Kenneth Research, in its repository of market research reports, have recently added a report on Global Histology and Cytology Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Global Histology and Cytology Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Histology and Cytology Market is valued approximately at USD 12.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 13.5% over the forecast period 2020-2026. Histology and cytology are the scientific medical specialty that is concerned with the diagnosis of diseases and other conditions. Histology is the study of the microscopic anatomy of cells and human tissues, including the structure and function. Whereas, cytology is a branch of life science that is emphasized with the study of human cells in terms of function, structure, and chemistry. The relevant tests are executed by placing the contaminated tissue or cell sample in an electron microscope or a light microscope that allows the scientists to examine the sample microscopic anatomy. Increase in prevalence of cancer, technological advancements in diagnostic and molecular techniques, rising standardization of pathological laboratories and favorable reimbursements for cancer screening and laboratory tests are the few factors responsible for high CAGR of the market over the forecast period. According to the International Agency for Research on Cancer (IARC), in 2018, there were around 17.0 million new cancer cases and 9.5 million cancer deaths registered throughout the world. Also, the global burden of cancer is expected to grow to almost 27.5 million new cancer cases and 16.3 million cancer deaths by 2040. This, in turn, is expected to accelerate the demand for Histology and Cytology, thus contributing to the growth of the global market. However, safety and diagnostic accuracy issues and lack of awareness among the public for diagnostic tests are the few factors expected to hamper the growth of the market over the forecast period of 2020-2026.
The regional analysis of global Histology and Cytology market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing cancer incidence rate, favorable government reimbursement policies, and the availability of sophisticated healthcare infrastructure in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026, due to growing geriatric population, rising cancer incidence and increase in awareness about cancer screening in the developing economies, such as India and China.
Major market player included in this report are:
F. Hoffmann-La Roche Ltd.
Becton, Dickinson & Company
Thermo Fisher Scientific, Inc.
Koninklijke Philips N.V.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type of Examination:
Instruments and Analysis Software System
Consumable and Reagents
Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Histology and Cytology Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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