Cancer Tissue Diagnostics Market is Expected to Grow at 6.6% CAGR over 2022-2032 | Future Market Insights, Inc.
The United States has dominated the North American cancer tissue diagnostics market. The cancer tissue diagnostics market in Western Europe is currently led by Germany and is expected to be led by Germany for the foreseeable future
DUBAI, United Arab Emirates, Sept. 12, 2022 (GLOBE NEWSWIRE) -- The global cancer tissue diagnostics market is expected to reach a market valuation of US$ 5.3 Billion by the year 2022, accelerating with a moderate CAGR of 6.6% by 2022-2032. Cancer Tissue Diagnostics market size is anticipated to be valued at about US$ 10.04 Billion by 2032 end.
The global cancer tissue diagnostics market looks promising for several reasons. These include the increasing prevalence of cancers of all types, rising demand for preventative health services, the proliferation of digital pathology's applications, the escalation of cancer awareness campaigns, the creation of more efficient diagnostic and monitoring tools, and the general improvement in diagnostic accuracy.
The high cost of diagnostic methods and a lack of skilled and professional personnel in the cancer tissue diagnostics market are anticipated to restrain the growth of the global cancer tissue diagnostics market during the forecast period.
Immunohistochemistry (IHC) has the greatest cancer tissue diagnostics market share in 2019 due to its widespread use in cancer treatment and therapy research and development. Because of the distinct differences it reveals between tumour types, IHC is generally favoured over traditional enzyme staining techniques. While traditional approaches can only pick up on a small subset of tumour-specific tissue structures, enzymes, and proteins.
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The field of digital pathology in the cancer tissue diagnostics market is anticipated to expand at a rate higher than any other during the predicted time frame. One of the primary forces propelling the category forward is the rising popularity of whole-slide imaging (WSI) among practising pathologists. To further aid in cancer diagnosis and give informative clinical measures for tumours, WSI can extract and quantify individual aspects of tumours.
Key Takeaways
The cancer tissue diagnostics market is anticipated to reach a valuation of US$ 10.04 Billion by 2032.
North America held 45.9% of the cancer tissue diagnostics market in 2020. Because of the high overall cancer incidence rate and public programmes to lower cancer rates and raise demand for alternative cancer diagnostics.
Germany has the most developed cancer tissue diagnostics market in Western Europe and is projected to maintain its dominance. The expansion is driven by Germany's established manufacturing centres and public awareness of early cancer detection.
Growth in personalised cancer diagnosis and treatment, improvements in imaging technology, and rising cancer incidence rates are all factors fuelling the cancer tissue diagnostics market expansion.
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Competitive Landscape
In response to rising demand, leading firms in the field of cancer tissue diagnostics are focusing more resources on digital pathology. This is anticipated to encourage technology suppliers and digital pathology platforms to create strategic alliances in the worldwide cancer tissue diagnostics market.
In July of 2020, Koninklijke Philips N.V., a Dutch multinational conglomerate corporation and one of the world's largest electronics companies with a focus on health technology, announced that it had partnered with Proscia Inc., a Philadelphia-based provider of digital pathology platform, to establish an open ecosystem for diagnostic laboratories to boost and scale their operations on the platform of digital pathologies.
As a result of this collaboration, Philips' iSyntax picture format is likely to be made available on Proscia's Concentriq digital pathology platform, and Proscia's suite of AI modules will be integrated into the Philips Pathology SDK software toolset.
In June of 2020, F. Hoffmann-La Roche AG, a Swiss pharmaceutical and diagnostics company, will release the CE-IVD version of its state-of-the-art, fully automated digital pathology platform uPath PD-L1 (SP263) for studying non-small cancer lung cells. (NSCLC).
According to the company, the decision was driven by the need to improve consistency and trustworthiness in diagnostic labs using artificial intelligence-driven image analysis tools.
Cancer Tissue Diagnostics Market by Segmentation
By Test Type:
Immunohistochemical (IHC) Test
Breast Cancer
Stomach (Gastric) Cancer
Colorectal Cancer
Prostate Cancer
Others
In Situ Hybridization (ISH) Test
Breast cancer
Non-Small Cell Lung Cancer (NSCLC)
Bladder Cancer
Others
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa
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Table of Content
1. Executive Summary
2. Cancer Tissue Diagnostics Introduction
2.1. Cancer Tissue Diagnostics Definition
2.2. Cancer Tissue Diagnostics Taxonomy
3. Cancer Tissue Diagnostics Analysis Scenario
3.1. Cancer Tissue Diagnostics Size (US$ Mn) and Forecast
3.1.1. Market Size and Y-o-Y Growth
3.1.2. Absolute $ Opportunity
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