Cancer Tissue Diagnostics Market is expected to reach US$ 3,640.87 million by 2028

Publisher: The Insight Partners

The cancer tissue diagnostics market is expected to reach US$ 3,640.87 million by 2028; registering at a CAGR of 6.2% from 2022 to 2028, according to a new research study conducted by The Insight partners

Immunohistochemical Tests Segment to Hold Larger Share of Cancer Tissue Diagnostics Market During 2022–2028

The report highlights trends prevailing in the market and factors governing its growth. Growing cancer prevalence across the world, new product launches & FDA approvals, and rising investments in tissue diagnostics are driving the market growth. However, high cost of cancer diagnostics hampers the growth of the market.

Based on test type, the cancer tissue diagnostics market is segmented into immunohistochemical tests and in situ hybridization tests. In 2022, the immunohistochemical tests segment held a larger market share. In addition, the market in the same segment is expected to grow at a faster rate in the coming years, owing to the cost-effectiveness of the technique. Immunohistochemical (IHC) test is a staining process done on fresh or frozen cancer tissues removed in the biopsy procedures. IHC examines protein expression with the help of specially labelled antibodies that binds to the proteins of interest. The antibody is mixed with the cellular parts of the tumor. IHC helps detect whether the breast cancer cells have human epidermal growth factor receptor 2 (HER2) receptors on its surface. This information is crucial in planning cancer treatment.

In this test, monoclonal and polyclonal antibodies are used to detect specific antigens in tissue sections. Hence, this is an extraordinarily powerful tool for the diagnostic surgical pathologist. IHC is majorly used to diagnose cancers. In cancer, particular tumor antigens are detected. In June 2022, Roche announced the launch of the BenchMark ULTRA PLUS system, its newest advanced tissue staining platform. The system enables quick and accurate test results so clinicians can make timely decisions regarding a patient’s care journey. These factors are anticipated to propel the demand for cancer tissue diagnostics during the forecast period.

Growing Cancer Prevalence Worldwide Drive Market Growth

Cancer is one of the leading causes of death across the world and is profoundly affecting the quality of life. Thus, cancer prevalence becomes a burden on society if not diagnosed and treated on time. According to the American Cancer Society, in 2022, ~ 1.9 million new cancer cases diagnosed, and 609,360 deaths were reported in the US. Furthermore, as per World Cancer Research Fund International, ~ 18.1 million cancer cases were diagnosed around the world in 2020.

Most Prevalent Forms of Cancers Globally, 2020

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Source: The World Health Organization and The Insight Partners Analysis

Additionally, cancer is commonly prevalent in European countries. As per Macmillan Cancer Support, in 2022, in UK around 3 million people living with cancer which is expected to reach 3.5 million by 2025 and 5.3 million by 2040. Furthermore, Asia Pacific is facing a growing prevalence of cancer. Top 15 countries in the region with cancer prevalence are Japan, Taiwan, Singapore, South Korea, Malaysia, Thailand, China, the Philippines, Sri Lanka, Vietnam, Indonesia, Mongolia, India, Laos, and Cambodia. According to the National Cancer Registry Programme of the Indian Council of Medical Research (ICMR), estimated cancer mortality is increased to 14,26,447 in 2021 and 14,61,427 in 2022 in India.

These statistics determine an increase in the demand for advanced cancer diagnostics in various regions across the world, driving the growth of the cancer tissue diagnostics market.

F. Hoffmann-La Roche Ltd; Thermo Fisher Scientific Inc; Bio Rad Laboratories Inc; Abbott; Enzo Life Sciences, Inc; Agilent Technologies Inc; Cancer Genetics Inc; Merck KGaA (Sigma-Aldrich Co. LLC); Danaher Corporation; and Abcam plc. are among the leading companies operating in the cancer tissue diagnostics market. 

The report segments the global cancer tissue diagnostics market as follows:

The cancer tissue diagnostics market is bifurcated on the basis of test type and geography. Based on test type, the market is segmented into immunohistochemical tests and in situ hybridization tests. Based on geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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