Cancer Tissue Diagnostics Market Growth, Size, Share, Trends, and Forecast 2032

Cancer Tissue Diagnostics Market: Industry Prospective

The global Cancer Tissue Diagnostics Market size was valued at USD 15.16 Billion in 2023 and is predicted to reach USD 22.34 Billion by the end of 2032. The market is expected to grow with a CAGR of 4.4% during the forecast period. The report analyzes the global Cancer Tissue Diagnostics Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Cancer Tissue Diagnostics industry.

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Global Cancer Tissue Diagnostics Market: Overview

Cancer tissue diagnostic techniques assist in examining the presence of tumors in malignant tissues. Initially, immunohistochemistry was adopted to detect the presence of particular antigens at the tumor site. The screening done with non-fluorescent chromogens is studied with conventional microscopy. However, several advanced techniques have been developed in recent years for diagnosing cancer tissues effectively. The fluorescence in situ hybridization technique is adopted for the examination of particular genetic abnormalities in the genome. Furthermore, the hybridized deoxyribonucleic acid is verified with certain specific probes. The cancer tissue diagnostic solutions are highly efficient in the early detection of several types of cancers, including breast cancer, prostate cancer, and lung cancer.

Global Cancer Tissue Diagnostics Market: Growth Factors

The growing transformation in the global cancer tissue diagnostics market due to the rising prevalence of liver, breast, and other types of cancers along with the high requirement for advanced methods for its precise and early detection will steer the growth of the market. Several initiatives are undertaken by nonprofit organizations and government authorities to fasten the supplier’s chain in order to fulfill the surging demand. However, there is a significant spike in investment and findings to innovate advanced diagnostic solutions, which in turn will also boost the sales of cancer tissue diagnostic equipment. Also, the rise in government investments under the health diagnosis schemes along with growing awareness among people regarding the effective treatment and early diagnosis of cancer is likely to significantly escalate the growth of the global cancer tissue diagnostics market in the forthcoming years. There is a constant surge in the rate of cancer cases globally. The World Health Organization has introduced a global cancer observatory. It is a web-based interactive platform to spread awareness among people and also create a new path for suppliers associated with diagnostic equipment for cancer treatment.

However, the ongoing product launches along with the ease in the process of FDA approvals will also support the growth of the market. The global cancer tissue diagnostics market is expected to foresee exponential growth post-pandemic. The outbreak of the Covid-19 has imposed lockdowns all across the globe, which in turn has significantly altered the surgeries and operations globally. Therefore, several surgery cases are expected to come. Also, the disruptions in the clinical trials along with a long delay in drug launches are likely to positively impact the growth of the market. The surging applications of cancer tissue diagnostics in the healthcare sector are likely to create several lucrative growth opportunities in the global cancer tissue diagnostics market in the forthcoming years. The rising number of private diagnostic laboratories will also pose huge demand for diagnostic equipment. Governments are also supporting the growth of private diagnostic labs in order to lower the rising burden on public hospitals owing to the limited number of diagnostic imaging facilities and modalities at their disposal. The life science sector will offer ample thrust to in vitro diagnostic products. Market players are emphasizing on boosting research and development activities to launch advanced and innovative cancer tissue diagnostic solutions in the market.

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Global Cancer Tissue Diagnostics Market: Segmentation

The global cancer tissue diagnostics market can be segmented into test types and regions.

By test type, the market can be segmented into in situ hybridization test and immunohistochemical test. The in situ hybridization test can be bifurcated into bladder cancer, non-small cell lung cancer, breast cancer, and others. The immunohistochemical test segment can be bifurcated into prostate cancer, colorectal cancer, stomach cancer, breast cancer, and others. The immunohistochemical test segment accounts for the largest share in the global cancer tissue diagnostics market owing to the fact it offers a large number of advantages. It offers a good turnaround time and is highly cost-effective.

Cancer Tissue Diagnostics Market: Report Scope

Global Cancer Tissue Diagnostics Market: Regional analysis

North America accounts for the largest share in the global cancer tissue diagnostics market. The region is expected to be the most lucrative region for the growth of the cancer tissue diagnostic market. One of the key factors propelling the growth of the regional market is the rise in the number of cancer cases in the region. Furthermore, more advancements in diagnostic technologies are likely to further accentuate the growth of the regional market in forthcoming years.

Asia Pacific is expected to be the fastest-growing region in the global cancer tissue diagnostics market due to the growing investments from the government to strengthen the healthcare infrastructure in the region.

Global Cancer Tissue Diagnostics Market: Competitive Players and Segments

Some of the significant players in the global cancer tissue diagnostics market are

• Abcam plc
• Danaher Corporation
• Merck KGaA
• Cancer Genetics Inc.
• Agilent Technologies, Inc.
• Enzo Life Sciences, Inc
• Abbott
• Bio Rad Laboratories Inc.
• Thermo Fisher Scientific Inc.
• Exact Science
• Biocartis NV
• Bio SB
• Quidel Corporation
• AMOY Diagnostics CO. LTD.
• and F. Hoffmann-La Roche Ltd.

By Product:

• In Situ Hybridization (ISH) Test Kits
  • Fluorescent In Situ Hybridization (FISH) Kits
  • Chromogenic In Situ Hybridization (CISH) Kits
• Molecular Diagnostics Test Kits
  • Polymerase Chain Reaction (PCR) Kits
  • Next-generation Sequencing (NGS) Kits
• Companion Diagnostics Test Kits
  • Genetic Testing Kits
  • Biomarker Testing Kits
• Immunohistochemistry (IHC) Test Kits

By Cancer:

• Breast Cancer
• Lung Cancer
• Colorectal Cancer
• Prostate Cancer
• Ovarian Cancer
• Hematologic Cancer
• Liver Cancer
• Pancreatic Cancer
• Skin Cancer (Melanoma)
• Others

By End-user:

• Hospitals
• Specialty Centers
• Long-term Care Centers
• Diagnostic Centers
• Academic & Research Institutes

Global Cancer Tissue Diagnostics Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.