Tissue Diagnostic Global Market Report 2024

Tissue diagnostic refers to a medical procedure that uses instruments to remove and stain tissue that must be sent to a laboratory or pathology department for documentation of what was excised for patient care (for tissue diagnostics). This offers measurements and descriptions, including any abnormalities, and an interpretation (or diagnosis) of health or disease status, under applicable legislation.

The main types of products in tissue diagnostic are consumables, antibodies, kits, reagents, probes, instrument, slide staining system, scanner and tissue processing system. The antibodies are used for the detection of infections, recognition of allergies, and the measurement of hormones and other biological markers in the blood in tissue diagnostics. The technologies used in tissue diagnostic are immunohistochemistry (IHC), in situ hybridization (ISH), digital pathology and workflow management and special staining to detect diseases such as breast cancer, gastric cancer, lymphoma, prostate cancer and non-small cell lung cancer (NSCLC). Tissue diagnostic is mostly used in hospitals, research laboratories, pharmaceutical companies, and contract research organizations.

The tissue diagnostic market research report is one of a series of new reports that provides tissue diagnostic market statistics, including tissue diagnostic industry global market size, regional shares, competitors with a tissue diagnostic market share, detailed tissue diagnostic market segments, market trends and opportunities, and any further data you may need to thrive in the tissue diagnostic industry. This tissue diagnostic market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The tissue diagnostic market size has grown rapidly in recent years. It will grow from $5.27 billion in 2023 to $5.92 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth observed during the historical period can be attributed to several factors, including an aging population, a higher prevalence of cancer, technological advancements in diagnostic procedures, increased awareness of diseases, and improvements in pathology workflow efficiency.

The tissue diagnostic market size is expected to see rapid growth in the next few years. It will grow to $9.48 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The anticipated growth in the forecast period can be attributed to the expansion of personalized medicine, the increasing prominence of liquid biopsies, the adoption of artificial intelligence (AI) and machine learning in diagnostics, the expansion of telepathology services, and the rise of minimally invasive techniques. Key trends expected during this period encompass the utilization of digital pathology, the integration of AI in diagnostics, the growth of telepathology services, the adoption of multiplex staining and imaging techniques, and the integration of genomic data into diagnostic processes.

The tissue diagnostic market is poised for growth, driven by the increasing incidence of cancer. Genetic changes leading to uncontrolled cell growth and tumor formation are at the root of cancer. As cancer cases rise, the demand for diagnostic procedures like tissue diagnostics becomes crucial for determining disease states. For instance, the American Cancer Society reported an expected increase in new cancer cases from 1.8 million in 2020 to 1.9 million in 2021 in the USA, emphasizing the escalating need for tissue diagnostics. This upward trend in cancer cases is a primary driver propelling the growth of the tissue diagnostic market.

Another factor contributing to the expansion of the tissue diagnostic market is the rise in healthcare expenditure. Healthcare expenditure encompasses the total spending on healthcare services, treatments, and products. It facilitates the development, accessibility, and utilization of advanced diagnostic technologies and medical infrastructure. In Europe, for example, approximately 11% of gross domestic product (GDP) is allocated to healthcare, with 7.6% attributed to medical technologies. This financial commitment to healthcare expenditure, averaging $346.08 per capita, plays a significant role in fueling the growth of the tissue diagnostic market.

A notable trend in the tissue diagnostic market is the emphasis on product innovation. Companies are introducing innovative products and solutions, such as automated tissue diagnostic systems, capable of collecting and testing multiple samples simultaneously. QIAGEN N.V., for instance, launched the Therascreen KRAS Kit, the first FDA-approved tissue companion diagnostic, expanding precision therapy options in lung cancer. This focus on product innovation enhances competitiveness and revenue for key players in the tissue diagnostic market.

The technological advancements, particularly the integration of artificial intelligence (AI), are influencing the tissue diagnostic market. AI is employed to analyze medical images and pathological data, enhancing the accuracy and efficiency of disease detection and classification. Qritive introduced the Qai Prostate, an AI-powered prostate cancer detection tool, providing pathologists with advanced capabilities for detecting and classifying malignant and benign tumor locations in biopsy tissue samples. This integration of AI represents a strategic move to improve precision in cancer diagnosis and treatment within the tissue diagnostic market.

In February 2022, Labcorp's acquisition of Personal Genome Diagnostics (PGDx) for $575 million stands out. This move strengthens Labcorp's next-generation sequencing-based genomic profiling capabilities and enhances existing liquid biopsy capabilities, reflecting the industry's commitment to advancing cancer genomics.

Major companies operating in the tissue diagnostic market include F. Hoffmann-La Roche Ltd., Danaher Corporation, Thermo Fisher Scientific Inc., Abbott Laboratories, Agilent Technologies Inc., Merck KGaA, BioGenex Laboratories, Sakura Finetek Co. Ltd., Philips Healthcare NV, Bio-Rad Laboratories, Ventana Medical Systems Inc., Hologic Inc., Becton Dickinson and Company, Sysmex Corporation, Cell Signaling Technology Inc., Enzo Life Sciences Inc., Epitomics Inc., Fluidigm Corporation, GE Healthcare Technologies Inc., Genomic Health Inc., Illumina Inc., Leica Microsystems GmbH, Menarini Diagnostics S.r.l, Myriad Genetics Inc., NanoString Technologies Inc., PerkinElmer Inc., QIAGEN N.V., Siemens Healthineers AG, Zeiss Group AG, CytomX Therapeutics Inc.

North America was the largest region in the tissue diagnostic market in 2023. The regions covered in the global tissue diagnostic industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the tissue diagnostic market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The tissue diagnostic market includes revenues earned by entities by consumables and instruments. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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