Tissue Diagnostics Market Size

Tissue Diagnostics Market Analysis

The Tissue Diagnostics Market size is estimated at USD 6.05 billion in 2024, and is expected to reach USD 8.34 billion by 2029, growing at a CAGR of 6.64% during the forecast period (2024-2029).

COVID-19 significantly impacted the growth of the market studied, as there was a decrease in the volume of cancer diagnosis and treatment procedures due to several restrictions laid down by various healthcare authorities to cancel non-urgent and elective surgical procedures. For instance, according to the 2022 update by the National Health Service (NHS) of the United Kingdom, a decline in cancer diagnostic and treatment procedures was observed during the pandemic owing to a sharp drop in urgent referrals as people needed to stay at home due to the lockdown restrictions. However, according to the research published in May 2023 in Pathogens Journal, researchers reported that they detected the SARS-CoV-2 RNA in lung-cancer cells metastatic to the brain and adjacent brain parenchyma in a 63-year-old male patient with COVID-19 using tissue diagnostic technique. The pandemic had a significant negative impact during the pandemic. However, due to its advantages in diagnosing diseases, the demand for tissue diagnostics increased for several applications during the pandemic.

Tissue-based diagnostics serve as one of the most essential cancer diagnosis techniques, which are extensively used in the oncology field. With the growing burden of cancer, the demand for tissue diagnostics is also projected to increase. For instance, according to the October 2022 report of Macmillan Cancer Support, the incidence of cancer in the United Kingdom (UK) was growing, and the number of people living with cancer in the UK was projected to increase from 3.5 million in 2025 to 4 million by 2030. As per the source mentioned above, the incidence of cancer in the UK has risen by about 19% in the last decade, and the key factors responsible for this significant increase are the growing and aging population, cancer awareness, and improvement in the cancer diagnosis infrastructure in the country.

According to the July 2023 update of the Institut National Du Cancer, more than 433 thousand new cancer cases will be reported in France in 2023, of which 57% will be men and 43% women. As per the same source, the top three most prevalent forms of cancer in men were prostate, lung, and colorectal, respectively. Similarly, in women, breast cancer was the most prevalent form of cancer, followed by colorectal and lung cancer. Hence, the increasing prevalence of cancer is expected to drive the demand for tissue diagnostics instruments and reagents.

The companies in the area are investing heavily in the research and development and enhancement of tissue diagnostics technology, which is expected to increase its accuracy and introduce novel products. This is expected to boost the adoption and usage of tissue diagnostic products, thereby driving the market over the forecast period. For instance, in July 2023, Quest Diagnostics, in collaboration with Envision Sciences, launched a novel prostate cancer biomarker test in tissue through its subspecialty pathology business, AmeriPath. The new, tissue-based test service is intended to address the pressing clinical need for tests to help identify and differentiate potentially aggressive cases of prostate cancer in men.

Therefore, the growing prevalence of cancer, technological advancements, and the launch of new devices are projected to drive the growth of the tissue diagnostics market during the forecast period. However, the high diagnostics cost and reimbursement issues are expected to restrain the market studied.