According to The Insight Partners study on”Tissue Sectioning Market to 2028 – COVID-19 Impact and Global Analysis– by Product, Technology, Application, End-User, and Geography,” the market is projected to reach US$ 904.86 million by 2028 from US$ 580.29 million in 2021; it is expected to grow at a CAGR of 6.6% during 2021–2028. The market growth is mainly attributed to the increasing prevalence of chronic diseases and the rising adoption of personalized medicine. However, the lack of skilled professionals hampers the market growth.
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|Market Size Value in||US$ 580.29 million in 2021|
|Market Size Value by||US$ 904.86 million by 2028|
|Growth rate||CAGR of 6.6% from 2021 to 2028|
|No. of Pages||181|
|No. of Charts & Figures||78|
|Historical data available||Yes|
|Segments covered||Product, Technology, Application, and End User, and Geography|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEA|
|Country scope||US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
In 2020, North America dominated the global tissue sectioning market. The market growth in the region is majorly driven by the increasing investments and initiatives by market players and governments. The tissue sectioning market players are actively involved in numerous business development activities such as product launches and partnerships. For instance, in October 2020, Sakura Finetek Europe launched its latest innovation Tissue-Tek SmartConnect. It is an automated transfer system that creates a continuous flow between the SMART solutions Tissue-Tek Xpress x120 Rapid Tissue Processor and Tissue-Tek AutoTEC a120 Automated Embedding System. Thus, continuous efforts and investments by the market players to uplift the production and sales of their products in the domestic and international markets to address the rising demands are driving the tissue sectioning market.
The COVID-19 pandemic has disrupted the socioeconomic conditions of various countries across the world. The high number of COVID-19 cases has negatively impacted the global economy, and there has been a decline in overall business activities and growth of various industries operating in the region.
There have been various factors, including increased incidence of COVID-19 positive patients, growth in research, rise in production of vaccines, outcome study of administered vaccines, and many other factors. For instance, research was conducted by the College of American Pathologists to report demographic and radiographic features in the lungs of patients infected and deceased with fatal COVID-19. All autopsies were performed at the College of American Pathologists. The study revealed that patients infected with COVID-19 not only have diffuse alveolar damage but also commonly have acute bronchopneumonia and aspiration pneumonia. The cases majorly led to the demand for diagnostic tests in the countries like the US, Canada, and Mexico. Thus, the tissue sectioning market in North America is positively impacted by COVID-19.
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Rising Adoption of Personalized Medicine to Drive Tissue Sectioning Market
Personalized or precision medicine has become the hallmark of treatment for a number of severe diseases and has expanded to other fields with its application. It is a constantly emerging approach to customizing therapies based on patients’ genetic accumulation. These technological advancements have led to tissue sectioning approaches that achieve better results with the available resources in less time. For the prevention and efficient treatment of a disease, personalized medicines are mandatory tools, especially in oncology and nephrology cases. The rapidly increasing cancer cases are indirectly contributing to the growth of the tissue sectioning market.
For instance, as per the WHO, cancer is a leading cause of death worldwide, accounting for nearly 10 million demises in 2020. Lung cancer, liver cancer, blood cancer, and breast cancer are some of the most common cancer types. Between 30% and 50% of cancers can currently be prevented through early cancer diagnosis and appropriate treatment and care of patients. Many cancers have a high chance of being cured if diagnosed early and treated appropriately, stated the WHO. The increasing use of personalized medicine has prompted an increment in demand for human tissue use to foster innovative tests.
Tissue Sectioning Market: Segmental Overview
Based on product, the tissue sectioning market is categorized into instruments, accessories & consumables, and services. The instruments segment accounted for a larger share of the market. The instrument segment is sub-segmented into rotary microtome, sliding microtome, ultramicrotome, cryostat, and others.
Based on technology, the tissue sectioning market is segmented into automatic, semiautomatic, and manual. The automatic technology segment would hold the largest share of the market in 2021, and the same segment is estimated to register the highest CAGR of 7.0% during the forecast period.
Based on application, the tissue sectioning market is segmented into diagnosis and research. In 2021, the diagnosis segment would hold the largest share of the market. Moreover, the research segment is expected to grow at the fastest CAGR of 7.2% from 2021 to 2028.
Based on end user, the global tissue sectioning market is segmented into hospitals, clinics, diagnostic laboratories, digital path labs, and others. In 2021, the hospitals segment would hold the largest share of the market. However, the diagnostic laboratories segment is also expected to grow at the fastest CAGR of 7.1% from 2021 to 2028.
Tissue Sectioning Market: Competition Landscape and Key Developments
Thermo Fisher Scientific; Leica Biosystems Nussloch GmbH; LLS ROWIAK LaserLabSolutions GmbH; Sakura Finetek Europe B.V; Diapath S.p.A.; Histo-line Laboratories; Medite Medical GmbH; SLEE medical GmbH; Abcam plc; and Amas Scientific Pty Ltd are among the major players operating in the market. Leading market players adopt strategies such as the launch of new products, expansion and diversification of market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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