Report : Asia Pacific Tissue Sectioning Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product [Instruments (Rotary Microtome, Ultramicrotome, Cryostat, Sliding Microtome, and Others), Accessories and Consumables, and Services], Technology (Automatic, Semiautomatic, and Manual), Application (Diagnosis, and Research), and End User (Hospitals, Clinics, Diagnostic Laboratories, Digital Path Labs, and Others)
The instruments segment by product is estimated to lead the market growth during the forecast period.
According to a new market research study of “Asia Pacific Tissue Sectioning Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, Technology, Application, End User and Country.” The Asia Pacific tissue sectioning market is expected to reach US$ 204.50 million by 2028 from US$ 125.29 million in 2021. It is estimated to grow at a CAGR of 6.6% from 2021 to 2028. The report highlights trends prevailing in the Asia Pacific tissue sectioning market and the factors driving market along with those that act as hindrances.
Investments in medical R&D activities are on the rise across the world. The US, Europe, and Indian governments are aggressively investing in research activities to stabilize the country's overall health profile. The government initiatives are creating lucrative opportunities for market players. According to the NITI Aayog, significant growth opportunities emerged in 2021 in the Indian diagnostics sector. Diagnostic and pathology centers are also expanding their offering to include various services in specialized areas. However, noticeable financial backers are building Hub-and-Spoke models, accordingly, merging the business.
Emerging markets in developing countries are offering attractive opportunities to key players for their business expansion, leading to substantial market growth over the next few years. In historical times, tissue sectioning was based on the gross dissection of the tissue sample. With its microwave processing, automation for cutting and staining, microscopy, and digitalization of slide images, modern histology emerged as a world away from primitive laboratories. Robotics in healthcare is an advanced and upcoming method of carrying out tissue sectioning. The comprehensive implementation of robots in tissue sectioning is expected to remove the errors produced in histopathological lab tests across all possible ways over the next few years. There are several ways that robots can increase the result accuracy while simultaneously reducing the cost of the services.
As the world has shifted toward automation, the healthcare sector is still working on automating its services. For instance, in November 2021, New York-based medical robotics company Clarapath netted US$16 million in funding rounds. The company plans to use the amount for developing its automated tissue sectioning device, SectionStar, and launch it into the non-clinical lab market. The device is claimed to be based on an AI-driven algorithm for interpreting human tissue. Clarapath's SectionStar consolidates numerous manual cutting, quality control, and decision-making way into one piece of outfit, performing in better grade tissue sections, rapidly processing edge, and lower overall costs, all while delivering affluent data sets on those tissue samples. The increasing adaptations of robots in developed nations are imminent in the Asia Pacific tissue sectioning market.
Countries in Asia Pacific are facing severe challenges due to increasing incidences of COVID-19. The COVID-19 pandemic has affected the healthcare system in these countries, resulting in a 50% to 70% drop in revenue from March. However, unlike other industries, the pathology and diagnostic industry experienced a massive boom in terms of growth and revenue.
The tissue sectioning market has observed a slightly positive impact of COVID-19 with the rising number of cases and research related to the diagnosis of COVID-19. For instance, in July 2020, a study was published in the Journal of Translation Medicine on the detection of SARS-CoV-2 in formalin-fixed paraffin-embedded tissue sections using commercially available reagents. In this research, a total of eight autopsy lungs, one placenta, and ten kidney biopsies from COVID-19 patients and non-COVID-19 patients were stained with a panel of commercially available antibodies.
As the COVID-19 vaccination drive ran in many Asia Pacific countries, India is proved to run the most effective and fastest drive. For instance, India's vaccination drive was launched on 16th January. Within ten months, it breached the 100 crore inoculation mark, an achievement for the country's healthcare system. There has been an increase in demand for diagnostic tests and research to get the vaccination outcome in this region. The instance mentioned above clearly indicates the upsurge in the tissue sectioning market for various research purposes.
Based on the product, the Asia Pacific tissue sectioning market is segmented into instruments, accessories & consumables, and services. The instruments segment is further sub-segmented into rotary microtome, ultramicrotome, cryostat, sliding microtome, and others. Based on the technology, the Asia Pacific tissue sectioning market is segmented into automatic, semiautomatic, and manual. Based on application, the North America tissue sectioning market is segmented into diagnosis and research. The Asia Pacific tissue sectioning market is segmented into hospitals, clinics, diagnostic laboratories, digital path labs, and others based on the end user. Geographically, the Asia Pacific tissue sectioning market is sub-segmented into India, Japan, China, South Korea and Rest of Asia Pacific.
THERMO FISHER SCIENTIFIC, INC., Leica Biosystems Nussloch GmbH (Danaher), Diapath S.p.A, Abcam Plc, Amos Scientific Pty Ltd, SAKURA FINETEK EUROPE B.V and MEDITE Medical GmbH are among the leading companies operating in the Asia Pacific tissue sectioning market.
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