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 agreements is also one of the major factors to drive the growth of the consumables market globally.
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.
The tissue diagnostic market has been analyzed for North America, Europe, the Asia Pacific, Latin America, and the Middle East Africa. In 2019, North America held the largest share of the market, followed by Europe.
Easy accessibility to advanced technologies, government initiatives for screening cancer patients, favourable reimbursement scenario for pathology diagnostic tests, increasing healthcare expenditure, and high-quality infrastructure for hospitals and clinical laboratories in this region are the major factors driving the growth of the tissue diagnostic market in North America.
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The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Then, both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
The secondary sources referred to for research study on the tissue diagnostic market include publications from government sources such as white papers; articles from recognized authors; gold standard and silver standard websites, directories, and databases; corporate filings such as annual reports, SEC filings, investor presentations, and financial statements; research journals; press releases; and trade, business, and professional associations were referred to identify and collect information for this study.
The tissue diagnostic market comprises several stakeholders, such as tissue diagnostic manufacturers and distributors. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
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Key Market Players
The prominent players operating in the tissue diagnostic market include Roche (Switzerland), Danaher (US), Thermo Fisher Scientific (US), Abbott (US), Agilent Technologies (US), ABCAM (UK), Merck KGAA (Germany), BD (US), Hologic (US), Bio Rad (US), Biomeriux (France), Sakura Fientek Japan (Japan), BioSB (US), Biogenex (US), Cell Signaling Technology (US), Histoline Laboratories (Italy).
Roche (Switzerland) is one of the leading players in the tissue diagnostic market in 2019. The company offers a broad product portfolio across the globe. Over the years, the company has maintained its leading position in the market.
