About the Report
Rise in cases of lung, breast, colon, and prostate cancers has significantly catered to the demand growth for cancer tissue diagnostic solutions in the past years. While the outbreak of the pandemic affected the sales of suppliers due to the shifted demand and focus of end users, the constant requirement for reliable diagnosis of cancer is what helped the industry players in sailing through the temporary crisis back in 2020.
The latest edition of the market study on ‘cancer tissue diagnostics’ by Future Market Insights (FMI) offers an in-depth analysis of the global cancer tissue diagnostics industry along with the new trends, crucial factors, and demand-supply patterns around the globe during the forecast year from 2021 to 2031. According to the report, North America will hold the major share in the global industry while Western Europe, APEJ (Asia Pacific Except Japan), and a few other lucrative regions will drive the sales.
Historical Vs. Future Outlook on Cancer Tissue Diagnostics
Cancer tissue diagnostic solutions being highly efficient in early and precise detection of various type of cancers such as lung cancer, prostate cancer, breast cancer, to name a few, gained fast traction in the past decade. While initiatives taken by various governmental and non-profit organizations boosted the sales of suppliers, increase in investment in order to bring in more advanced diagnostic solutions by key players further aided in the industry growth during 2016 to 2020.
Prevalence of lung, breast, liver, and other cancers coupled with the advancement in medical and diagnostic sectors is fuelling the sales of cancer tissue diagnostics equipment. Additionally, increase in government investment on various health and diagnosis scheme and growing awareness regarding early diagnosis of cancer are boosting the growth in this industry. According to FMI, the global cancer tissue diagnostics industry is predicted to expand at over 8.5% CAGR through 2031.
How Rise in Rate of Cancers is Boosting the Growth of Cancer Tissue Diagnostic Equipment Manufacturers?
According to the report titled “Global Cancer Data by Country” published by the World Cancer Research Fund, the age-standardized rate for all cancers (including non-melanoma skin cancer) for men and women combined was 197.9 per 100,000 in 2018, while the rate was higher for men (218.6 per 100,000) than women (182.6 per 100,000).
As per the data revealed in the report, around 40% of cancer cases could be prevented by reducing exposure to cancer risks factor, while early diagnosis is of utmost importance in order to get timely treatment.
The World Health Organization (WHO) has recently launched ‘Global Cancer Observatory’, an interactive web-based platform presenting global cancer statistics to inform cancer control and research, which comprises of-
- Cancer Today- data visualization tools
- Cancer Tomorrow- predicts future cancer incidence and mortality burden worldwide
- Cancer Overtime- data visualization tools documenting the ongoing developments
- Cancer Causes
- Cancer Survival
- Cancer Stories
Such initiatives not only are spreading awareness but also paving new paths for cancer tissue diagnostic equipment suppliers.
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What are the Key Challenges Faced by Cancer Tissue Diagnostic Equipment Suppliers?
Though cancer tissue diagnostic tools are highly efficient in precise and timely detection of cancers, lack of knowledge and awareness is still an issue for the industry players. According to the report titled “Cancer Statistics” published by the National Cancer Institute on 25th September, 2020, an estimated 1,806,590 new cases of cancer were diagnosed in the United States, while 606, 520 people died from it including the ones diagnosed at the last or not too early stages.
Also, the outbreak of COVID-19 pandemic has affected the manufacturing process of cancer tissue diagnostic equipment due to the unexpected shutting down of manufacturing hubs, unavailability of labors, disrupting logistics sector, and other factors in 2020.
However, the effect of the pandemic is subsiding gradually, and with the increase in number of awareness campaigns and initiatives, players in the cancer tissue diagnostics industry are expected to overcome the restraints in the near future.
What are the Key Driving Factors for the United States Cancer Tissue Diagnostics Industry?
The United States has been holding the major share of the world’s mostly lucrative industry for cancer tissue diagnostic solutions, North America. The increase in number of cancer cases and advancements in diagnostic technologies are catering to the growth of stakeholders in the U.S. industry.
As stated in the report titled “How Common is Breast Cancer?- Breast Cancer Statistics” published by the Cancer Organization on 12th January, 2021, breast cancer is the most common cancer in American after skin cancer, while the average risk of a woman in the United States developing breast cancer in her life is nearly 13%.
According to the report titled “Lung Cancer Fact Sheet” published by the American Lung Association, approximately 541,000 Americans living today have been diagnosed with lung cancer at some point in their lives, while an estimated 234,030 new cases of lung cancer were diagnosed in 2018.
These data reveal the high growth scope of the U.S. cancer tissue diagnostics industry for suppliers and stakeholders.
Why is Germany Witnessing Impressive Demand Growth in its Cancer Tissue Diagnostics Industry?
Germany is the leading industry for cancer tissue diagnostics in Western Europe and likely to dominate over the forecast period. Highly developed manufacturing hubs and rise in awareness regarding early diagnosis of cancer are spurring the growth in Germany.
