Global Tissue Diagnostics Market to Reach $5.1 Billion by 2025
SAN FRANCISCO , March 28, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Tissue Diagnostics - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 8; Released: February 2022
Executive Pool: 10173
Companies: 40 - Players covered include Abbott Laboratories; Abcam plc; Agilent Technologies; Becton, Dickinson and Company; Bio SB; Bio-Genex Laboratories; Cell Signaling Technology, Inc.; F. Hoffmann-La Roche Ltd; Leica Biosystems Nussloch GmbH; Merck KGaA; QIAGEN N.V.; Sakura Finetek Japan Co., Ltd.; Thermo Fisher Scientific Inc. and Others.
Coverage: All major geographies and key segments
Segments: Product (Consumables, Instruments); Technology (Immunohistochemistry, in Situ Hybridization, Special Staining, Digital Pathology & Workflow); End-Use (Hospitals, Pharma Companies, Research Laboratories, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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ABSTRACT-
Global Tissue Diagnostics Market to Reach $5.1 Billion by 2025
Tissue diagnostics is the process of testing and analysis of tissue samples by way of capturing diseases' biological context. The tests are mainly used for detecting medical conditions such as inflammatory disorders and cancers for revealing the right type of disease and also its malignancy level, which is essential for determining the right treatment options. Amid the COVID-19 crisis, the global market for Tissue Diagnostics is projected to reach US$5.1 Billion by 2025, registering a compounded annual growth rate (CAGR) of 5.6% over the analysis period. United States represents the largest regional market for Tissue Diagnostics, accounting for an estimated 34.9% share of the global total. The market is projected to reach US$1.7 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 8.7% over the analysis period.
Growth in the global market is set to be fueled by increase in cancer incidences, aging population and increasing healthcare spending by countries.
General increase in diagnostic test numbers, technology advancements and increasing pharma industry investments are the other important factors behind strong growth for the global market for tissue diagnostics. Tissue diagnostics is emerging as one of the important tools for cancer management. Tissue diagnosis for cancer detection is carried out through core biopsy, fine needle aspiration cytology and open biopsy. Increasing demand for customized treatments is another important factor promoting growth for the market for tissue diagnostics across the world. There is a growing pressure to identify diagnostic markers for different types of cancers, for customizing plans for treatment of individual cancer patients. Tissue diagnostics play a major role in identifying these markers. Furthermore, quite a few kits of tissue diagnostics are currently being investigated for use as companion diagnostics in various cancer therapies. The increasing prominence of personalized medicine therefore is anticipated to support tissue diagnostics market growth in the coming years. Growth being experienced by the IVD (in vitro diagnostic) market, which constitutes a major part of personalized medicine development, is also anticipated to contribute to market growth going forward.
North America represents a key regional market, led by factors such as higher cancer incidence rate, growth of personalized medicine, increased adoption of technologically more advanced tissue diagnostics, geriatric population, and high number of collaborations between biotech firms and pharmaceutical companies in the region. One of the factors that resulted in the largest share for this market is the high number of collaborations between biotech firms and pharmaceutical companies in the region for providing expanded product offerings. Focus is also high in the region on personalized medicine, which is also contributing to market growth. Growth in the Asia-Pacific region is attributable to the constantly rising need for enhanced testing, increased demand for improved facilities for patient care, and favorable regulations. In China, there is continued rise in private lab chains which is anticipated to create strong demand or tissue diagnostic equipment and consumables over the coming years. In India, changing regulations leading to revised pathology laboratory guidelines along with rising cancer prevalence rates are expected to create market growth opportunities.
The market for Immunohistochemistry tissue diagnostic tests is forecast to dominate market share over the analysis period. IHC is applied widely in development of diagnostics as well as therapeutics for cancers and also in clinical R&D. The test is being increasingly preferred to traditional enzyme-staining techniques. Continuous innovations also create strong growth opportunities for the market. Technical advances in IHC technique have the potential to harness the wealth of contextual information contained in tissue samples. To meet the demand for precise and accurate data, next-generation IHC techniques improve the accuracy, precision, and analytical features to expedite research and improve patient care. More
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