The global tissue diagnostics market should reach $6.4 billion by 2026 from $4.7 billion in 2021 at a compound annual growth rate (CAGR) of 6.0% for the forecast period of 2021 to 2026.
The report analyzes each market and its applications, regulatory environment, technologies involved, market projections and market shares.
The emerging markets discussed include countries such as India, China, South Korea, Taiwan, Africa, Australia, Brazil, and Russia, among others. The report also examines market drivers as well as restraints and challenges affecting its growth.
Further, the report also highlights the emerging products and technologies and associated start-ups that are likely to accelerate the growth of the industry through their best practices in the research and development of tissue diagnostic tests. Excluded from this study is diagnostic testing such as imaging, veterinary diagnostics and their associated products.
The most significant market trend during 2020 was the origin and global spread of COVID-19, the disease caused by the novel coronavirus. Originating in late 2019 in China, the virus quickly became a global pandemic. Global health organizations and diagnostic manufacturers quickly developed and approved tests for the virus. This effort overwhelmed all other trends in 2020. One effect of this activity was a complete halt of merger and acquisition activity among major diagnostic manufacturers in 2020.
Because of its large population and its position as a medical technology innovation hub, North America is the global leader in terms of tissue diagnostics utilization. It remains the largest market, accounting for roughly 42.0% of the total market in 2020. The emerging markets of India, China, Russia and Brazil are poised to grow at double-digit growth rates due to rising incomes, growing healthcare budgets and heightened health awareness among the population.
In Asia-Pacific, there is increasing demand for tissue diagnostic test devices, as more people are concerned about quality healthcare. Further, the expanding aging population is leading to a significant rise in the volume of clinical tests performed in laboratories. The Asia-Pacific region is currently dominated by Japan, with the largest share of revenues growing at a stable growth rate. In the coming years, however, the Asia-Pacific market is expected to be driven by emerging economies, such as China, followed by India.
The Report Includes:
Estimation of the market size and analyses of the global market trends, with data from 2018 to 2020, estimates for 2021 with a projection of CAGR through 2026
Market share analysis of tissue diagnostic testing based on type, application, end-user and geography
A detailed description of the three major tissue diagnostics tests, i.e., hematoxylin and eosin (H&E), immunohistochemistry (IHC) and in situ hybridization (ISH)
Description of molecular diagnostic tests including antigen tests, antibody (serology) tests and in vitro diagnostic testing, and information on alternative options for diagnostic tests
Details about the COVID-19 global pandemic, its testing basics and specific tests for the management of COVID-19 patients
Identification of new opportunities, challenges and technological changes within the industry
Assessment of regulatory structure, pricing and reimbursement scenario, pipeline analysis and FDA product approvals in 2020
The general culture test segment of the global tissue diagnostics market is expected to grow from $3.0 billion in 2021 to $3.9 billion in 2026 at a CAGR of 5.4% for the forecast period of 2021 to 2026.
The AST/ID test segment of the global tissue diagnostics market is expected to grow from $1.1 billion in 2021 to $1.5 billion in 2026 at a CAGR of 7.1% for the forecast period of 2021 to 2026.
Company profiles of major players in the market, including Abbott Diagnostics Inc., Becton, Dickinson and Co., General Electric, Merck KGaA, Qiagen N.V. and Thermo Fisher Scientific Inc.