The ‘Oral Cancer Awareness Campaign’ was launched in Northern Germany a few years back by the National Center for Biotechnology Information (NCBI) in order to promote the necessity of prevention, early detection, and treatment of oral cancers.
According the report published by the World Cancer Research Fund, the age-standardized rate for cancer per 100,000 in Germany is 313.1 which includes lung, breast, prostate, and other type of cancers. These statistics denote the growing opportunities for cancer tissue diagnostic equipment manufacturers in Germany.
What’s Pushing the Demand-Supply Curve for Cancer Tissue Diagnostic Solutions Upward in China?
Backed by the highly developed medical and diagnostic sectors, China is drawing the attention of suppliers in the global cancer tissue diagnostics industry. The increase in cancer cases is further bolstering the growth of stakeholders in China.
According to the report titled “Cancer Burden and Trends in China” published by the NCBI in 2020, about 4,285,033 new cancer cases were diagnosed in China in 2018, which included 2,366,010 males and 1,919,023 females. As stated in the report, the crude and age-standardized mortality rates were 201.3 and 130.1 per 100,000 for males and females respectively. With these numbers forecast to rise further, China is set to remain the hotspot for players in the cancer tissue diagnostics industry.
Will Japan Cancer Tissue Diagnostics Industry Attract More Stakeholders in the Coming Years?
Japan has been another lucrative industry for cancer tissue diagnostics since the past decade. Growing requirement for diagnosis of lung, breast, prostate and other cancers and advanced diagnostics sector are driving the growth in Japan.
As per the data published in the “Global Cancer Data by Country” report by World Cancer Research Fund, the age-standardized rate of cancer per 100,000 in Japan is 248.0, while the most commonly occurring cancers in Japan are breast cancer, lung cancer, stomach cancer, colorectum cancer, and prostate cancer. Cancer tissue diagnostic solution is highly sought-after in detecting these cancers, and hence the players in this industry are subject to higher revenues in the coming years.
Which Test Type Has High Demand in the Cancer Tissue Diagnostics Industry?
Currently, immunohistochemical (IHC) test and in situ hybridization (ISH) test are the most lucrative segments in the global cancer tissue diagnostics industry in terms of test type. IHC test has a lot of advantages such as-
- IHC is readily available and well-established
- Have fast turn-around time
- Both fresh and frozen tissue samples can be used
And others. As a result, this test type is set to remain dominant through 2031.
The global cancer tissue diagnostics market is strictly competitive. In order to increase their sales footprint, key market players are focusing on developing wider variety of products. For instance,
- Abcam Plc. launched its new Immunotherapy Biomarkers, Breast Cancer Biomarkers, and others a couple of years back
- Enzo Life Sciences, Inc. launched its new POLYVIEW® PLUS HRP-DAB kit, new range of IHC Solutions, and others during the last 5 years
Some of the key players providing cancer tissue diagnostic solutions are-
- 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.
- Cell Signalling Technology, Inc.
- Agilent Technologies, Inc.
- PerkinElmer Inc.
- Bio SB
- Cancer Genetics Inc.
- Danaher Corporation
- ROSETTA GENOMICS
- Nanoprobes, Inc.
- Enzo Life Sciences, Inc.
- Sigma-Aldrich Co., LLC
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report
Historical Data Available for
USD Million for Value
Key Regions Covered
North America, Latin America, Europe, South Asia, East Asia, the Middle East & Africa, and Oceania
Key Countries Covered
US, Canada, Germany, U.K., France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa
Key Segments Covered
Test Type and Region
Key Companies Profiled
Market Forecasts, Brand Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Key Questions Answered in Report
Which are the top companies providing cancer tissue diagnostic solutions?
Some of the top companies providing cancer tissue diagnostic solutions are Bio SB, Cancer Genetics Inc., Danaher Corporation, and BioGenex.
Which are some of the lucrative markets for cancer tissue diagnosis?
The United States, Germany, the United Kingdom, China, Japan, India, South Korea, and a few others are lucrative markets for cancer tissue diagnostics, and are expected to dominate throughout the forecast period.
Which test types account for high sales of cancer tissue diagnostic equipment?
Presently, immunohistochemical (IHC) and in situ hybridization (ISH) tests are most lucrative segments in terms of test type, and are expected to remain dominant over the forecast period of 2021 to 2031.
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Segmentation by Category
- Immunohistochemical (IHC) Test
- Breast Cancer
- Stomach (Gastric) Cancer
- Colorectal Cancer
- Prostate Cancer
- In Situ Hybridization (ISH) Test
- Breast cancer
- Non-Small Cell Lung Cancer (NSCLC)
- Bladder Cancer
- North America
- Latin America
- Middle East and Africa (MEA)
- East Asia
- South Asia