Tissue Diagnostics Market worth $8.4 billion by 2028 | F. Hoffmann-La Roche Ltd (Switzerland), Danaher Corporation (US), PHC Holdings Corporation (Japan)

Tissue Diagnostics Market in terms of revenue was estimated to be worth $5.6 billion in 2023 and is poised to reach $8.4 billion by 2028, growing at a CAGR of 8.4% from 2023 to 2028 according to a new report by MarketsandMarkets™. The tissue diagnostics market is driven by the growing healthcare expenditure, and growing demand for digital pathology are the major factors driving the growth of the market. Growth in emerging countries and development of condition specific biomarkers and tests are anticipated to offer lucrative growth opportunities for the tissue diagnostics market.

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In 2022, the Antibodies in the consumables segment is holds the largest share of the tissue diagnostics market, by product segment.

The global tissue diagnostics market is divided into consumables (Antibodies, Kits, Reagents, and Probes) and Instruments (Slide-staining Systems, Scanners, Tissue-processing Systems, and Other Instruments [automated cover slippers, microtomes, embedding systems, paraffin dispensers, and slide labelers]). This dominance is anticipated to persist, solidifying antibodies as a leading driver in the tissue diagnostics market, part of a segment that encompasses kits, reagents, and probes. The increased usage of consumables like kits and reagents contributes significantly to the rising demand for these products in cancer diagnosis. These kits play a dual role, aiding not only in diagnosing cancers but also in facilitating research. Hence, the increasing utilization of antibodies and kits in diagnostic and research capacities significantly fuels the expansion of the reagents and kits product segment.

The hospitals segment accounted for the largest share of the tissue market, by end user, in 2022.

The hospitals segment is expected to dominate the global tissue diagnostics market in 2022. The substantial segment share stems from several factors such as surge in hospital visits by patients, an uptick in in-house diagnostic procedures within hospital settings, heightened awareness surrounding early diagnosis, and the presence of reimbursements in developed markets for clinical tests conducted within hospitals.

North America is the largest regional market for tissue diagnostic market.

The global tissue diagnostics market has been segmented into-North America, Europe, the Asia Pacific, and Rest of the World. In 2022, North America dominated the global tissue diagnostics market in 2022. The Increasing healthcare expenditure, and high-quality infrastructure for hospitals and clinical laboratories are the key factors driving market growth in the US.

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Tissue Diagnostics Market Dynamics:

Drivers:

Growing demand for digital pathology
Restraints:

Stringent Regulatory requirement
Opportunities:

Significant opportunities in BRICS Countries
Challenge:

Lack of Infrastructure and low awareness in middle- and low-income countries
Key Market Players of Tissue Diagnostics Industry:

The top players in this market are F. Hoffmann-La Roche (Switzerland), Danaher Corporation (US), and PHC Holdings Corporation (Japan). These players hold leading positions in the market owing to their broad product offerings in the tissue diagnostics market. These mentioned players have undertaken various organic and inorganic growth strategies such as product launches and approvals, collaborations, acquisitions, and agreements to retain their position in the market.

The break-up of the profile of primary participants in the tissue diagnostics market:

By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
By Designation: C-level - 27%, D-level - 18%, and Others - 55%
By Region: North America - 51%, Europe - 21%, Asia Pacific - 18%, and Rest of the World- 10%

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