Surging Prevalence of Cancer to Offer Tissue Processor Equipment US$ 681 Mn Market Opportunity by 2032

What do Growing Personalized Medicines Demand Mean for Tissue Processor Equipment Market Players?

Fact.MR's latest report uncovers details on concealed opportunities in the tissue processor equipment market. It delivers insights into vital factors favoring demand across various segments in terms of component, industry, and region. Besides, the report predicts growth prospects of the tissue processor equipment market for the forecast period (2022-2032).

NEW YORK, July 12, 2022 /PRNewswire/ -- With a CAGR of 4.8%, the global tissue processor equipment market is expected to grow from US$ 426.30 Million in 2022 to US$ 681 Mn by the end of 2032.

Rapidly increasing health problems and evolution of viruses and infections are anticipated to augur well for the global market. Emergence of mutants have also created high demand for novel devices to accurately monitor patients' illnesses.

Ability of tissue processor equipment to help surgeons with early diagnosis and initiate quick treatment procedures is expected to escalate the market across the globe. Increasing geriatric population susceptible to several lifestyle diseases, including diabetes, is another vital factor that would push sales of tissue processor equipment in the upcoming decade.

Furthermore, increasing cases of cancer globally are expected to strengthen the tissue processor equipment market in the assessment period. As per the World Health Organization (WHO), in 2020, nearly 10 million deaths occurred because of cancer across the globe. 

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Also, governments of various countries are taking numerous initiatives to provide affordable healthcare solutions that are expected to drive growth in the forecast period (2022 to 2032). They are providing funds to pharmaceutical companies to develop new tissue processor equipment at a relatively low cost.

Demand for personalized medicines is projected to surge the pressure on histopathologists worldwide. High demand from research labs, hospitals, and pharmaceutical companies for tissue processing systems is also anticipated to accelerate the expansion of the tissue processor equipment market globally.

Besides this, rising demand for various types of tissue grafts in neurosurgery and orthopedics is expected to influence growth in the tissue processor equipment market during the evaluation period.

Key Takeaways:

• North America tissue processor equipment market is expected to account for nearly 28.4% of share by the end of 2022.
• Europe is anticipated to generate a tissue processor equipment market share of approximately 30.4% in 2022.
• Based on industry, hospitals, pharmaceutical businesses, and diagnostic laboratories are expected to exhibit high growth with surging number of histopathologists globally.
• The global tissue processor equipment market is estimated to register a CAGR of 4.8% in the assessment period from 2022 to 2032.
• The tissue processor equipment market is expected to be valued at US$ 681 Mn in 2032, as compared to US$ 426.30 Mn in 2022.

Growth Drivers:

• Surging number of healthcare awareness campaigns run by governments is set to increase per capita spending on healthcare, thereby driving the global market.
• Increasing number of hospitals and pathology labs across the globe is projected to foster sales of tissue processor equipment.

Restraints:

• Lack of funds in several public hospitals may restrict the affordability of expensive laboratory instruments and hamper growth.
• Lower accessibility and availability of quality healthcare services across Central and South America, the Middle East & Africa, and Asia may hinder growth.

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Competitive Landscape:

Leading organizations are spending on research and development activities to stay ahead in the market. Also, some of the other companies are focusing on acquisitions, mergers, and collaborations to surpass their competitors by co-developing novel products.

For instance,

• In January 2021, Inverness Graham Investment acquired Electron Microscopy Sciences to provide laboratory consumables and reagents to ancillary lab research markets. The acquisition would enable Inverness to strengthen its position as a go-to provider of consumables, sample prep reagents, histology, and microscopy products used in research lab settings.
• In October 2020, Sakura Finetek Europe announced the launch of Tissue-Tek SmartConnect. It will help in enabling the fully automated continuous flow by connecting, processing, and embedding in the histology lab.

Key Companies Profiled by Fact.MR

• Siemens AG
• Milestone Medical
• Roche Diagnostics
• BioGenex Laboratories
• Agilent Technologies Inc.
• Merck KGaA
• Thermo Fisher Scientific Inc.
• Danaher Corporation

More Valuable Insights on Tissue Processor Equipment Market

In the latest study, Fact.MR offers a detailed study of global tissue processor equipment market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of tissue processor equipment through detailed segmentation as follows:

By Component:

• Fixative
• Ethanol

By Industry:

• Hospitals
• Laboratories
• Pharmaceutical Companies

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

Key Questions Covered in the Tissue Processor Equipment Market Report

• What is the global tissue processor equipment market outlook?
• How much tissue processor equipment market share does Europe have?
• What is the tissue processor equipment market share of the top 3 countries?
• What is the current tissue processor equipment market valuation?

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