The Histopathology Services Market Growth impelled by rising demand for biologics and increasing prevalence of chronic diseases; while surgical specimen segment to lead the market during 2021–2028.

New York, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Histopathology Services Market: Key Insights
According to our new research study on “Histopathology Services Market to 2028 – Global Analysis and Forecast – by Type of Examination, and End User,” the Histopathology Services Market is projected to reach US$ 9,195.36 million by 2028 from 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% during 2021–2028. Due to increasing demand histopathology services in healthcare environment created potential opportunities for the market. Further, increasing government support to advance the smart technologies in preliminary diagnosis has led to robust development of histopathology services. Additionally, technology has played crucial in minimizing the complication of the manual process and advanced the existing histopathology technologies. Other factors like increasing public investments in advancing the histopathology services have fuelled the growth of the market. On the other hand, limitations associated with histopathology and immunohistochemistry is expected to restrain the overall market growth to a certain extent during the forecast period.

Histopathology Services Market: Competition Landscape and Key Developments
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), and CHARLES RIVER LABORATORIES, INC. are among the key companies operating in the histopathology services market. Leading players focus on expanding as well as diversifying their market presence and acquiring new customer base, thereby tapping prevailing business opportunities.

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In May 2021, Discovery Life Sciences (Discovery), acquired Targos Molecular Pathology GmbH, Germany (Targos), to significantly expand its global tissue biomarker services. The addition of Targos immediately expands Discovery's capabilities on a global scale to support our customers' tissue biomarker programs for every stage of research.

In Mar 2020, Charles River Laboratories International, Inc. announced that it has entered into a partnership with Deciphex, a leader in preclinical digital pathology software-as-a-service. Through this agreement, in addition to Charles River being the exclusive contract research organization distributing the Patholytix Preclinical solution to clients, the organizations will work together to co-develop deep learning-enabled tools to support accelerated pathology analytics.

In November 2020, Cerner rolled out new communication capabilities across its online patient portal to save time spent by the staff on administrative tasks and boost consumer engagement.

In April 2021, Telemedicine Clinic (A Unilabs Company), in partnership with Alliance Medical and Doncaster Clinical Commissioning Group (CCG), has started providing reporting services for low dose CT scans as part of the UK NHS’s Targeted National Lung Health Check program.

In 2020, North America dominated the histopathology services market. The US is the major contributor to the market growth in the region; moreover, rising public health awareness, increasing strategic activities by governments, and presence of leading market players support the regional market growth. The growth of the market can be because of prevalence of various diseases, government support for biotechnology and increasing efforts in R&D activities as well as other activities undertaken by the market players operating in the market. In addition, technological advancements in the diagnosis industry is likely to stimulate the growth of histopathology services market in North America. On the other hand, large pool of population suffering with chronic diseases, rapidly developing healthcare infrastructure, and intellectual capabilities of scientists and researchers in the Asia Pacific is expected to account for the fastest growth of the region during the coming years.

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The histopathology services market, based on type of examination, is segmented into surgical specimen, breast biopsy, lung biopsy, renal biopsy, gastrointestinal biopsy, pancreatic biopsy, skin tissue biopsy, testicular biopsy, and others. The surgical specimen segment held ~48.51% of the market share in 2021. Based on end user, the histopathology services market has been segmented into diagnostic laboratories and reference laboratories, research institutes, and others; the diagnostic laboratories and reference laboratories segment held the largest market share in 2021, and the same segment is predicted to register the highest CAGR during 2021–2028.

Chronic diseases such as cardiovascular disorders, neurological disorders, autoimmune disorders, and cancer are the leading causes 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. Cardiovascular diseases (CVDs) are a significant cause of mortality owing to the hectic lifestyle. 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 among the leading causes of mortality worldwide, and the disease affects a huge population; therefore, it acts as a huge financial burden on society. According to the WHO, in 2018, ~9.6 million deaths occurred due to cancer globally. However, increasing research activities to develop effective treatments for the disease are positively affecting 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 is 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 and 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.

Histopathology Services Market: Segmental Overview
The surgical specimen segment is anticipated to register the highest CAGR in the histopathology services market, by type of examination, during the forecast period, as it is performed for all surgical resections provided for diagnosis by surgeons. It is removed during the surgical procedure on any organ or entire diseased part for the diagnosis of any suspected disease.

The diagnostic laboratories and reference laboratories segment accounted for more than 71.74% of the histopathology services market, based on end user, in 2021. Order a Copy of Histopathology Services Market Shares, Strategies and Forecasts 2021-2028 Research Report at https://www.theinsightpartners.com/buy/TIPRE00009649/

At present, COVID-19 has made a major impact on the healthcare industry. Since the outbreak reached the U.S. in January 2020, hospitals, pharmacies, and other facilities have had to address challenges at a magnitude that had never been seen before. Moreover, according to a recent survey by Medscape in April 2020, substantial disruption have been witnessed in routine cancer care that includes tests for screening and diagnosis in suspected cases to their treatment as a result of the COVID-19 pandemic. The rapid increase in the number of infected patients in the US and Canada is likely to hamper the growth of histopathology services market and result in slowing down the market growth in the near future

Currently, many countries are now undergoing lockdown relaxations, and most hospitals have resumed elective surgeries. As a result, the number of diagnostic tests conducted is now increasing. Owing to the factors mentioned above, the overall growth rate of the anatomic pathology market is less when compared to the previous year.

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