Tissue Diagnostics Market Report, Global Industry Overview, Growth, Opportunities and Forecast 2019-2024
According to the latest report by IMARC Group, titled “Tissue Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached US$ 3.8 Billion in 2018. Tissue diagnostics has been practiced across the globe for over a century. It is the process of staining and removing tissues for diagnosing a disease, and is mostly employed in oncology. The procedure is used for recognizing specific antigens that are present in preserved tissues. It consists of slicing thin tissue samples, which are treated with a stain of hematoxylin and eosin (H&E). These samples are then formalin-fixed paraffin-embedded (FFPE) in order to identify tumors and other specimens of histopathology. Tissue diagnostics help in detecting the existence of cancer and analyzing other features that may assist in making disease management decisions.
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Global Tissue Diagnostics Market Trends:
With the emergence of network-based medicine, there has been a rise in the requirement of improvements across all facets of healthcare to enhance the detection, visualization and monitoring of diseases. Owing to this, several innovations have been made in the automation of novel platforms and staining equipment, such as digital immunohistochemistry (IHC), which is expected to play a vital role as an advanced laboratory information system (LIS). Besides this, the rising incidences of cancer have prompted governmental and non-governmental organizations across the globe to take initiatives for spreading awareness about the causes, prevention, diagnosis and treatment of cancer. For instance, in September 2018, WHO introduced the WHO Global Initiative for Childhood Cancer, which aims to reach nearly 60% survival rate for children with cancer. Such campaigns are creating a need for high-quality diagnostic services across both the developed and developing regions. Looking forward, the market is projected to reach a value of US$ 5.5 Billion by 2024, registering a CAGR of 6.5% during 2019-2024.
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Market Summary:
- The market has been bifurcated based on the product type, wherein consumables account for the majority of the market share. They are followed by the instruments segment.
- On the basis of the technology, the market has been segmented into immunohistochemistry, in situ hybridization, digital pathology and workflow management, and special staining. Among these, immunohistochemistry represents the most preferred technology segment.
- The market has been segregated according to the disease, which includes breast cancer, gastric cancer, lymphoma, prostate cancer, non-small cell lung cancer, and others. At present, tissue diagnostics is mostly employed for diagnosing breast cancer.
- Based on the end user, the market has been categorized as hospitals, research laboratories, pharmaceutical companies, contract research organizations, and others. Hospitals currently exhibit a clear dominance in the market.
- On a regional basis, North America is the leading market and holds the largest market share. Other regions include Europe, Asia Pacific, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined with some of the key players being Roche, Danaher, Thermo Fisher Scientific, Abbott, Agilent Technologies, Merck, Sakura Finetek Japan, Abcam, BD, Qiagen, Bio SB, Biogenex, and Cell Signaling Technology.
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