By the end of 2032, the size of the worldwide Cancer Tissue Diagnostics Market is expected to have grown from its estimated valuation of USD 15.16 billion in 2023 to USD 22.34 billion. Over the course of the projected period, the market is anticipated to expand at a CAGR of 4.4%. The study
By the end of 2032, the size of the worldwide Cancer Tissue Diagnostics Market is expected to have grown from its estimated valuation of USD 15.16 billion in 2023 to USD 22.34 billion. Over the course of the projected period, the market is anticipated to expand at a CAGR of 4.4%. The study examines the factors that will propel growth, impede it, and affect demand in the global cancer tissue diagnostics market over the course of the projected year. Additionally, it will support exploration and navigation of the emerging potential in the cancer tissue diagnostics sector.
Global Cancer Tissue Diagnostics Market: Overview
Techniques for diagnosing cancerous tissues help to look for tumors in malignant tissues. Originally, specific antigens were looked for at the tumor location using immunohistochemistry. Using traditional microscopy, the screening carried out with non-fluorescent chromogens is examined. Nonetheless, a number of sophisticated methods for accurately diagnosing cancerous tissues have been developed recently.
aside from other factors like smoking, poor food, and fewer births, because of the population’s growth and maturation. The worldwide market for tissue diagnostics is anticipated to rise at a faster rate due to the rapidly rising number of disorders. The development of sophisticated tissue-diagnostic based and companion diagnostic tests by key industry players is anticipated to be the primary driving force behind the global tissue diagnostics market throughout the projected timeframe.
The technique of fluorescence in situ hybridization is utilized to investigate specific genetic anomalies inside the genome. Additionally, the hybridized deoxyribonucleic acid is confirmed using certain probes. The early diagnosis of several cancer types, such as lung, prostate, and breast cancer, is greatly aided by the cancer tissue diagnostic solutions.
Global Cancer Tissue Diagnostics Market: Growth Factors
The market for cancer tissue diagnostics is expected to rise as a result of the increasing incidence of breast, liver, and other cancers, as well as the increased need for sophisticated techniques for early and accurate detection. Nonprofits and government agencies take a number of steps to strengthen the supply chain in order to meet the increasing demand.
The change is mostly attributable to medical experts’ growing desire for early cancer detection and prognosis. The development of targeted therapies and an increasing focus on individualized cancer treatments are driving the market expansion of cancer tissue diagnostic kits. Players in the market have increased their product offerings and improved their market presence as a result of the quick development of technology and creative diagnostic procedures.
There will be a considerable need for diagnostic equipment due to the growing number of private diagnostic laboratories. In an effort to alleviate the increasing strain on public hospitals due to the scarcity of diagnostic imaging facilities and modalities, governments are also encouraging the expansion of commercial diagnostic labs. In vitro diagnostic products will receive a lot of support from the life sciences industry.
Global Cancer Tissue Diagnostics Market: Segmentation
Test types and geographical areas can be used to categorize the global market for cancer tissue diagnostics.
The market can be divided into two segments based on the type of test: immunohistochemistry tests and in situ hybridization tests.
Breast cancer, non-small cell lung cancer, bladder cancer, and other types of cancer can be distinguished using the in situ hybridization test.
Prostate cancer, colorectal cancer, stomach cancer, breast cancer, and other cancers can be separated from the immunohistochemistry test section.
The IHC segment had the biggest market share in terms of technology in 2021 and is predicted to continue to lead the market for the duration of the projection. The development of cancer diagnosis and clinical research both heavily rely on IHC.
Due to an increase in breast cancer cases worldwide, the disease category with the biggest market share in 2021 is expected to hold this position throughout the duration of the projection.
Due to its many benefits, the immunohistochemistry test category holds the biggest market share in the worldwide cancer tissue diagnostics market. It is quite economical and provides a decent turnaround time.
Global Cancer Tissue Diagnostics Market: Regional analysis
The global market for cancer tissue diagnostics is dominated by North America. The market for cancer tissue diagnostics is anticipated to grow most profitably in this region. The increase in cancer incidence in the area is one of the main drivers of the regional market’s expansion. In the upcoming years, additional developments in diagnostic technologies are probably going to highlight the regional market’s expansion even more.
The region of Asia Pacific is anticipated to have substantial growth over the projected period as a result of increased public awareness of health-related issues and exposure to cutting-edge commercial technology. which supports the expansion of the hospitals’ infrastructure as well as the construction of additional healthcare facilities in the area.
North America is anticipated to continue to dominate the market for the duration of the forecast period, with the largest share in 2021. because of the region’s high adoption rate of Mi surgical systems, its strong presence of key manufacturers, its competent workforce, and its advanced procedures. Due to increasing government spending on bolstering the region’s healthcare infrastructure, Asia Pacific is anticipated to develop at the quickest rate in the global market for cancer tissue diagnostics.
Cancer Tissue Diagnostics Market
Global Cancer Tissue Diagnostics Market: Competitive Players and Segments
Some of the significant players in the global cancer tissue diagnostics market are
Abcam plc
Danaher Corporation
Merck KGaA
Cancer Genetics Inc.
Agilent Technologies, Inc.
Enzo Life Sciences, Inc
Abbott
Bio Rad Laboratories Inc.
Thermo Fisher Scientific Inc.
Exact Science
Biocartis NV
Bio SB
Quidel Corporation
AMOY Diagnostics CO. LTD.
and F. Hoffmann-La Roche Ltd.
By Product:
In Situ Hybridization (ISH) Test Kits
Fluorescent In Situ Hybridization (FISH) Kits
Chromogenic In Situ Hybridization (CISH) Kits
Molecular Diagnostics Test Kits
Polymerase Chain Reaction (PCR) Kits
Next-generation Sequencing (NGS) Kits
Companion Diagnostics Test Kits
Genetic Testing Kits
Biomarker Testing Kits
Immunohistochemistry (IHC) Test Kits
By Cancer:
Breast Cancer
Lung Cancer
Colorectal Cancer
Prostate Cancer
Ovarian Cancer
Hematologic Cancer
Liver Cancer
Pancreatic Cancer
Skin Cancer (Melanoma)
Others
By End-user:
Hospitals
Specialty Centers
Long-term Care Centers
Diagnostic Centers
Academic Research Institutes
Global Cancer Tissue Diagnostics Market: Regional Segment Analysis
There are a few major participants in the global tissue diagnostics market, including Abbott Laboratories, Danaher Corporation, and Agilent Technologies. The industry is fairly competitive worldwide. The corporations are allocating a substantial sum of money to research and development in order to broaden their range of products and strengthen their market position.
