Histology Equipment Market Size is expected to grow from 2022-2028 due to the rising consumer awareness regarding several skin sicknesses worldwide. The growing prevalence of chronic diseases, such as cancer has steered the higher adoption of advanced diagnosis equipment. The higher incorporation of AI (artificial intelligence) technology to offer improved patient care and diagnostic accuracy will also add positive impetus to the market growth.
Histology equipment are tools that are used to assist in preparing and examining tissues. The rising preference for immunohistochemistry to treat irresistible sicknesses and higher need for histology equipment market frameworks will also favor product adoption. However, the presence of severe government regulations, higher costs of setting histology laboratories, and the lack of skilled professionals may pose a major challenge to the market expansion.
Based on products, the market size from slide staining systems will proliferate with the growing technological advancements and launch of new products. These systems provide consistency of techniques as they eliminate personal variation and maintain a consistent temperature in temperature-sensitive procedures. Apart from offering high output needs and preciseness throughout the process, slide staining solutions are increasingly utilized in research laboratories and institutes as they save maximum space and money. The surging obligation for limited manual operations has made way for the thriving need for automation. The growing prevalence of skin cancer, as well as other bacterial, fungal, viral, and parasitic disorders, will also play a key role in the market development.
With respect to end-user, the demand for histology equipment market in diagnostic centers will grow at a robust speed due to the rising instances of clinical autopsies in these facilities. The growing need for early diagnosis of infectious diseases has led to the higher adoption of histology equipment, like laboratory workflow, tissue embedders, microtomes, cryostats, and tissue processors. This is mainly due to their robust abilities to increase the quality and throughput with tissue protection, built-in quality, and reliability. The rising number of investments for the development of healthcare infrastructure is another factor influencing the segment growth.
Regionally, North America histology equipment market is slated to witness significant growth driven by the availability of well-established and advanced healthcare infrastructure. The escalating healthcare expenditure and growing patient awareness are other factors driving the market growth. The influx of various advanced technologies, including AI, along with the strong presence of some of the key market participants has steered the rise in number of R&D activities. The increasing burden of chronic diseases, mainly skin cancer in the U.S. will also complement the product penetration. According to the American Academy of Dermatology Association, approximately 9,500 people are estimated to be diagnosed with skin cancer per day in the U.S.
Biocare Medical, LLC., BioGenex, F. Hoffman-La-Roche, Leica Biosystems Nussloch GmbH, Merck KGaA, Sakura Finetek, Intelsint Srl, Ted Pella, Inc., Thermo Fisher Scientific, and Agilent Technologies Inc. are some of the major histology equipment manufacturers and suppliers.
Strategic marketing measures, including acquisitions, partnerships, along with new product launches are actively adopted by these companies for strengthening their market position while achieving competitive edges.
For instance, in October 2020, Sakura Finetek Europe introduced Tissue-Tek SmartConnect®, its latest automated transfer system that offers a continuous flow by connecting, processing as well as embedding in the histology lab.
Other than disrupting the global economy, the ongoing coronavirus pandemic hampered the operations as well as the revenue sales of several business verticals. The histology equipment market also felt the heat of the outbreak on account of the rising challenges and risks of laboratory handling on a histology specimen.
The thriving risk of the virus transmission also gave rise to hurdles in receiving fresh frozen section tissue samples. The plummeted adoption of slide staining systems and tissue processing systems considering the growing emphasis on COVID-19 diagnostic tests also negatively impacted the market outlook.
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