Histology & Cytology Market Growth to be Benefited by Technological Advancements
According to the report, the global histology & cytology market was valued at US$ 10.28 Bn in 2019 and is projected to expand at a CAGR of ~10% from 2020 to 2030. The global prevalence of cancer has been rising significantly, and the disease is considered the second major cause of death after cardiovascular diseases. Various factors contributing to the rise in the prevalence of cancer include urbanization, tobacco smoking, increasing pollution, changing diet patterns, and increase in the post-reproductive life span. According to the National Cancer Institute, over 1,806,590 new cases of cancer are anticipated to be diagnosed in the U.S. in 2020. Cervical cancer poses a significant threat to the female population in developing regions, and hence prevention as well as control of cervical cancer could be possible by early screening and diagnosis. Therefore, early detection of cervical cancer would improve the survival rate and quality of life of the patients, as it can be treated successfully with various treatment modalities. According to the World Health Organization (WHO), most of the cancer cases are detected in the final stage when they are not curable, especially in developing regions.
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Cytology to Dominate Global Market
In terms of type of examination, the global histology & cytology market has been bifurcated into histology and cytology. The cytology segment has been split into cervical cancer, breast cancer, oral cancer, and others. The cytology segment dominated the market in terms of revenue in 2019. Increase in cases of cancer and rise in demand for diagnosis of the disease boost the growth of the segment.
Instruments & Analysis Software System to be in Demand
Based on product, the global histology & cytology market has been categorized into instruments & analysis software system and consumables & reagents. The instruments & analysis software system dominated the global histology & cytology market in 2019. Rise in product launch for various technologically advanced devices fuels the growth of the segment. However, the consumables & reagents segment is anticipated to expand at the highest CAGR during the forecast period.
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Microscopy Methods to Lead Global Market
In terms of test type, the global histology & cytology market has been classified into microscopy methods, flow cytometry, and molecular genetic methods. The microscopy methods segment has been segregated into cytochemistry & histochemistry and immunohistochemistry & immunofluorescence. The molecular genetic methods segment has been split into cytogenic tests, polymerase chain reaction, and others. The microscopy methods segment dominated the global histology & cytology market in 2019. Over the years, the prevalence of cancer has risen rapidly across the globe. According to GLOBOCAN, in 2018, the prevalence of cancer was 43.8 million globally (9.6 million cancer deaths were registered in the same year).
Hospitals and Clinics to be Major End User
Based on end user, the global histology & cytology market has been divided into hospitals & clinics, academic & research institutes, and others. The hospitals & clinics segment dominated the market in terms of revenue in 2019. Hospitals & clinics are especially meant only for detection of diseases. The availability of sophisticated instruments and favorable reimbursement policies for various treatments drive the segment.
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North America to Dominate Global Market
The global histology & cytology market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2019, followed by Europe. North America accounted for a major share of the global histology & cytology market in 2019, owing to early adoption of advanced technologies and well-established healthcare infrastructure, and strategies adopted by key players. The histology & cytology market in Asia Pacific is likely to expand at a high CAGR from 2020 to 2030. Rise in prevalence of cancer across the region is projected to accelerate the growth of the market in the region.
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Becton, Dickinson and Company, Danaher, and F. Hoffmann-La Roche Ltd. are the three major companies operating in the global histology & cytology market. The global histology & cytology market is fragmented in terms of number of players. Key players in the global market include Abbott, Becton, Dickinson and Company, Danaher, F. Hoffmann-La Roche Ltd., Hologic, Inc., Merck KGaA, PerkinElmer, Inc., Sysmex Corporation, Thermo Fisher Scientific, Inc., and Trivitron Healthcare. New product development through robust R&D activities and merger & acquisitions are the key strategies adopted by these players to operate business in the global histology & cytology market.
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