Cancer Tissue Diagnostics Market is expected to reach US$ 3,419.61 Mn in 2027
The global cancer tissue diagnostics market is expected to reach US$ 3,419.61 Mn in 2027 from US$ 2,025.41 in 2018. The market is estimated to grow with a CAGR of 6.2% from 2019-2027.
The market for cancer tissue diagnostics is expected to grow, owing to factors such as growing cancer prevalence across the globe, new product launches & FDA approvals and growing investments for tissue diagnostics are boosting the market over the years. In addition, the emerging markets in developing countries are likely to have a positive impact on the growth of the market in the coming years. However, factors such as high cost of cancer diagnostics are likely to have a negative impact on the growth of the market in the coming years.
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Cancer tissue diagnostic techniques are used to detect the tumor in the malignant tissues. In the last few years, immunohistochemistry (IHC) was used to increase the detection of specific antigens in the tumor tissue. The screening with the help of nonfluorescent chromogens is analyzed with conventional microscopy. There are recent techniques developed for cancer tissue diagnosis. Fluorescence in situ hybridization, the method is used for examination of a specific genetic abnormality in the genome. The hybridized deoxyribonucleic acid (DNA) is examined with particular probes.
The high cost of cancer diagnostics may restrain the growth of the market during the forecast period. Factors such as high costs involved in diagnosis as well as treatment have a restraining effect on the cancer tissue diagnostic market. Cancer diagnostics tests have become so pricey that ordinary people are unable to afford it. High out-of-pocket costs are barriers to potentially life-saving diagnosis or life-prolonging treatments. These sums up to high diagnosis cost, and thus, patients delay or avoid the diagnosis, which results as a barrier to treatment. According to the study by Marten group, the average out-of-pocket cost of a diagnostic mammogram can be $234 on average, while a breast MRI can cost patients $1,021 on average. Therefore, market players need to focus on developing new products that more cost-efficient than the existing ones in the market to gain potential growth.
Global cancer tissue diagnostics market is segmented by test type. On the basis of test type, the market is segmented into immunohistochemical tests and in situ hybridization tests. On the basis of type, immunohistochemical tests are further sub-segmented into breast cancer, colorectal cancer, prostate cancer, stomach cancer, and others. On the basis of type, in situ hybridization tests is further sub-segmented into breast cancer, lung cancer, bladder cancer, and others. In 2018, the breast cancer segment held the largest share in the market, by immunohistochemical tests.
Some of the major primary and secondary sources included in the report are, Food and Drug Administration, World Health Organization, Public Health Agency of Canada, International Agency for Research on Cancer, Canadian Breast Cancer Foundation, National Cancer Institute (NCI), National Institute of Cancer Prevention and Research (NICPR), Pancreatic Cancer Network South Africa, and others.
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