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Histology Equipment Market is poised to witness remarkable gains from 2023 to 2032 due to the rising prevalence of skin cancer and the ongoing innovations in cutting-edge treatment technologies.
According to the International Agency for Research on Cancer (IARC), the annual prevalence of cutaneous melanoma is projected to rise by more than 50% from 2020 to 2040. The growing burden of skin conditions worldwide has prompted extensive R&D efforts and the expansion of novel technologies, such as artificial intelligence (AI) and robotics, further driving the market landscape.
For instance, the Ozcan Research Group designed a new technology called Virtual Histology at the University of California, Los Angeles (UCLA) in 2022. The technology deploys next-generation AI and deep learning models to reflectance confocal microscopy (RCM) images for performing in vivo histology of the RCM images associated with basal cell carcinoma, and melanocytic nevi. Similar developments in the field of AI-enabled histology equipment will drive the histology equipment market progress.
However, the outbreak of the Russia-Ukraine war had a significant impact on the histology equipment industry as it resulted in substantial medical supply chain disruptions and the soaring costs of raw materials. Moreover, several countries imposed sanctions on Russia, cutting the supply of medical devices and equipment. Furthermore, the rising rate of inflation is introducing new challenges for the manufacturers of histology equipment.
Based on product, the histology equipment market is classified into instruments and consumables. Tissue embedding equipment, cover slipper systems, tissue processor equipment, microscopes, slide stainers systems, and microtome & cryostat are some of the commonly used histology instruments. The demand for slide staining systems is expected to increase notably through 2032 owing to their ability to maintain consistent temperature in temperature-sensitive conditions and eliminate personal variation.
In terms of end-user, diagnostic centers will hold significant share of the histology equipment industry by 2032. The surging number of clinical autopsies performed across diagnostic centers will fuel the progression for histology equipment. Additionally, the increasing incidences of infectious diseases and the growing emphasis on early diagnosis will further accelerate the adoption of tissue processors, tissue embedders, cryostats, and microtomes. The growing usage of histology equipment in diagnostic centers as they offer tissue protection, reliability, and built-in quality will further add to the market outlook.
North America histology equipment market size is poised to record substantial expansion between 2023 and 2032 led by the presence of the well-established healthcare infrastructure. The growing patient awareness regarding skin treatment and the rising healthcare expenditure are other factors driving the industry dynamics. Additionally, the promising integration of AI, machine learning, and other cutting-edge technologies have led to increased product adoption. Over the past few years, the prevalence of skin cancer in the U.S. has increased significantly, leading to the higher demand for histology equipment.
The competitive landscape of the global histology equipment market includes players, such as BioGenex, Biocare Medical, LLC., F. Hoffman-La-Roche, Merck KGaA, Leica Biosystems Nussloch GmbH, Sakura Finetek, Ted Pella, Inc., Intelsint Srl, Thermo Fisher Scientific, and Agilent Technologies Inc.