Research associations and other medical bodies are making various attempts to conduct clinical trials to develop suitable anti-COVID drugs or testing devices, which is anticipated to fuel the growth of the tissue diagnostics market.
COVID-19 positively impacted the market due to a growing demand for high-throughput and sequencing-based diagnostic tests. For instance, Brooks Automation’s Life Science segment reported USD 199.6 million in revenue in 2021, compared to USD 129.8 million in 2020, with an increase of USD 69.8 million (54%). Likewise, in 2021, the revenue of Roche Diagnostics increased by 28% due to COVID-19.
For More Info, Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1063949
The expansion of this market is majorly due to rising prevalence of neoplastic cases as well as high demand of oncology screening, However, Lack of skilled professionals is one of the challenge for which may inhibit the growth of this market.
The number of cancer screening and diagnostic procedures declined precipitously, with countries worldwide being affected by the pandemic. An initial analysis of the US market shows that newly diagnosed metastatic non-small-cell lung cancer patient volumes have declined just over 30% from February 2020 to March 2020—this represents a major decline in just one month.
In conclusion, the emergence of new variants of COVID will increase the demand for new clinical trials to identify and evaluate the effectiveness of drugs against COVID-19 during the forecast period.
The demand for excised human tissue is increasing due to the growing awareness regarding personalized medicines, which depend on excised human tissue to create an innovative test for application in patient care. The demand for personalized medicine in the treatment of many disorders, mainly cancer, is increasing with the advancements in diagnostic tools.
Some of the major players operating in Tissue Diagnostics 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).