Global Tissue Diagnostic Market: Snapshot
With the increased prevalence of cancer, the market for tissue diagnostics has a gained significant impetus across the world. The infrastructural development in the medical and healthcare industry is another important factor that has boosted the global tissue diagnostics market substantially over the past few years.
Over the forthcoming years, the rising trend of the quantitative and qualitative analyses of tissue samples, discovery of target specific antibodies in the biopharmaceutical industry, and the growing awareness about tissue diagnosis in emerging economies are expected to act as the most prominent factors behind the growth of this market. Thanks to these factors, the market, which stood at US$3.57 bn in 2015, is estimated to expand at a 9.50% CAGR between 2016 and 2024 and touch a value of US$8.02 bn by the end of 2024.
Tissue Diagnostic Instruments to Continue Enjoying Strong Demand
The two main products available in the global tissue diagnostic market are instruments and kits. Among the two, instruments surfaced as the key contributor to this market in 2015, holding a share of more than 77%. With the high usage of tissue diagnostic instruments in labs, hospitals, and diagnostic centers for faster and accurate analysis, their demand is anticipated to increase remarkably over the next few years, maintaining the lead of this product segment. The continual advancements in these instruments, such as reduction in equipment size and increased functionality, coupled with reasonable pricing, are projected to add to the growth of this segment in the years to come.
Hospitals, research laboratories, ambulatory surgical centers (ASCs), and diagnostic centers are the prime end users of tissue diagnostic products and services. Hospitals, with a majority share, has acquired the position of the leading contributor to this market and is anticipated to retain this over the forthcoming years. The increasing prevalence of cancer, especially various forms of tissue sarcoma, rising healthcare expenditure in emerging as well as developed countries, and the expanding base of the geriatric population are expected to drive the demand for tissue diagnostic products and services in hospitals and other end users in the near future.
North America to Report Continued Dominance
The Middle East and Africa, Europe, North America, Latin America, and Asia Pacific have emerged as the predominant geographical segments of the worldwide tissue diagnostic market. With a share of around 40%, North America registered dominance over these in 2015, thanks to a well-established pharmaceutical and biotechnology industry and the increase in research activities. Analysts predict that this regional market will remain on the top over the next few years on the grounds of the surging research capital, introduction of improved and technologically advanced tissue diagnostic devices, and the presence of the leading market players in a large number.
In the recent times, the North America market for tissue diagnostics has been closely followed by Europe and Asia Pacific and the scenario is likely to remain more or less the same over the forthcoming years. The market for tissue diagnostics in Europe, which was primarily driven by the escalating investments from various research organizations for the advanced study of cancer, is likely to benefit further from the change in healthcare reforms, increasing implementation of government regulations, growth in the pharmaceutical industry, and the technological advancements in diagnostic technology. Asia Pacific, on the other hand, is expected to gain substantially in the years to come from ongoing industrialization and the continual drug discovery.
Abbott Laboratories, Becton Dickinson & Co., Genomic Health Inc., 3DHISTECH, Danaher Corp., Thermo Fisher Scientific Inc., GE Healthcare, Cell Signaling Technologies, Agilent Technologies, and Roche Diagnostics are some of the key players in the global tissue diagnostic market.
Global Tissue Diagnostic Market: Overview
This report on tissue diagnostic market studies the current as well as future prospects of the market globally. The stakeholders of this report include companies and intermediaries engaged in the manufacture and commercialization of various tissue diagnostic instrument and products as well as new entrants planning to enter this market. This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments and sub-segments considered within the scope of the study. This section also provides the overall information and data analysis of the global market with respect to the leading market segments based on major products, applications and geographies.
The market overview section of the report explores the market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the global market and could influence the market in the near future. Market attractiveness analysis has been provided in all the sections of the report in order to explain the intensity of competition in the market across different products/materials/technologies/end-users/geographies. The competitive scenario among different market players is evaluated through market share analysis in the competition landscape section of the report. The section also includes completion matrix that analyzes the competition among some of the top global players operating in the market. All these factors would help market players to take strategic decisions in order to strengthen their positions and expand their shares in the global market.
Global Tissue Diagnostic Market: Segmentation
The global tissue diagnostic market is divided into: by product, by technology, by end-user and by geography. Product type segment of tissue market was divided into instruments and kits. On the basis of technology the market is classified as immune histochemistry, in-situ hybridization, digital pathology and special staining. On the basis of end-user the market is classified as hospitals, ambulatory surgical centers, diagnostic centers and research laboratories.
The market for these segments has been extensively analyzed based on their utility, effectiveness, sales, and geographic presence. Market revenue in terms of US$ Mn and market volume in terms of units for the period from 2016 to 2024 along with the compound annual growth rate (CAGR %) from 2016 to 2024 are provided for all segments, considering 2016 as the base year.
Geographically, the tissue diagnostic market has been segmented into five regions: North America, Europe, Asia Pacific, Europe, Middle East & Africa (MEA), and Latin America. Each regional market for market has been further categorized into major product, applications, material, and end-user segments considered within the scope of the study. Key country (U.S., Canada, Japan, Germany, France, U.K., Australia, Canada, China, Brazil, Mexico, India, etc.) market revenues have also been provided in different regional sections within the report. Market revenue in terms of US$ Mn and volume in terms of units for the period from 2014 to 2025 along with CAGR % from 2016 to 2025 are provided for all the regions and nations considering 2016 as the base year.
Companies Mentioned in the Report
The report profiles key manufacturers in the tissue diagnostic market based on various attributes such as company details, SWOT analysis, strategic overview, financials, and business overview. Major players profiled in this report include F Hoffmann-La Roche, Thermo Fisher Scientific, Agilent Technologies, Abbot Laboratories, GE Healthcare, 3DHISTECH Ltd., Genomic Health, Cell Signaling Technology, Inc., Danaher Corporation and Becton, Dickinson and Company.
The global tissue diagnostic market has been segmented as follows:
By Product Type
- IHC (Immuno histochemistry)
- ISH (Is-situ hybridization)
- Digital Pathology
- Special Staining
By End User
- Ambulatory surgical centers
- Diagnostic centers
- Research laboratories
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa