Press release
Cancer Tissue Diagnostics Market Size to Hit US$ 3,419.61 million by 2027
The cancer tissue diagnostics market is highly competitive in nature with considerable number of players, having a high level of consolidation overall revenue share. Most of the companies operating in the cancer tissue diagnostics market are present across the globe and have wide distribution and sales network through partnerships or authorized dealers.The Cancer Tissue Diagnostics in healthcare market was valued at US$ 2,025.41 million in 2018 and it is projected to reach US$ 3,419.61 million by 2027; it is expected to grow at a CAGR of 6.2% from 2019 to 2027.
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The most notable market participants are F. Hoffmann-La Roche Ltd, Danaher Corporation, Thermo Fisher Scientific Inc., Bio Rad Laboratories Inc., Abbott, Enzo Life Sciences, Inc., Agilent Technologies, Inc., Cancer Genetics Inc., Merck KGaA (Sigma-Aldrich Co. LLC), and Abcam plc. occupying a considerable share of the market owing to their offerings to the market.
Market leaders are involved in product launches of new assays with better efficiency and treatment outcomes. For instance, in May 2019, Roche launched the VENTANA ROS1 (SP384) Rabbit Monoclonal Primary Antibody, an in vitro diagnostic ROS1 immunohistochemistry (IHC) assay. The launch has enabled the company to offer better innovative products in the market.
Many well-known as well as small local companies are present in the market to provide diversified products to its customers. The larger firms are adopting the strategy of acquiring small firms to enhance its product portfolio and expand its footprint in different geographies. Additionally various companies are also undergoing other strategic alliances such as acquisitions and others to garner their significance and remain competitive in the market.
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