08 January 2020
Visiongain’s new report the Tissue Diagnostics Market Report : Forecasts by Product (Consumables, Instruments), by Product (Immunohistochemistry, in Situ Hybridization, Digital Pathology, Others), by Disease (Breast Cancer, Gastric Cancer, Lymphoma, Prostate Cancer, Non-Small Cell Lung Cancer, Others), by End User (Hospitals, Research Labs, Pharmaceutical Companies, Research Organizations), plus analysis of leading companies operating in the global tissue diagnostics market.
In 2019, the global tissue diagnostics market was valued at $4.09 billion and is expected to reach $8.24 billion by 2029 at a CAGR of 7.2% over the forecast period. Rising cancer prevalence all over the world, expanding healthcare infrastructure in developing countries, growing healthcare diagnostics affordability, technological advancement in imaging, and growth in personalized therapeutics is expected to increase tissue diagnostics market expansion over the projected period.
Improving healthcare infrastructure in developing countries such as India, China, Indonesia, Singapore, Malaysia, South Korea, Brazil, and Colombia is expected to encourage healthcare service providers to expand their facilities in these countries. Additionally, increasing disposable income followed by increasing healthcare spending has increased market penetration of tissue diagnostics over the past few years and the trend is expected to continue over the course of time.
Technological advancement in tissue diagnostics is expected to open avenues in the global healthcare industry. For instance, in 2018, According to University of Illinois, a new microscope system can image living tissue in real time and in molecular detail, without any chemicals or dyes. Some other prominent technologies innovated in 2017 are a Mass Spec Pen To Rapidly Identify Cancer, Paper Point-of-Care Zika Test, Transparent Tissues for Pathological Diagnosis, Paper-based Electrochemical Diagnostics, Microfluidic Chip to Predict Preterm Birth, Smartphone TRI Analyzer, and Wearable Sweat Sensor.
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The market is expected to be driven by key factors such as rising cancer prevalence, government funding support in genetic research and technological advancements taking place in the biological research field. In addition, the market is predicted to gain huge traction in the developing countries.
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