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Report Code: LS10307
Category : Healthcare
The global tissue diagnostics market is growing significantly due to increasing prevalence of cancer, and technological advancements in tissue diagnostics. Massive unexplored tissue diagnostics market in emerging economies and lack of efficient diagnostic procedures are creating ample opportunities for the global tissue diagnostics market to grow at a considerable rate in the coming years. The advanced research and development facilities and increasing investment by large pharmaceutical companies in small tissue diagnostics companies are propelling the demand for cost effective and efficient tissue diagnostics instruments.
A recent trend observed in thetissue diagnostics industry is increasing usage of immunohistochemistry products as companion diagnostics devices. Increasing prevalence of cancer has fuelled the demand of better diagnostic techniques, which could detect cancer in the earliest stage. According to the WHO, in 2012, there were 14 million new cancer cases and 8.2 million cancer related deaths worldwide.
The global tissue diagnostics market is categorized on the basis of product type, technology, application, and end-user. Based on product type, the tissue diagnostics market can be categorized as instruments and consumables. On the basis of technology, the tissue diagnostics market is categorized as digital pathology and workflow management, in situ hybridization, immunohistochemistry, and special staining. The immunohistochemistry segment leads the global tissue diagnostics market in terms of market size.
On the basis of application, the tissue diagnostics market is categorized as non-small cell carcinoma, lymphoma, breast cancer, prostate cancer, gastric cancer, and others. Breast cancer segment leads the tissue diagnostics market. The segment is also expected to grow at the fastest rate in the coming years due to increasing prevalence of breast cancer and rising awareness for breast cancer. Based on end-user, the tissue diagnostics market is categorized as research laboratories, pharmaceutical companies, hospitals, contract research organizations, and others. The hospitals category leads the tissue diagnostics market; whereas, the research laboratories are expected to grow at the fastest rate in the coming years.
Some of the factors driving the growth of the global tissue diagnostics market are increasing prevalence of cancer, increasing investment in tissue diagnostics by pharmaceutical companies, rising awareness for cancer, rapidly aging population, technological advancements in tissue diagnostics procedures, and increasing healthcare expenditure. In addition, tissue diagnostic procedures enable medical professionals to detect cancer in early stage; hence, fueling the growth of the market. However, high cost of tissue diagnostics instruments and stringent regulatory requirements are some of the factors restraining the growth of the global tissue diagnostics market to some extent.
Geographically, North America will be leading the global tissue diagnostics market in the coming years due to high prevalence of cancer cases, high healthcare expenditure, and presence of a large number of hospitals and pharmaceutical companies. Additionally, the legislative reform of Affordable Care Act in the U.S. is also expected to drive the North American market in the coming years. Asia-Pacific is the fastest growing region in the global tissue diagnostics market. The major reasons for the fastest growth in the region are aging population, increasing disposable income, and improving healthcare infrastructure. Moreover, the tissue diagnostics marketis growing due to large unexplored tissue diagnostics market and large population base suffering with cancer in the emerging economies, such as India and China, of Asia-Pacific region.
Some of the major players operating in the global tissue diagnostics market are F. Hoffmann-La Roche AG., Sigma Aldrich Corporation, Abbott, Biogenex Laboratories, BioSB, Cell Signalling Technology Inc., Thermo Fisher Scientific, Inc., Danaher Corporation, Agilent Technologies, GE Healthcare, and Siemens Healthcare.