The tissue processing systems market is expected to reach US$ 493. 76 million in 2027 from US$ 335. 78 million in in 2019; it is estimated to grow at a CAGR of 5. 1%from 2020 to 2027. The growth of the tissue processing systems market is mainly attributed to the increasing prevalence of cancer and rising number of diagnostic laboratories.
New York, Jan. 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Tissue Processing Systems Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Product, Volume, and End User and Geography" - https://www.reportlinker.com/p06010108/?utm_source=GNW
However, the high cost of cancer diagnosis is restricting the market growth.
There is an increase in the number of diagnostic laboratories owing to rise in chronic conditions such as cancer, diabetes, and heart diseases.The US is characterized by the presence of major diagnostic laboratories.
In the country, the Centers for Medicare & Medicaid Services regulates all the laboratory tests performed on humans through Clinical Laboratory Improvement Amendments (CLIA).CLIA covers ~260,000 laboratories as of July 2020.
Quest Diagnostics is a leader in medical diagnostic industry offering diagnostic services in the US.It is the most extensive network in the US, with over 6,600 patient access points, which include phlebotomists in physician offices and over 2,250 of patient service centers.
Similarly, the presence of major players in Europe is likely to have a positive impact on the tissue processing systems market. The LADR network is composed of regional laboratories across Germany; ~3,000 employees work in its 16 reference laboratories, 31 hospital laboratories, and 34 basic and routine laboratories. The group serves more than 370 hospitals and over 20,000 private physicians. Thus, growing network of diagnostic laboratories favors the growth of the tissue processing systems market.
The tissue processing systems market, by product, is segmented into tissue transfer processors and fluid transfer processors.In 2019, the fluid transfer processors segment held a larger share of the market.
The tissue transfer processors segment is expected to register a higher CAGR in the market during the 2020–2027.On the basis of volume, the tissue processing systems market is segmented into small volume processors, medium volume processors, and large volume processors.
In 2019, the small volume processors segment held the largest market share in 2019, and the medium volume processors segment is anticipated to register the highest CAGR in the market during the forecast period.The market based on end user is segmented into hospitals, pharmaceutical companies, research laboratories, and others.
The hospitals segment held the largest share of the market in 2019.
The World Health Organization, National Health Service, Centers for Disease Control and Prevention, Centers for Medicare & Medicaid Services, and International Medical Travel Journal, along with company websites, are the major primary and secondary sources cited while preparing this report.
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