Tissue Diagnostics Market Worth $8.4 Billion | MarketsandMarkets

CHICAGO, Jan. 8, 2024 /PRNewswire/ -- Tissue Diagnostics Market in terms of revenue was estimated to be worth $5.6 billion in 2023 and is poised to reach $8.4 billion by 2028, growing at a CAGR of 8.4% from 2023 to 2028 according to a new report by MarketsandMarkets(TM). The tissue diagnostics market is driven by the growing healthcare expenditure, and growing demand for digital pathology are the major factors driving the growth of the market. Growth in emerging countries and development of condition specific biomarkers and tests are anticipated to offer lucrative growth opportunities for the tissue diagnostics market.


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Tissue Diagnostics Market Scope:

                 Report Coverage 

     Market Revenue in 2023                                                                                                 
            $5.6 billion

      Estimated Value by 2028                                                                                                
            $8.4 billion

     Growth Rate                                                                                                 Poised to grow at a CAGR of 8.4%

      Market Size Available for  

     Forecast Period            

     Forecast Units             
     Value (USD Billion)

     Report Coverage            
     Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

     Segments Covered           
     Product, Technology, Disease Type, End User, and Region

     Geographies Covered          North America (US, Canada), Europe (Germany, France, UK, Spain, Italy, and RoE), APAC (China, India, Japan, and
                                    the RoAPAC), and Rest of the World (Latin America, and Middle East & Africa)

     Report Highlights          
     Updated financial information / product portfolio of players

      Key Market Opportunities   
     Significant opportunities in BRICS Countries

     Key Market Drivers         
     Growing demand for digital pathology

In 2022, the Antibodies in the consumables segment is holds the largest share of the tissue diagnostics market, by product segment.

The global tissue diagnostics market is divided into consumables (Antibodies, Kits, Reagents, and Probes) and Instruments (Slide-staining Systems, Scanners, Tissue-processing Systems, and Other Instruments [automated cover slippers, microtomes, embedding systems, paraffin dispensers, and slide labelers]). This dominance is anticipated to persist, solidifying antibodies as a leading driver in the tissue diagnostics market, part of a segment that encompasses kits, reagents, and probes. The increased usage of consumables like kits and reagents contributes significantly to the rising demand for these products in cancer diagnosis. These kits play a dual role, aiding not only in diagnosing cancers but also in facilitating research. Hence, the increasing utilization of antibodies and kits in diagnostic and research capacities significantly fuels the expansion of the reagents and kits product segment.

The hospitals segment accounted for the largest share of the tissue market, by end user, in 2022.

The hospitals segment is expected to dominate the global tissue diagnostics market in 2022. The substantial segment share stems from several factors such as surge in hospital visits by patients, an uptick in in-house diagnostic procedures within hospital settings, heightened awareness surrounding early diagnosis, and the presence of reimbursements in developed markets for clinical tests conducted within hospitals.

North America is the largest regional market for tissue diagnostic market.

The global tissue diagnostics market has been segmented into--North America, Europe, the Asia Pacific, and Rest of the World. In 2022, North America dominated the global tissue diagnostics market in 2022. The Increasing healthcare expenditure, and high-quality infrastructure for hospitals and clinical laboratories are the key factors driving market growth in the US.

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Tissue Diagnostics Market Dynamics:


    1. Growing demand for digital pathology


    1. Stringent Regulatory requirement


    1. Significant opportunities in BRICS Countries


    1. Lack of Infrastructure and low awareness in middle- and low-income

Key Market Players of Tissue Diagnostics Industry:

The top players in this market are F. Hoffmann-La Roche (Switzerland), Danaher Corporation (US), and PHC Holdings Corporation (Japan). These players hold leading positions in the market owing to their broad product offerings in the tissue diagnostics market. These mentioned players have undertaken various organic and inorganic growth strategies such as product launches and approvals, collaborations, acquisitions, and agreements to retain their position in the market.

The break-up of the profile of primary participants in the tissue diagnostics market:

    --  By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
    --  By Designation: C-level - 27%, D-level - 18%, and Others - 55%
    --  By Region: North America - 51%, Europe - 21%, Asia Pacific - 18%, and
        Rest of the World- 10%

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Tissue Diagnostics Market Recent Developments:

    --  In April 2023, Leica Biosystems received FDA clearance for BOND MMR
        Antibody Panel, for detection of colorectal cancer.
    --  In April 2023, Leica Biosystems launched its BOND-PRIME an advanced
        staining solution for increasing diagnostic productivity in the lab
    --  In February 2023, F. Hoffman-La Roche Ltd launched its IDH1 R132H
        (MRQ-67) Rabbit Monoclonal Antibody and the ATRX Rabbit Polyclonal
        Antibody for use in the BenchMark series of instruments for the
        detection of brain cancer.
    --  In October 2022, F. Hoffman-La Roche Ltd received FDA approval for its
        PATHWAY anti-HER2/neu (4B5) Rabbit Monoclonal Primary Antibody use as a
        companion diagnostic test to identify metastatic breast cancer patients
        with low HER2 expression.
    --  In August 2022, F. Hoffman-La Roche Ltd (Switzerland) received FDA
        approval its for label expansion for the VENTANA MMR RxDx Panel.

Tissue Diagnostics Market - Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall tissue diagnostics market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

    --  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.

Related Reports:

Molecular Diagnostics Market - Global Forecasts to 2028

Immunohistochemistry (IHC) Market - Global Forecasts to 2028

In Vitro Diagnostics Market - Global Forecasts to 2027

Slide Stainer Market - Global Forecasts to 2027

In Situ Hybridization Market - Global Forecasts to 2027

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