Market Research Future (MRFR) has published on the “Global Tissue Diagnostics Market”.
The tissue diagnostics market is estimated to register a CAGR of 13.50% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global tissue diagnostics market - Abbott Laboratories, BioGenex Laboratories, Agilent Technologies Inc., ILLUMINA Inc., Merck KGa, Danaher Corporation, F. Hoffmann-La Roche Ltd, Qiagen NV, and Thermo Fisher Scientific Inc.
Tissue Diagnostics Market Highlights
The global tissue diagnostics market is accounted to register a CAGR of 13.50% during the forecast period and is estimated to reach USD 14.8 billion by 2032.
The tissue diagnostics market is seeing strong demand and has the potential for significant growth in the near future due to the rising number of cancer patients worldwide. Tumors can now be diagnosed more quickly and accurately because of the growing use of automated tissue-based diagnostic tools by research institutes. For instance, West Clinic Center and F. Hoffmann-La Roche Ltd. teamed together in September 2019 to enhance patient care through the use of Roche's BenchMark ULTRA Automated Advanced Staining System. Additionally, the development of sophisticated tissue-diagnostic-based and companion diagnostic tests is anticipated to be a primary driving force in the global tissue diagnostics market throughout the forecast period, according to a growing number of leading market competitors.
Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Tissue Diagnostics Market Research Report
Segment Analysis
The global tissue diagnostics market has been segmented into product, technology, and application.
On the basis of product, the market is segmented into Instruments and Reagents & Consumables. The reagents & consumables segment was attributed to holding the largest market share in 2023, which is ascribed to a recurring requirement for consumables as well as research and expanded production for developing new reagents and consumables. For instance, on October 30, 2020, Sakura Finetek USA, Inc. announced a significantly expanded reagent and consumables catalog for the Tissue-Tek Genie Advanced Staining System. As a result, higher manufacturing due to the ongoing requirement for consumables in research is boosting market revenue growth.
Based on technology, the global tissue diagnostics market has been segmented into Immunohistochemistry, In-situ Hybridization, Digital Pathology and Workflow Management, and Other Technologies. The immunohistochemistry segment was expected to hold the largest market share in 2023. In the development of cancer diagnosis and treatments, immunohistochemistry (IHC) is widely used in clinical research. The higher sensitivity with which IHC can differentiate between different tumor types makes it a preferred method over more conventional enzyme staining techniques. On the other hand, tissue structures, enzymes, and proteins linked to malignancies can only be partially detected by traditional techniques.
Based on application, the global tissue diagnostics market has been segmented into Breast Cancer, Prostate Cancer, Gastric Cancer, and Other Cancers. The breast cancer segment was expected to hold the largest market share in 2023, ascribed to the rising incidence of breast cancer in women globally, which is brought on by genetic problems, an increase in inheritance, and family history.
Regional Analysis
The global tissue diagnostics market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe tissue diagnostics market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The tissue diagnostics market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World tissue diagnostics market comprises the Middle East, Africa, and Latin America.
The North American regional sector maintained the largest market share for tissue diagnostics due to the increased incidence of cancer cases, growing healthcare costs, sophisticated cancer diagnosis infrastructure, government cancer research projects, guidelines, and screening recommendations. In addition, players in this market can benefit greatly from the trend toward customized healthcare, the increased public awareness of early disease diagnosis, and the use of digital pathology and automation in tissue diagnostics.
Moreover, the Europe market has been persistently growing over the forecast period because of the region's strong presence of key manufacturers, its competent workforce and its advanced procedures. Additionally, a consistent increase in R&D spending to produce new and improved items is probably going to benefit the local market. Moreover, the rise in cancer instances and other illnesses will fuel the tissue diagnostics market's expansion.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. This region's growth has been aided by greater access to a range of tissue diagnostic tests provided by global enterprises, which in turn has expanded the tissue diagnostic market in this area. For instance, a deal for the marketing of the Immunoscore diagnostic studies in China was signed on April 19, 2019, between Genecast and HalioDx SAS. The availability of this product for Chinese cancer patients has expanded as a result of this program.
Furthermore, the rest of the world's tissue diagnostics market is divided into the Middle East, Africa, and Latin America. The rest of world region is experiencing considerable growth in the tissue diagnostics market as a result of increased public awareness of health issues and exposure to the most recent technologies available in the market. Furthermore, beneficial R&D initiatives and government financing for the creation and deployment of innovative diagnostics centers would contribute to regional growth.
Key Findings of the Study
- The global tissue diagnostics market is expected to reach USD 14.8 billion by 2032, at a CAGR of 13.50% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market. Greater accessibility to a variety of tissue diagnostic tests offered by multinational corporations has contributed to the expansion of this region and, therefore, boosted the tissue diagnostic market.
- Based on application, the breast cancer segment was attributed to holding the largest market in 2023, with an approximate market share of 40%.
- Abbott Laboratories, BioGenex Laboratories, Agilent Technologies Inc., ILLUMINA Inc., Merck KGa, Danaher Corporation, F. Hoffmann-La Roche Ltd, Qiagen NV, and Thermo Fisher Scientific Inc. are the key market players.
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Base Year | 2019 |
Companies Covered | 15 |
Pages | 128 |
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