Global Tissue Diagnostics Market Trajectory & Analytics to 2024 - Developed Regions Lead, Developing Economies to Spearhead Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Tissue Diagnostics - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Tissue Diagnostics Market to Reach $4.8 Billion by 2024
The global market for Tissue Diagnostics is projected to reach US$4.8 Billion by 2024, registering a compounded annual growth rate (CAGR) of 5.6% over the analysis period.
Tissue diagnostics is the process of testing and analysis of tissue samples by way of capturing diseases' biological context. The tests are mainly used for detecting medical conditions such as inflammatory disorders and cancers for revealing the right type of disease and also its malignancy level, which is essential for determining the right treatment options.
United States represents the largest regional market for Tissue Diagnostics, accounting for an estimated 34.9% share of the global total. The market is projected to reach US$1.7 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 8.7% over the analysis period.
Growth in the global market is set to be fueled by increase in cancer incidences, aging population and increasing healthcare spending by countries. General increase in diagnostic test numbers, technology advancements and increasing pharma industry investments are the other important factors behind strong growth for the global market for tissue diagnostics. Tissue diagnostics is emerging as one of the important tools for cancer management. Tissue diagnosis for cancer detection is carried out through core biopsy, fine needle aspiration cytology and open biopsy.
North America represents a key regional market, led by factors such as higher cancer incidence rate, growth of personalized medicine, increased adoption of technologically more advanced tissue diagnostics, geriatric population, and high number of collaborations between biotech firms and pharmaceutical companies in the region.
Growth in the Asia-Pacific region is attributable to the constantly rising need for enhanced testing, increased demand for improved facilities for patient care, and favorable regulations.
The market for Immunohistochemistry tissue diagnostic tests is forecast to dominate market share over the analysis period. IHC is applied widely in development of diagnostics as well as therapeutics for cancers and also in clinical R&D. The test is being increasingly preferred to traditional enzyme-staining techniques.
Continuous innovations also create strong growth opportunities for the market. Technical advances in IHC technique have the potential to harness the wealth of contextual information contained in tissue samples. To meet the demand for precise and accurate data, next-generation IHC techniques improve the accuracy, precision, and analytical features to expedite research and improve patient care.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Tissue Diagnostics Market: Prelude
- Immunohistochemistry Emerges as the Major Tissue Diagnostic Test
- Breast Cancer Leads the Application Market for Tissue Diagnostics
- Hospitals Represent the Leading End-Use Segment
- Developed Regions Lead, Developing Economies to Spearhead Growth
- Impact of COVID-19 on Healthcare & Pharmaceutical Industries
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 40 Featured)
- Abbott Laboratories
- Abcam plc
- Agilent Technologies
- Becton, Dickinson and Company
- Bio SB
- Bio-Genex Laboratories
- Cell Signaling Technology, Inc.
- F. Hoffmann-La Roche Ltd
- Leica Biosystems Nussloch GmbH
- Merck KGaA
- QIAGEN N.V.
- Sakura Finetek Japan Co., Ltd.
- Thermo Fisher Scientific Inc.
3. MARKET TRENDS & DRIVERS
- Rising Cancer Incidence Worldwide Spurs Demand for Tissue Diagnostics
- Aging Population and Changing Lifestyles Drive Cancer Incidence, Fueling Prospects for Tissue Diagnostics Market
- Increasing Healthcare Spending Levels Augur Well for the Market
- Growing Significance of Personalized Medicine: An Opportunity for Tissue Diagnostics Market
- Liquid Biopsies Grow in Value as a Diagnostic Tool Supporting Therapy Decisions in NSCLCs
- Sustained Advancements in Tissue Diagnostics Space Fuel Market Prospects
- Market Poised to Benefit from Digitalization of Tissue Diagnostic Techniques & Automated Tissue Diagnostic Systems
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/bc5wyu
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900