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“The global tissue diagnostic market size is projected to register a CAGR of 6.5% during the forecast period.”
The global tissue diagnostics market is expected to reach USD 4.7 billion by 2025 from USD 3.4 billion in 2020, at a CAGR of 6.5%. The growth in this market is driven by rising incidence of cancer, developing infrastructure for cancer diagnosis, the recommendation of cancer screening, availability of reimbursements, and increasing healthcare expenditure.
“The consumables segment is anticipated to grow at the fastest growth rate during the forecast period”
Based on product type, the tissue diagnostics market is segmented into instruments and consumables. The consumables segment is expected to grow at the highest growth rate during the forecast period. The large market share of this segment is driven mainly by their requirement in large numbers, cost-effectiveness, and ease of use. The increasing number of reagent rental agreements is also one of the major factors to drive the growth of the consumables market globally.
“The immunohistochemistry segment is estimated to grow at a rapid rate during the analysis period”
Based on the technology type, the tissue diagnostic market is segmented into immunohistochemistry, in situ hybridization, digital pathology and workflow, and special staining. The immunohistochemistry segment is estimated to register the highest CAGR during the forecast period. This can primarily be attributed to is increasing prevalence of chronic diseases across the globe, where this technology is mostly used in tissue diagnostics.
“Asia Pacific is estimated to register the highest CAGR during the study period”
Geographically, the tissue diagnostic market is dominated by North America and followed by Europe in 2019. However, the Asia Pacific region is estimated to grow at the fastest rate during forecast to period. Economic growth in the countries of this region, large population base, rising prevalence of chronic diseases, rising standard of living, growing demand for quality medical care, increasing healthcare spending, increasing government initiatives, and rising awareness regarding the use of tissue diagnostic tests, will drive the market in the region over the forecast period.
Breakdown of Profiles of Primary Participants:
- By Company Type: Tier 1: 32%, Tier 2: 44%, and Tier 3: 24%
- By Designation: C-level: 30%, Director-level: 34%, and Others: 36%
- By Region: North America: 40%, Europe: 28%, Asia Pacific: 20%, and the Rest of the World: 12%
The key players in the tissue diagnostic market include Roche (Switzerland), Danaher (US), Thermo Fisher Scientific (US), Abbott (US), Agilent Technologies (US), ABCAM (UK), Merck KGAA (Germany), BD (US), Hologic (US), Bio Rad (US), Biomeriux (France), Sakura Fientek Japan (Japan), BioSB (US), Biogenex (US), Cell Signaling Technology (US), Histoline Laboratories (Italy), Slee Medical GMBH (Germany), Amos Scientific PTY Ltd (Australia), Jinhua Yidi Medical Appliance Co.Ltd (China), Medite GMBH (Germany), Cellpath Ltd(UK), Dipath S.P.A. (Italy).
The report analyzes the tissue diagnostic market by product, technology, disease, end user, and region. Apart from comprehensive geographic product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by market players over the last three years. In addition, the company profiles include the product portfolios, developments, and strategies adopted by prominent market players to maintain and increase their shares in the market. Market research data, current market size, and forecast of future trends will help key market players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, and levels of output to remain successful in the market.
Key Benefits of Buying the Report:
This report will enable both established firms and new entrants/smaller firms to gauge the pulse of the market, which, in turn, will help these firms garner greater market shares. Firms purchasing the report can use any 1, or a combination of the below mentioned 5 strategies to increase their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the products of the top players in the tissue diagnostic market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the tissue diagnostic market
- Market Development: Detailed information about emerging markets.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the tissue diagnostic market