July 16, 2024
Histology And Cytology Market

Histology And Cytology Market Is Driven By Growing Incidences Of Chronic Diseases

Histology and cytology techniques are widely used for the diagnosis and screening of various chronic diseases including cancer. Histopathology methods such as microtomy, processing and slide preparation help in the microscopic examination of tissues to analyse disease pathology at a cellular level. Similarly, cytology techniques aid in the examination of cells for diagnostic purposes. These techniques play a vital role in disease prognosis and further management and are used across various specialized fields such as gastroenterology, dermatology, pulmonary medicine and gynaecology amongst others. With growing global prevalence of chronic lifestyle diseases such as cancer, cardiovascular diseases and diabetes, the demand for histopathology and cytology services has significantly increased over the years. According to WHO, chronic diseases accounted for approximately 71% of global deaths in 2019.

The global Histology and Cytology Market is estimated to be valued at US$ 20882.22 Mn  in 2023 and is expected to exhibit a  CAGR of 10%  over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends

Development of advanced techniques – Researchers are continuously working on development and refinement of new staining techniques, immunohistochemistry assays, in situ hybridization techniques and molecular techniques which provide more accurate diagnosis and are less labor intensive. Advanced techniques such as digital pathology, 3D histology and liquid biopsy are gaining increased adoption. Automation of processes is another key trend to enhance productivity and reduce turnaround times. Adoption of such advanced techniques will fuel growth of the histology and cytology market during the forecast period.

Porter’s Analysis

Threat of new entrants: Moderate. Significant capital requirements and the need for specialized technology and expertise pose barriers to entry in this market.

Bargaining power of buyers: Moderate. The presence of several suppliers and differentiated products provides buyers with moderate negotiating power.

Bargaining power of suppliers: Moderate. The importance of inputs and dependence on key suppliers result in some supplier power. However, the threat of forward integration limits the exercise of power.

The threat of new substitutes: Low. There are limited product alternatives that can provide comparable diagnosis and testing effectiveness.

Competitive rivalry: High. The market comprises numerous global and regional providers engaging in intensive competition on product quality, features, and pricing.

Key Takeaways

The global Histology and Cytology Market Growth is expected to witness high growth over the forecast period. The global Histology and Cytology Market is estimated to be valued at US$ 20882.22 Mn in 2023 and is expected to exhibit a  CAGR of 10%  over the forecast period 2023 to 2030.

North America is currently the largest regional market for histology and cytology. The advanced healthcare infrastructure and large patient population undergoing various diagnostic procedures have contributed to market growth. Asia Pacific is expected to be the fastest-growing regional market during the forecast period owing to increasing healthcare expenditures, rising awareness regarding disease diagnosis, and growing number of hospitals and clinical diagnostic laboratories in countries such as China and India.

Key players – Key players operating in the Histology and Cytology Market are ABB, Xcel Energy Inc., EDF, National Grid Renewables, Acciona, Enel Spa, Innergex, The Tata Power Company Limited, General Electric, Invenergy.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it