Histopathology Services Market to Grow at a CAGR of 5.7% to reach US$ 35,187.90 Million from 2021 to 2028

The histopathology services market is projected to reach US$ 35,187.90 million by 2028 from US$ 23,890.44 million in 2021; it is expected to grow at a CAGR of 5.7% from 2021 to 2028.

Histopathology services are used for the microscopic examination of biological tissues in disease diagnosis. With the help of imaging techniques, biopsy tissues can be obtained from certain inaccessible sites, such as pancreas and peritoneum. Factors such as rising demand for biologics and increasing prevalence of chronic diseases are driving the growth of the histopathology services market. However, limitations associated with histopathology and immunohistochemistry are expected to restrict the market growth to a certain extent during the forecast period.

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Histopathology Services Market: Strategic Insights

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Market Insights

Increasing Prevalence of Chronic Diseases

Chronic diseases such as cardiovascular disorders, neurological disorders, autoimmune disorders, and cancer are the leading cause of death and disability worldwide. As per the Centers for Disease Control and Prevention, in 2019, nearly 6 in 10 people suffered from at least one chronic disease in the US. As per the World Health Organization (WHO), CVDs are the number one cause of death globally, taking an estimated 17.9 million lives each year.

Cancer is one of the leading causes of mortality worldwide, which acts as a huge financial burden on society. According to the WHO, in 2018, ~9.6 million deaths occurred due to cancer globally. However, growing research on developing effective treatments for the disease is influencing the market growth. According to the National Health Profile, the cases of common cancers, including cervical, oral, and breast cancers, have increased by 324% in India from 2017 to 2018. Additionally, the total number of patients visiting Non-Communicable Diseases (NCD) clinics have doubled between 2017 and 2018, which is recorded to be 35 million and 66 million, respectively. Rapid change in lifestyle and consumption of alcohol and tobacco products are among the prominent factors increasing the incidences of cancer among the population.

Autoimmune diseases further contribute to a significant number of populations suffering with various type of diseases. For instance, according to the National Institutes of Health, ~23.5 million Americans suffer from autoimmune diseases, and an additional 8 million people have autoantibodies in blood molecules that indicate a person’s chance of developing autoimmune disease. The underlying cause of various autoimmune diseases is still unknown. Thus, researchers and therapists treating and exploring therapies for these diseases conduct detailed histopathological analysis to understand the mechanism of the diseases and design therapies and treatment for their management. Thus, the rising number of chronic diseases worldwide are expected to account for the growth of the histopathological services market during the forecast period.

Type of Examination -Based Insights

Based on type of examination, the histopathology services market is categorized into surgical specimen, breast biopsy, lung biopsy, renal biopsy, gastrointestinal biopsy, pancreatic biopsy, skin tissue biopsy, testicular biopsy, and others. In 2021, the surgical specimen segment held the largest share of the market and is expected to grow at the fastest rate during the forecast period.

End-User-Based Insights

Based on end-user, the histopathology services market has been segmented into diagnostic laboratories and reference laboratories, research institutes, and others. In 2021, the diagnostic laboratories and reference laboratories segment held the largest share of the market and is estimated to grow at a significant CAGR during the forecast period.

Various companies operating in the histopathology services market are adopting strategies such as product launches, mergers and acquisitions, collaborations, product innovations, and product portfolio expansions to expand their footprint worldwide, maintain brand name, and meet the growing demand from end users.

Histopathology Services Market Regional Insights

The regional trends and factors influencing the Histopathology Services Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Histopathology Services Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Histopathology Services Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Histopathology Services Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Histopathology Services Market are:

1. Sonic Healthcare Limited
2. Laboratory Corporation of America Holdings
3. Acculabs Diagnostics UK Ltd
4. TPL Path Labs
5. UNILABS

Disclaimer: The companies listed above are not ranked in any particular order.

 

Histopathology Services Market – by Type of Examination

• Surgical Specimen
• Breast Biopsy
• Lung Biopsy
• Renal Biopsy
• Gastrointestinal Biopsy
• Pancreatic Biopsy
• Skin Tissue Biopsy
• Testicular Biopsy
• Others

Histopathology Services Market – by End-User

• Diagnostic Laboratories & Reference Laboratories
• Research Institutes
• Others

Histopathology Services Market – by Geography

• North America

  • US
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Italy
  • UK
  • Spain
  • Rest of Europe

• Asia Pacific (APAC)

  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of Asia Pacific

• Middle East & Africa (MEA)

  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa

• South America (SAM)

  • Brazil
  • Argentina
  • Rest of South and Central America

Company Profiles

• Sonic Healthcare Limited
• Laboratory Corporation of America Holdings
• Acculabs Diagnostics UK Ltd
• TPL Path Labs
• UNILABS
• Cureline Global Translational CRO
• Targos
• Cellular Pathology Services,
• Experimental Pathology Laboratories Inc (EPL)
• CHARLES RIVER LABORATORIES, INC.