Tissue Diagnostics Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe
global tissue diagnostics market size is expected to
reach USD 6.03 billion by 2025 at a 6.6% CAGR during the forecast period,
according to a new report by Grand View Research, Inc. Major developments
pertaining to consolidation, automation, and efficiency analysis to streamline
tissue-based disease screening protocols and cashflows have driven this market.
Furthermore, collaborations for development of companion diagnostics are
anticipated to impact adoption rate of technologies that are employed in the
tissue diagnostics arena.
Need for
robust diagnostic solutions as a consequence of rising cancer burden has pronounced
demand for research initiatives and simultaneous product launches, thus driving
the market. For example, in March 2017, California-based OptraScan began
offering a subscription-based digital pathology service for research purposes,
mainly for smaller labs that are unable to pay for high-end scanners.
In addition,
implementation of sequencing technology in tissue-based tests would
significantly impact the progress rate of this market. Major leaders like Roche
are offering sequencing-based tissue diagnostics products, thus aiding market
growth.
Further key
findings from the report suggest:
- By technology, immunohistochemistry
(IHC) dominated the market in terms of revenue owing to its
widespread usage across laboratories for examining tissues for early
disease diagnosis and prediction of therapy response in cancer patients
- Digital
pathology and workflow is expected to grow at the fastest rate owing to
rising investment in infrastructure and onsite server for digitizing images.
Furthermore, shortage of pathologists has spurred automation in disease
testing, thereby driving the segment
- High incidence
of breast cancer, coupled with presence of several products specifically
designed for detection of this type of cancer, has resulted in breast
cancer accounting for the largest share by application. Advancements in
genomics for comprehensive understanding of the genetic markup of a tumor
are also anticipated to contribute to segment growth
- By end use,
hospitals have led the overall market owing to high hospitalization rate
and subsequent adoption of these assays
- North America
captured a major revenue share owing to presence of a well-established
regulatory framework for diagnostics. Furthermore, growing collaboration
between diagnostic and pharmaceutical companies in U.S. is driving the
regional market
- F. Hoffmann-La
Roche Ltd, Abbott, Siemens Healthineers, and QIAGEN are some of the key
participants in the market. These companies have been investing
significantly in novel product development and acquisition of small payers
in order to maintain their revenue share.
Access full
research report on global tissue diagnostics market:
www.grandviewresearch.com/industry-analysis/tissue-diagnostics-market
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Created on Sep 16th 2019 07:01. Viewed 435 times.