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Tissue Processing System Market is segmented by product type that is Small Volume Tissue Processors, Medium Volume Tissue Processors, Rapid High Volume Tissue Processors also by modality such as Stand-Alone Tissue Processing Unit, Bench-Top Tissue Processing Unit and by technology such as Microwave Tissue Processors, Vacuum Tissue Processors.
According to Persistence Market Research, the global tissue processing systems market is anticipated to witness significant market valuation by the end of the year of assessment. During the 2017-2025 timeline, the global market is expected to exhibit a healthy growth rate owing to increase in adoption of tissue processing systems across regions worldwide.
In 2017, the global tissue processing systems market was worth around US$ 280 Mn and is expected to reach a valuation of more than US$ 400 Mn by the end of the assessment year (2025). This growth can be attributed to the rise in prevalence of cancer, advancements in technology and rise in lifestyle diseases and geriatric population across the globe.
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The emerging economies of the Asia Pacific and MEA regions are expected to offer lucrative opportunities for tissue processing system manufacturers owing to the rapid changes in healthcare reforms and the disproportionately growing aging population. For instance, the United Nations report states that two third of the global older population resides in the developing nations and the number is growing at a faster pace compared to developed regions.
It projects that the geriatric population in the less developed regions is projected to grow by 71% between 2015 and 2030. This growth in geriatric population will increase the patient population in the region that would be needing screening and diagnosis for a large number of chronic diseases.
Moreover, the healthcare spending in emerging markets continues to increase with their economic growth and hence they are expected to become major markets for medical device manufacturers. For instance, the World Economic Forum 2014 report estimates that almost one-third of the global health expenditure will be utilized in emerging markets by 2022.
There is a huge market potential in the developing and under-developed markets as the governments are focused on improving the healthcare spending and infrastructure to offer affordable advanced health care solutions to the growing patient population in these regions.
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Get a Customized VersionSmall volume tissue processors segment in the product type category is expected to incur high revenue by the end of the assessment period. This segment is poised to expand at a CAGR of 4.4% during the period of forecast, 2017-2025. It is estimated to be valued at around US$ 180 Mn by the end of the year of assessment (2025) from a market valuation of US$ 127.5 Mn in 2017. In 2017, this segment led the global market in terms of market revenue and is likely to retain its status quo by the end of the year of assessment.
Medium volume tissue processors segment is expected to grow at a comparatively high CAGR of 6.3% throughout the period of forecast. This segment is valued at around US$ 89 Mn in 2017 and is anticipated to reach a significant valuation by the end of the forecast period. It is also the second largest segment from a market share perspective.
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