Tissue Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Tissue Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The tissue diagnostics market is expected to register a CAGR of 5.5% over the forecast period (2022-2027).

COVID-19 is expected to have a strong impact on the growth of the market during the pandemic period. This is mainly due to the adoption of tissue diagnostics for the COVID-19 diagnosis. For instance, the article titled ' Detection methods for SARS-CoV-2 in the tissue' published in March 2021 mentioned that analyses for the presence of SARS-CoV-2 in the tissue of COVID-19 patients were important to improve the understanding of the disease pathophysiology for interpretation of diagnostics histopathological findings in autopsies, biopsies or surgical specimens and to assess the potential for occupational infectious hazard. Thus the utlization of the tissue diagnosis to analyze the condition of the infected patient is expected to drive the growth of the market during the pandemic period.

Tissue-based diagnostics serve as one of the most important techniques for cancer diagnosis. The International Agency for Research on Cancer (IARC) predicts that, by 2030, the global burden is expected to increase to 21.7 million new cancer cases, due to the growth and aging of the population, apart from other factors, such as smoking, poor diet, physical inactivity, and fewer childbirths. Moreover, with the rising burden of diseases caused by unhealthy lifestyles such as obesity, being overweight is expected to drive the growth of the market. The article published by A-ManisaBiotech in 2020 states that more than 2 billion adults, 18 years and older were overweight across the world. Of these, over 650 million were obese in the world. The World Health Organization (WHO) published in 2021 that modifiable behavioral risk factors such as tobacco use account for over 7.2 million deaths every year and 1.6 million deaths annually can be attributed to insufficient physical activity. Thus, such unhealthy lifestyles leading to non-communicable diseases driving the demand for the effective diagnostics such as tissue diagnostics during the forecast period.

The tissue diagnostics capture the disease insights and the parameters that factor into the patient outcomes. Tissues generally enable personalized diagnosis & treatment. Samples usually consist of pieces of tissue obtained by various methods. These include small biopsies and large specimens removed at surgery. Other factors such as growing healthcare expenditure, and technological advancements in tissue diagnostics are the major factors driving the growth of the market.

Additionally, the product launches by various key market players inorder to meet the demand for the effective diagnostics is also expected to drive the growth of the market. For instance, In March 2021, The Quick-Core Auto Biopsy System ("Quick-Core Auto") for soft tissue biopsy was launched by IZI Medical Products LLC ("IZI"), a prominent developer of medical devices used in interventional radiology and interventional oncology treatments. The Quick-Core Auto is a lightweight, completely automatic biopsy equipment that adds on the reliability, precision, and quality of IZI's Quick-Core semi-automatic biopsy system.

Thus the above mentioned factors are expected to drive the growth of the market during the forecast period.

Key Market TrendsBreast Cancer Segment is Expected to Register a Significant Growth in the Forecast Years

Based on the application, it is segmented into breast cancer, prostate cancer, gastric cancer, and others. The main factor attributed to the growth of this segment is the increasing burden of breast cancer. As per Cancer Australia, in 2021, it was estimated that 20,030 new cases of breast cancer were diagnosed in the country (164 males and 19,866 females). The same source reports that in 2021, a person had an estimated 1 in 15 (or 6.7%) risk of being diagnosed with breast cancer by the age of 85 (1 in 8 or 13% for females and 1 in 829 or 0.12% for males). Therefore, the high burden of breast cancer is increasing the demand for breast cancer treatment, thereby contributing to the market's growth.

The adoption of tissue diagnostics to detect breast cancer in patients is also expected to drive the growth of the studied segment. For instance, the article titled 'Breast Cancer- Diagnosis and Treatment ' published in April 2022 mentioned that a biopsy is the only definitive way to make a diagnosis of breast cancer. Similarly, the article titled ' Breast Cancer Screening and Diagnosis' published in January 2021 mentioned that the only way to confirm breast cancer was for a doctor to do a needle aspiration of surgical breast biopsy to collect and test tissue for cancer cells. Hence, the increasing cancer cases along with advancements in the field of tissue diagnostics are major factors contributing to the growth of the market in the forecast period.

North America holds the Largest Share in the Tissue Diagnostics Market During the Forecast Period.

The tissue diagnostics market holds the largest share in the North American region due to the increased awareness about the potential benefits of diagnostics among the population. The major factors driving the growth of the market in the United States include the well-established healthcare industry and the rising prevalence of cancer. As per the GLOBOCAN 2020, an estimated number of 209,512 are afflicted with prostate cancer and the number is likely to reach 257,000 by 2040. In addition, the increasing prevalence of breast cancer in the United States will also complement the growth of the tissue diagnostics market in the region. As per the GLOBOCAN 2020 report, the new breast cancer cases in the United States were 253,465. Such numbers indicate that the prevalence of cancer in the country is boosting the demand for tissue diagnostics in the United States.

Also, as per the report published by the National Institute of Health (NIH) in July 2021, titled “Financial Burden of Cancer”, the national costs for cancer care were estimated to be USD 190.2 billion in 2015 and USD 208.9 billion in 2020, which is an increase of 10% and thus, with the increased spending on the cancer diagnostics and treatments in the country, the tissue diagnostics market is expected to grow over the forecast period in the United States.

Furthermore, sophisticated healthcare infrastructure and the growing prevalence of infections will positively impact tissue diagnostics growth over the projected timeframe.

Competitive Landscape

The tissue dagnostics market is fragmented in nature due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known. The global players in the tissue diagnostics market are Abbott Laboratories, Agilent Technologies, Inc., BioGenex Laboratories, Cancer Genetics, Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd, Genomic Health, Inc., Merck KGaA and Thermo Fisher Scientific.

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