Histology is the microscopic examination of biological tissue samples for the purposes of disease diagnosis and medical research. Similarly, cytology involves screening cells for malignancy under the microscope. These techniques are gaining popularity due to their ability to quickly identify the presence and type of cancer based on cell and tissue characteristics. The global Histology and Cytology Market is estimated to be valued at US$ 17 billion in 2023 and is expected to exhibit a CAGR of 14.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The demand for histology and cytology is rising markedly owing to the increasing adoption of these techniques for early cancer detection. Several studies have shown that diagnosing cancer at an early stage significantly improves survival rates and therapeutic outcomes. For example, the five-year survival rate for breast cancer detected at stage I is over 90% as compared to 27% for stage IV cancer. Therefore, histology and cytology help detect cellular changes indicative of malignancy at a precancerous or early stage when treatment has high chances of success. This is a major factor propelling the histology and cytology market growth over the forecast period.
Segment Analysis
The global histology and cytology market is bifurcated into histology and cytology. The histology segment presently dominates the market. It held around 65% share of the overall market in 2020 owing to wide applications of histology in disease diagnostics and drug development. Histology aids in examining tissue structures and detecting abnormalities at cellular level, which makes it highly popular diagnostic technique among pathologists and clinicians.
Key Takeaways
The global histology and cytology market is expected to witness high growth during the forecast period of 2024 to 2031.
Regional analysis: North America presently captures over 40% share of the global market owing to advanced healthcare facilities and rising healthcare spending in the US and Canada. Asia Pacific is anticipated to grow at the fastest pace during the forecast period on back of growing medical tourism, increasing healthcare expenditure, rising incidences of chronic diseases and growing demand for advanced diagnostic techniques in emerging economies like India and China.
Key players: Key players operating in the histology and cytology market are F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Abbott Laboratories, Becton, Dickinson and Company, Merck KGaA, Danaher Corporation, Hologic Inc., Sysmex Corporation, Trivitron Healthcare. F. Hoffmann-La Roche Ltd holds the leading position with its wide product portfolio for immunohistochemistry, in situ hybridization and special staining. Thermo Fisher Scientific Inc. follows next due to its strong presence across various disease diagnostic segments including oncology, hematology, microbiology etc.
