Tissue Diagnostics Market Size Incredible Possibilities and Growth Analysis
The tissue diagnostics market is expected to reach USD 5.14 Billion by 2022 from USD 3.44 Billion in 2016 at a CAGR of 6.9%
The growth of Tissue Diagnostics market is mainly due to the rising incidences of cancer, technological innovations in the area of tissue diagnostics, and increasing healthcare expenditure.
Drug Discovery held the largest share of the applications market in 2019
Based on applications, the cell-based assays market is segmented into drug discovery, basic research, and other applications such as quality checks among others. In 2019, the drug discovery segment accounted for the largest share of the cell-based assays market. The large share of this segment can be attributed to the increasing R&D investments and technological advancements in supportive processes such as high throughput screening and 3D cell cultures.
Pharmaceutical and biotechnology companies were the largest end users of cell-based assays in 2019
By end user, the cell-based assays market is segmented into pharmaceutical and biotechnology companies, academic and government institutes, and contract research organizations (CROs). The pharmaceutical and biotechnology companies segment accounted for the largest market share in 2019 while the CROs segment is projected to grow at the highest CAGR during the forecast period.
North America dominated the tissue diagnostics market, by region, in 2017
The tissue diagnostics market is segmented into four major regions—North America, Europe, Asia, and the Rest of the World (RoW). North America was the largest market for tissue diagnostics in 2017, due to several factors such as the strong presence of market players in the region, the growing geriatric population and chronic disease incidence, and easy access to healthcare services.
Notable players in this market are F. Hoffman-La Roche (Switzerland), Danaher (US), Thermo Fisher Scientific (US), Abbott Laboratories (US), Agilent Technologies (US), Merck (Germany), Sakura Finetek Japan, Abcam (UK), Becton, Dickinson and Company (US), and QIAGEN (Netherlands).