Assessment of COVID-19 Impact: Producers of Tissue Processor Equipment Forced to Temporarily Halt Operations, as Demand Slows Down – Fact.MR Report

Posted on 2021-02-09 by Future Market Insights, Inc in Healthcare // 0 Comments

CITY, Country, 2021-Feb-09 — /EPR Network/ —

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.

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Health care stakeholders are implementing payment reforms such as value-based payment models that help providers, payers, and patients achieve the best outcomes at the lowest cost. Technology-enabled patient engagement strategies are enabling increased financial independence for patients in their health care decisions, in addition to improving interactions with their health care systems. Governments are also moving the needle by adopting universal health coverage and introducing pricing controls on pharmaceuticals and medical technology devices. Population health management (PHM) is being used to identify people’s health care needs and offer services accordingly.

Big data and analytics will drive patient outcomes in a big way, and the coming years will witness a growing emphasis on healthcare service providers in the business of gathering and processing patient health data. Creating outcome-oriented financial models to maximize reimbursements in value-based healthcare will be a strategic shift from the traditional fees-for-services model. This implies that pharmaceutical companies will need to devise appropriate measures to optimize costs and improve the quality of patient care.

Mass technological transformation of the global healthcare industry has left key market participants struggling to traverse the complexities of medical and life sciences. Given the shifting dynamics of the global healthcare sector, pharma and biotech companies are taking measured efforts to improve patient outcomes in an effective manner, while keeping a careful watch on the bottom line.

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.

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.

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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.

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.

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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.

This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on

Market Dynamics
Market Size
Market Segments
Demand & Supply Trends
Current Issues and Challenges
Companies and Competitor Landscape
Value Chain
Technology

Regional Segments Analyzed Include

North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, N. Africa)

Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.

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