Tissue Diagnostics Market projected to grow at a CAGR of 6.9% and Forecast 2019-
Posted by Faraz on January 17th, 2020
The global tissue diagnostics market is projected to grow at a CAGR of 6.9% during the forecast period (2018-2023). Cancer is one of the causes of huge loss to cost and life across the globe. As per the WHO, cancer is considered the second most lethal form of diseases across the globe. This is propelling the government to focus on the discovery of better treatment and diagnosis of the cancer disease. Also, the rising need for better treatment has led to higher investment in R&D by the major players of industries such as Ventana Medical Systems, Roche, and Siemen and so on.
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The key players of the global tissue diagnostic market include Abbott Laboratories, Roche Holdings AG, Biogenex Laboratories, Bio SB, Agilent Technologies Cell Signaling Technology, Danaher Corporation, Sigma-Aldrich, Thermo Fisher Scientific, Qiagen, Becton Dickinson & company, Alere
There are some of the products being launched in the global tissue diagnostics market in the recent past. For instance, in May 2017, the US FDA announced accelerated approval to a treatment for patients whose cancers have a specific genetic feature. It was the first time that cancer treatment has been approved which was based on a common biomarker rather than the location in the body where the tumor originated. The approved drug is Keytruda (pembrolizumab) by Merck. Earlier to this, the FDA approved biomarkers based on the treatment of the body part, as an instance breast and lung cancer.
In May 2016¬, Roche got approval for the VENTANA PD¬L1 (SP142) Assay by the US FDA. It was approved as a complementary diagnostic to provide PD¬L1 status on patients. It is beneficial for the people who are considering treatment with the Roche immunotherapy TECENTRIQ (atezolizumab) for metastatic urothelial cancer. PD¬L1 status of the patient is evaluated by using immune cell staining and scoring within the tumor microenvironment. It provides that data to the clinicians, which may aid in immunotherapy decisions. In 2016, Epizyme entered into a collaboration with Genentech to conduct a clinical trial to examine the combination of Genentech’s recently approved anti-PD-L1 cancer immunotherapy and tazemetostat. In addition, the company also has collaborations with Eisai, Lysa, Roche, Celgene, and GSK.
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Significant R&D in proteomics has been observed in recent years that are expected to greatly boost the global tissue diagnostic industry in recent times. Researches in the area of life sciences have spurred the exploration of various application areas of tissue diagnostics. A non-exhaustive list of R&D conducted by key market players is enhancing the scenario of healthcare services across the globe. R&D in medication, surgeries and devices led to the development of a more innovative and enhanced system than before. This attracts a pool of healthcare providers to opt for that particular system; thereby, leading to the growth of the global tissue diagnostic market during the forecast period.
Global Tissue Diagnostics Market - Segment
Global Tissue Diagnostics Market - Regional
Rest of the World
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About the AuthorFaraz
Joined: November 26th, 2019
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