The growth of this market is mainly due to the rising incidences of cancer, technological innovations in the area of tissue diagnostics, and increasing healthcare expenditure.
What the Market Looks Like?
Predicted to grow at a CAGR of 6.9% during the forecast period, the global Tissue Diagnostics market is estimated to reach USD 5.1 billion by the end of 2022.
“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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Geographical growth scenario of Tissue Diagnostics Market
The tissue diagnostics market is segmented into four major regions—North America, Europe, Asia, and the Rest of the World (RoW). North America was the largest market for tissue diagnostics in 2017, due to several factors such as the strong presence of market players in the region, the growing geriatric population and chronic disease incidence, and easy access to healthcare services.
Leading market players
The prominent players in the Tissue Diagnostics market include F. Hoffman-La Roche (Switzerland), Danaher (US), Thermo Fisher Scientific (US), Abbott Laboratories (US), Agilent Technologies (US), Merck (Germany), Sakura Finetek Japan, Abcam (UK), Becton, Dickinson and Company (US), and QIAGEN (Netherlands).
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