Global Tissue Diagnostic Market to Reach USD 6825.3 Million by 2026

The global tissue diagnostic market was valued at approximately USD 3862.0 million in 2017 and is expected to generate revenue of around USD 6825.3 million by end of 2026, growing at a CAGR of around 6.5 percent between 2018 and 2026. The demographic development and profile together with rising treatment potential lead to a lot of challenges to augment the productivity of healthcare. To get the productivity dive, diseases will play a key role. Tissue diagnostic is specifically carried out for the identification of cancerous cells, where a small tissue sample is used to identify the existence of cancer. As the cancer is caused due to abnormal growth of cells. Tissue diagnostic is also known as the biopsy process. Cancer is one of the leading causes of mortality globally. There are various types of cancer such as lung cancer, prostate cancer, lymphoma, breast cancer, colon cancer, skin cancer, and gastric cancer. Among which breast cancer is one of the leading types of cancer-causing death especially in women. Cancer is the second most common cause of death in the US According to the American Cancer Society in 2017 around 600,920 American population died due to cancer.

Tissue diagnostic plays a vital role in the detection, diagnosis, and monitoring of cancerous cells or tumor. Majority of cancer cases is detected and diagnosed when the tumor is seen or felt. The global tissue diagnostic market is segmented on the basis of product type, technology, diseases, end-users, and regions. By product type, the market is segmented into consumables and instruments. The consumables segment is further classified into kits & reagents and probes. The instruments segment is sub-segmented into slide-staining systems, scanners, tissue-processing systems, and others. Among consumables and instruments, the consumables segment attributes for the higher market share in global tissue diagnostic market, owing to increasing clinical trials, rinsing diagnostic procedures, and accurate results. Based on technology, the global tissue diagnostic market is segmented into immunohistochemistry (IHC), in situ hybridization (ISH), digital pathology and workflow management, and special staining. The immunohistochemistry (IHC) contributes to the major market share in terms of revenue for the global tissue diagnostic market. Whereas, increasing popularity of the in situ hybridization (ISH) will boost the segment growth at the highest CAGR. Ease of accessibility, better results, and affordable cost are escalating the number of in situ hybridization (ISH) procedure in the developed market.

Diseases segment in the global tissue diagnostic market is divided into breast cancer, gastric cancer, lymphoma, prostate cancer, non-small cell lung cancer (NSCLC), and others. Breast cancer segment is expected to dominate the market owing to the increasing incidence rate of breast cancer worldwide. Breast cancer is the most common cause of cancer in women in developing countries with around 1.7 million cases in 2012, as per the Breast Cancer Research Foundation. In 2015, the National Cancer Institute, spend USD 4,480 million on a range of cancer research which comprises colorectal cancer, breast cancer, liver cancer, cervical cancer, leukemia, lung cancer, uterine cancer, and ovarian cancer. Hospitals, research laboratories, ambulatory surgical centers, diagnostic centers, and others are the key end-user segments of the global tissue diagnostic market. The hospitals and diagnostic centers segments hold the prominent share of global tissue diagnostic market. High preference of patients for hospital diagnostics will boost the hospital segment by end-users. Whereas, the diagnostic center’s segment is expected to grow at a significant CAGR.

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are major regional segments of global tissue diagnostic market. North America is anticipated to remain the leading region. Growth in the region is attributed to the high prevalence of cancer and the adoption of advanced diagnostic techniques. According to the National Cancer Institute in the US, approximately 1,735,350 new cases of cancer will be diagnosed in 2018 and about 609,640 people will die from the disease. Due to increasing health awareness specifically for cancer, rising incidences, developing healthcare infrastructure, and rising government policies for cancer diagnosis will fuel the growth of the tissue diagnostic market in the Asia Pacific region. Developing nations such as China and India are the most prominent markets owing to the rapid growth potential for the market players that are involved in the expansion and promotion of the diagnostic devices for the healthcare industry. Some of the key players in the tissue diagnostic market include Roche Diagnostic, Agilent Technologies, Danaher Corp., Genomic Health Inc., 3DHISTECH, Abbott Laboratories, GE Healthcare, Becton Dickinson & Co., Cell Signaling Technologies, and Thermo Fisher Scientific Inc., among others. – Zion Market Research

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