F. Hoffmann-La Roche Ltd. (Switzerland) and Danaher Corporation (US) are Leading Players in the Tissue Diagnostics Market
The global tissue diagnostics market is expected to reach USD 7.3 billion by 2027 from USD 5.3 billion in 2022, at a CAGR of 6.6% during the forecast period. The growth of this market is majorly driven by rising prevalence of cancer, growing demand for digital pathology, Increasing healthcare expenditure. However, Lack of skilled professionals, and availability of refurbished products are some of the challenges for which may hinder the growth of this market.
The tissue diagnostics market is consolidated and is dominated by various players. The key players operating in this market are F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (US), Thermo Fisher Scientific, Inc (US), Abbott (US), Agilent Technologies Inc. (US), Merck KGAA (Germany), SAKURA FINETEK JAPAN CO., LTD (Japan), Abcam Plc. (UK), Becton, Dickinson and Company (BD) (US), Bio SB (US), Biogenix (US), Cell Signaling Technology, Inc (US), Histo-Line Laboratories (Italy), SLEE Medical GMBH (Germany), and Hologic Inc. (US)
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F. HOFFMANN-LA ROCHE LTD
Roche accounted for the largest share of 27–30% of the tissue diagnostics market in 2021. Roche is a world leader in in vitro diagnostics and tissue-based cancer diagnostics. The company’s portfolio includes cancer tests and associated instruments, which makes it the leading global supplier of cancer diagnostic systems to the tissue diagnostics market. The company’s new launches were mainly focused on cancer diagnostics. The recent collaborations of Roche demonstrate its aim to expand its diagnostic business and increase accessibility for customers. The company invested USD 15.37 billion in R&D activities in 2021. The company’s extensive R&D enables it to enhance its technology, devices, and service capabilities. A significant focus on R&D activities also helps the company provide innovative products, maintain, and improve its competitive position in the tissue diagnostics market. With its broad product portfolio, strong marketing efforts, and a wide geographic presence, the company is expected to grow at a high rate in the tissue diagnostics market during the forecast period
DANAHER CORPORATION
Danaher Corporation is an important player in the tissue diagnostics market. It accounted 22 – 25% share to the tissue diagnostics market in 2021. Its subsidiary, Leica Biosystems, offers a portfolio from biopsy to diagnosis across radiology, pathology, surgery, and oncology. In 2021, the company spent USD 1.742 billion on R&D. Furthermore, it is focused on opportunities to extend its global reach and advance its technology; in 2021, around 64.2% of Danaher’s sales were derived from customers outside North America. This highlights its strong presence and focuses on high-growth markets across Eastern Europe, the Middle East, Africa, Latin America, and Asia.
Related Reports:
Tissue Diagnostics Market by Product(Antibodies, Kits, Slide Staining System, Tissue Processing System), Technology(ISH, IHC, Special Staining), Disease(Breast Cancer, NSCLC, Lymphoma), End User (Hospitals, Research Laboratories) - Global Forecast to 2027
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