The rapidly advancing diagnostics space has resulted in development of various companies involved in production of diagnostic equipment as well as distribution of testing apparatus and assemblies. The histopathology testing equipment market is no exception, wherein top five companies involved in the development of histopathology testing equipment account for a significant share of the overall market revenue. Top companies such as Thermo Fisher Scientific, Hoffman-la-Roche Ltd., Leica Biosystems, Agilent Technologies Inc., and Merck KGaA collectively account for a revenue share of over 62% in the†Histopathology Testing Equipment Market. Increasing awareness regarding cancer screening coupled with higher demand for advanced histopathology testing equipment from diagnostic centers are expected to provide potential avenues of growth for tier 1 manufacturers. These companies are more focused on new product launches, expansion of their current product lines.
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They are also involved in acquisitions to expand their current footprint in a bid to enhance their histopathology testing equipment sales channels in the diagnostic space. For instance, in 2017, Agilent Technologies Inc., acquired 100% of the stock of Multiplicom NV, a leading diagnostics company in Europe, in a bid to strengthen Agilentís presence in the histopathology testing equipment market place by leveraging Multiplicomís advanced diagnostic kits and testing technology.
Increasing Incidence of Melanoma Fuelling Use of Histopathology Testing Equipment
Increasing incidence of melanoma has been a cause of major concern among individuals. According to United Nations Environment Program, around 200,000 malignant melanoma cases occur every year. Skin Cancer Foundation has revealed that in the past decade (from 2008 till 2018), the number of melanoma cases have increased by about 53 percent annually worldwide.
The demand for histopathological analysis of melanoma has witnessed an increase in the last decade, owing to growing referrals from general practitioners and growing awareness among the general population. These factors have increased the importance of systematic and unified approach toward melanoma histopathology.
Anatomic Pathology Service Providers and Centers to Adopt Histopathological Testing Equipment
Increasing demand for anatomic pathology services on the back of a significant rise in the use of anatomic testing instruments and consumables such as kits is expected to influence the demand for histopathology testing equipment. Anatomic instruments are used to morphologically examine cells and tissues to diagnose chronic diseases at reasonable costs. Recently, anatomic diagnostic centers have been equipped with advanced equipment to carry out effective tissue processing based on histological assessment of samples (H&E preparation) of biopsies that can be carried out in less than 48 hours. This aspect has triggered the use of histopathology sample in turn triggering demand for histopathology testing equipment.
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Use of histopathology testing equipment in clinical autopsy has been influential in driving sales of histology instruments and kits. Clinical autopsy includes diagnosis of infectious diseases of different types including viruses, bacteria, helminths and protozoa. Majority of these are identified using histopathology using immunohistochemistry and stains that a vital part in clinical autopsy. Consequently, growing application in clinical autopsy is likely to impact sales of histopathology testing equipment across hospitals.
AI in Histopathology Testing Equipment Ė An Upcoming Trend
Technological advances in digitalization has not left any sector untouched and histopathology is no exception. The adoption of artificial intelligence (AI) has been witnessed in the histopathology testing equipment space. Artificial intelligence can be used to carry out critical processes in the histopathology testing equipment such as counting T-cells that increases the buffer time for researchers to carry out other vital tasks.
The adoption of artificial intelligence in histopathology testing equipment space can ensure efficient image analysis and automated diagnosis facilitating superior performance quotient. The proliferation of artificial intelligence in the histopathology testing equipment is likely to revolutionize the histopathology testing equipment market in the years to follow.
The report on histopathology testing equipment market includes assessment on key players involved in the manufacturing of histopathology testing equipment. Key aspects of histopathology testing equipment market players such as SWOT analysis, product portfolio analysis, innovations and developments, mergers and acquisitions, and key financials are included in the report. The histopathology testing equipment market report covers profiles of key players such as Thermo Fisher Scientific, Hoffman-La-Roche Ltd., and Leica Biosystems.
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Histopathology Testing Equipment Market Expectations & Growth Trends Highlighted by 2028
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