Market Challenges And Opportunities

Rising prevalence of different cancer incidences is major driving factor boosting the tissue diagnostic market. According to American cancer Society (ACS), 1.6 million new cases of cancer diagnosed in the U.S., in 2016. In addition, increase research funding in cancer treatment and growing healthcare expenditure likely to show gradual rise in tissue diagnostic market. National Cancer Institute, in 2015, spends US$ 4,480 million on various types of cancer research which includes breast cancer, colorectal cancer, cervical cancer, liver cancer, lung cancer, leukemia, ovarian cancer and uterine cancer.

Rise in the prevalence of cancer incidences to boost the tissue diagnostic market

According to the United States Cancer statistics report published in 2014 by Centers of Disease Control and Prevention (CDC), between 1999 and 2014, more than 1600 people a day, died due to the cause of cancer. Although screening tests helps to detect cancer condition at early stage, data from Healthy People 2020, an initiative form Department of Health and Human Services, reveals that screening rate is still below the national targets set. Combined data collected from CDC and National cancer institute (NCI) focus on the top 3 cancer incidences in male and female. In male prostate cancer incidence are higher, while in females breast cancer are most dominated, followed by lung and colon cancer respectively in both male and female.

New and advanced methods of tissue diagnosis favors the market growth

Innovation in tissue diagnostic process for the efficient diagnostic testing such as Fluorescence in situ hybridization (FISH), Immunohistochemistry (IHC) and In situ hybridization (ISH) raises the opportunity to grow tissue diagnostic market in future. In September 2017, researchers at the University of Texas, developed a new way of diagnosis by creating pen named as “MasSpec Pen”, which is handheld devices able to distinguish healthy tissue and tumor tissue in just 10 seconds, more than 150 times quicker than existing technology. These new tool provides improvement in cancer treatment and minimizes the chances of recurrence by offering precise diagnostic information, which eventually favors the growth in tissue diagnostic market.