The Global Tissue Diagnostics Market size is expected to reach USD 8.81 Billion at a steady revenue CAGR of 6.6% in 2030, according to the latest analysis by Emergen Research. The rising incidence of cancer is one of the main factors propelling this market’s enhanced revenue growth. Over 10 million fatalities, or roughly one in every six, will be attributable to cancer in 2020, making it the leading cause of death worldwide. Around 30% of cancer incidences in low- and lower-middle-income countries are caused by cancer-causing infections such the Human Papillomavirus (HPV) and hepatitis. Making decisions for the best possible caregiving involves taking tissue diagnostics into account. Without a thorough diagnosis, patients cannot be treated effectively. The necessity for tissue diagnostics to aid in the treatment process is expanding due to the rise in the incidence of various types of cancer around the world, which is fueling market revenue growth.
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Tissue Diagnostics Market Global Dynamics
Drivers: Rising prevalence of cancer
Cancer is a complicated illness that arises as a result of the multi-stage carcinogenesis process, which involves numerous pathways. As a result, a cancer diagnosis, prognosis, and treatment are fraught with difficulties. According to the WHO, chronic infectious agents such the hepatitis B virus, HIV, HPV, and Helicobacter pylori are responsible for one-fifth of all malignancies in the globe. GLOBACON estimates that cancer killed 19.9 million people in 2020, including 9.9 million people from nonmelanoma skin cancer, out of a total population of 37.4 million. Both the ageing population as a whole and the expanding geriatric population can be blamed for the rise in cancer incidence.
The need for oncology diagnostics has considerably expanded as cancer incidence has increased. Government agencies, healthcare providers, and institutions are now required to set up facilities for efficient illness diagnosis and treatment. The demand for tissue diagnostics is being driven by this.
Some major companies in the global tissue diagnostics market report include Hoffmann-La Roche Ltd., Danaher, Thermo Fisher Scientific Inc., Abbott, Agilent Technologies, Inc., Merck KGaA, Sakura Finetek Japan Co., Ltd., Abcam plc., BD and Bio SB.
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Emergen Research has segmented the global tissue diagnostics market on the basis of product, technology, disease, end-use, and region:
- Product Outlook (Revenue, USD Billion; 2019–2030)
- Consumables
- Instruments
- Technology Outlook (Revenue, USD Billion; 2019–2030)
- Immunohistochemistry (IHC)
- In Situ Hybridization (ISH)
- Digital Pathology & Workflow Management
- Special Staining
- Disease Outlook (Revenue, USD Billion; 2019–2030)
- Breast Cancer
- Gastric Cancer
- Lymphoma
- Prostate Cancer
- Non-Small Cell Lung Cancer
- Others
- End-Use Outlook (Revenue, USD Billion; 2019–2030)
- Hospitals
- Research Laboratories
- Pharmaceutical Companies
- Contract Research Organizations
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Findings in the Global Tissue Diagnostics Market Study:
According to product type, the consumables segment is anticipated to hold the highest market in 2022.
Consumables used in diagnosis are one-time or limited-use materials. The substantial market share of this sector is related to the development of novel reagents and other consumables as well as the ongoing need for consumables. For instance, the U.S. National Cancer Institute’s (NCI) Early Detection Research Network (EDRN), a cooperative group of academic and private-sector researchers, focuses on the methodical discovery, development, and validation of biomarkers and imaging methods to detect early-stage cancers and to assess the risk associated with developing cancer. The need for tissue diagnostics consumables is driven by such research projects.
According to product type, the consumables segment is anticipated to hold the highest market in 2022.
Consumables used in diagnosis are one-time or limited-use materials. The substantial market share of this sector is related to the development of novel reagents and other consumables as well as the ongoing need for consumables. For instance, the U.S. National Cancer Institute’s (NCI) Early Detection Research Network (EDRN), a cooperative group of academic and private-sector researchers, focuses on the methodical discovery, development, and validation of biomarkers and imaging methods to detect early-stage cancers and to assess the risk associated with developing cancer. The need for tissue diagnostics consumables is driven by such research projects.
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According to application, the breast cancer segment is anticipated to hold the highest share in 2022.
Breast cancer is highly prevalent and steadily increasing worldwide. WHO estimates that 2.3 million women will receive a breast cancer diagnosis worldwide in 2020. Because of the high incidence of breast cancer and the existence of financing initiatives to assist research and early detection of breast cancer, this category holds a sizable market share.
In 2022, the hospitals & diagnostic laboratories category is anticipated to hold the greatest market based on end user.
Due to the rising incidence of cancer worldwide and the high patient flow to hospitals and diagnostic labs, as well as increased funding for the adoption of cutting-edge technology, this market segment holds a sizable market share.
Asia-Pacific: A Region with Lucrative Regional Market Growth
The rise in healthcare spending, increased healthcare services, rising cancer prevalence, and early cancer screening in Asia-Pacific are all factors contributing to the expansion of this regional market.
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