The latest market report published by Credence Research, Inc. “Global Histology and Cytology Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global histology and cytology market is set to grow from US$ 8,928.1 Mn in 2017 to US$ 27,949.9 Mn by 2026 at a CAGR of 13.6% from 2018 to 2026.
Browse the full report Histology and Cytology Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at https://bit.ly/2J1EKYL
According to the research findings of International Agency for Research on Cancer (IARC), approximately 1 in 5 men and 1 in 6 women during their lifespan develop cancer. The current estimation of patients living with 5 year prevalence rate of cancer globally is 43.8 million. Scientist are of the opinion that early diagnosis is helpful in understanding the severity and disease manifestation of chronic aliment with better preventive care and early medical intervention resulting in low morbidity. Increasing public health awareness and sophistication of technology pertaining to early screening and diagnosis promote the histology and cytology market growth.
Cytology examination procedures are leading the examination segment for histology and cytology market. The major factors responsible for its outstanding growth are increasing demand for cell screening in cervical and breast cancer patients. Low cost, high sensitivity and adequate specificity associated with cytology examination procedure further fortify the market growth. Histology procedures are gaining tremendous traction owing to technological advancement in the diagnostic kits and strategic collaboration among key players for further commercialization and development of histology examination procedure in diagnosis of chronic ailment.
North America is presently holding 35% market share and is dominating the regional segment for histology and cytology market. Rising prevalence of cancer and increasing public health awareness together drive the market growth in North America region. Presence of major players such as Thermo Fisher Scientific, Inc., Hologic, Inc., Abbott Laboratories, Inc., etc. provide a positive push for the market growth in United States and Canada. In the second position is Europe representing 30% market share owing to significant increase in cancer diagnosis and supportive environment provided by European Medical Agency (EMA) for cytology and histology diagnostic kits. Asia Pacific is accountable for 16% share and will grow at a rapid pace on account of developing healthcare infrastructure and sophistication of technology pertaining to histology and cytology studies.
Biotechnology companies specializing in histology and cytology market are Abbott Laboratories, Inc., Thermo Fisher Scientific, Inc., Danaher Corporation, Becton Dickinson and Company, Sysmex Corporation, F.Hoffman-La Roche Ltd., Trivitron Healthcare, Hologic, Inc., Koninklijke Philips N.V. and Life Technologies Corporation.
Key Market Movements:
- Rising prevalence of cancer and other chronic ailment
- Technological advancement in cytology and histology examination kits and diagnostic procedures
- Increasing public health awareness resulting in early disease diagnosis