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Tissue Diagnostics Market size was valued at USD 4.97 billion in 2019 and is poised to grow from USD 5.3 billion in 2023 to USD 9.42 billion by 2031, growing at a CAGR of 6.6% in the forecast period (2024-2031).

The tissue diagnostics market is fairly competitive with the presence of few large players across the globe such as Abbott Laboratories, Danaher Corporation, Agilent Technologies. The companies are investing significant amount in the research & development sector to expand their product portfolio to consolidate their position in the market. In addition, partnerships, acquisitions, collaboration are few other strategies opting by several market players. 'F. Hoffmann-La Roche Ltd.', 'Danaher Corporation', 'Thermo Fisher Scientific Inc.', 'Agilent Technologies, Inc.', 'Abbott Laboratories', 'Merck KGaA', 'Becton, Dickinson and Company', 'Qiagen N.V.', 'Biogenex Laboratories, Inc.', 'Sakura Finetek USA, Inc.', 'Bio SB', 'Abcam plc', 'Cell Signaling Technology, Inc.', 'Bio-Rad Laboratories, Inc.', 'Enzo Biochem, Inc.', 'Leica Biosystems Nussloch GmbH', 'Siemens Healthcare GmbH', 'Ventana Medical Systems, Inc.', 'Agendia, Inc.', 'Myriad Genetics, Inc.'

Rising prevalence of cancer at a high rate is a major driving factor of the market during the forecast period. The incidence of cancer is the highest in developed regions; however, cancer mortality is relatively higher in developing regions due to the various factors such as lack of access to advanced treatment facilities and the late detection of cancer in several patients. According to the WHO, approximately 70% of deaths due to cancer were reported in low-income and middle-income countries in the year 2020.

Shift in paradigm from conventional types of pathology method towards digital pathology is one of the major emerging trends likely to shape tissue diagnostics market during the forecast period. Key companies such as Abbott Laboratories and F. Hoffmann are highly focusing on the development of diagnostic tests that aim to provide critical information. For example, FISH tests play a very important role in diagnosis of solid neoplasms and biomarker hematologic. Also, it is being implemented in the field of personalized medicine.

Globally, North America held the biggest market share in 2021, and is expected to maintain its dominance throughout the forecast period. Due to the good healthcare system, presence of qualified professionals, strong presence of major manufacturers, advanced procedures, and high adoption of Mi surgical systems in the region. Moreover, continuously increasing investment in the R&D to create new and more advance products is likely to have a positive impact on the market in the region. According to National Cancer Institutes, the number of cancer cases in the United States was around 17.2 million in 2021, and it is expected to reach 20.3 million by 2026.

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Global Tissue Diagnostics Market

Product ID: SQMIG35H2161