Frost & Sullivan Unveils Future Opportunities for the Tissue Diagnostics Market

Frost & Sullivan Unveils FutureFrost & Sullivan Unveils Future Opportunities for the Tissue Diagnostics Market PR Newswire LONDON, Oct. 22, 2013 - Reimbursement cuts and hospital consolidation affect purchasing trends for 2013 and 2014 The global market for tissue diagnostic products accounted for $2.4 billion in 2012 and is estimated to reach $3.5 billion by 2017. Together, Europe and the United States contribute to about 79 percent of the market, leaving the remaining share to Asia-Pacific (APAC) and rest of world economies. A new market insight from Frost & Sullivan, Tissue Diagnostics - Reimbursement Cuts and Hospital Consolidation to Affect Purchasing Trends for 2013 and 2014, explores market opportunities, as well as challenges for 2014 onwards. For most Tier 1 companies, factors such as reimbursement cuts and heavy hospital consolidation have massively affected the sale of equipment. Advanced technology applications like automatic stainers, microtomes and tissue processors require capital financing, and capital budgets are always a problem. "Customer consolidation is a key challenge which leaves vendors with very few customers to compete for," notes Frost & Sullivan Healthcare Research Analyst Divyaa Ravishankar. "Both in Europe and the United States, consolidation is affecting the hospital industry, as well as clinical laboratories.