Dublin, April 04, 2024 (GLOBE NEWSWIRE) -- The "Global Tissue Diagnostics Market by Product (Consumables (Antibodies, Reagents, Tissue, Probes), Instrument (Processing System, Scanner)), Technology (ISH, IHC, Slide Staining), Disease Type (Breast Cancer, Lymphoma, Prostate Cancer) - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global tissue diagnostics market is projected to reach USD 8.4 billion by 2028 from USD 5.6 billion in 2023, at a CAGR of 8.4% during the forecast period. Market growth is driven by factors such as the rising prevalence of cancer, increasing availability of reimbursements and increasing technological advancements in tissue diagnostics are the major factors driving the growth of the market. 
The Consumables to register the largest share of the tissue diagnostics market, by product
The global tissue diagnostics market product segment is divided into Consumables and Instruments. In product segment the consumables is expected to account for the largest share of the tissue diagnostics market in 2022. Market growth is largely driven by the rise in government and private funding in life sciences and cancer research, growing R&D expenditure by leading pharma companies. Moreover, the availability of better consumables that offer efficient results and precision in diagnosis attributes to their growing demand, resulting in growth of the segment.
Immunohistochemistry tissue diagnostics segment to grow at a considerable rate among technology during the forecast period
The tissue diagnostics market is four technology segments, namely, Immunohistochemistry (IHC), In Situ Hybridization (ISH), Digital Pathology & Workflow, and Special Staining. The Immunohistochemistry technology segment is expected to account for the largest share of the tissue diagnostics market in 2022. The large share of this segment can primarily be attributed to the Rising geriatric population and growing prevalence of cancer diseases diabetes, availability of reimbursements for IHC tests, and adoption of digital pathology are driving the demand for immunohistochemistry products.
Breast Cancer segment accounted for the largest share in the tissue diagnostics market, by disease
The global tissue diagnostics market is segmented into Breast Cancer, Gastric Cancer, Lymphoma, Prostate Cancer, Non-small Cell Lung Cancer, and Other Diseases. The breast cancer segment accounted for a largest share in 2022, primarily due number of factors such as age, family history, reproductive history, the presence of dense breast tissues, a lack of physical activity, alcohol consumption, smoking, radiation exposure coupled with the increasing incidence of breast cancer such as ductal carcinoma in situ (DCIS), invasive ductal carcinoma (IDC), and inflammatory breast cancer (IBC), among others.
Asia Pacific: The fastest-growing region in the tissue diagnostics market
The global tissue diagnostics market is segmented into four major regions - North America, Europe, the Asia Pacific, and Rest of the World (RoW). The Asia Pacific region is expected to grow at the highest rate in the tissue diagnostics market during the forecast period. The high growth in the region is due to the presence of a large target population, the economic growth in the countries of this region and rising prevalence of cancer in Asian countries.
The report provides insights on the following:
- Analysis of key drivers (the rising prevalence of cancer, growing healthcare expenditure, growing demand for digital pathology, increasing healthcare expenditure, developing infrastructure for cancer diagnosis, increasing availability of reimbursements, and increasing technological advancements in tissue diagnostics are the major factors driving the growth of the market), restraints (high degree of consolidation, high cost of diagnostic imaging system), opportunities (significant opportunities in BRICS countries, growing demand for personalized medicines, increasing number of clinical trails perraining to cancer drugs, emerging economics to offer significant opportunities to companies), challenges (lack of skilled professionals, availability of refurbished products, stringent regulatory requirements, lack of infrastructure and low awareness in middle and low income countries and lack of standardization) and trends (Increasing number of reagent rental agreements, increasing usage of Al in histopathology) influencing the growth of the tissue diagnostics market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the tissue diagnostics market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the tissue diagnostics market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the tissue diagnostics market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players like F. Hoffmann-La Roche Ltd (Switzerland), Danaher Corporation (US), PHC Holdings Corporation (Japan), Agilent Technologies (US), Thermo Fisher Scientific Inc. (US), and among others in the tissue diagnostics market strategies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 254 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $5.6 Billion |
| Forecasted Market Value (USD) by 2028 | $8.4 Billion |
| Compound Annual Growth Rate | 8.4% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Tissue Diagnostics Market, by Product, 2023 vs. 2028 (USD Billion)
- Tissue Diagnostics Market, by Technology, 2023 vs. 2028 (USD Billion)
- Tissue Diagnostics Market, by Disease Type, 2023 vs. 2028 (USD Billion)
- Tissue Diagnostics Market, by End-user, 2023 vs. 2028 (USD Billion)
- Geographical Snapshot of Tissue Diagnostics Market
Premium Insights
- Tissue Diagnostics Market Overview -Rising Incidence of Cancer and Infectious Diseases to Drive Market Growth During Forecast Period
- North America: Tissue Diagnostics Market, by Product & Country (2022) - Consumables Segment Accounted for Largest Market Share in 2022
- Tissue Diagnostics Market: Geographical Snapshot - China & India to Witness Highest Growth Rate During Forecast Period
- Tissue Diagnostics Market: Regional Mix - Asia-Pacific Region is Projected to Grow at Highest CAGR During Forecast Period
- Tissue Diagnostics Market: Developed Countries vs. Emerging Economies - Emerging Economies to Register Higher Growth Rate During Forecast Period
Market Dynamics
Drivers
- Rising Incidence of Cancer and Infectious Diseases
- Growing Demand for Digital Pathology
- Increasing Healthcare Expenditure
- Growing Availability of Reimbursements
- Rising Establishment of Private Diagnostics Centers
Restraints
- High Cost of Tissue Diagnostic Systems
- Stringent Regulatory Requirements
Opportunities
- High Growth Potential of Emerging Economies
- Growing Preference for Personalized Medicines
- Increasing Number of Clinical Trials for Cancer Therapeutics
Challenges
- Shortage of Skilled Professionals
- Availability of Refurbished Products
- Inadequate Standardization for TDX
Industry Trends
- Increasing Number of Reagent Rental Agreements
- Growing Usage of AI in Histopathology
Companies Profiled
- F. Hoffmann-La Roche Ltd.
- Danaher Corporation
- Phc Holdings Corporation
- Thermo Fisher Scientific Inc.
- Abbott
- Agilent Technologies, Inc.
- Merck KGaA
- Sakura Finetek Japan Co. Ltd.
- Abcam PLC
- Becton, Dickinson and Company (Bd)
- Bio Sb
- Biogenex
- Cell Signaling Technology, Inc.
- Histo-Line Laboratories
- Slee Medical GmbH
- Cellpath Ltd.
- Amos Scientific Pty Ltd.
- Jinhua Yidi Medical Appliance Co. Ltd.
- Medite Medical GmbH
- Diapath S.P.A.
- Kfbio Konfoong Bioinformation Tech Co. Ltd
- Diagnostic Biosystems Inc.
- 3Dhistech Ltd.
- Rwd Life Science Co. Ltd.
- Dakewe
- Sysmex Corporation
- Enzo Life Sciences, Inc.
- Biocare Medical, LLC.
- Milestone Medical
- Bio-Optica Milano Spa
For more information about this report visit https://www.researchandmarkets.com/r/5tk3de
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