Wed, 14 Apr 2021

Rising cases of cancer such as breast and lung cancer is prompting key players to develop highly developed and precise test furthering expansion prospects

DUBAI, UAE / ACCESSWIRE / April 6, 2021 / ESOMAR-certified research intelligence firm, Future Market Insights' recent study on cancer tissue diagnostics market presents a healthy growth outlook through 2021. According to the report, the market was valued at US$ 4345 Mn. It is driven by the increasing investment in cancer research activities to discover high precision biomarkers. Against this backdrop, the rising cases of cancers have been fuelling the demand for cancer tissue diagnostic. The market is forecast to exhibit a CAGR of nearly 8.5% through 2031.

Growing cases of lung, liver, and breast cancer are fuelling the demand in the cancer tissue diagnostic market. Technological advancements in cancer biomarkers aimed at enabling early detection of disease are expected to improve the demand. As per the World Health Organization (WHO), in 2020, an estimated 1,806,590 new cases of cancer were recorded in United States, among which around 40% of cancer cases could be prevented with the early diagnosis in order to get proper treatment. Hence, bolstering the growth.

In 2020, National Cancer Institute stated that there were an estimated 16.9 million cancer survivors in United States, which is estimated to increase to 22.2 million by 2030, with the help of advanced technology used in cancer tissue diagnostic solutions, stimulating the growth of market.

'With the global cancer cases burden increasing, research and development on advanced technologies is rising, creating revenue pool for the market across key regions,' says the FMI analyst.

Request a report sample with 250 pages to gain comprehensive insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-4191

Key Takeaways

  • Immunohistochemical (IHC) test to remain the most lucrative segment through 2031
  • In situ hybridization test to emerge as the potential segment through 2021 and beyond
  • US to hold the largest market share owing to the rising cancer cases and advancement in diagnostic technologies
  • Germany is spearheading Western Europe cancer tissue diagnostic market growth backed by highly developed manufacturing hubs
  • China concentrating on providing highly advanced medical care attracting suppliers in cancer tissue diagnostic industry, thus widening growth scope

Prominent Drivers

  • Rising cases of lung, breast, colon and prostate cancers has considerably improved the demand for cancer tissue diagnostics
  • High precision and accuracy of cancer tissue diagnostic tools to drive the market growth
  • Drug discovery and FDA support for biomarker development to create new expansion prospects for key players

Key Restraints

  • High cost of diagnostic imaging system and lack of skilled professionals restraining market growth
  • Risk of radiation and time-consuming tests to create a challenge for the market demand
  • Stringent regulatory guidelines and high hospital budgets posing a challenge to the key players

Discover more about the Cancer Tissue Diagnostics market with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.futuremarketinsights.com/ask-question/rep-gb-4191

Competitive Landscape

Prominent players featured in FMI's cancer tissue diagnostics market include Abbott Laboratories, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Ventana Medical Systems Inc., Bio Rad Laboratories Inc., Enzo Life Sciences Inc., Abcam PLC., BioGenex, Cell Signaling Technology Inc. and PerkinElmer Inc. among others.

Majority of these players are emphasizing on developing highly advanced techniques and mergers to generate new proceedings. In February 2021, Abingdon Health, a leading international developer and manufacturer of high quality and effective rapid tests, has signed a collaboration and co-marketing agreement with Abcam plc to establish a strategic collaboration to enable them to identify and maximize opportunities for rapid test development and manufacturing services.

Likewise, in 2019, Thermofisher Scientific collaborated with Owlstone Medical to advance the identification of novel biomarkers for an early disease detection enabled though discovery using non-invasive breath biopsy.

More Insights on FMI's Cancer Tissue Diagnostics Market

Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016-2020 and forecast from 2021-2031. The global cancer tissue diagnostics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on cancer tissue diagnostics market on basis of test type (immunohistocehmical test, and in situ hybridization test) across North America, Europe, East Asia, South Asia, Oceania and Middle East & Africa.

Contact Sales for Further Assistance in Purchasing this Report@ https://www.futuremarketinsights.com/checkout/4191

Explore FMI's Extensive Coverage on the Healthcare Domain

Lung Cancer Therapeutics Market: In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for lung cancer therapeutics. The report tracks the global sales of lung cancer therapeutics in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the industry.

Stomach Cancer Market: The global stomach cancer market report by FMI sheds light on the important growth dynamics expected to prevail across the 2021-2031 assessment period. Statistics of key segments have been provided across prominent geographies, along with a detailed mapping of the global competitive landscape, rendering this insight a highly effectual one.

Cancer Antigens Market: In its new report, the Future Market Insights (FMI) offers an exhaustive overview of the global cancer antigens market with focus on the key market dynamics, including drivers, trends, opportunities, restraints, and detailed information about the global cancer antigens market structure. The market study presents exclusive information about how the market will grow during the forecast period of 2021 to 2031.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact:

Mr. Abhishek Budholiya
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/cancer-tissue-diagnostics-market
Press Release Source: https://www.futuremarketinsights.com/press-release/cancer-tissue-diagnostics-market

SOURCE: Future Market Insights



View source version on accesswire.com:
https://www.accesswire.com/639108/Cancer-Tissue-Diagnostic-Equipment-Demand-Rising-in-Response-to-Increasing-Cancer-Cases-Future-market-Insights-Study

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