Press release
Reagents and Antibodies to Spearhead Growth of Histopathology Testing Equipment Market Through 2028
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.Click here to Get Complete Synopsis of the Report – https://www.factmr.com/report/2240/histopathology-testing-equipment-market
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.
“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
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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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The growth of histopathology testing equipment market is also influenced by macroeconomic aspects such as rising geriatric population. Increasing geriatric population is closely associated with chronic disorders and diseases, which is expected to push the demand for histopathology testing equipment worldwide.
Histopathology testing equipment sales are largely concentrated among diagnostic centers, followed by hospital based laboratories. Sales of histopathology testing equipment among diagnostic centers maintained a 1.4x lead over those in hospitals and the trend is expected to continue in the long run, according to Fact.MR.
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The outlook of the 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.
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