According to FutureWise analysis the market for Histopathology Testing Equipment in 2023 is US$ 7.1 billion, and is expected to reach US$ 10.75 billion by 2031 at a CAGR of 5.32%.
Histopathology is the examination of diseases related to tissues. With the help of a microscope, the examination of tissues is done. It spots the characteristics of the disease. Histopathology testing equipment is widely utilized in medical laboratories for biological examinations. The rising cases of cancer and increasing prevalence of other chronic diseases are boosting the growth of the market.
Higher demand for advanced histopathology alongside rising cases of melanoma has accelerated the growth of the market. The demand for histopathological testing equipment has created new space for manufacturers.
The market is bifurcated on the basis of product type, by application, by the end user, and by region. The product is further divided into instruments and consumables. Instruments consist of tissue processor equipment, tissue embedding equipment, cover slipper systems, microscopes, microtome
cryostat, and others. The consumables segments consist of reagents
antibodies, probes, kits, others. The rising demands for reagents and antibodies are fueling the growth of the market. Kits and reagents are predicted to contribute to the growth of the market during the forecast. Rising demand for anatomic pathology services owing to huge usage of kits has accelerated the growth of the market. Kits are required in high number for sequencing and diagnosing of chronic diseases.
The application is segmented into drug discovery, disease diagnosis, research application. Disease diagnosis is contributing to the histopathology testing equipment. Research application is also witnessed to dominate the growth of the market in the coming years. In terms of end user, the market is segmented into hospital-based laboratories, diagnostic centres, and research organizations. Hospital-based laboratories are expected to control the growth of the market during the forecast period.
In terms of region, North America has emerged as the largest market. Presence of prominent alongside and developed healthcare infrastructure has fueled the growth of the market in the region. Asia-Pacific region is forecasted to achieve the highest growth. The rapid development of healthcare infrastructure alongside technological advancements has inflated the size of the market in the region.