What is the global market size of Tissue Diagnostics Market?

Tissue Diagnostics Market size was valued at USD 4.97 billion in 2021 and is poised to grow from USD 5.3 billion in 2022 to USD 9.42 billion by 2030, growing at a CAGR of 6.6% in the forecast period (2023-2030).

Who are the key vendors in the Global Tissue Diagnostics Market?

The global tissue diagnostics market is fairly competitive with the presence of few large players across the globe such as Abbott Laboratories, Danaher Corporation, Agilent Technologies. The companies are investing significant amount in the research & development sector to expand their product portfolio to consolidate their position in the market. In addition, partnerships, acquisitions, collaboration are few other strategies opting by several market players. 'F. Hoffmann-La Roche Ltd.', 'Danaher Corporation', 'Thermo Fisher Scientific Inc.', 'Agilent Technologies, Inc.', 'Abbott Laboratories', 'Merck KGaA', 'Becton, Dickinson and Company', 'Qiagen N.V.', 'Biogenex Laboratories, Inc.', 'Sakura Finetek USA, Inc.', 'Bio SB', 'Abcam plc', 'Cell Signaling Technology, Inc.', 'Bio-Rad Laboratories, Inc.', 'Enzo Biochem, Inc.', 'Leica Biosystems Nussloch GmbH', 'Siemens Healthcare GmbH', 'Ventana Medical Systems, Inc.', 'Agendia, Inc.', 'Myriad Genetics, Inc.'

What is the key driver of Global Tissue Diagnostics Market?

Rising prevalence of cancer at a high rate is a major driving factor of the market during the forecast period. The incidence of cancer is the highest in developed regions; however, cancer mortality is relatively higher in developing regions due to the various factors such as lack of access to advanced treatment facilities and the late detection of cancer in several patients. According to the WHO, approximately 70% of deaths due to cancer were reported in low-income and middle-income countries in the year 2020.

What is the key market trend for Global Tissue Diagnostics Market?

Shift in paradigm from conventional types of pathology method towards digital pathology is one of the major emerging trends likely to shape global tissue diagnostics market during the forecast period. Key companies such as Abbott Laboratories and F. Hoffmann are highly focusing on the development of diagnostic tests that aim to provide critical information. For example, FISH tests play a very important role in diagnosis of solid neoplasms and biomarker hematologic. Also, it is being implemented in the field of personalized medicine.

Which region accounted for the largest share in Global Tissue Diagnostics Market?

Globally, North America held the biggest market share in 2021, and is expected to maintain its dominance throughout the forecast period. Due to the good healthcare system, presence of qualified professionals, strong presence of major manufacturers, advanced procedures, and high adoption of Mi surgical systems in the region. Moreover, continuously increasing investment in the R&D to create new and more advance products is likely to have a positive impact on the market in the region. According to National Cancer Institutes, the number of cancer cases in the United States was around 17.2 million in 2021, and it is expected to reach 20.3 million by 2026.

Tissue Diagnostics Market Size, Share, Growth Analysis, By Product(Consumables, and Instruments), By Technology(Immunohistochemistry, In-situ Hybridization, Digital Pathology & Workflow Management, and Special Staining), By Disease Type(Breast Cancer, Gastric Cancer, Lymphoma, Prostate Cancer), By End User(Hospitals, Research Laboratories, Pharmaceutical Companies, Contract Research Organizations), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35H2161 | Region: Global | Published Date: September, 2024
Pages: 242 | Tables: 94 | Figures: 76

Tissue Diagnostics Market News

In May 2021, Discovery Life Sciences, a global biospecimen, and biomarker-specialists company has announced to acquire Targos Molecular Pathology GmbH, A Germany based molecular pathology laboratory. This acquisition is mainly aimed towards expansion of Discovery Life Science services, making it a global provider for biomarker development, and clinical trial support.
In May 2021, Roche Diagnostics, a sub-division of the Hoffmann-La Roche Ltd. Announced its partnership with Canadian Blood Services, a Canadian based non-profit organization to expand the study immune response to SARS-CoV-2.

