According to a new report published by Allied Market Research, titled, Europe Histopathology Services Market by Type of Examination: Opportunity Analysis and Industry Forecast, 2017-2023," the Europe histopathology services market was valued at $5,583 million in 2016, and is expected to reach $8,766 million by 2023, growing at a CAGR of 6.6% from 2017 to 2023.
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Histopathology is a branch of pathology, which deals with the study of changes in tissue occurring due to a disease. In this procedure, suspected tissues (for a disease) are removed from a patient's body and examined in a laboratory to study manifestations of the disease.
Increase in prevalence of cancer & other chronic disorders, rapid growth in geriatric population in Europe, and rise in public awareness towards disease screening drive the growth of the Europe histopathology services market. However, limitations of histopathology, as the technique is subjected to human error during analysis and preparation of tissue slides, and dearth of pathologists & medical laboratory scientists in the UK are expected to impede the market growth. On the contrary, increase in demand for personalized medicine is expected to offer ample opportunities for market expansion during the forecast period.
The surgical specimen segment accounted for nearly half of the market share in 2016, and is expected to maintain its dominant position during the analysis period, owing to increase in number of surgical procedures across Europe.
Key Findings of the Europe Histopathology Services Market :
- The liver biopsy segment is expected to grow at a CAGR of 9.9% from 2017 to 2023.
- UK is expected to grow at the highest CAGR of 7.4%.
- Germany held a major share of 19.6% in 2016 in the European market, and is expected to retain its position throughout the forecast period.
- Gastrointestinal biopsy segment held a share of 11.6% in 2016.