Valley Cottage, New York, Nov. 27, 2017 (GLOBE NEWSWIRE) -- While cancer continues to be among the primary chronic diseases across the world, a number of companies have been investing on the research and development of equipment that can efficiently diagnose the presence of cancer tissues, and these efforts are expected to bear fruits in the near future. Consequently, a fresh business intelligence study by Future Market Insights (FMI) has notified that the future of the global cancer tissue diagnostics market is healthy, projecting the demand to increment at a formidable CAGR of 8.3% during the forecast period of 2016 to 2026. The report has also estimated that the opportunities in the market for cancer tissue diagnostic, worldwide, will translate into a revenue of US$9,650 mn by the end of 2026, substantially up from its evaluated worth of US$4,350 mn in 2016.
This lucrativeness of the market has been attracting a number of companies who have already made the competitive landscape a consolidated one, distributed among a small chunk of global players such as Agilent Technologies, Inc., Bio Rad Laboratories Inc., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd., Ventana Medical Systems, Inc, Enzo Life Sciences, Inc., BioGenex, Abcam plc., Cell Signaling Technology, Inc., and PerkinElmer Inc. Most of these players are often indulging in mergers and acquisitions as well as partnerships with other players in order to innovate products and expand their geographical presence. In the near future, collaborations with instrument manufacturers, assay kit developers, and providers of technology license providers is expected to pave new ways for the players.
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This report is a product developed by experience healthcare research analysts and aspires to serve as a reliable business document for its targeted audiences such as manufacturers of tissue diagnostics equipment, pathologist and pertaining laboratories, research associations, distributors of equipment of tissue diagnostics, OEMs, government bodies, and venture capitalists. Apart from providing an extended assessment of the current condition of the market for cancer tissue diagnostics, the report provides comprehensive analysis of trends, drivers, and restraints, divides the market into smaller segments, provides evaluations and estimations on fruitfulness of various regions and countries, and profiles some of the leading companies in a dedicated chapter on competitive landscape.
Prevalence of cancer, incremented expenditure of consumers on healthcare, improving infrastructure for cancer diagnostics in various developed and emerging economies, and recent technological advancements are some of the key factors augmenting the demand in the global cancer tissue diagnostics market. On the other hand, high degree of consolidation, strict government regulations, and lack of infrastructure as well as reimbursement policies in various countries are challenging this market from flourishing properly. That being said, the companies connected to the value chain of this market will gain new opportunities in emerging economies, growing preference of personalized medicine, increasing number of clinical trials of drugs pertaining to cancer, and increasing number of reagent rental agreements.
Based on the type of test, the market for cancer tissue diagnostics has been segmented into immunohistochemical (IHC) test, which has been further sub-segmented into breast cancer, colorectal cancer, stomach or gastric cancer, prostate cancer, and others, and in situ hybridization (ISH) test, which has been further bifurcated into breast cancer, bladder cancer, non-small cell lung cancer (NSCLC), and others.
Region-wise, the report picks out North America as most profitable, serving more than one third (36 percent) of the total demand in the global cancer tissue diagnostics market, closely followed by Europe and then Asia Pacific. While the U.S. constitutes for the maximum demand for these diagnostics coming from North America, France, Germany, and the U.K. are most important countries from Europe and India and China dominate the demand from APAC.
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