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Global Tissue Diagnostics Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Product Type (Instruments and Consumables), Disease (Lung Cancer, Lymphoma, Pancreatic Cancer, Breast Cancer and Others), Application, End User & Region – Industry Forecast From 2023 to 2028

Published: March, 2023
ID: 4088
Pages: 170
Formats: report pdf report excel report power bi report ppt

Global Tissue Diagnostics Market Size (2023 to 2028)

The global tissue diagnostics market is estimated to be worth USD 5.83 billion by 2028 and USD 4.17 billion in 2023, growing at a CAGR of 6.90% during the forecast period.

MARKET DRIVERS:

The growing incidence or the prevalence of cancer, wide adoption of cancer diagnosis, and developing healthcare infrastructure for cancer diagnosis are majorly escalating the growth rate of the global tissue diagnostics market.

The growing focus of market participants on enhancing advanced tissue-diagnostic-based companion tests is favoring the market growth. In addition, the increasing cancer patient count and high adaption of automated tissue diagnostics to diagnose diseases are expected to boost the growth of the tissue diagnostics market. The growing prevalence of cancer, rising healthcare expenses, and increasing funds for research activities to develop cancer treatments are further estimated to contribute to the growth of the global tissue diagnostics market. For instance, in June 2020, the University of Sheffield, United Kingdom, collaborated with Zilico Ltd to design and manufacture real-time medical diagnostics to meet medical needs. Furthermore, increasing lifestyle changes, rising food and tobacco consumption, and alcohol and common lifestyle disorders are predicted to strengthen the market demand. The increasing number of government initiatives to increase awareness regarding efficient early cancer diagnosis propel the tissue diagnostics market growth.

The growing aging population is projected to support the global tissue diagnostics market growth.

By 2050, aged people 65 years and above will be two times the fold from 2019, as per the World Population Ageing report 2019. Moreover, 65% of cancer cases and 70% of cancer deaths are seen in older people 65 years and above. The improvement of advanced technologies, high discretionary expenses, and increasing genetic variations bolster the growth rate of the market. 

Additionally, factors such as increasing investments in research and development of new technologies, the emergence of efficient and accurate products, growing demand for personalized medicines, and untapped market potential due to the lack of efficient diagnostics tests for non-small lung cancer detection are expected to provide lucrative opportunities for the growth of tissue diagnostics market. Besides, healthcare centers' rising scale is likely to bolster the demand for the tissue diagnostics market.

MARKET RESTRAINTS:

The factors that restrain the growth of the global tissue diagnostics market are stringent regulations for the approval of new products and instruments that are highly expensive, lack of accessibility to healthcare indicators in underdeveloped countries, and social stigma associated with cancer. In addition, rural areas are less aware of the new technologies in the medical sector, which quietly hamper the market demand. 

Impact of COVID-19 on the global tissue diagnostics market:

The World Health Organization (WHO) declared the pandemic crisis on March 19, 2020. The burden on the healthcare system in several countries is increasing highly. The worldwide economies are witnessing a vastly negative COVID-19 impact. The healthcare market's research and development showcase a steep fall in sales during the lockdown due to the shutdown of the manufacturing units and scarcity of supply of raw materials, and lack of staffing. Tissue diagnostics are purposely used in patients with cancer. Patients with cancer are at high risk of acute coronavirus infection. A significant impact has had on diagnostic labs, particularly testing cell and tissue samples. Tissue diagnostics are widely used to identify the appearance of COVID-19 infection in the tissues of patients and exhibit significant traction over the market. The increasing regularity of COVID-19 infection cases with the absence of diagnostic kits to examine surges the demand for testing and screening devices. The examinations have influenced tissue diagnostics virology suppliers to supply recognized testing kits, creating growth opportunities for the tissue diagnostics market. 

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 to 2028

Base Year

2022

Forecast Period

2023 to 2028

Segments Covered

By Product Type, Disease, Application, End-User, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis; DROC; PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

F. Hoffmann-La Roche AG, Sigma-Aldrich Co. LLC, Abbott Laboratories, Agilent Technologies, BioGenex, Danaher Corporation, Cell Signaling Technology, and Ventana Medical Systems.

 

This report on the global tissue diagnostics market has been categorized into product type, application, disease, and end-user.

