Histopathology Testing Equipment Market Investigation Reveals Contribution by Major Companies during 2018-2028
The global histopathology testing equipment market study presents an all in all compilation of the historical, current and future outlook of the market as well as the factors responsible for such a growth. With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each histopathology testing equipment market player in a comprehensive way. Further, the histopathology testing equipment market report emphasizes the adoption pattern of the histopathology testing equipment across various industries.
The histopathology testing equipment market report highlights the following players:
- Thermo Fisher Scientific Inc.
- Danaher Corporation
- Agilent Technologies
- Merck KGaA
The histopathology testing equipment market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail.
Consumables are likely to account for nearly 80% revenue share of the market, according to the report. Demand for instruments in the histopathology testing equipment market is projected to expand at a relatively slow pace compared to consumables, making them a lucrative area for manufacturers from an investment standpoint.
Reagents and Antibodies to Spearhead Growth of Histopathology Testing Equipment Market
Sales of consumables in the histopathology testing equipment market are estimated to be on an upswing in 2018, says the report. The growth in sales of consumables is largely attributed to the increasing demand for reagents and antibodies. Increasing use of reagents and kits in genomics, sequencing and diagnosis of chronic diseases remains instrumental in driving their sales worldwide. Fact.MR envisages that demand for reagents and antibodies is projected to expand at a significant rate of over 5.5 % in the coming years.
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The growth of histopathology testing equipment market is also influenced by macroeconomic aspects such as rising geriatric population. Increasing geriatric population is closely associated with chronic disorders and diseases, which is expected to push the demand for histopathology testing equipment worldwide.
On this front, the report reveals that the demand for histopathology testing equipment across emerging economies in Asia Pacific such as China and India is projected to expand at a higher rate. According to United Nations, the number of aging population in India is expected to rise by 64 percent doing the 2015-2030 timeline, whereas China is likely to reflect a 71 percent increase in same time frame. This aspect continues to influence the use of histopathology testing equipment in a bid to reduce mortalities and facilitate health to the aged.
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The demand for histopathology testing equipment for disease diagnosis applications is projected to expand at a stellar pace in the future. 2017 witnessed a positive spike in sales of histopathology testing equipment for disease diagnosis and the status quo is likely to continue in 2018 and ahead. Use of histopathology testing equipment in drug discovery is another field triggering the sales of histopathology testing equipment, in turn supporting growth of the overall histopathology testing equipment market, according to the report.
Histopathology testing equipment sales are largely concentrated among diagnostic centers, followed by hospital based laboratories. Sales of histopathology testing equipment among diagnostic centers maintained a 1.4x lead over those in hospitals and the trend is expected to continue in the long run, according to Fact.MR.