Tissue-based diagnostics serves as one of the most important techniques for cancer diagnosis. The International Agency for Research on Cancer (IARC) predicts that, by 2030, the global burden is expected to increase to 21.7 million new cancer cases and 13 million cancer deaths, due to the growth and aging of the population, apart from other factors, such as smoking, poor diet, physical inactivity, and fewer childbirths. The tissue diagnostics capture the disease insights and the parameters that factor into the patient outcomes. Tissues generally enable personalized diagnosis & treatment. Samples usually consist of pieces of tissue obtained by various methods. These include small biopsies and large specimens removed at surgery. Other factors such as growing healthcare expenditure, and technological advancements in tissue diagnostics are the major factors driving the growth of the market.

Key Market Trends

Breast Cancer Segment is Expected to Register a Significant Growth in the Forecast Years

Based on the application, it is segmented into breast cancer, prostate cancer, gastric cancer, and others. The main factors attributed to the growth of this segment is the increasing burden of breast cancer. It is the most commonly diagnosed cancer among American women. In 2017, it was estimated by the American Cancer Society, that about 30% of the newly diagnosed cancers in women were breast cancers. Hence, the increasing cancer cases along with advancements in the field of tissue diagnostics are major factors contributing to the growth of the market in the forecast period.

North America holds the Largest Share in the Tissue Diagnostics Market

The tissue diagnostics market holds the largest share in the North America region due to the increased awareness about the potential benefits of diagnostics among the population. The rising cancer burden along with a rapidly aging population is the key factor for market growth. According to the World Health Organization, between 2015 and 2050, the proportion of the world’s population over 60 years will nearly double from 12% to 22%. Moreover, rising disease burden is further pushing the need for effective and quick treatment options which is expected to propel the growth of the market, over the forecast period.

Competitive Landscape

The global players into the tissue diagnostics market are Abbott Laboratories, Agilent Technologies, Inc., BioGenex Laboratories, Cancer Genetics, Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd, Genomic Health, Inc., Merck KGaA and Thermo Fisher Scientific.

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