Tissue Diagnostics Market: Overview
Rising prevalence of cancer is one the major factors driving growth of tissue diagnostic market. The disease is characterized by abnormal cell division in an abrupt manner. Tissue diagnostic tests such as IHC, ISH, and H&E are widely used to detect and diagnose cancer and tumor.
With rising incidence of cancer across the globe, the tissue diagnostic market has witnessed significant growth.
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The upcoming tissue diagnostic market analysis report provides insight about the upcoming trends and restraining factors likely to shape growth of the market during forecast period (2019-2029). The report also provides a comprehensive analysis of the key companies of the market and offers details about the capacities and competencies of these companies. The market report also focusses on the market’s competitive landscape and provided detail of the product portfolio of various companies.
Tissue Diagnostics Market: Competitive Analysis
Due to presence of several companies, tissue diagnostic market is highly fragmented. Intense competition exists among the players operating in the tissue diagnostic market. To remain ahead of each other, vendors are widely implementing organic growth strategies such as product innovation. For example, players are consistently working on development of ready-to-use reagents. QIAGEN N.V., Thermo Fisher Scientific Inc., PerkinElmer Inc., Siemens Healthineers AG, and Sakura Finetek Japan Co. Ltd. are some of the pioneers in the global tissue diagnostics market.
Growing prevalence of cancer across the globe is likely to present tremendous growth opportunities to global tissue diagnostics market. On the other hand, high cost of tissue diagnostic equipment is likely to interfere with growth of the vendors operating in the global market.
To strengthen foothold in the global market, players in the market is making most of the opportunities in the fast-growing segments, while marking their presence in the slow-growing segments.
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Some of the players operating in the market are-
- Danaher Corp.
- Abbott Laboratories
- F. Hoffmann-La Roche Ltd.
- Koninklijke Philips N.V.
- Agilent Technologies Inc.
Tissue Diagnostics Market: Key Trends
Shift in paradigm from conventional pathology method towards digital pathology is the one of the emerging trends likely to shape tissue diagnostics market during the forecast period. Adoption of tissue diagnostic method is attributed to its accuracy and effectiveness.
Key companies such as F. Hoffman-La Roche and Abbott are extensively focusing on the development of tests that aim to provide critical information. These test allows personalized and targeted approach for both, diagnostic and therapeutic purposes.
For example, FISH tests play a crucial role in diagnosis of specific biomarkers hematologic and solid neoplasms. Thus, the tests are high in demand for biomarkers research. Also, they are being implemented rapidly in the field of personalized medicine.
Tissue Diagnostics Market: Regional analysis
In recent years, North America has emerged as largest tissue diagnostics market. Registering expansion of the regional market, market analysts predict that the region is likely to offer various growth opportunities to the market players during the course of the forecast period. Further, growing geriatric population in the region and rising prevalence of cancer are impelling rapid adoption rate of technologically advanced tissue diagnostic systems. In addition, rising healthcare expenditure, especially for cancer screening is likely to boost tissue diagnostics market in the region.
As per estimation given by market analysts, North America is likely to be a prominent contributor to the global tissue diagnostics market during the forecast period.
Meanwhile, Europe and Asia Pacific market is projected to witness progressive growth rate during the forecast period.
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