Tissue Diagnostic Market to Record an Exponential CAGR by 2020

Cancer is a disease caused due to abnormal growth of cells. It leads to uncontrolled multiplication of cells into other tissues. Cancer cells can spread to other parts of the body through lymph and blood system. There are various types of cancers such as breast cancer, prostate cancer, lung cancer, colon cancer, skin cancer and lymphoma. Globally, it is the leading cause of deaths. Breast cancer is the most common form of cancer in women. According to World Health Organization (WHO) in 2012, approximately 8.2 million people died due to cancer. Similarly, according to American Cancer Society more than one million people suffer with cancer every year. Most cases of cancer are diagnosed and detected after a tumor is visible or felt. Tissue diagnostic plays crucial role for diagnosis, monitoring and management of cancer disease.

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Tissue diagnostics is also used for the diagnosis of next generation sequencing, decoding cancer molecular profiles and circulating tumor cells. Tissue diagnosis is done by fine needle aspiration cytology, open biopsy and core biopsy. The degree to which cancer has invaded the healthy tissue, stage and type of cancer can be determined with the help of biopsy. It helps to analyze the biopsy at molecular level to determine the course of treatment. Tissue diagnostics is used by pharmaceutical companies, contract research organizations, research laboratories and hospitals for the diagnosis of cancer. Some of the major tissue diagnostic tests are immunohistocheistry (IHC), hexatoxylin & eosin (H&E) and in situ hybridization (ISH).

North America dominates the global market for tissue diagnosis due to increasing prevalence of cancer. In addition, introduction of Patient Protection and Affordable Care Act in the U.S leads to increase in insurance access. Asia is expected to show high growth rates in the next five years in the global tissue diagnostic market. China and India are expected to be the fastest growing tissue diagnostic markets in Asia-Pacific region. Some of the key driving forces for tissue diagnostic market in emerging countries are large pool of patients and increasing aging population.

In recent times there is increased use of tissue diagnosis due to increasing prevalence of cancer. Increase use of personalized medicine, increasing research funding for cancer, changing life style and rise in aging population are some of the key factors driving the growth for the global tissue diagnostic market. In addition, increasing healthcare awareness is also fuelling the growth of global tissue diagnostic market. However, high cost involved in tissue diagnosis and reimbursement issues are some of the major factors restraining the growth for the global tissue diagnostic market.

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Innovation in diagnostic testing for highly efficient testing such as IHC, ISH & FISH staining technologies would develop opportunity for the global tissue diagnostic market. Strict regulatory framework for approval of devices could lead a challenge for the global tissue diagnostic market. Some of the major companies operating in the global tissue diagnostic market are Abbott Laboratories, Inc., Agilent Technologies, Bio SB, Thermo Fisher Scientific, Sigma-Aldrich, Roche Diagnostics, Cell Signalling Technology, Inc., Danaher Corporation, Biogenex Laboratories and Life Technologies.

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