(PharmaNewsWire.Com, April 29, 2020 ) The increasing pressure to identify diagnostic markers for cancer in order to customize treatment plans for individual patients is expected to increase the usage of personalized medicine for cancer. Tissue diagnostics enables the identification of these cancer markers, and several tissue diagnostics kits are being investigated as companion diagnostics for cancer therapies. Thus, the growing use of personalized medicine is expected to support the growth of the tissue diagnostics market.
The growing incidence of cancer along with a rapidly aging population, technological advancements in tissue diagnostics techniques, and increasing healthcare expenditure are key factors driving the growth of the tissue diagnostics market.
How much is the Tissue Diagnostics Market worth?
The tissue diagnostics market is expected to reach USD 5.14 Billion by 2022 from USD 3.44 Billion in 2016 at a CAGR of 6.9% during the forecast period. North America was the largest market for tissue diagnostics in 2017, due to several factors such as the strong presence of market players in the region, the growing geriatric population and chronic disease incidence, and easy access to healthcare services. However, Asia is expected to witness the highest CAGR during the forecast period with growth centered at Japan, China, and India.
By product, the market is segmented into instruments and consumables. The consumables segment is estimated to account for the largest market share of the global market in 2017. Factors driving the growth of this segment include the widespread use of consumables and advances in technology to develop novel consumables.
By technology, the market is classified into immunohistochemistry, in situ hybridization, digital pathology and workflow, and special staining. The immunohistochemistry segment is estimated to account for the largest share of the global market during the next five years. Growth in the IVD (in vitro diagnostics) market and the large number of products based on this technology are driving the growth of this market.
On the basis of end user, the tissue diagnostics market is segmented into hospitals, pharmaceutical companies, research laboratories, contract research organizations, and other end users. The hospitals segment is estimated to account for the largest share of the global tissue diagnostics market during the forecast period. Growth in the number of hospitals coupled with better accessibility and availability of test results in hospitals are major factors driving the growth of this end-user segment.
Which are the key players in the Tissue Diagnostics market and how intense is the competition?
Roche (Switzerland), Danaher (US), Thermo Fisher Scientific (US), Abbott (US), Agilent Technologies (US), Merck (Germany), Sakura Finetek Japan (Japan), Abcam (UK), BD (US), QIAGEN (Netherlands), Sienna Cancer Diagnostics (Australia), Royal Philips (Netherlands), A. Menarini Diagnostics (Italy), Cell Signaling Technology (US), Enzo Life Sciences (US), Master Diagnóstica (Spain), TissueGnostics (Austria), Bio SB (US), MedImmune (US), Cernostics (US), Zenalux Biomedical (US), 3DHISTECH (Hungary), Lunaphore Technologies (Switzerland), BioGenex (US), and Biocare Medical (US).
In 2015, the company introduced VENTANA HE 600 system, which is a new automated hematoxylin and eosin (H&E) tissue staining system with customizable protocols.
In 2017, the company partnered with Advanced Cell Diagnostics (US) to develop and commercialize innovative tissue diagnostic instruments.
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