Increasing Demand for Rapid Diagnostic Test, Propelled The Tissue Microarray Market, to a Double Digit Growth

Pune, India, June, 2023/MRFR Press Release/- Market Research Future published a cooked research report on “Global Tissue Microarray Market Research Report - Forecast to 2030” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2030.

The tissue microarray market size is predicted to reach USD 21287.23 Million by the end of the year 2030 with a growth rate of 10.04% CAGR, during the forecast period (2020-2030).

The market of tissue microarray treatment is growing extensively. It is a practical and effective tool for high-throughput molecular analysis of tissues that is helping to identify new diagnostic and prognostic markers and targets in human cancers, and has a range of potential applications in basic research, prognostic oncology and drug discovery. The growing need of targeted treatments for various chronic diseases like cancer, genetic diseases, among others has boosted the growth of the market.

According to a recent study report published by the Market Research Future analysts, the global tissue microarray market is growing at a double digit growth rate; mainly due to the increasing application of tissue microarray in drug discovery and oncology, automated analysis of results and influence of technology are some of the major factors that fosters the growth of global tissue microarray market. Moreover, wide application of tissue microarray in pathology is another factor which is impelling the growth of tissue microarray market.

On the other hand tissue microarray may not be fruitful for heterogeneous cancers and the sample may not represent the entire tumour which may hamper the market growth. 

Global Tissue Microarray Market - Competitive Analysis

Abcam plc (U.K), Externautics (Italy), Asterand Bioscience (U.S), Auria Biopankki (Finland), US Biomax Inc. (U.S), Protein Biotechnologies Inc. (U.S), OriGene Technologies Inc (U.S), Novus Biologicals, LLC (U.S) and OriGene Technologies Inc.(U.S) are some of the prominent players at the forefront of competition in the global tissue microarray market and are profiled in MRFR Analysis. 

The market of tissue microarray consist of number of players that are involved in the development of the products as well as tests. The companies have involved actively in the development of the advanced products and also some have adopted the strategies of the mergers, acquisitions, and collaborations with other players in order to enhance their business.

In December 2016, Agilent Technologies announced the acquisition of Multiplicom N.V., a Leading European Diagnostics Company. On this acquisition Herman Verrelst, vice president said “The acquisition of Multiplicom significantly strengthens our presence in the genomics market.

Explore In-depth Details: Tissue Microarray Market Research Report

In November 2013, Agilent technologies launched the enhance version SureDesign software enabling clinical researchers to design customized CGH , ChIP-on-chip and DNA methylation microarrays for molecular cytogenomics applications and other applications.

In July 2016, Applied Microarrays announce a strategic partnership with SCIENION to deliver next generation medical devices. NGS could be used to provide comprehensive deep-sequence analysis of either genomic DNA to identify mutations, or RNA.

In November 2015, Abcam plc acquired AxioMx in order to maintain its leadership in the market. Abcam, a provider of monoclonal recombinant antibodies is a global life science company manufacturing antibodies, agonists, antagonists, activators, and inhibitors and proteins and peptides

In December 2009, Externautics signed an agreement with HansaBioMed for co-development of new tumor markers. Externautics is an oncology biomaker discovery company. The company works on two technologies namely Yomics library and tissue microarray.

Global Tissue Microarray Market -

Regional Analysis

The market is flourishing across the globe due to increasing prevalence of cancer and increasing application of tissue microarray in drug discovery. The American market for tissue microarray holds the largest share and it comprises of two regions namely North America and South America. According Centers for Disease Control and Prevention, each year more than 1.5 million cases of cancer are diagnosed, including about 15,000 cases among children younger than 20 years, and more than 590,000 deaths from cancer. Europe holds the second position in the market. Increasing emphasis on rapid diagnosis and treatment of cancer and infectious diseases, change in lifestyle, high prevalence of cancer among geriatric population drives this market in Europe. One of the major application of tissue microarray being the cancer diagnostics, the prevalence of the cancer in particular region has a lot to with the growth of this market. Asia Pacific region is one of the fastest growing market owing to the rapidly growing economies and increasing expenditure on the research & development.

According to WHO, cancer is a leading cause of death and accounted for 7.6 million deaths in 2008. Deaths from cancer worldwide are projected to continue to rise to over 13.1 million in 2030. Presently in India, it is a major cause of morbidity and mortality. Cancers are caused by risk factors such as tobacco use, alcohol use, unhealthy diet and physical inactivity, amongst others. These statistics are evident to highlight the problem of cancer in Asia Pacific, thus acting as an emerging market. The Middle East and Africa show steady growth in the tissue Microarray market. Lack of advanced medical facilities and less improvement in healthcare have somehow thwarted the growth of the market in this region.