Europe Histopathology Services Market is expected to reach $12,921.23 million by 2031 | CAGR of 6.5%

According to a new report published by Allied Market Research, titled, “Europe Histopathology Services Market by Type of Examination, and Region: Regional sOpportunity Analysis and Industry Forecast, 2022–2031,"the Europe histopathology services market was valued at $6,882.53 Million in 2021, and is expected to reach $12,921.23 Million by 2031, registering a CAGR of 6.5% from 2021 to 2031. 

Histopathology is the procedure of examining tissues to know more about various diseases and causes behind it. The tissues are observed under microscope in histopathology laboratory. This procedure involves to conduct biopsy. Histopathological services are extremely crucial as it enables histopathologists for detecting infection. Histopathology enables medical professionals to look for changes in cell which provide actual information of patient illness and the causes of disease. Histopathology services provide a diagnostic service for various types of cancer.

Surge in popularity of immune-histochemistry for visualization of cellular components to diagnose wide range of chronic diseases is one of the major factor, which boost the growth of the histopathology services market in Europe. In addition, the medical device sector has opened new approaches and collaborations in the industry to respond to the urgent needs of the pandemic. Furthermore, according to World Health Organization, the Globocan Data 2020, around 531,086 cases of breast cancer were estimated in Europe. Thus, rise in number of breast cancer cases surge the usage of breast biopsy which drives the growth of the Europe histopathology services market.

According to the International Diabetes Federation, in 2021, approximately 61 million adults between 20 and 79 years were estimated suffer with diabetes in Europe. The total number of people living with diabetes is projected to rise to 69 million by 2045. Thus, rise in burden of diabetes increases the demand for diagnostic tests and thus, surges the usage of histopathology services.

For instance, according to Globocan 2020, it was estimated that there were approximately 477,534 incidences of lung cancer and approximately 181,709 cases of rectum cancer in Europe. Thus, rise in number of patients with lung cancer and rectum cancer surge the usage of lung biopsy and renal biopsy which fuels the growth of the Europe histopathology services market.

In addition, in June 2020, NeoGenomics launched three liquid biopsy test for non-small cell lung cancer, all solid tumors and breast cancer tumors. These three tests are InVision First-Lung, NeoLAB Solid Tumor Liquid Biopsy, and Qiagen therascreen PIK3CA RGQ PCR, which helps physicians to deliver biomarker information from any patient with solid tumor. Liquid biopsy tests are used when there is not enough tissue for a tissue biopsy, such as in case of cancers like non-small cell lung cancer. These aforementioned factors increase the demand for histopathology services escalating the growth of the market.

Increase in government support for management of infectious diseases and surge in demand for effective prevention treatment are the major factors that drive the growth of the Europe histopathology services market. In addition, key players, such as HCA Laboratories UK, Acculabs Diagnostics UK Ltd., Sonic Healthcare Ltd, and Cellular Pathology Services Ltd provide the histopathology services. Thus, presence of large number of key players who provide histopathology services contribute toward the market growth.

However, high cost of acquisition and maintenance of histopathology services and shortage of skilled professionals to operate equipment are some key challenges that hinder the growth of the market. On the contrary, increase in number of diagnostic laboratories and surge in the demand for histopathology services create an opportunity for the key players to tap and capitalize their presence in the market.

The Europe histopathology services market is studied on the basis of type of examination and country. By type of examination, the surgical specimen segment dominated the market in 2021 and is anticipated to remain dominant during the forecast period. This is attributed to rise in number of surgical procedures. In addition, the liver biopsy segment is expected to register higher CAGR during the forecast period owing to rise in cases of liver cancer leading to surge the usage of liver biopsy. This is the vital factor that drives the growth of the market.

Key Findings Of The Study

• By type of examination, the surgical specimen segment was the highest contributor to the Europe Histopathology Services Market in 2021.
• Germany accounted for a majority of the histopathology services market share in 2021, and is anticipated to remain dominant during the forecast period.