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Tissue Diagnostics Market size was valued at USD 4.97 billion in 2022 and is poised to grow from USD 5.3 billion in 2023 to USD 9.42 billion by 2031, growing at a CAGR of 6.6% in the forecast period (2024-2031).

The global tissue diagnostics market is relatively saturated with the presence of very few big players across the globe such as Abbott Laboratories, Danaher Corporation, Agilent Technologies. A significant amount of money is being invested in the R&D sector by the companies to increase their product portfolio and consolidate themselves in the market. Apart from this, partnerships, acquisitions, and collaboration are some other strategies opted for by a lot of market players. 'F. Hoffmann-La Roche Ltd. (Switzerland) ', 'Danaher Corporation (US) ', 'PHC Holdings Corporation (Japan) ', 'Thermo Fisher Scientific Inc. (US) ', 'Abbott (US) ', 'Agilent Technologies, Inc. (US) ', 'Merck KGaA (Germany) ', 'Sakura Finetek Japan Co., Ltd. (Japan) ', 'Abcam Plc (UK) ', 'Becton, Dickinson and Company (US) ', 'Bio SB (US) ', 'BioGenex (US) ', 'Cell Signaling Technology, Inc. (US) ', 'Histo-Line Laboratories (Italy) ', 'Slee Medical GmbH (Germany) ', 'CellPath Ltd. (UK) ', 'Amos Scientific Pty Ltd. (Australia) ', 'Jinhua Yidi Medical Appliance Co., Ltd. (China) ', 'Medite Medical GmbH (Germany) ', 'Diapath S.p.A. (Italy)'

One major growth driver in the growth of the tissue diagnostics market is the increasing prevalence of chronic diseases, especially cancer. Despite the growing international rates of cancer, fast and accurate diagnostic solutions are vital as they offer a chance to undergo successful treatment if these diseases are diagnosed in their preliminary stages. Advances in tissue diagnostics technology include immunohistochemistry and molecular pathology. Given these advances, medical practitioners have determined the types of tumors and their subtypes. The various pressures being brought in to ascertain accurate diagnostic tools are forcing healthcare providers to invest in advanced tissue diagnostics technologies. This contributes to the growth of the market and improvement in cancer patients' care.

Transition Towards Customized Healthcare: Growing trend in tissue diagnostics toward personalized therapy, where the increasing demand for appropriate diagnostic tools to point toward the specific markers is witnessed with the focus by the medical professionals on tailoring the therapy for each patient according to their individual genetic makeup. This approach is very much dependent on tissue diagnostics, making detailed characterization of tumors and diseases feasible. The development in genetic profiling and molecular diagnostics is aiding the building of more customized therapies. In doing so, it improves the patient’s condition. It is giving impetus to innovation in tissue diagnostics technology as interested parties want to provide more personalized and efficient treatment alternatives.

The market share of North America is major due to the high incidence rate of cancer. Some public efforts are being made towards reducing cancer cases and consequently increasing demand for cancer diagnostics in the local market. The main cancer prevention and control research network by the Centers for Disease Control and Prevention is on cancer prevention in this region. Next, human tissue is an important area for new test development for personalized medicine. Personalized medicine has been greatly expanded by the increased utilization of the sequencing technologies and healthcare IT systems in clinical workflow, which have turned out to increase the utilization of tissue diagnostics. The United States' Precision Medicine Initiative adds to the continued expansion of the customized medicine sector in North America.

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What is the global market size of Tissue Diagnostics Market?

Who are the key vendors in the Tissue Diagnostics Market?

What is the key driver of Tissue Diagnostics Market?

What is the key market trend for Tissue Diagnostics Market?

Which region accounted for the largest share in Tissue Diagnostics Market?

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