FFPE Tissue Samples Market Size to Gain Traction of US$ 2.75 Billion, Growth Opportunities by 2031
FFPE Tissue Samples Market: Introduction
According to the report, the global FFPE tissue samples market was valued over US$ 1.64 Bn in 2020, and it is projected to expand at a CAGR of 4.8% from 2021 to 2031. FFPE is a form of preparation and preservation for biopsy specimens, which helps in diagnostic/drug development, experimental research, and examination.
A tissue sample is first fixed in formalin, also known as formaldehyde, to preserve vital structures and the proteins within the tissue. Subsequently, the tissue is embedded in a paraffin wax block; this helps for examination under a microscope. The global FFPE tissue samples market is expected to be driven by the expansion of the pharmaceutical sector during the forecast period.
North America held a major share of the global FFPE tissue samples market in 2020, due to high demand for FFPE tissue samples in the region. Additionally, technological advancements drive the demand for FFPE tissue samples, which is expected to augment the market in the region.
The FFPE tissue samples market in Asia Pacific is likely to expand at a high CAGR of 5.35% from 2021 to 2031 due to an increase in prevalence and incidence of chronic diseases such as cancer.
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Proteomic Study & Analysis to Offer Lucrative Opportunities
In terms of application, the global FFPE tissue samples market has been classified into genomic study & analysis and proteomic study & analysis. The proteomic study & analysis segment dominated the global FFPE tissue samples market in 2020, and the trend is projected to continue during the forecast period. The genomic study & analysis segment has been split into whole genome sequencing & amplification, next generation sequencing, and DNA Extraction. The proteomic study & analysis segment has been segregated into protein extraction and clinical proteomics.
FFPE Diseased Tissue Samples Held Major Share of FFPE Tissue Samples Market
Based on tissue sample type, the global FFPE tissue samples market has been categorized into FFPE normal tissue samples and FFPE diseased tissue samples. The FFPE diseased tissue samples segment held a major share of the global FFPE tissue samples market in 2020. Increase in prevalence and incidence of cancer drives the segment.
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Research & Scientific Laboratories to be Highly Promising End Users
In terms of end user, the global FFPE tissue samples market has been divided into research & scientific laboratories, diagnostic laboratories, and specialized clinics. The research & scientific laboratories segment held a major share of the global FFPE tissue samples market in 2020.
North America to Dominate Global Market; Asia Pacific to Offer Significant Opportunities
In terms of region, the global FFPE tissue samples market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is anticipated to account for a leading share of the global FFPE tissue samples market during the forecast period. The FFPE tissue samples market in Asia Pacific is projected to expand at a rapid pace in the near future. India and China are likely to be lucrative markets for FFPE tissue samples during the forecast period.
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Growth Strategies of Key Players
Key players operating in the global FFPE tissue samples market are AMSBIO, BioChain Institute, Inc., Cureline, Discovery Life Sciences, Geneticist, Inc., Lab-Ally, Merck KGaA, OriGene Technologies, Inc., PrecisionMed, Inc., Pressure BioSciences, Inc., ProteoGenex, REPROCELL, Inc., and TriStar Technology Group LLC. These companies engage in the development of FFPE tissue samples in order to expand product offerings and customer base.
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