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Tissue Diagnostic Market Trends, Demand, Insights 2024-2033
Tissue Diagnostic Market Trends
As per the report, the tissue diagnostic market size has grown rapidly in recent years. It will grow from $5.27 billion in 2023 to $5.92 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The tissue diagnostic market size is expected to see rapid growth in the next few years. It will grow to $9.48 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%.
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Surging Cancer Incidence Drives Expansion Of The Tissue Diagnostic Market
The rising incidence of cancer will propel the growth of the tissue diagnostic market during the forecast period. Cancer begins when genetic changes interfere, and cells start to grow uncontrollably and destroy body tissue and form a mass called a tumor. A tumor can be cancerous or benign. Cancer can be caused due to various reasons such as genetic mutations, cancer-causing chemicals (carcinogens), smoking, obesity, radiation, hormones, and others. As the instances of occurring cancer increase, there will be a significant need for diagnostic procedures such as tissue diagnostics help in determining the disease state. For instance, according to the US voluntary health organization dedicated to eliminating cancer, the American Cancer Society, in the USA, there were expected to be 1.8 million new cancer cases identified and 606,520 cancer deaths in 2020, and the number was expected to increase to 1.9 million new cancer cases diagnosed and 608,570 cancer deaths in 2021. Therefore, the rising incidence of cancer drives the growth of the tissue diagnostic market.
Innovative Products Transform Tissue Diagnostic Market By Revolutionizing Precision Therapy In Lung Cancer Treatment
Product innovation is a key trend gaining popularity in the tissue diagnostic market. Product innovations include the introduction of innovative products and solutions that collect multiple sample types, test multiple samples simultaneously, automate lab operations, and make them accessible to everyone. Key players are focused on developing and offering these automated tissue diagnostic systems to gain a competitive edge in the market and increase revenue. For instance, in May 2021, QIAGEN N.V., a Netherlands-based provider of sample and assay technologies for molecular diagnostics, introduced the first FDA-approved tissue companion diagnostic, the Therascreen KRAS Kit detects the KRAS G12C mutation in NSCLC tumors, expanding precision therapy options in lung cancer. It is the first companion diagnostic test to receive premarket approval from the United States Food and Drug Administration (FDA) for use in identifying the KRAS G12C mutation in NSCLC tumor tissue samples.
The tissue diagnostic market covered in this report is segmented -
1) By Product: Consumables, Antibodies, Kits, Reagents, Probes, Instruments, Slide Staining System, Scanner, Tissue Processing system
2) By Technology: Immunohistochemistry (IHC), In Situ Hybridization (ISH), Digital Pathology And Workflow Management, Special Staining
3) By Disease: Breast Cancer, Gastric Cancer, Lymphoma, Prostate Cancer, Non-Small Cell Lung Cancer (NSCLC)
4) By End User: Hospitals, Research Laboratories, Pharmaceutical Companies, Contract Research Organizations
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Major companies operating in the tissue diagnostic market include F. Hoffmann-La Roche Ltd., Danaher Corporation, Thermo Fisher Scientific Inc., Abbott Laboratories, Agilent Technologies Inc., Merck KGaA, BioGenex Laboratories, Sakura Finetek Co. Ltd., Philips Healthcare NV, Bio-Rad Laboratories, Ventana Medical Systems Inc., Hologic Inc., Becton Dickinson and Company, Sysmex Corporation, Cell Signaling Technology Inc., Enzo Life Sciences Inc., Epitomics Inc., Fluidigm Corporation, GE Healthcare Technologies Inc., Genomic Health Inc., Illumina Inc., Leica Microsystems GmbH, Menarini Diagnostics S.r.l, Myriad Genetics Inc., NanoString Technologies Inc., PerkinElmer Inc., QIAGEN N.V., Siemens Healthineers AG, Zeiss Group AG, CytomX Therapeutics Inc.
Contents of the report:
1. Executive Summary
2. Tissue Diagnostic Market Report Structure
3. Tissue Diagnostic Market Trends And Strategies
4. Tissue Diagnostic Market - Macro Economic Scenario
5. Tissue Diagnostic Market Size And Growth
…..
27. Tissue Diagnostic Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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