The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s tissue diagnostic market report forecasts the tissue diagnostic market size to grow to $6.74 Billion by 2027, with a CAGR (compound annual growth rate) of 8%.

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Tissue Diagnostic Market Size Forecast
The global tissue diagnostic market is expected to grow from $4.59 billion in 2022 to $4.95 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The tissue diagnostic market size is expected to grow to $6.74 billion in 2027 at a CAGR of 8.0%.

North America held the largest tissue diagnostic market share.

Key Tissue Diagnostic Market Driver ­– Rise In The Incidence Of Cancer
For instance, according to the US voluntary health organization dedicated to eliminating cancer, the American Cancer Society, in the USA, there were expected to be 1.8 million new cancer cases identified and 606,520 cancer deaths in 2020, and the number was expected to increase to 1.9 million new cancer cases diagnosed and 608,570 cancer deaths in 2021. Therefore, the rising incidence of cancer drives the tissue diagnostics market.

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Key Tissue Diagnostic Market Trend – Technological Advancement
Technological advancements include the introduction of automated tissue diagnostic devices/machines that collect multiple sample types, test multiple samples simultaneously, automate lab operations, and make them accessible to everyone. Key players are focused on developing and offering these automated tissue diagnostic systems to gain a competitive edge in the market and increase revenue. For instance, in July 2020, Mylab Discovery Solutions, an Indian molecular diagnostics company introduced Compact XL – Lab in a Box, India’s first fully automated Sample-to-PCR-ready system for molecular diagnostics. The new system automates lab operations from sample handling to RT-PCR ready tube preparation and does these operations in one single compact benchtop system. The system can collect various types of samples such as tissue, plasma, swabs, and sputum.

Tissue Diagnostic Market Segment
1) By Product: Consumables, Antibodies, Kits, Reagents, Probes, Instruments, Slide Staining System, Scanner, Tissue Processing system
2) By Technology: Immunohistochemistry (IHC), In Situ Hybridization (ISH), Digital Pathology And Workflow Management, Special Staining
3) By Disease: Breast Cancer, Gastric Cancer, Lymphoma, Prostate Cancer, Non-Small Cell Lung Cancer (NSCLC)
4) By End User: Hospitals, Research Laboratories, Pharmaceutical Companies, Contract Research Organizations

Tissue Diagnostic Market Major Players and Strategies
Major players in the tissue diagnostic market are Roche, Danaher, Thermo Fisher Scientific, Abbott, Agilent Technologies, Hologic, Qiagen, Bio Rad, BD, Genemed Biotechnologies Inc., Siemens, Merck KGaA, Cell Signaling Technology Inc., and Cellpath Ltd.

In February 2022, Labcorp, a US-based global life sciences company, acquired Personal Genome Diagnostics (PGDx) for $575 million. With the addition of PGDx and its technology, Labcorp will expand its next-generation sequencing-based genomic profiling capabilities and strengthens the existing liquid biopsy capabilities. Personal Genome Diagnostics (PGDx) is an a US-based company offering cancer genomics with a portfolio of comprehensive liquid biopsy and tissue-based products.

The Tissue Diagnostic Global Market Report 2023 covers regional data on tissue diagnostic market size, tissue diagnostic market trends and drivers, opportunities, strategies, and tissue diagnostic market competitor analysis. The countries covered in the tissue diagnostic market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Tissue diagnostic refers to a medical procedure that uses instruments to remove and stain tissue that must be sent to a laboratory or pathology department for documentation of what was excised for patient care (for tissue diagnostics). This offers measurements and descriptions, including any abnormalities, and an interpretation (or diagnosis) of health or disease status, under applicable legislation.

View More Reports Related To The Tissue Diagnostic Market –
Diagnostic Imaging Equipment Global Market Report 2023
Diagnostic Imaging Services Global Market Report 2023
Facial Tissues Global Market Report 2023

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