Histology and Cytology Market to Expand with Significant CAGR by 2020
With the aid of histology and cytology, a number of infectious diseases can be identified such as cancer, cervical disease, abnormal growth, inflammatory diseases, hepatitis, diarrhea, leukemia, smallpox, rabies etc. Molecular techniques are carried out to detect specific proteins, receptors, viruses and enzymes in tissues, which will help in the detection as well as in the treatment of the detected diseases.
Major driving factors for the growth of histology and cytology market are increasing standardization of pathology laboratories, increasing adoption new technological tests, the minutest details about the cell or tissue gets detected, rising prevalence of diseases amongst the aging population. Due to the study of cell and tissue sample, healthcare cost burden is reduced which is the outcome of early diagnosis of chronic diseases. All these factors have augmented the growth of the histology and cytology market.
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Geographically, North America holds a leading position in the histology and cytology market followed by the European market. The factor responsible for the growth of histology and cytology market is increasing cancer incidence rates in these regions. According to American Cancer Society, in the year 2014, there will be an estimated 1,665,540 new cancer cases diagnosed and 585,720 cancer deaths in the US. 1 of every 4 deaths in the US is primarily because of cancer. With the introduction of these tissue sample tests, there is a huge scope for this market to excel in the future by more technological advancement. Asia-Pacific is growing at a very rapid pace and is considered to be as one of the most developing regions across geographies.
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The histology and cytology market will benefit the Asia-Pacific region to a great extent. The prime factors driving the growth of this market are huge population density in countries like India and China which make them vulnerable to various infectious diseases, efficient testing of samples can result in cost saving and faster outcomes to patients and increasing awareness of individuals about their health. The diagnosis will help the patients to detect the type of cancer, the cell of origin and their extent of spread which will in turn drive the market growth.
Some of the key market players operating in the histology and cytology market are Becton Dickinson and Company, F. Hoffmann-La Roche Ltd., Abbott Laboratories, Hologic, Inc., Life Technologies Corporation, Trivitron Healthcare, Sysmex Corporation, Thermo Fisher Scientific, Danaher Corporation, and many others.
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