Global Tissue Processor Equipment Market: Overview
The global market for tissue processor equipment is likely to exhibit growth at a promising rate in the next few years owing to the increasing focus on R&D activities surrounding the use of tissue processors and laboratory instruments as demand for diagnostic methods rises globally. The massive rise in prevalence of a number of chronic diseases such as cancer, diabetes, and a variety of cardiovascular conditions have necessitated the development of more reliable diagnostic and therapeutic procedures.
The rising geriatric population of the globe is also presenting the increased demand for effective diagnostic and treatment measures as the demographic is more susceptible to a number of infections and chronic conditions. This factor is also likely to emerge as a key growth factor for the market in the next few years. Moreover, the vast rise in the number of diagnostic and therapeutic institutions such as pathology labs, specialty clinics, and hospitals has also increased the adoption of tissue processors.
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Geographically, the market in North America presently accounts for the dominant share of revenue to the global market. However, the market in Asia Pacific is likely to emerge as the most promising regional market in terms of new growth opportunities in the next few years.
Tissue processing is a procedure that generally takes place between sectioning/embedding and fixation of paraffin blocks. Tissue processor or tissue processing system is a vital equipment for the processing of pathology specimens. It is designed for the pathological and histological applications such as fixation, dehydration, clearing, wax infiltration of tissue specimens, and embedding. Tissue processing can be performed either manually (hand processing) or by using automated tissue processor particularly to deal with multiple specimens in a more convenient and efficient manner.
Tissue Processor Equipment Market- Drivers
The per capita spending on healthcare is increasing across the globe. The will and ability of individuals to spend on wellness has led to an incremental shift in the medical and healthcare industry and is significantly expected to drive the medical device industry in near future. Geriatric population is more susceptible to lifestyle diseases and disorders, such as cancer, which are the leading causes of illness globally. This is expected to drive the demand for laboratory instruments including tissue processors. Also with the growth in the number of hospitals and pathology laboratories, the adoption of tissue processors would increase that can meet the rising demand for diagnostic and therapeutic services, which in turn are expected to drive the growth of the tissue processor equipment market.
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Tissue Processor Equipment Market- Restraints
Lack of funds is one of the major challenges faced by most of the public hospitals in across regions in emerging economies which restricts the affordability of advanced laboratory instruments. Availability of trained and highly skilled technicians is essential to carry out the functioning of tissue processors for microscopic analysis of tissues. Although the market is witnessing large number of technological innovations with emphasis on the development of tissue processing, the dearth of trained technicians to operate the tissue processors is poised to hinder the growth of the tissue processor equipment market.
Tissue Processor Equipment Market- Regional Overview
Tissue processor equipment market is expanding worldwide that is in direct proportion to the increase in adoption of tissue processors to enhance lab efficiency. Over the forecast period, North America region captures largest market share. On the other hand in Asia-Pacific region, China is anticipated to witness comparatively high growth due to increase in prevalence of cancer, rise in adoption of tissue processors to enhance laboratory efficiency for same day diagnosis, and shortage of pathologists in the country.
Tissue Processor Equipment Market- Key Players
Companies focus on strategic expansion of their business units and related products in the tissue processor equipment market. Major strategies associated with this market are product launch, distribution partnership or agreements. Jokoh Co. Ltd., Milestone Srl, Leica Biosystems Nussloch GmbH, Bio-Optica Milano SpA, Thermo Fisher Scientific Inc., MEDITE GmbH, Sakura Finetek Europe B.V., Agar Scientific Ltd., Slee medical GmbH, and General Data Company Inc. are some of the key vendors functioning in the tissue processor equipment market.
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