Tissue diagnosis holds utmost importance in the diagnostic proceedings for cancer and such other diseases. This method helps determining the prognosis and stage of the disease, both of which play a crucial role in arranging the proper course of treatment and recovery from the disease. Strong growth in the instances of cancer and technological advancements are two of the most prominent drivers for the global tissue diagnostics market. The industry is gaining strength from the growing adoption of technology and rising awareness towards healthcare, especially in the emerging markets are expected to drive business in the industry.
Segments in Tissue-Based Diagnostics Industry
Market researchers categorize the global tissue diagnostics market on the basis of the technologies, diseases, end-users and geographic regions. Based on the types of technologies, the industry is segmented into in-situ hybridization, immunohistochemistry, special staining and digital pathology and workflow. The types of diseases analyzed by the researchers include various types of cancers, including lymphoma, breast, and gastric, prostate, and non-small-cell lung cancer. End-user segments analyzed by the researchers include pharmaceutical companies, research institutes, contract research organizations, hospitals and such other institutes. Geographically, the tissue-based cancer diagnostic industry is divided into Europe, Americas, Japan, BRICs and the rest of the world.
Rising instances of cancer is considered to be the primary driver for the tissue diagnostics market. Apart from that, other supporting driving factors include growth in personalized medicine usage, growth in the number of aging population and technological advancements in the overall industry. Growth in the global IVD market is also expected to create better business opportunities for this industry. As far as the restraints are concerned, the market growth is expected to be hindered by stringent regulatory framework and lack of budget, which is might create hindrance in the research and development activities in the global industry.
Despite all the hindrances, growing demand, research activities and growth in cancer cases are set to help the market maintain a healthy CAGR. According to the industry analysis and in-depth study of the segmentation, researchers are expecting the tissue diagnostics market to grow at a healthy CAGR of over 6.9% from 2013 to 2018. At the estimated growth rate, the market is set to reach past $3,924.01 million by the year 2018. The disease segment is expected to be dominated by breast cancer. The technologies segment on the other hand is expected to be dominated by immunohistochemistry. The hospitals segment is set to dominate the end-user segments. Geographically, the tissue based diagnostics market is expected to be dominated by United States of America.