Tissue Diagnostics Market To Predict Global Expansion, Owing To Increasing Incidence Of Cancer

 

Tissue Diagnostics Industry Overview

 

The global tissue diagnostics market size is anticipated to reach USD 6.6 billion by 2027, growing at a CAGR of 5.9% during the forecast period, according to a new report by Grand View Research, Inc. Accelerating demand for automated tissue diagnostic systems due to the lack of skilled pathologists has driven the market. The advent of advanced imaging techniques, such as autofluorescence, that minimize the need for invasive diagnostics further supplement market growth.

 

The digitalization of tissue diagnostic techniques has resulted in the improvement of workflows and better patient care. Ongoing strategic models taken-up by key companies to enhance the efficiency of diagnostics also drives the market. For instance, in December 2019, Philips collaborated with Paige to provide clinical-grade artificial intelligence-based solutions to pathology laboratories. This enhanced the speed and accuracy of cancer diagnostics in laboratories.

 

Tissue Diagnostics Market Segmentation

Grand View Research has segmented the global tissue diagnostics market on the basis of technology and product, application, end use, and region:

Based on the Technology & Product Insights, the market is segmented into Immunohistochemistry, In Situ Hybridization, Primary & Special Staining, Digital Pathology and Workflow, Anatomic Pathology.

• Immunohistochemistry(IHC) is widely applied in clinical research and development of cancer diagnostics and therapeutics, resulting in the largest revenue share in 2019.
• IHC is largely preferred over conventional enzyme staining techniques as it specifically provides variations between different types of tumors. Whereas, the conventional methods detect only a restricted number of tissue structures, enzymes, and proteins of tumors.
• Digital pathology is estimated to witness the fastest growth rate during the forecast period. An increase in the adoption rate of whole-slide imaging (WSI) among the pathologists, serves as one of the key factors driving the segment growth.

 

Based on the End-Use Insights, the market is segmented into Hospitals, Research Laboratories, Pharmaceutical Organizations, Contract Research Organizations (CROs).

• Hospitals dominated the end-use segment in 2019, in terms of revenue generation, due to the high consumption and utility rates of tissue diagnostic solutions by hospitals. The physicians are increasingly switching to tissue-based diagnostic testing techniques from conventional testing procedures.
• Hospitals are also undergoing agreement models for better disease diagnostics, thus propelling segment growth. For instance, in August 2019, the Taipei Veterans General Hospital (Taiwan) signed an agreement with Philips to install the IntelliSite Pathology Solution of the company in the hospital.
• Contract research organizations (CROs) are anticipated to witness lucrative growth. CROs provide research support, clinical trial services, manage trials, and functions of companies and healthcare providers, which face budget constraints. A rise in the number of clinical trials and extensive research studies in the field of cancer therapy has significantly driven the demand for services provided by CROs. 

 

Based on the Application Insights, the market is segmented into Breast Cancer, Non-small Cell Lung Cancer, Prostate Cancer, Gastric Cancer, Other Cancers.

• The breast cancer segment accounted for the largest share in terms of revenue in 2019 owing to high incidence rates of breast cancer globally, caused due to increase in inheritance and family history. Besides, several research initiatives coupled with the support of the government and private centers, further drive the development of effective products for the diagnosis of breast cancer.
• Remarkable progress in prostate cancer biomarker discovery due to advancements in genomic technologies has driven segment growth at a lucrative pace. The biomarker discovery has assisted the development of tissue diagnostic assays, thus providing opportunities for segment growth.

 

Tissue Diagnostics Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

The market for tissue diagnostics is considered to be fragmented due to the presence of several small, medium, and large participants in the marketspace. The advent of novel diagnostic models by key players to enhance their product portfolio has raised the competitiveness in the market for tissue diagnostics.

 

Some prominent players in the global tissue diagnostics market include

• Hoffmann-La Roche Ltd.
• Abbott Laboratories
• Thermo Fisher Scientific Inc.
• Siemens
• Danaher
• bioMérieux SA
• QIAGEN
• Becton
• Dickinson and Company
• Merck KGaA
• GE Healthcare
• BioGenex
• Cell Signaling Technology, Inc.
• Bio SB
• DiaGenic ASA
• Agilent Technologies.

 

Order a free sample PDF of the Tissue Diagnostics Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.