Global Histology and Cytology Market to Top $39B By 2028

The global histology and cytology market is estimated to be valued at $16.25 billion in 2021 and is expected to exhibit a compound annual growth rate (CAGR) of 13.35 percent over the forecast period (2021-2028), as highlighted in a report published by Coherent Market Insights. 
 
Key players operating in the market are focusing on launching new products and receiving product approvals from regulatory authorities and this is expected to drive the market growth over the forecast period.

In September 2020, F. Hoffmann-La Roche Ltd, a Switzerland-based healthcare company, received the U.S. Food and Drug Administration (FDA) approval for use of CINtec PLUS Cytology for screening of cervical cancer in women who are positive for Human Papillomavirus (HPV). Moreover, in January 2021, OptraSCAN, a digital pathology solution provider headquartered in California introduced a digital cytology imaging solution that will help in quick scanning and analysing of cytology slides using their next-generation smart scanner—OS-SiA.
 
The COVID-19 outbreak was first reported on Dec. 31, 2019, in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, more than 193 million cases and 4.1 million deaths due to coronavirus (COVID-19) were reported through July 25, 2021, across the globe.
 
The COVID-19 pandemic has negatively affected several markets across the globe but is expected to fuel the demand and supply in global histology and cytology market, owing to need of histology and cytology diagnostic tools for studying the severity of COVID-19 infection during the COVID-19 outbreak.
 
For instance, according to an article published in the Elsevier Public Health Emergency Collection Journal in December 2020, various advancements have been made in the field of histology to enable proper diagnosis and prognosis of COVID-19 infection as well as establish its relationship with other comorbid conditions such as ovarian cancer, breast cancer, and others. Whole slide imaging using digital pathology solutions and smartphone microscopy are some of the digital advancements used during COVID-19 outbreak globally. 
 
Key players operating in the market are focusing on adoption of inorganic growth strategies such as mergers, collaborations, partnerships, and acquisitions, in order to expand their position in the global market. In September 2020, Cernostics, a U.S.-based diagnostic company, entered into a strategic collaboration with Deciphex, an Ireland based digital pathology solution provider to evaluate the potential use of artificial intelligence (AI)-based image analysis tool forearly detection of cancer by scanning the histology images of esophageal tissue from patients suffering from Barrett’s syndrome.
 
The global histology and cytology market is expected to exhibit a 13.35 percent CAGR over the forecast period, owing to rising launches and regulatory approvals of products. For instance, in April 2019, Hologic Inc. received European CE mark for its ThinPrep Genesis processor, which is used for automation of cytology slide and molecular test preparation thus reducing manual sample handling. Among examination type, cytology segment is expected to account for largest market share over the forecast period, owing to increasing product launches. In March 2018, Becton, Dickinson and Company launched its BD SurePath Direct to Slide, a liquid based cytology test used for detection of pre-cancerous lesions, cervical cancer, atypical cells, and others.
 
Key players operating in the global histology and cytology market include Abbott, Hologic Inc., Becton, Dickinson and Company, Southwest Precision Instruments LLC, F. Hoffmann-La Roche Ltd., Sysmex Corporation, Thermo Fisher Scientific Inc., Danaher, Life Technologies Corporation, Merck KGaA, Koninklijke Philips N.V., Perkin Elmer, and Trivitron Healthcare.