow at a lucrative CAGR during the forecast period, due to the increase in the number of new product launches in the consumable and reagents segment by major biotechnology and pharmaceutical companies.
Based on end-use, the market is categorized into clinical diagnostics and life sciences. The clinical diagnostics segment accounted for the highest revenue in 2020 and is projected to maintain its dominance over the forecast period. The rising funding by public and private organizations in various research & development activities is expected to stimulate business growth worldwide. The life sciences segment is anticipated to grow at a significant CAGR during the forecast period, due to adopting new flexible techniques for research studies owing to innovation and modernization in histology & cytology techniques.
In 2020, North America accounted for the largest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the growing consciousness about cancer and regular health screening, favourable reimbursement policies by the government, and accessibility of refined healthcare infrastructure in this region. Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to the rising incidences of viral diseases, growing geriatric population, socioeconomic conditions, and there are increasing cases of cancer in this region.
Some of the key players in the histology and cytology market Hologic, Inc. (U.S.); F. Hoffmann-La Roche Ltd. (Switzerland); Abbott Laboratories (U.S.); Becton, Dickinson & Company (U.S.); Danaher Corporation(U.S.); Merck KGaA (Germany); Thermo Fisher Scientific, Inc. (U.S.); Sysmex Corporation (Japan); Koninklijke Philips N.V. (Netherlands); and Spark Therapeutics, Inc. (U.S.). The leading players operating in the histology and cytology industry are adopting various strategies including R&D investments, adoption of advanced techniques, mergers & acquisitions, and regional expansions to capture a maximum revenue share.
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