Report : Tissue Processing Systems Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Product (Tissue Transfer Processors and Fluid Transfer Processors), Volume (Small Volume Processors, Medium Volume Processors, and Large volume processors), and End User (Hospitals, Pharmaceutical Companies, Research laboratories, and Others) and Geography
Pharmaceutical Companies to Register Highest CAGR in Tissue Processing Systems Market During Forecast Period
According to our new market research study on “Tissue Processing Systems Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product, Volume, and End User,” the market is expected to reach US$ 493.76 million by 2027 from US$ 335.78 million in 2019; it is estimated to grow at a CAGR of 5.1%from 2020 to 2027. The report highlights trends prevailing in the global tissue processing systems market, and the factors governing the market growth.
On the basis of end user, the tissue processing systems market is segmented into hospitals, pharmaceutical companies, research laboratories, and others. The hospitals segment held the largest share of the market in 2019. However, the pharmaceutical companies segment is estimated to register the highest CAGR in the market during the forecast period. Pharmaceutical companies are constant striving to identify new diagnostic and therapeutic methods for treating chronic diseases. Growing biopharmaceutical industry is also likely to favor the growth of the market for this segment. As per the Pharmaceutical Research and Manufacturers Association (PhRMA), US companies conduct more than half of the world's R&D in pharmaceuticals (costing ~US$ 75 billion) and hold the intellectual property rights on most new medicines.
The global tissue processing systems market growth is mainly attributed to as the increasing prevalence of cancer and rising number of diagnostic laboratories. However, the high cost of cancer diagnosis may hinder the market growth.
Agilent Technologies, Inc., Biogenex Laboratories, Sakura FinetekUsa, Inc., Thermo Fisher Scientific Inc., Roche Diagnostics, Siemens Ag, Avantor, Milestone Medical, Leica Biosystems (Danaher Corporation), and Miltenyi Biotec are among the leading companies operating in the tissue processing systems market.
The report segments global tissue processing systems market as follows:
By End User