Tissue Diagnostics Market to Reach $8.52 Billion by 2029 - Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®

Tissue Diagnostics Market to Reach $8.52 Billion by 2029 - Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®

PR Newswire

REDDING, Calif., Nov. 17, 2022

REDDING, Calif., Nov. 17, 2022 /PRNewswire/ -- According to a new market research report titled, 'Tissue Diagnostics Market by Product Type (Antibodies, Kits, Reagents, Instruments [Slide Stainer, Scanner]), Technique (Digital Pathology, IHC, ISH, H&E Staining), Cancer Type (Breast, NSCLC, Colorectal, Prostate), and End User - Global Forecast to 2029,' published by Meticulous Research®, the tissue diagnostics market is projected to reach $8.52 billion by 2029, at a CAGR of 7.4% from 2022 to 2029.

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According to World Health Organization (WHO), cancer is among the leading causes of death worldwide. In 2020, cancer accounted for 10 million deaths globally. Nearly 70% of cancer deaths occur in low and middle-income countries. (Source: WHO). The burden of cancer is growing globally, exerting tremendous economic strain on countries. Early detection is important in reducing mortality, improving the chances of survival, and saving on treatment costs.

The International Agency for Research on Cancer (IARC) estimates that globally, 1 in 5 people develop cancer during their lifetime, and 1 in 8 men and 1 in 11 women die from the disease. Factors such as geriatric populations and socio-economic risks are driving this increase. Moreover, breast cancer is the most common type of cancer globally. Thus, the demand for tissue diagnostics is experiencing a surge due to the rising prevalence of cancer globally and the growing number of clinical trials for oncology drugs. For this, one of the recent developments includes the advent of digital pathology and the availability of tissue-based companion diagnostics.

The global tissue diagnostics market is segmented by Product Type (Consumables [Kits & Reagents, Antibodies], Instruments [Slide Staining Systems, Tissue Microarrays, Slide Scanners, Tissue Processors, Other Instruments {Embedding Systems, PCR, NGS]); Technique (Immunohistochemistry, In-situ Hybridization, Digital Pathology, H&E and Special Staining, Molecular Diagnostics, Other Techniques); Application (Breast Cancer, Lung Cancer, Colorectal and Gastrointestinal Cancer, Prostate Cancer, Lymphoma, Other Applications); End User (Hospitals & Diagnostic Laboratories, Research Institutes, Pharmaceutical Companies, and Contract Research Organizations). The study also evaluates industry competitors and analyzes their market shares at the global and regional levels.

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Based on product type, in 2022, the consumables segment is expected to account for the largest share of the market. The large market share of this segment is attributed to recurring needs for consumables in tissue diagnostics and associated research, technological advances in developing novel consumables, and the launches of kits and reagents for tissue diagnostics.

Based on application, the tissue diagnostics market is segmented into breast cancer, lung cancer, colorectal and gastrointestinal cancer, prostate cancer, lymphoma, and other applications. In 2022, the breast cancer segment is expected to account for the largest share of the market. The high prevalence of breast cancer, several research and screening programs, and research funding for cancer research contribute to the large market share of this segment.

Based on end user, in 2022, the hospitals & diagnostic laboratories segment is expected to account for the largest share of the market. The adoption of tissue-based testing techniques over conventional techniques in hospitals & diagnostic laboratories is a key factor contributing to the large market share of this segment. Additionally, physicians now prefer tissue-based techniques to meet timelines and identify a specific type of disease.

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Based on geography, the tissue diagnostics market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, with a further analysis of major countries in these regions. In 2022, North America is expected to account for the largest share of the tissue diagnostics market. The large market share of this regional market is attributed to the increase in cancer incidences and the chronic lifestyle. The region has easy accessibility to advanced technologies and a number of cancer research and prevention projects. For instance, The Centers for Disease Control and Prevention (CDC) has established The Cancer Prevention and Control Research Network flagship program for cancer prevention in the U.S.

However, Asia Pacific region is expected to witness a rapid growth during the forecast period. The growth of this regional market is attributed to the growing cancer prevalence, improving healthcare services, rising healthcare spending, and early cancer screening in Asia-Pacific.

Some of the key players operating in this market are F. Hoffmann-La Roche Ltd. (Switzerland), Thermo Fisher Scientific Inc. (U.S.), Abbott Laboratories (U.S.), Danaher Corporation (U.S.), QIAGEN N.V. (Netherlands), Becton, Dickinson and Company (U.S.), Abcam plc (U.K.), Agilent Technologies, Inc. (U.S.), Merck KGaA (Germany), Sakura Finetek Japan Co., Ltd. (Japan), Cell Signaling Technology, Inc. (U.S.), Bio-Genex Laboratories (U.S.), Bio SB, INC (U.S.), 3DHISTECH (Hungary), and HOLOGIC, INC. (U.S.).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/tissue-diagnostics-market-4971

Scope of the Report:

Tissue Diagnostics Market, by Product Type

Note: Other instruments majorly include embedding systems, PCR, and NGS

Tissue Diagnostics Market, by Technique

Note: Other techniques majorly include flow cytometry, image cytometry, electron microscopy, and ELISA

Tissue Diagnostics Market, by Application

Note: Other applications majorly include cervical cancer, skin cancer, and lip & oral cavity cancer

Tissue Diagnostics Market, by End User

Tissue Diagnostics Market, by Geography

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About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

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