The growing incidence of cancer along with a rapidly aging population, technological advancements in tissue diagnostics techniques, and increasing healthcare expenditure are key factors driving the growth of the tissue diagnostics market.
The tissue diagnostics market is expected to reach USD 5.14 Billion by 2022 from USD 3.44 Billion in 2016 at a CAGR of 6.9%.
+ Market Dynamics
+ Rising Incidence of Cancer
+ Growing Healthcare Expenditure
+ Improving Infrastructure for Cancer Diagnosis
+ Technological Advancements in Tissue Diagnostics
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“In 2017, consumables formed the largest segment of the market, by product”
Based on product, the tissue diagnostics market is segmented primarily into consumables and instruments, of which consumables held the leading share in 2017. Their wide use in processing tissue samples and their repeated consumption in tissue diagnostics has ensured their dominance in the market. Instruments, on the other hand, are typically one-time purchases and thus hold a smaller market share.
“Research laboratories to grow at the highest rate in the end-user market”
The key end users of tissue diagnostics instruments and consumables are hospitals, pharmaceutical companies, research laboratories, contract research organizations, and other end users. Research laboratories form the fastest-growing end-user segment. The growth of this segmental market is fueled by rising research focusing on the development of complex and specialized tests.
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