Tissue Diagnostics Market Was Valued at USD 19,907.1 million in 2021 Owing to Increased Prevalence of Cancer

According to Precision Business Insights (PBI), the latest report the global tissue diagnostics market is expected to be worth USD 21,798.2 million in 2022, growing at a 9.5% CAGR from 2022 to 2028. The global tissue diagnostics market is segmented into the following types By Immunohistochemistry (Instruments and Consumables), By In-Situ Hybridization (Instruments, Consumables, and Software), By Digital Pathology (Digital Pathology and Workflow, Whole Slide Imagining, Image Analysis Informatics, and Information Management System Storage & Communication), By Anatomic Pathology (Instruments and Consumables) and Geography (North America, Europe, Asia-Pacific, Latin America, and MEA) Forecast to 2028. Key players' profiles in the tissue diagnostics market report are Enzo Life Sciences, Agilent technologies, F. Hoffmann-La Roche Ltd, QIAGEN, Bio SB, Abbott., Merck KGaA, Darmstadt, Cell Signalling Technology, Inc., and Becton, Dickinson, and Company. The factors that are boosting the growth of the tissue diagnostics market are increasing incidences of cancer, developing infrastructure for cancer diagnosis, availability of reimbursement policies, expanding healthcare expenditure, and recommendation of cancer screening. The pathology industry has started focusing on anatomic pathology due to industry fragmentation, high skilled nature of anatomic pathology services, and substantial historical growth in demand for anatomic pathology services despite payment cuts. This provides an opportunity for manufacturers of anatomic pathology solutions to invest in independent pathology laboratories because demand for pathology services.

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Anatomic Pathology Segment Dominates the Tissue Diagnostics Market
The anatomic pathology segment is expected to contribute the highest revenue share of 75.4 percent in the tissue diagnostics market in 2020, owing to the increasing demand for anatomic pathology labs and advanced technologies. Furthermore, a growing number of hospitals are offering laboratory outreach programs, which is projected to propel the anatomic pathology market forward.

North America Leads Tissue Diagnostics Market
Due to easy access to modern technology, laboratory work, government initiatives, and increased healthcare expenditure, North America had the greatest revenue share in the global tissue diagnostics market in 2021, accounting for USD 10,376.3 Mn. Additionally, the increased frequency of cancer among the older population fueled the expansion of the tissue diagnostics market in North America. Asia Pacific is anticipated to grow with a 10.2% CAGR over the forecast period to reach USD 6,183.2 Mn.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global tissue diagnostics market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In August 2021, QIAGEN and OncXerna enter into a global master agreement to advance the development of the Xerna™ TME panel as a potential Next Generation Sequencing (NGS) companion diagnostic for OncXerna's Navicixizumab. Agreements include a non-exclusive license for QIAGEN to the OncXerna Xerna™ TME panel. The agreements broaden QIAGEN's NGS companion diagnostics capabilities in immuno- oncology clinical development programs. In August 2021, On August 30, 2021, the Company acquired Aldevron, L.L.C. for a cash purchase price of approximately $9.6 billion. Aldevron manufactures high-quality plasmid DNA, mRNA, and proteins, serving biotechnology and pharmaceutical customers across research, clinical and commercial applications, and is now part of the company's Life Sciences segment

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The tissue diagnostics market detailed segmentation:
Based on the Immunohistochemistry, the market is segmented into the following:
• Instruments
• Consumables

Based on the In-Situ Hybridization, the market is segmented into the following:
• Instruments
• Consumables
• Software

Based on the Digital Pathology, the market is segmented into the following:
• Digital Pathology and Workflow
• Whole Slide Imagining
• Image Analysis Informatics
• Information Management System Storage & Communication

Based on the Anatomic Pathology, the market is segmented into the following:
• Instruments
• Consumables
• Probes & Kits

Based on the geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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