A recent report ongoing study by Infinium Global Research on the tissue diagnostic market provides an in-depth analysis of segments and sub-segments in the GCC as well as regional tissue diagnostic market. The study also highlights the impact of drivers, restraints, and macro indicators on the GCC and regional tissue diagnostic market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the GCC tissue diagnostic market. According to the report, the GCC tissue diagnostic market is projected to grow at a significant CAGR over the forecast period of 2022-2028.
Tissue diagnostic techniques are been used to understand the preserved antigens in the specific tissues. Tissue diagnostics includes monitoring, diagnosis, and management at different stages of cancer, especially breast cancer, prostate cancer, and gastric cancer, among others. The increasing occurrence of cancer, improving infrastructure for cancer diagnostics, increasing healthcare spending, and various technological advancements in the tissue diagnostics field are a few of the vital factors fueling the growth of the global tissue diagnostic market. Tissue-based diagnostic testing continues to serve as one of the gold standards for cancer diagnosis. There is no other technology that can capture the biological context of the disease and the critical parameters that factor into patient outcomes. The tissue diagnostic market contains two submarkets with distinct market characteristics, the pre-analytical and routine staining market and the advanced staining market.
The COVID-19 pandemic has had a huge impact on the healthcare provided. The COVID-19 pandemic has had a significant effect on pathology diagnostics in 2020. The largest decrease was seen during the first lockdown when the number of pathology reports declined up to 88% and almost all specimen types were affected. Hospitals had to postpone much of the non-urgent medical care to cope with the increasing numbers of COVID-19 patients. The COVID-19 outbreak has had a major impact on clinical microbiology laboratories in the past several months. Tissue Diagnostic testing remains the backbone of the coronavirus disease 2019 (COVID-19) response, supporting containment efforts to mitigate the outbreak. Chest CT plays a crucial role in the diagnosis and follow-up of patients with COVID-19 pneumonia.
The key factors driving the growth of the tissue diagnostic market size are the increasing rate of cancer patients and awareness related to the disease, advancements in technology, rising number of diagnostic tests that are being conducted, increasing investments by pharmaceutical companies, and growing geriatric population, and surging healthcare expenditure. Lack of awareness regarding tissue diagnostics in emerging economies is the key factor that might hinder market growth. The increased number of biopsy procedures is likely to provide lucrative opportunities for the growth of the tissue diagnostic market, in the forecasting period.
Among the geographies, the GCC tissue diagnostic market is segmented into Saudi Arabia, Kuwait, UAE, Qatar, Bahrain, and Oman. Saudi Arabia accounted for the majority of the market share of the GCC tissue diagnostic market in 2020 and is anticipated to remain dominant throughout the forecast period. Saudi Arabia is the fastest growing economy in the middle east of the world. Moreover, the government has increased its attention to the medical sector. People’s unhealthy lifestyles and cancer patients are also increasing at a rapid pace boosting the tissue diagnostic market in this region.
The report on the GCC tissue diagnostic market covers segments such as product, technology, and application. On the basis of product, the sub-markets include accessories, and instruments. On the basis of technology, the sub-markets include digital pathology and workflow, special staining, in situ hybridization, and immunohistochemistry. On the basis of application, the sub-markets include non-small cell lung cancer, prostate cancer, gastric cancer, breast cancer, and lymphoma.
The report provides profiles of the companies in the market such as ABDULLA FOUAD group, Al Borg Medical Laboratories, Zahrawi Group, F. Hoffmann-La Roche Ltd, Prognica Labs Tech FZCO, Becton Dickinson & Company, Siemens Healthcare, Johnson & Johnson, GE Healthcare, and Abbott Laboratories.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the tissue diagnostic market. Moreover, the study highlights current market trends and provides forecasts for 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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