According to a new market research study titled ‘Cancer Tissue Diagnostics Market to 2027 – Global Analysis and Forecasts by Test Type.’ The global cancer tissue diagnostics market is expected to reach US$ 3,419.61 Mn in 2027 from US$ 2,025.41 Mn in 2018. The market is estimated to grow with a CAGR of 6.2% from 2019-2027. The report highlights the trends prevalent in the global cancer tissue diagnostics market and the factors driving the market along with those that act as deterrents to its growth.
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Personalize medicine is a relatively new approach; however it is expanding the field in the healthcare sector. It enables a medical practitioner to select treatment based on a patient’s genetic profile. This approach not only minimizes harmful side effects but also leads to successful result within a short period. Cancer personalize medicine involves the study of individuals genetic makes up for tumor growth. By studying the patient’s genetic make-up, an oncologist may customize the treatment depending on the patient’s genetic mutations. For instance, Mutations in ALK, KRAS, and EGFR lead to lung cancer. However, identifying the type of mutation in the lung cancer patient provides crucial information for the kind of treatment. Due to these advantages of tailoring the treatment based on individual’s genetic profile, the personalized medicine approach is likely to create many opportunities for the cancer tissue diagnostics market.
Leading Companies Overview-
- Hoffmann-La Roche Ltd.
- Danaher Corporation
- Thermo Fisher Scientific Inc.
- Bio Rad Laboratories Inc.
- Enzo Life Sciences, Inc.
- Agilent Technologies, Inc.
- Cancer Genetics Inc.
- Merck KGaA (Sigma-Aldrich Co. LLC)
- Abcam plc
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Global cancer tissue diagnostics market, based on test type, was segmented as, immunohistochemical tests and in situ hybridization tests. In 2018, the immunohistochemical tests segment held a largest market share 57.65% of the cancer tissue diagnostics market, by test type. This segment is also expected to dominate the market in 2027 owing to the low cost of the procedure. Higher acceptance of the method for diagnosis purpose. Moreover, the technique is easily accessible, and growth in number of products based on technology. Additionally, the rising prevalence of cancer is a major factor for the growth of the diagnostic tests. The segment is also anticipated to witness growth at a significant rate during the forecast period, 2019 to 2027.
The report segments the global cancer tissue diagnostics market as follows:
Global Cancer Tissue Diagnostics Market – By Test Type
- Breast Cancer
- Colorectal Cancer
- Prostate Cancer
- Stomach Cancer
In Situ Hybridization Tests
- Breast Cancer
- Lung Cancer
- Bladder Cancer
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