Tissue Diagnostics Market worth $7.3 billion by 2027 – Exclusive Report by MarketsandMarkets™
According to market research report, "Tissue Diagnostics Market by Product(Antibodies, Kits, Slide Staining System, Tissue Processing System), Technology(ISH, IHC, Special Staining), Disease(Breast Cancer, NSCLC, Lymphoma), End User (Hospitals, Research Laboratories) - Global Forecast to 2027", is expected to reach USD 7.3 billion by 2027 from USD 5.3 billion in 2022, at a CAGR of 6.6% during the forecast period.
The growth of this market is majorly driven by growing cancer cases, rising geriatric population with subsequent growth in chronic and infectious diseases. However, Lack of infrastructure and low awareness in middle and low income countries are some of the challenges for which may hinder the growth of this market.
Antibodies in the consumable’ segment to witness the highest shares during the forecast period.”
Based on the product, the tissue diagnostics market is classified into tissue diagnostics consumables (Antibodies, Kits, Reagents, Probes) and tissue diagnostics Instruments (Slide-staining Systems, Scanners, Tissue-processing Systems, Other Instruments). The antibodies in the consumables segment is expected to dominate the tissue diagnostics market. These are primarily used in the research and diagnosis of cancers, infectious diseases, and autoimmune & hormonal disorders hence rising usage of antibodies in the research as well diagnosis is driving the tissue diagnostics market.
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Cancer is a complex disease that develops through the multi-stage carcinogenesis process involving multiple pathways. As a result, there are various hurdles associated with a cancer diagnosis, prognosis, and therapy.
According to the WHO, one-fifth of all cancers worldwide are caused by chronic infectious agents, for instance, hepatitis B virus, HIV, HPV, and Helicobacter pylori.
According to GLOBACON, cancer prevailed among 37.4 million (including 18.1 nonmelanoma skin cancer) population and accounted for 19.9 (including 9.9 nonmelanoma skin cancer) million deaths in 2020. The increase in the incidence of cancer can be attributed to the growing geriatric as well as the total population.
The incidence of cancer is the highest in developed regions; however, cancer mortality is relatively higher in underdeveloped regions due to factors such as a lack of access to treatment facilities and the late detection of cancer in several patients. According to the WHO, for many types of cancers, the incidence rate in countries with high or very high HDI1 is generally 2 to 3 times that in countries with low or medium HDI.
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Based on the North American region, the tissue diagnostic market is divided into US and Canada. US is expected to dominate the market. The high healthcare budget, the increasing incidence of cancer and funding for cancer research, and the rising availability of technologically advanced products, is the key factor driving market growth in the US.
Major players operated in US of the tissue diagnostics market are Danaher Corporation (US), Thermo Fisher Scientific, Inc (US), Abbott (US), Agilent Technologies Inc. (US), Becton, Dickinson and Company (BD) (US), Bio SB (US), Biogenix (US), Cell Signaling Technology, Inc (US), and Hologic Inc. (US)
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