Rising cancer prevalence is projected to propel histology and cytology market expansion throughout the projected timeframe.
Newark, Sept. 03, 2024 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, the global histology and cytology market is expected to grow from USD 19.82 Billion in 2023 to USD 92.93 Billion by 2033, at a CAGR of 16.71% during the forecast period 2024-2033. The North America region dominated the global histology and cytology market and held 41.19% market share in 2023. This is because North America is growing tremendously in terms of the healthcare industry. In addition to this, the presence of key vendors in the region, further driving the growth of the market in the North America region. On the other side, the Asia Pacific region is anticipated to grow at the highest CAGR during the forecast period. This is mainly due to rising awareness related to cancer and increasing healthcare expenditure in countries such as China, Japan, South Korea, and India.
Market Introduction:
Histology and cytology are essential diagnostic methods used to examine cells and tissues under a microscope. The market includes various products like kits, reagents, stains, and dyes used in these diagnostic processes.
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Key Insights of Histology and Cytology Market
The exam type segment is divided into histology and cytology. The cytology segment further classified into cervical cancer, breast cancer, and other cancers. The cytology segment dominated the market, with a share of around 71.04% in 2023, owing to the rising prevalence of different type of cancers across the globe. The test type segment includes microscopy tests, molecular genetics tests, and flow cytometry. The molecular pathology segment dominated the market, with a share of around 43.20% in 2023. This test type has become increasingly available in clinical laboratories, and its application has moved forward in parallel with significant improvements in instrumentation and the availability of an array of monoclonal reagents. The application segment is divided into clinical diagnostics, drug discovery and designing and others. The drug discovery and designing segment dominated the market, with a share of around 51.18% in 2023. The end-user segment is divided into hospitals/clinics, biopharmaceutical companies, academia, and others. Hospitals/clinics accounted for a major market share of 41.3% in 2020, owing to higher purchasing power, presence of highly skilled healthcare professionals, and better health coverage for hospital-based healthcare services from various private and group insurance plans.
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Report Metrics Details
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 16.71% |
| 2023 Value Projection | USD 19.82 Billion |
| Market Size in 2033 | USD 92.93 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 236 |
| Segments Covered | Exam Type, Product, Test Type and Application |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
Drivers:
Key drivers include the rising prevalence of cancer, advancements in diagnostic techniques, and increasing awareness among healthcare professionals about the benefits of histology and cytology in early diagnosis.
Restraints:
Challenges include high costs associated with these diagnostic procedures and the requirement for skilled professionals to conduct and interpret the tests.
Opportunities:
Growing awareness and increasing healthcare infrastructure in emerging markets present significant opportunities for growth. Additionally, the development of new diagnostic technologies and personalized medicine could further expand the market.
Market Advancements:
The use of flow cytometry in clinical diagnostics is anticipated to grow significantly, offering more precise diagnostic capabilities.
Regional Segmentation Analysis:
North America dominated the market in 2023, largely due to its advanced healthcare infrastructure and high prevalence of cancer. The Asia-Pacific region is expected to grow at the highest rate due to rising healthcare expenditure and increasing awareness about early cancer diagnosis
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