Histology Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

The histology equipment market is projected to register a CAGR of 4.7% during the forecast period.

The COVID-19 pandemic affected the histology equipment market by reducing the demand for slide staining system and tissue processing systems, as clinical testing providers had to reallocate assets and staff to focus on conducting COVID-19 diagnostic tests. Carrying tissue samples between pathologist homes and hospitals and providing access to a microscope and IT system at the pathologist's place were some of the logistics challenges. However, companies took definite measures to overcome such challenges. For instance, Roche digital pathology provided a complete solution, from slide scanning to full digital workflow and automated image analysis, so that chronic disease diagnoses are conducted without any delay. Thus, a profound impact is expected on the global histology equipment market due to COVID-19. However, post-pandemic, the market studied is performing at a regular pace, with the increasing use of histology equipment across the healthcare research industry.

Some of the major factors responsible for the growth of the histology equipment market include the rising burden of cancer and other chronic diseases, the high demand for advanced diagnosis equipment, and growing awareness on skin diseases. According to GLOBOCAN 2020 statistics, the total number of new cancer cases reached 19,292,789, while the total number of deaths due to cancer reached 9,958,133, worldwide. Furthermore, as per the International Agency for Research on Cancer (IARC) data, 1 in 5 people suffer from cancer during their lifetime, and 1 in 8 men and 1 in 11 women die from cancer.

Along with the increasing sophistication and innovative progressions in histology equipment frameworks, utilizing artificial intelligence (AI) for critical processes may drive industry development in the future. For instance, in February 2021, Solmedia Limited signed a UK exclusive partnership with SLEE medical GmbH that allowed Solmedia the UK exclusivity to the range of top-quality, high-precision pathological equipment.

Additionally, the coordination of artificial intelligence with histology equipment offers different benefits, including automated diagnosis and efficient image analysis. These factors are likely to drive the histology equipment market. The increase in the pervasiveness of immunohistochemistry for imaging cell sections to analyze a wide scope of illnesses, for example, malignancies and other irresistible sicknesses,adds to the development of the market for histology.

However, the high cost of setting histology laboratory, the lack of skilled professionals, and stringent government regulations are expected to restrain market growth over the forecast period.

Histology Equipment Market Trends

The Slide Staining Systems Segment is Expected to Account for the Largest Market Share

The slide staining systems segment is expected to account for the largest market share during the forecast period due to different technological advancements that offer better insights for diagnosing various bacterial, fungal, viral, and parasitic disorders and skin cancer. Slide staining frameworks are devices for improving basic staining strategies for microbiological diagnostics and exploration. Slide staining frameworks empower research laboratories and institutes to fulfill their high output needs and keep up with preciseness throughout the process. The key factor driving the growth of this segment is increasing automation. For instance, in March 2022, Crosscope Inc., a US-based provider of AI-enabled digital pathology software, and Mindpeak Gmbh announced a partnership to integrate MIndpeak’s image analysis tools into Crosscope’s Digital Pathology platform. With this partnership, Crossscope Inc. will be able to expand its portfolio of AI applications. With such partnerships, the segment is expected to witness strong growth in the coming years.

Moreover, factors such as the rising user preference for technology to reduce manual operations, increasing demand for diagnostic testing, and the rising burden of cancer and other chronic diseases, may drive the slide staining segment of the market. For instance, according to the WHO, in 2021, almost 71% of deaths occur due to chronic diseases,out of which 15 million people are aged between 30 and 69. Additionally, 2 in every 3 senior citizens suffer from chronic disease as per the first Longitudinal Ageing Study in India (LASI) published by the Union Ministry of Family and Health Welfare in January 2020. Furthermore, the increasing sophistication of histology equipment, the introduction of new products, and the rise in skin diseases may boost the growth of the instrument segment.

Additionally, several developments across Canada fuels the market studied. For instance, in November 2021, Motic, a leading provider of digital pathology solutions announced that the MoticEasyScan product line of Whole Slide Scanners obtained a Health Canada Class II Medical Device License. With the certification of MoticEasyScan systems for clinical use in Canada, the country is now able to take advantage of innovative, high-value solutions that are affordable. The MoticEasyScan scanners and software will be allowed to scan, exchange, and use whole-slide images for primary diagnosis in Canada with approval from Health Canada. Hence, with the increasing development of histology equipment across the North American region, the market studied is expected to witness strong growth in the coming years.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

North America is expected to gain the highest market share during the forecast period due to the rise in patient awareness about skin diseases, the presence of technologically developed healthcare infrastructure, and an increase in healthcare expenditure. The North American region is estimated to be a potential segment of the histology equipment market. It generates the most revenue from this region because of the higher health expenditure, high patient awareness levels, and a large number of cancer incidences, among other chronic diseases.

The United States may dominate the market due to the presence of key players. According to the facts by the American Academy of Dermatology Association, in 2021, approximately 9,500 people in the United States were expected to be diagnosed with skin cancer every day. This is expected to increase the demand for histology equipment in the United States. Moreover, integrating advanced technologies, such as AI, which can be used to carry out critical processes, such as counting T-cells, which otherwise increases the time used by researchers, and increasing the expenditure on R&D are the strategies used by the major players to sustain their position in the market. Thus, this region is expected to dominate the histology equipment market during the forecast period.

Histology Equipment Market Competitor Analysis

The histology equipment market is moderately competitive and consists of several major players. In terms of market share, a few major players are currently dominating the market. Some key players in the market are Leica Biosystems Nussloch GmbH, F Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Agilent Technologies Inc., Biogenex, Sakura Finetek, Intelsint, Biocare, Ted Pella, Inc., and Radical Scientific Equipments Pvt. Ltd.

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