Tissue Diagnostics Market Worth 4,471.1 Million USD by 2020
PUNE, India, December 2, 2015 /PRNewswire/ --
According to a new market research report "Tissue Diagnostics Market by Technology (Immunohistochemistry, in Situ Hybridization, Digital pathology & Workflow, Special Staining), Disease (Breast Cancer, Gastric Cancer), Product, and End Users & Region - Global Forecast to 2020", published by MarketsandMarkets, The global market is valued at USD 3,202.5 Million in 2015 and expected to reach USD 4,471.1 Million by 2020 at a CAGR of 6.9% from 2015 to 2020.
Browse 76 market data Tables and 96 Figures spread through 169 Pages and in-depth TOC on "Tissue Diagnostics Market"
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The report provides a detailed overview of the major drivers, restraints, and opportunities in the global tissue diagnostics market along with the estimates and forecasts of the revenue and market share analysis.
The tissue diagnostics market exhibits lucrative growth potential from 2015 to 2020. The major factor driving the growth of the tissue diagnostics industry is the increasing prevalence of cancer. On the other hand, the high degree of consolidation, stringent regulatory requirements, and lack of budgets are restraining the growth of this market.
Increasing healthcare expenditure will aid the growth of the tissue diagnostics market. Today, healthcare expenditure constitutes a significant part of the development budgets of all countries. Increasing healthcare expenditure will lead to a rise in the demand for quality healthcare, and will be an important growth driver for the tissue diagnostics market.
According to estimates from the World Bank, global healthcare spending increased at a CAGR of 6.97% from 2003 to 2013, from USD 3,786 Billion in 2003 to USD 7,427 Billion in 2013. In this period, public healthcare spending increased at a CAGR of 7.28% from USD 2,198 Billion in 2003 to USD 4,440 Billion in 2013. This high growth rate, along with substantial healthcare spending, will act as an important growth driver for the market.
The global tissue diagnostics market is segmented based on products, technology, diseases, and end users. On the basis of product, the tissue diagnostics market is segmented into instruments and consumables. In 2015, the consumables segment is expected to account for the largest share of the global tissue diagnostics market due to their low cost and ease of use.
On the basis of technology, the tissue diagnostics market is segmented into immunohistochemistry, in situ hybridization, digital pathology and workflow, and special staining. In 2015, the immunohistochemistry segment is expected to account for the largest share of the global tissue diagnostics market. The technology segment is mainly driven by growth in the IVD (in vitro diagnostics) market.
On the basis of diseases, the tissue diagnostics market is segmented into breast cancer, gastric cancer, lymphoma, prostate cancer, NSCLC, and other diseases. In 2015, the breast cancer segment is expected to account for the largest share of the global tissue diagnostics market. The growth of this segment is driven by the increasing incidence of breast cancer.
On the basis of end user, the tissue diagnostics market is segmented into hospitals, pharmaceutical companies, research laboratories, contract research organizations, and other end users. In 2015, the hospitals segment is expected to account for the largest share of the global tissue diagnostics market. This large share is attributed to the easy accessibility and availability of test results in hospitals.
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On the basis of region, the tissue diagnostics market is segmented into Asia, Europe, North America, and the Rest of the World (RoW). In 2015, North America is expected to command the largest share of the global tissue diagnostics market.
The major players in the Tissue Diagnostics Market include Abbott Laboratories (U.S.), Agilent Technologies (U.S.), BioGenex Laboratories (U.S.), Bio SB (U.S.), Cell Signaling Technology (U.S.), Danaher Corporation (U.S.), F. Hoffman-La Roche AG (Switzerland), Sigma-Aldrich (U.S.), Thermo Fisher Scientific (U.S.), and Sakura Finetek Japan Co., Ltd.
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