NEW YORK, Feb. 13, 2019 /PRNewswire/ --
Tissue Diagnostics Market Analysis Report By Technology (Immunohistochemistry, In Situ Hybridization, Digital & Anatomic Pathology), By Application, By End Use, And Segment Forecasts, 2019 - 2025
Read the full report: https://www.reportlinker.com/p05741370
The global tissue diagnostics market size is expected to reach USD 6.03 billion by 2025 at a 6.6% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Major developments pertaining to consolidation, automation, and efficiency analysis to streamline tissue-based disease screening protocols and cashflows have driven this market. Furthermore, collaborations for development of companion diagnostics are anticipated to impact adoption rate of technologies that are employed in the tissue diagnostics arena.
Need for robust diagnostic solutions as a consequence of rising cancer burden has pronounced demand for research initiatives and simultaneous product launches, thus driving the market. For example, in March 2017, California-based OptraScan began offering a subscription-based digital pathology service for research purposes, mainly for smaller labs that are unable to pay for high-end scanners.
In addition, implementation of sequencing technology in tissue-based tests would significantly impact the progress rate of this market. Major leaders like Roche are offering sequencing-based tissue diagnostics products, thus aiding market growth.
Further key findings from the report suggest:
• By technology, immunohistochemistry (IHC) dominated the market in terms of revenue owing to its widespread usage across laboratories for examining tissues for early disease diagnosis and prediction of therapy response in cancer patients
• Digital pathology and workflow is expected to grow at the fastest rate owing to rising investment in infrastructure and onsite server for digitizing images. Furthermore, shortage of pathologists has spurred automation in disease testing, thereby driving the segment
• High incidence of breast cancer, coupled with presence of several products specifically designed for detection of this type of cancer, has resulted in breast cancer accounting for the largest share by application. Advancements in genomics for comprehensive understanding of the genetic markup of a tumor are also anticipated to contribute to segment growth
• By end use, hospitals have led the overall market owing to high hospitalization rate and subsequent adoption of these assays
• North America captured a major revenue share owing to presence of a well-established regulatory framework for diagnostics. Furthermore, growing collaboration between diagnostic and pharmaceutical companies in U.S. is driving the regional market
• F. Hoffmann-La Roche Ltd, Abbott, Siemens Healthineers, and QIAGEN are some of the key participants in the market. These companies have been investing significantly in novel product development and acquisition of small payers in order to maintain their revenue share.
Read the full report: https://www.reportlinker.com/p05741370
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