Europe Histopathology Services Market to Reach $8.77 Bn by 2023 at 6.6% CAGR, Says Allied Market Research
PORTLAND, Oregon, November 29, 2018 /PRNewswire/ --
Increase in prevalence of cancer & other chronic disorders, rapid surge in geriatric population, and rise in public awareness toward disease screening in Europe would facilitate the growth of the Europe construction products market.
Allied Market Research published a report, titled, Europe Histopathology Services Market by Type of Examination (Surgical Specimen, Gastrointestinal Biopsy, Breast Biopsy, Lung Biopsy, Biopsy of Gynecological Cancers, Renal Biopsy, Pancreatic Biopsy, Skin Tissue Biopsy, Liver Biopsy, Nerve Biopsy, and Testicular Biopsy): Opportunity Analysis and Industry Forecast, 2017-2023. The report offers extensive analyses of the top winning strategies, industry dynamics, key market segments, key investment pockets, and competitive intelligence. According to the report, the Europe histopathology services market generated $5.58 billion in 2017, and is expected to reach $8.77 billion by 2023, growing at a CAGR of 6.6% from 2017 to 2023.
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Increase in prevalence of cancer & other chronic disorders, rapid surge in geriatric population, and rise in public awareness towards disease screening in Europe drive the growth of the Europe histopathology services market. However, limitations of histopathology and dearth of pathologists & medical laboratory scientists in the UK would restrain the growth of the market. On the other hand, increase in demand for personalized medicine would create new opportunities in the market.
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Liver biopsy segment to register fastest growth through 2023
Among examination types, the surgical specimen segment held nearly half of the total market share in 2017 and would continue to dominate throughout the forecast period, owing to rise in incidence of diseases such as cancer. However, the liver biopsy segment would register the highest CAGR of 9.9% from 2017 to 2023, owing to rise in incidence of liver cancer in Europe. The study also includes the analysis of gastrointestinal biopsy, breast biopsy, lung biopsy, biopsy of gynecological cancers, renal biopsy, pancreatic biopsy, skin tissue biopsy, nerve biopsy, testicular biopsy, among others.
UK to be grow the fastest; Rest of Europe to accrue highest revenue through 2023
The histopathology services market in UK would grow at the fastest CAGR of 7.4% during the forecast period, as most of the healthcare procedures in UK are funded by one of the largest healthcare systems in the world, i.e., National Health Service (NHS). In addition, increase in the number of surgical procedures, growth of geriatric population, and changes in lifestyle of people leading to life-threatening disorders are expected to propel the growth of the UK histopathology services market. However, the rest of Europe accounted for nearly 40% of the total market share in 2017 and would continue to retain its lead position throughout the forecast period. This is because healthcare facilities in rest of Europe are provided by many different healthcare systems, which operate across the length and breadth of the country. These systems are mainly funded publicly with the help of taxes paid by the people. Moreover, rapid increase in geriatric population in Europe is another major driver for the growth of histopathology services market. The report also analyzes other regions such as Germany, France, Italy, and Spain.
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Industry Frontrunners
The key market players analyzed in the report include Acculabs Diagnostics UK Ltd., Cellular Pathology Services Limited, Great Ormond Street Hospital (GOSH) Laboratory, HCA Laboratories UK, Laboratoire Cerba, Sonic Healthcare Limited, Spire Healthcare Group Plc, Targos Molecular Pathology GmbH, TPL Path Labs, and Unilabs Group Services. These market players have adopted various strategies including collaborations, joint ventures, partnerships, expansions, and others to achieve a strong position in the industry.
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