Pune, 25, Nov 2022: A new report from Maximize Market Research, titled Histopathology Services Market by Type of Examination, and Region: Regional Opportunity Analysis and Industry Forecast, 2021-2029,” forecasts that the market for these services will reach USD 41.2 million by 2029, growing at an 8 percent CAGR.
Histopathology Services Market Scope and Research Methodology
The histopathology services market report investigates current market trends and highlights in order to assist clients in exploring opportunities and developing market strategies. Key market participants and new entrants’ goods and services, revenue, financial status, portfolio, growth strategies, and regional presence are all investigated. Recent acquisitions and mergers, as well as company strategic stances and joint alliance information, provide a clear picture of the competitive landscape in the Histopathology Services Market. To comprehend the products and services of the Histopathology Services Market, a segment-by-segment analysis by Type of Examination and End-user is performed, complete with market-influencing factors and current technological changes and innovations. The report also discusses the Histopathology Services Market’s drivers, challenges, restraints, and challenges in great detail. Regional market analysis can be used by market participants and new entrants to develop pricing and marketing strategies at the local, regional, and global levels.
Bottom-up approaches were used for market estimation and global market trend analysis. To obtain accurate inferences, data was gathered from a large sample using both primary and secondary research methods. Surveys, questionnaire distribution, and phone interviews with industry experts, market leaders, entrepreneurs, and marketing professionals were among the primary methods employed. To ensure that the conclusions were correct, secondary data was meticulously gathered from a carefully selected set of sources. There are many resources available, including paid databases, industry journals, white papers, annual reports, product manufacturer and supplier releases, official databases of numerous organizations and government websites, and white papers and annual reports. To understand various market factors, PESTLE analysis was used, whereas SWOT analysis was used to understand the strengths and weaknesses of important companies. Due to this, the report looks closely at the market for histopathology services.
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Histopathology Services Market Overview
Histopathology services are used to diagnose diseases by examining biological tissues. As part of the procedure, tissues are examined under a microscope. Using imaging techniques, biopsies can now be obtained from previously inaccessible sites such as the pancreas and the peritoneum. Histopathology services market growth is being driven by rising biologics demand and the rising prevalence of chronic diseases. The limitations of histopathology and immunohistochemistry impede the growth of the histopathology services market.
Histopathology tests are performed in histopathology research centers or laboratories, where a pathologist identifies disease-related changes or variations from normal tissues. The alarming rise in the number of such fatal medical conditions is one of the major factors driving the global histopathology services market. Aside from an increase in the prevalence of such chronic conditions, an increase in health care expenditure, an increase in the geriatric population, and an increase in the use and effectiveness of biomarkers for disease diagnosis all contribute to the global histopathology services market’s growth. Furthermore, technological advances have resulted in more advanced pathology methods and services. This increases the market demand for histopathology services. Research and development for disease diagnosis and treatment are thriving, particularly in developed countries. As a result of government initiatives to raise awareness about new cutting-edge technologies, developing countries are also contributing to market demand. Diagnostic centers for histopathology services drive demand because they are inexpensive.
Histopathology Services Market Dynamics
Increased demand for the detection of cell and tissue characteristics, as well as an increase in the global prevalence of cell-based diseases such as cancer, are expected to drive the histopathology services market during the forecast period. The incorporation of digital solutions into histopathology diagnosis provides the advantage of the rapid interpretation of primary diagnostic data. Furthermore, businesses are introducing new and advanced digital histology systems to aid in the rapid on-site evaluation of histology samples.
The histopathology services market is expanding due to rising cancer prevalence, increased standardization of pathological laboratories, and technological advancements in diagnostic and molecular techniques. Because of lower disposable income and changing demographics, cancer’s growing social burden has been identified as a major threat to developing countries. Cancer has long been the leading cause of death worldwide, accounting for the lion’s share of fatalities.
Increased adoption of artificial intelligence-based digital tools by key consumers as a result of increased demand for workflow management is expected to drive the growth of the histopathology services market. Major players’ increased emphasis on patenting innovative technology in order to provide a customized platform for key digital pathology stakeholders gives them a competitive advantage in the histopathology services market. Furthermore, key market participants are now requesting IPS certifications for their patent registrations.
Histopathology Services Market Regional Insights
North America is expected to hold a significant market share in the histopathology services market, Due to the region’s growing geriatric population, rising cancer incidence, and increased awareness about cancer screening. The American Cancer Society, for example, predicts that more than 1.9 million new cancer cases will be diagnosed in the United States in 2022. Furthermore, in the United States, 80 percent of people diagnosed with cancer are 55 or older, with 57 percent being 65 or older. The high prevalence of cancer and the growing affected geriatric population contributes to the growth of the histopathology services market.
Histopathology Services Market Segmentation
By Type of Examination
- Surgical Specimen
- Breast Biopsy
- Lung Biopsy
- Renal Biopsy
- Gastrointestinal Biopsy
- Pancreatic Biopsy
- Skin Tissue Biopsy
- Testicular Biopsy
By End User
- Hospitals & Clinics
- Diagnostic Laboratories & Reference Laboratories
- Research Institutes
Histopathology Services Market Key Competitors:
- Hologic, Inc.
- Becton, Dickinson and Company
- F. Hoffmann-La Roche Ltd.
- Merck KGaA
- Thermo Fisher Scientific, Inc.
- Sysmex Corporation
- Trivitron Healthcare
- Koninklijke Philips N.V.
- Merck KGaA
- PerkinElmer Inc.
- Sonic Healthcare Limited
- Laboratory Corporation of America Holdings
- TPL Path Labs
- Cureline Global Translational CRO
- Experimental Pathology Laboratories Inc (EPL)
- CHARLES RIVER LABORATORIES, INC.
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Key questions answered in the Histopathology Services Market are:
- What is a Histopathology Service?
- What is the growth rate of the Histopathology Services Market for the next five years?
- What is the nature of competition in the Histopathology Services industry in developed economies and developing economies?
- Who are the key players in the Histopathology Services Market?
- Who are the market leaders in Histopathology Services in Europe?
- Who are the market leaders in Histopathology Services in USA and Canada?
- Who are the market leaders in Histopathology Services in India, China, Japan, and South Korea?
- What are the factors affecting growth in the Histopathology Services Market?
- Who held the largest market share in the Histopathology Services Market?
- What are the factors for the growth of the Asia-Pacific region in the Histopathology Services Market?
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Segment and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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