Histopathology Testing Equipment Market

Histopathology Testing Equipment Market Outlook (2023 to 2033)

Global demand for histopathology testing equipment stands at US$ 7.1 billion in 2023 and is predicted to increase steadily at 5.1% CAGR over the next ten years. By 2033-end, the global histopathology testing equipment market is forecasted to reach US$ 11.7 billion in valuation.

Histopathology testing devices are tools that are used to prepare and analyze samples of tissues in medical and biology laboratories. Histopathology instruments are used for different applications such as research, disease diagnosis, and drug discovery.

The advent of various chronic diseases resulted in increased healthcare expenditure and research activity, which in turn is expected to benefit the sales of histopathology systems and histopathology consumables over the coming years. The surging use of histopathology testing devices in clinical autopsy procedures is expected to bolster sales of histology kits in the future.

High demand for accurate diagnosis of diseases, advancements in histopathology, increasing launches of novel histopathology machines and laboratory equipment, and growing prevalence of cancer are other factors that could augment histopathology testing equipment shipments throughout the forecast period.

Increasing establishment of new diagnostic centers and research centers is also expected to promulgate the demand for instruments used in histopathology labs and scientific equipment. The growing aging population around the world is also projected to contribute to histopathology testing equipment demand through 2033.

• In 2022, Agilent Technologies Inc., Thermo Fisher Scientific, Merck KGaA, Hoffman-la-Roche Ltd., and Leica Biosystems accounted for around 60% share of the global market share.

On the contrary, the dearth of skilled medical professionals to operate histopathology testing equipment is anticipated to be a major restraint for global market growth over the coming years. Established histopathology testing equipment providers are anticipated to maintain their dominance in the global marketplace and are expected to adopt unique strategies to preserve their lead in the industry.

A detailed account elaborating the effects of industry-changing aspects such as supply chain management, local supply, product standards, safety regulations, and other factors has been mentioned listed in this latest histopathology testing equipment market research survey by Fact.MR, a market research and competitive intelligence provider.

Report Attributes	Details
Histopathology Testing Equipment Market Size (2023)	US$ 7.1 Billion
Projected Market Value (2033F)	US$ 11.7 Billion
Global Market Growth Rate (2023 to 2033)	5.1% CAGR
Market Share of Top 5 Companies (2022)	~60%
Market Share of Consumables (2022)	>70%
Key Companies Profiled	Thermo Fisher Scientific; Danaher Corporation; Hoffman-la-Roche Ltd.; Leica Biosystems; Sakura Finetechnical Co. Ltd.; Agilent Technologies Inc.; Abcam; Advanced Cell Diagnostics Inc.; Cardinal Health Inc.; Merck KGaA; Abbott Laboratories

How Can Start-ups Penetrate the Histopathology Market?

“Use of Advanced Technologies – Prime Focus of New Companies”

Penetration of technology in the healthcare sector has increased noticeably in recent years and this trend is crucially sculpting the demand for novel histopathology testing equipment in the future. Incoming histopathology testing equipment vendors are expected to leverage the use of technologies such as artificial intelligence and machine learning to automate histopathology services and improve their share in the global landscape.

Most of the new histopathology testing equipment companies are focusing on raising new capital to fund their expansion and research efforts that allow them to compete with the established market players.

• In January 2023, Qritive, a healthcare AI company, announced that it had raised US$ 7.5 million in a funding round. SEEDS Capital, MassMutual Ventures, and Exfinity Venture Partners led the funding round. The company focuses on leveraging the use of artificial intelligence technology to improve histopathology diagnosis and enhance the overall quality of patient care,
• In December 2022, PictorLabs Inc., a digital pathology company founded in 2019, announced that it had raised US$ 15.2 million in a financing round that was led by Koç Holding, M Ventures, and SSC Soft Computer. The company aims to reinvent histopathology through its AI-powered virtual staining platform.
• In May 2022, Deciphex, an Irish start-up founded in 2017, announced that it had raised US$ 115 million in a Series B funding round led by Novartis, ACT Venture Capital, and other investors. The company had plans of using these new funds to expand its business and reach of Patholytix research platform in the United States, Canada, and the United Kingdom.

New histopathology machine manufacturers are expected to target developing economies where the healthcare infrastructure is still in its developmental phase. Supportive government initiatives to advance the quality of healthcare in developing countries are expected to provide lucrative business opportunities for incoming histopathology testing equipment providers in the future.

Country-wise Insights

Why Should Histopathology Instrument Suppliers Focus on the United States?

