In 2016, the United States dominated the tissue microarray market in the Americas, holding the largest market share. The market in the U.S. is anticipated to witness substantial growth, reaching USD 1,931.11 million by 2023, up from USD 912.56 million in 2016. Meanwhile, Canada emerges as the fastest-growing region in the Americas, boasting a Compound Annual Growth Rate (CAGR) of 10.28% during the forecast period spanning from 2017 to 2023.
Immunohistochemistry took the lead in terms of market share in 2016, and its trajectory suggests further growth. The market for immunohistochemistry is projected to reach USD 638.84 million by 2023, showcasing a notable increase from USD 294.19 million in 2016. Notably, frozen tissue array is identified as the fastest-growing segment within this domain, expected to exhibit a robust CAGR of 10.05% during the forecast period.
In the realm of DNA Microarray, it held the largest market share in 2016, with projections indicating continued growth. The market for DNA Microarray is expected to reach USD 519.08 million by 2023, surpassing its 2016 value of USD 236.88 million. Concurrently, the Polymerase Chain Reaction (PCR) market represents the second-largest market, recording a market value of USD 183.61 million in 2016.
Sequencing Bioinformatics claimed the largest share of the market in 2016, and its ascendancy is poised to persist. Projections indicate that the market for Sequencing Bioinformatics will reach USD 462.70 million by 2023, escalating from USD 211.89 million in 2016. In the same domain, the Oncology market stands as the second-largest, with a market value of USD 187.00 million in 2016.
This comprehensive overview underscores the dynamic landscape of the tissue microarray market in the Americas. The dominance of the U.S. market, coupled with the impressive growth forecast for Canada, signifies a thriving industry. Additionally, the varied segments within tissue microarray technology, such as immunohistochemistry, DNA Microarray, and Sequencing Bioinformatics, each contribute significantly to the overall market landscape. As advancements in medical technologies continue to unfold, the tissue microarray market in the Americas is poised for sustained growth, with diverse applications and segments contributing to its expansion.