Tissue Diagnostics Market to Hit USD 9.48 Billion
The tissue diagnostics market is expected to experience significant growth, driven by the increasing incidence of cancer and the need for accurate diagnosis and treatment. The Market was valued at approximately USD 5.55 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 7.15% from 2024 to 2031, reaching a value of USD 9.48 billion by 2031.
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Tissue Diagnostics Market
The growth of the tissue diagnostics market can be attributed to the rapid rise in cancer incidence, which is driving the demand for anatomic pathology services. The convergence of anatomical and molecular pathology, as well as the increasing adoption of liquid biopsies, are also contributing to the growth of the market.
The availability of advanced equipment over the past 20 years has transformed the tissue diagnostics sector, making life easier for pathologists and medical professionals. The market is segmented into five categories based on technology: immunohistochemistry, in situ hybridization, primary & special staining, digital pathology and workflow, and anatomic pathology.
Immunohistochemistry (IHC) is a widely used technique in clinical research and cancer diagnosis, with a revenue share of 28.76% in 2022. Digital pathology and workflow are expected to be the fastest-growing segment, driven by the increasing adoption of whole-slide imaging (WSI) and the need for enhanced cancer detection and clinical measurements.
The market is also segmented by application, with breast cancer accounting for the largest revenue share of 50.15% in 2022. Prostate cancer is expected to be the fastest-growing segment, driven by the development of genetic technology and the identification of biomarkers.
By region, North America accounted for 45.87% of the tissue diagnostics market, driven by the high incidence of cancer in the region. The development of tissue diagnostic tests has been facilitated by the discovery of biomarkers, providing opportunities for growth in the segment.
Overall, the tissue diagnostics market is expected to experience significant growth, driven by the increasing incidence of cancer and the need for accurate diagnosis and treatment. The market is expected to be driven by the adoption of advanced technologies, such as digital pathology and workflow, and the development of new biomarkers and diagnostic tests.