“Increasing Investments in Medical R&D”

The United States is known for its robust healthcare infrastructure and this is expected to be a key factor propelling the sales of equipment used in histopathology laboratories in the future. Surging investments in medical research and supportive government initiatives to promote the same are also anticipated to open up new avenues of opportunity for histology and cytology equipment companies in the United States through 2033.

High research activity in the country also promotes the demand for laboratory supplies and scientific equipment. Growing focus on improving patient outcomes, the high prevalence of chronic diseases, and increasing healthcare expenditure are other prospects that could benefit shipments of histopathology apparatus in the United States over the next ten years.

What Makes Japan an Investment-worthy Market for Histopathology Testing Equipment Manufacturers?

“Presence of Senescent Population and Rising Incidence of Immunological Disorders”

The healthcare industry in Japan has been significantly influenced by the increasing geriatric population of the nation which accounts for more than 30% of the total population of the country. Elderly people are more at risk of developing autoimmune disorders and this is expected to promote the demand for histopathology laboratory equipment in Japan going forward.

Increasing demand for novel diagnostic procedures, government initiatives to promote healthcare infrastructure development, and rising availability of advanced histopathology machines and services are other aspects that could benefit market development across the forecast period.

Why are Histopathology Testing Equipment Sales High in Europe?

“High Prevalence of Cancer and Rising Demand for Accurate Diagnostics”

Cases of cancer have increased noticeably in European countries over the past few years and this is projected to be a prime factor that is anticipated to bolster demand for histopathology instruments and machines in the future.

• As per the statistics listed on the European Commission website, cases of cancer in the European Union are estimated to increase by nearly 20% than what they were in the year 2020.

Growing demand for accurate diagnosis, increasing geriatric population, increasing investments in healthcare infrastructure development, and rising medical research activity are other factors that are anticipated to uplift sales of histopathology testing instruments in European countries through 2033. Germany, Italy, France, and the United Kingdom are projected to be prime markets throughout the forecast period.

Category-wise Insights

Which Products are Estimated to Witness Higher Demand?

“Consumables to Account for Commanding Market Share”

Based on product type, the histopathology testing equipment market is segmented into instruments and consumables.

Consumables are projected to lead global market revenue generation throughout the forecast period. Increasing investments in medical research are also predicted to contribute to high sales of histopathology consumables over the next ten years.

The disposable and single-use nature of several histopathology consumables is anticipated to be a prime factor that will allow them to capture a noteworthy share in the marketplace. The surging use of consumables such as reagents and kits in the diagnosis of chronic diseases is also expected to benefit growth in this segment going forward.

• In 2022, histopathology consumables accounted for more than 70% share of the global industry landscape.

Competitive Landscape:

Prime histopathology testing equipment manufacturers are focusing on launching new products that help them increase their sales potential and overall share in the global marketplace.

• In May 2022, a leading medical device company, Leica Biosystems, announced the launch of HistoCore PEGASUS Plus, which was a new compact dual-retort tissue processor to hone histopathology workflows. The new tissue processor was specifically launched to address the challenges faced by mid-volume laboratories in terms of processing quality.

Top histopathology testing system providers are also eyeing strategies such as mergers, acquisitions, collaborations, and partnerships to improve their presence in the global landscape and gain a competitive advantage over other market players.

• In December 2022, FUJIFILM Corporation, a leading Japanese multinational company, announced that it had entered into an asset purchase agreement to acquire Inspirata Inc., a digital pathology business. This acquisition strengthened FUJIFILM’s stance in the digital pathology business and allowed it access to Inspirata’s digital pathology technologies.

Histopathology Testing Equipment Industry Research Segments

• By Product Type :

  • Instruments
    • Tissue Processor Equipment
      • Automatic
      • Manual
    • Tissue Embedding Equipment
    • Slide Strainer Systems
      • High-throughput Strainers
      • Compact Strainers
    • Cover Slipper Systems
      • Fully Automated Cover Slipping Workstations
      • Flexible Cover Slipping Workstations
    • Microtomes & Cryostats
      • Rotatory/Manual Microtomes
      • Semi-Automatic Microtomes
      • Fully Automatic Microtomes
      • Manual Cryostats
      • Fully Automatic Cryostats
      • Semi-Automatic Cryostats
    • Microscopes
    • Other Instruments
  • Consumables
    • Reagents & Antibodies
    • Probes
    • Kits
    • Other Consumables

• By Application :

  • Drug Discovery
  • Disease Diagnosis
  • Research Applications

• By End User :

  • Hospital-based Laboratories
  • Diagnostic Centers
  • Research Organizations

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA