This industry is experiencing significant growth due to the rising incidence of cancer, developing infrastructure for cancer diagnosis, recommendation of cancer screening, availability of reimbursements, and increasing healthcare expenditure.
This is attributed primarily to their requirement in large numbers, cost-effectiveness, and ease of use. The increasing number of reagent rental agreements is also one of the major factors to drive the growth of the consumables market globally.
The tissue diagnostic market is segmented into immunohistochemistry, in situ hybridization, digital pathology and workflow, and special staining.
The immunohistochemistry segment is estimated to register the highest CAGR during the forecast period. This can primarily be attributed to the increasing prevalence of chronic diseases across the globe, where this technology is mostly used in tissue diagnostics.
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The tissue diagnostic market has been analyzed for North America, Europe, the Asia Pacific, Latin America, and Middle East Africa. In 2019, North America held the largest share of the market, followed by Europe. Easy accessibility to advanced technologies, government initiatives for screening cancer patients, favorable reimbursement scenarios for pathology diagnostic tests, increasing healthcare expenditure, and high-quality infrastructure for hospitals and clinical laboratories in this region are the major factors driving the growth of the tissue diagnostic market in North America.
Key Market Players
The prominent players operating in the tissue diagnostic market include Roche (Switzerland), Danaher (US), Thermo Fisher Scientific (US), Abbott (US), Agilent Technologies (US), ABCAM (UK), Merck KGAA (Germany), BD (US), Hologic (US), Bio Rad (US), Biomeriux (France), Sakura Fientek Japan (Japan), BioSB (US), Biogenex (US), Cell Signaling Technology (US), Histoline Laboratories (Italy), Slee Medical GMBH (Germany), Amos Scientific PTY Ltd (Australia), Jinhua Yidi Medical Appliance Co.Ltd (China), Medite GMBH (Germany), Cellpath Ltd(UK), and Dipath S.P.A. (Italy).
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Market Research Developments
In 2019, Roche launched the VENTANA PD-L1 (SP142) Assay in CE (Conformité Européenne) markets.
In 2019, Hologic received CE approval for ThinPrep Genesis Processor.
In 2019, Roche entered into an agreement with GE Healthcare to develop an integrated digital diagnostics platform to improve oncology and critical care treatment.