Tissue Diagnostic Market Size, Emerging Trends, Growth Rate, Business Opportunities And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Tissue Diagnostic Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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 growth in the historic period can be attributed to aging population, cancer prevalence, technological advancements, increased disease awareness, pathology workflow efficiency..

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%. The growth in the forecast period can be attributed to personalized medicine growth, rise of liquid biopsies, ai and machine learning adoption, telepathology expansion, minimally invasive techniques. Major trends in the forecast period include digital pathology, artificial intelligence (ai),telepathology services, multiplex staining and imaging, integration of genomic data..

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Market Drivers and Trends:

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.

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.

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Major Key Players of the Market:

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.

Tissue Diagnostic Market 2024 Key Insights:

• 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%.
• Surging Cancer Incidence Drives Expansion Of The Tissue Diagnostic Market
• Innovative Products Transform Tissue Diagnostic Market By Revolutionizing Precision Therapy In Lung Cancer Treatment
• North America was the largest region in the tissue diagnostic market in 2023

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