MOUNTAIN VIEW, Calif., Jan. 21, 2014 /PRNewswire/ -- Growth in diagnostic test volume conducted across hospitals worldwide is lending momentum to the global tissue diagnostics market. In addition, the shortage of pathologists to perform these tests favors the automation of anatomic pathology laboratories, further spurring market development.
New research from Frost & Sullivan's Analysis of the Global Tissue Diagnostics Market (http://www.lifesciences.frost.com) finds the market earned revenue of $2.39 billion in 2012 and estimates this to reach $3.45 billion in 2017. The analysis is aimed at segmenting the market into two broad categories, namely pre-analytical and advance staining.
For more information on this analysis, please email Jennifer Carson, Corporate Communications, at email@example.com.
Automated tissue diagnostics are gaining acceptance due to the improved technical performance of the assay, which reduces reagent costs and assay time. With anticipated technological improvements over the next three years in the advance staining and pre-analytical segments, faster turnaround times, throughput, and ease will fuel adoption. Developments in staining technologies also showcase the ability to cost-effectively assess mutations, even multiple ones in a single test.
"The availability of tissue-based companion diagnostic tests is another important driver, especially for the U.S. and European market," said Frost & Sullivan Life Sciences Industry Analyst Divyaa Ravishankar. "With companion diagnostic partnerships gathering pace, industry convergence has led to the addition of tissue diagnostics in the in-vitro diagnostic portfolio of most of the pharmaceutical companies."
While increasing consolidation among laboratories and hospitals will escalate workloads and make a case for tissue diagnostic protocols, it will reduce the number of tissue diagnostics customers, forcing vendors to compete aggressively for fewer accounts.
Reimbursement cuts also impede the sale of high-end automated equipment in anatomic pathology laboratories. Use of advanced technology applications such as automatic slide stainers, microtomes and tissue processors are especially limited as they require huge capital.
"Providing attractive procurement strategies can boost the uptake of high-end tools in this constrained environment," suggested Ravishankar. "For instance, offering competitive monthly payments, tax benefits or incentives, and deferring payments to help overcome budgetary constraints will widen the consumer base of vendors in the global tissue diagnostics market."
Analysis of the Global Tissue Diagnostics Market is part of the Life Sciences Growth Partnership Service program. Frost & Sullivan's related research services include: Global Analysis of MicroRNA Tools and Services, Global Mass Spectrometry Market, and Global Next Generation Sequencing Markets. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Analysis of the Global Tissue Diagnostics Market
Corporate Communications – North America
SOURCE Frost & Sullivan