Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Histology and Cytology Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”
LOS ANGELES, May 12, 2021 (GLOBE NEWSWIRE) -- The Global Histology and Cytology Market is expected to grow at a CAGR of around 13.2% from 2020 to 2027 and reach the market value of over US$ 26.3 Bn by 2027.
Until the end of the forecast period, North America will hold the dominant market share of the global histology and cytology market. According to the National Cancer Institute, there were over 1,735,300 new cancer cases and approximately 609,600 cancer deaths in 2018. As a result, increased research activities in the region focusing on cancer diagnosis and treatment will support the growth of the North American histology and cytology industry. In the coming years,
Asia Pacific is expected to have the fastest growing CAGR. The presence of a large patient pool in the region suffering from various infectious diseases will benefit regional growth. In the coming years, regional business growth will be accelerated by rising demand for efficient sample testing, which will result in timely treatment and faster patient outcomes.
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Technological advancements in cell and tissue studies will have a positive impact on the growth of the histology and cytology industries. Continuous R&D efforts by industry players broaden the scope of its application in disease diagnosis. Furthermore, favorable reimbursement policies for cancer screening and laboratory testing will boost business revenue even further. However, the high cost of histology tests may limit the growth of the histology & cytology market in the coming years.
The global histology and cytology market is segmented based on type of examination, product, and application. By type of examination, the market is classified into histology and cytology. Histology is further segmented as microscopic technique, immunohistochemistry, molecular pathology, and cryostat & microtomy. Cytology is further segmented as Breast Cancer, Cervical Cancer, Bladder Cancer, Lung Cancer, and Other Cancers. By product, the market is bifurcated into instruments and analysis software system and consumable and reagents. Based on application, the market is segregated as drug discovery & designing, clinical diagnostics, and research.
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Cytology segment will pose lucrative opportunities for the global histology and cytology market
Cytology tests can be used to diagnose and screen for various cancers. The cytology segment has numerous applications in various cancer types. Companies prefer cytology-based diagnostic methods due to observations at the cellular level. Cytology is expected to play an important role in the coming decade, as companies focus on diagnosis at the molecular level. Histological tests are more expensive than cytology studies, owing to the multiple stages involved in their preparation, whereas cytology slides do not have such stages. As a result of the aforementioned factors, demand for cytological methods is expected to rise during the forecast period, with more companies investigating the method.
Some of the leading competitors are Hologic, Inc., Abbott Laboratories, Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd., Merck KGaA, Thermo Fisher Scientific, Inc., Danaher Corporation, Sysmex Corporation, Trivitron, Koninklijke Philips N.V., and among others.
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Some of the key observations regarding histology and cytology industry include:
In July 2020, Becton, Dickinson and Company, announced receiving approval for a pre-market approval (PMA) supplement from the U.S. Food and Drug Administration (FDA) for an expanded version of its BD Onclarity™ HPV Assay. The PMA supplement includes the expansion for genotype reporting beyond HPV genotypes 16, 18, and 45 to include types 31, 51, 52, 33/58, 35/39/68, and 56/59/66 genotypes making the BD Onclarity™ HPV Assay the only FDA-approved assay to individually identify and report these genotype results.
In February 2020, Thermo Fisher Scientific announced a collaboration with NanoPin. The collaboration enhances advance blood-based infectious disease detection technology through the development of highly sensitive liquid chromatography-mass spectrometry–based workflows. Through the detection of disease-related antigens directly from patient blood samples, NanoPin’s diagnostic platform using Thermo Fisher’s LC-MS technology will lead to the development of sensitive clinical assays for infectious disease, which aim to reduce time to results, determine infection stage, and monitor patient response to prescribed treatment.
In December 2020, Koninklijke Philips N.V. announced a partnership with Alverno for Digital Pathology to Enhance Diagnostic Efficiencies. a provider of high-quality diagnostic testing services, today announced that Alverno will fully implement digital pathology in its clinical laboratories. The laboratory network will use Philips IntelliSite Pathology Solution to assess and diagnose all clinical histology cases digitally, instead of using a microscope, with the aim of improving laboratory efficiency, quality, and patient safety.
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