F. Hoffmann-La Roche Ltd (Switzerland) and Danaher Corporation (US) are Leading Players in the Tissue Diagnostics Market
The global tissue diagnostics market is projected to reach USD 8.4 billion by 2028 from USD 5.6 billion in 2023, at a CAGR of 8.4 % during the forecast period. The tissue diagnostics market is driven by the rising prevalence of cancer, growing demand for digital pathology, and increasing healthcare expenditure. The top players in this market are F. Hoffmann-La Roche (Switzerland), Danaher Corporation (US), and PHC Holdings Corporation (Japan). These players hold leading positions in the market owing to their broad product offerings in the tissue diagnostics market. These mentioned players have undertaken various organic and inorganic growth strategies such as product launches and approvals, collaborations, acquisitions, and agreements to retain their position in the market.
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F. Hoffmann-La Roche Ltd (Switzerland)
Roche accounted the largest share in the tissue diagnostics market in 2022. It is research-based healthcare company that provides innovative diagnostics & therapeutic products and services to patients and healthcare professionals. The company invested USD 16.79 million in R&D activities in 2022. The company’s main focus on product development and launches and it helps company to maintain its market position. In March 2023, Roche received approval from the US FDA for the VENTANA PD-L1 (SP263) Assay. This diagnostics tool is now designated as a companion diagnostics, specifically for identifying eligible Non-small Cell Lung Cancer (NSCLC) patients.
Danaher Corporation
Danaher Corporation is an important player in the tissue diagnostics market. It accounted 21.5 % share to the tissue diagnostics market in 2022. The company offers tissue diagnostics products through its subsidiary Leica Biosystems, which is a cancer diagnostics company and provides workflow solutions. In 2022, the company spent USD 1.745 million on R&D. Furthermore, it is focused on opportunities to extend its global reach and advance its technology; in 2022, around 49% of Danaher’s diagnostics business sales were derived from customers outside North America. The company has its strong presence and focuses on high-growth markets across the globe.
PHC Holdings Corporation (Japan)
PHC Holdings corporations operates geographically in more than 125 countries across North America, Europe, Asia Pacific Latin America, And Middle East & Africa.The company’s main focus on inorganic strategies which helps it to maintain its market position. In March 2023, Epredia, a subsidiary of PHC, collaborated with 3DHISTECH to open a Pathology Innovation Incubator in Budapest to develop methods and equipment for faster and more precise diagnosis of cancer and tumor lesions. This collaboration focuses on developing immunohistochemical (IHC) tests for Cancer diagnostics applications.
Related Reports:
Tissue Diagnostics Market by Product (Consumables (Antibodies, Reagents, Tissue, Probes), Instrument (Processing System, Scanner)), Technology (ISH, IHC, Slide Staining), Disease Type (Breast Cancer, Lymphoma, Prostate Cancer) - Global Forecast to 2028
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