Tissue Diagnostics Market – By Product type:

  • Instruments
    • Microscope
    • Non-contact Handheld IR Thermometer
    • Haemocytometer
    • NMR Tube
    • Others
  • Consumables
    • Reagent kits
    • Others

The consumables segment is ruling the tissue diagnostics market based on product type. It has contributed a significant share of the market. It is expected to grow rapidly during the forecast period due to the extensive use of consumables and technology improvements, leading to novel and consumables development.

Tissue Diagnostics Market – By Disease:

  • Lung cancer
  • Lymphoma
  • Pancreatic cancer
  • Breast cancer
  • Others

Tissue Diagnostics Market – By Application:

  • Hematoxylin & Eosin
  • Immunohistochemistry
  • In Situ Hybridization

Based on the application, the immunohistochemistry segment is likely to contribute a significant share of revenues to the global tissue market over the estimated forecast period. This is due to the rise in the adoption of products developed based on this technology.

Tissue Diagnostics Market – By End-user:

  • Hospitals
  • Diagnostic laboratories
  • Research Organizations
  • Contract Research Organizations
  • Biotechnology Companies

Based on the end-user, the hospital's segment dominates the global tissue diagnostics market and is anticipated to expand further during the forecast period. The significant factors contributing to the growth of this segment are the rise in the number of hospitals, improved accessibility, and availability of test results in hospitals.

Tissue Diagnostics Market – By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

Geographically, North America leads the global tissue diagnostics market and is anticipated to grow further during the forecast period. Adopting the latest technology and introducing innovative diagnostics procedures in medical sectors magnify the market's growth rate. It is owing to the high incidence rate of cancer across regions. The market recorded the largest revenue share in 2020. It is further likely to register a robust CAGR during the forecast period. The united states accounted for the significant diagnostics market growth and anticipated contributions to the North American regional market growth. Availability of healthcare infrastructure, accessibility to healthcare facilities, and advancement of technology in the healthcare sectors influence the country's market growth. Simultaneously, the Y-O-Y rise in the prevalence of chronic diseases in the U.S. is further adding boss the growth rate of the regional market. In addition, the United States Precision Medicine Initiative is helping to develop the personalized medicine industry. On the other end, the Canadian market is witnessed to showcase healthy growth during the forecast period.

The European Tissue diagnostics market is growing significantly and is more likely to dominate the market with the largest revenue share during the forecast period. The use of human tissue in the production of new experiments is crucial in personalized medicine. Personalized medicine has dramatically grown as sequencing technology and healthcare IT programs have become more widely used in clinical workflows, expected to drive the Tissue Diagnostics market in the region. Germany, the UK, Spain, France, and Italy are the major growth contributors in the region that are expanding the regional market growth. The UK dominates the tissue diagnostics market during the forecast period due to the proliferation of cancer rates. However, government initiatives and favorable reimbursement policies are increasing market growth. Therefore, Germany and France are more likely to contribute to the European market growth in the coming years.

Asia Pacific market is likely to witness significant growth during the forecast period due to the increasing focus of government and private sectors in developing nations like China, Japan, India, and others. The Asia Pacific is considered one of the fastest-growing regions globally in the tissue diagnostics market. Emerging countries such as China, India, and Japan are significant growing countries in the APAC region. The market growth in the region is attributed to the growing healthcare sector and active key market players. The Indian market is anticipated to witness significant growth in the tissue diagnostics market during the forecast period. The factors, increasing healthcare expenditure, emerging infrastructure for cancer diagnosis, and support by the government are encouraging market growth in India.

KEY MARKET PARTICIPANTS:

Some of the noteworthy companies dominating the global tissue diagnostic market are F. Hoffmann-La Roche AG, Sigma-Aldrich Co. LLC, Abbott Laboratories, Agilent Technologies, BioGenex, Danaher Corporation, Cell Signaling Technology, and Ventana Medical Systems.

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FAQ's

How is the tissue diagnostics market growing?

The growing incidence of cancer, rising demand for personalized medicine, and the development of new diagnostic technologies are majorly driving the growth of the tissue diagnostics market.

How much is the tissue diagnostics market worth?

The global tissue diagnostics market is predicted to be valued at USD 5.83 billion by 2028.

What are some of the challenges facing the tissue diagnostics market?

High costs associated with diagnostic tests, regulatory hurdles, and the need for skilled healthcare professionals to conduct tests are some of the major challenges to the growth of the tissue diagnostics market.

Who are the major players in the tissue diagnostics market?

Roche, Danaher Corporation, Agilent Technologies, and Thermo Fisher Scientific are some of the major companies in the tissue diagnostics market.

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