Publishing: July 2021 | Report Code: LS10307 | Available Format: PDF
Tissue Diagnostics Market Overview
The key factors behind the robust growth of the global tissue diagnostics market size are the increasing number of people with cancer and awareness on the disease, advancements in technology, rising number of diagnostic tests being conducted, increasing investments by pharmaceutical companies, growing geriatric population, and surging healthcare expenditure.
Consumables and instruments are the two major products used for the process, of which consumables witness the wider adoption. The reason for their larger tissue diagnostics market share are the increase in efforts to develop novel consumables as well as their wide adoption at medical settings. Tissue diagnostics can be done based on various technologies, including in situ hybridization, digital pathology and workflow management, special staining, and immunohistochemistry (IHC). Among these, IHC leads the market, owing to its ability to differentiate between a vast array of cancers, unlike other technologies, which have a limited scope, in terms of tissue, protein, and enzyme differentiation.
The tissue diagnostics is most significantly used for lymphoma, non-small-cell carcinoma, prostate cancer, breast cancer, and gastric cancer. Among these, breast cancer dominates the tissue diagnostics market, owing to the rapidly increasing prevalence of this oncological condition in developing as well as developed countries. According to the World Health Organization, 2.1 million develop breast cancer each year, and 627,000 died of it, in 2018. Further, the growing awareness on this disease and advancements in technology, aimed at making breast cancer management better and more effective, are also driving this progress.
The tissue diagnostics market is presently led by North America, as a result of the increasing geriatric population and cancer prevalence, high awareness on the issue, easy patient access to diagnosis centers and laboratories, advanced technologies for diagnosis, heavy investments in research and development, and government support. In the coming years, Asia-Pacific (APAC) is predicted to grow the most rapidly in the industry, due to the growing patient pool, spending power of patients on expensive tests, government initiatives, and focus of industry players on the region, and bettering healthcare infrastructure.
Tissue Diagnostics Market Dynamics
The growing prevalence of cancer is the most important reason behind the tissue diagnostics market growth across the world. According to the latest cancer data, jointly published by the World Health Organization and International Agency for Research on Cancer (IARC), cancer was found in 18.1 million people in 2018; additionally, the disease claimed 9.6 million human lives that year. The report also mentions that one in 11 women and one in eight men die of the disease every year. With a rise in the prevalence of the disease, the demand for timely diagnosis is increasing, thereby driving the market.
Yet another important tissue diagnostics market driver is the increasing geriatric population. As per the World Population Ageing 2019 report by the United Nations, by 2050, people over 65 years of age are going to almost double from 2019, ultimately numbering 1.5 billion. With age, people’s normal biological processes malfunction, which results in several life-threatening diseases, including cardiovascular diseases, cancer, and diabetes. Estimates suggest that 87% of all cases of these three diseases are recorded in the elderly. Further, 65% of cancer cases and 70% of cancer deaths are witnessed among those older than 65 years.
Tissue Diagnostics Market Competitive Landscape
Owing to the presence of globally operating pharma giants, such as Sigma Aldrich Corporation, Hoffmann-La Roche AG, Biogenex Laboratories, Abbott Laboratories Inc., Cell Signalling Technology Inc., BioSB, Danaher Corporation, Thermo Fisher Scientific Inc., GE Healthcare, Agilent Technologies, and Siemens Healthcare, the tissue diagnostics market is quite competitive. To gain a competitive edge, the major players in the industry are adopting mergers and acquisitions, product launches, partnerships and collaborations, and geographical expansions as the key strategies.
Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws