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(Health-NewsWire.Net, May 18, 2020 ) This industry is experiencing significant growth due to the rising incidence of cancer, developing infrastructure for cancer diagnosis, recommendation of cancer screening, availability of reimbursements, and increasing healthcare expenditure.
The tissue diagnostics market size is expected to reach USD 4.7 billion by 2025 from USD 3.4 billion in 2020, at a CAGR of 6.5%.
+ Market Dynamics
+ Drivers
+ Increasing incidence of cancer
+ Growing healthcare expenditure
+ Developing infrastructure for cancer diagnosis
+ Recommendations for cancer screening
+ Availability of reimbursements
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Based on the product, the tissue diagnostics market is segmented into instruments and consumables. The consumables segment is expected to grow at the highest growth rate during the forecast period. This is attributed primarily to their requirement in large numbers, cost-effectiveness, and ease of use. The increasing number of reagent rental agreement is also one of the major factors to drive the growth of the consumables market globally
Based on the technology, the tissue diagnostic market is segmented into immunohistochemistry, in situ hybridization, digital pathology and workflow, and special staining. The immunohistochemistry segment is estimated to register the highest CAGR during the forecast period. This can primarily be attributed to the increasing prevalence of chronic diseases across the globe, where this technology is mostly used in tissue diagnostics.
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Mr. Aashish Mehra
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