The global fluorescent in situ hybridization (FISH) probe market in 2021 was valued at US$1.40 billion. The market value is expected to reach US$2.24 billion by 2027. A Fluorescent in Situ Hybridization (FISH) Probe refers to a sub-atomic cytogenetic technique that uses fluorescent probes to visualize genetic materials. They are used to identify structural and numerical abnormalities in chromosomes, therapeutic drug monitoring and the identification of rare genetic diseases.
In comparison to the traditionally used standard cytogenetic (cell gene) tests, FISH tests can identify minute genetic changes that are usually missed under the microscope. These probes are therefore widely used for the diagnosis, prediction of outcomes and clinical management of cancer and genetic disorders. The market is expected to grow at a CAGR of 8.21% during the forecast period of 2022-2027.
Market Segmentation Analysis:
- By Product: The report provides the bifurcation of the market into two segments based on the product: instrument/ software and consumables. In 2021, instrument/ software segment held a major share in the market. On the other hand, the consumables segment is expected to grow at a significant CAGR in the forthcoming years, owing to the wide range of consumables used in the detection.
- By Technology: The report provides the bifurcation of the market into three segments based on the technology: Q FISH, Flow FISH and others. In 2021, Q FISH technology segment held a major share in the market. This was being followed by Flow FISH technology segment. Growing demand for In Vitro Diagnostics (IVD) testing and targeted medicines around the world is also propelling this segment forward.
- By End User: The report provides the bifurcation of the market into three segments based on the end user: clinical procedures, research and companion diagnostics. In 2021, clinical procedures segment held a major share in the market. This was being followed by research segment. The high share of clinical procedures can be attributed to the large number of diagnostic centers and their widespread use of FISH for diagnostic and prognostic purposes. The rise in the number of incidents related to genetic disorders, solid tumors, leukemia, autism, and other syndromes is predicted to stimulate market demand for FISH Probe over the forecast period, thus boosting the growth of clinical procedures segment.
- By Application: The report provides the bifurcation of the market into two segments based on the application: cancer diagnostics and other. In 2021, cancer diagnostics segment held a major share of in the market. The increase in the incidence rate of cancer cases is anticipated to drive the growth. Rising unhealthy lifestyle, aging population, health conditions, and environment are leading factors for causing cancers. With the rise in the number of cancer cases, the need for in FISH situ hybridization techniques for rapid and efficient diagnosis is high.
- By Region: The report provides insight into the FISH Probe market based on the geographical operations, namely North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America held the major share in the market, owing to high incidence rate of genetic disorders leading to birth defects, developmental disabilities, and other metabolic syndromes.
- Within North America, the US is leading the market, due to the presence of a considerable number of market players and incentivized research projects by the regional government. Whereas, in the Europe region, Germany is dominating the market due to growing pharmaceutical and biotechnology sectors.
Market Dynamics:
- Growth Drivers: One of the most important factors impacting the global FISH Probe market is increasing prevalence of cancer and genetic disorders. Furthermore, the growing requirements for in vitro Diagnostics (IVD) testing is driving the FISH Probe market. The development of automated IVD systems for laboratories and hospitals provide efficient, accurate, and error-free diagnoses. Also, IVD products with molecular diagnostic capabilities deliver effective and accurate results. Thus with growth in IVD testing, the Fluorescence In situ hybridization probe market is expected to propel during forecasted years. Furthermore, the market has been growing over the past few years, due to factors such as rapid urbanization, aging population, technological advancements and many other factors.
- Challenges: However, the market has been confronted with some challenges specifically, lack of efficient digitalization solutions and advanced automation capabilities, etc.
- Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as the escalating demand for big data, FISH automation, etc. The market players are seeking the third generation technologies in the FISH probe field. This includes the addition of powerful big data analytics tools, an AI algorithm for superior speed and accuracy in data interpretation, access to cloud computing for data management, and direct imaging technology for analysis of both dark field (FISH and immunofluorescence) and bright field (H&E, IHC) microscopy. The rising demand of big data is thus expected to influence growth positively in the FISH In situ hybridization probe market during forecasted years.
Impact Analysis of COVID-19 and Way Forward:
In 2020, the global in FISH situ hybridization probe market had seen an acceleration in its growth rate due to the terms left by COVID-19. The concept of in situ hybridization probe plays a crucial role in studying the biology of the novel virus and identifying its potential threats to the human body. Therefore, the governments of various countries and private institutions have increased their funding on in situ hybridization probe to conduct extensive R&D to figure out the related findings. However, the lockdown imposed worldwide has affected the research process by slowing them due to the unavailability of the workforce and created a gap between supply and demand. However, the global in situ hybridization probe market is forecasted to grow at a better growth rate.
Competitive Landscape:
The FISH Probe market is a fragmented market. The industry is also filled with a myriad of small players who are, for the most part, overshadowed by bigger players due to their lack of distinctive product differentiation.
The key players in the global FISH Probe market are:
- Thermo Fisher Scientific Inc.
- Bio-rad Laboratories, Inc.
- Roche Holdings AG
- Bio-Techne Corporation
- Abbott Laboratories
- PerkinElmer, Inc.
- Biocare Medical LLC
- Agilent Technologies
- Sysmex Corporation
- Abnova Corporation
- LGC Group
- Genemed Biotechnologies, Inc.
- Danaher Corporation
Some of the strategies among key players in the market for FISH probe market are mergers, acquisitions, and collaborations. For instance, in 2022, Bio-rad Laboratories, Inc. announced that the company has reached an agreement to acquire all of the outstanding shares of Curiosity Diagnostics, Sp. Z. o. o. from Scope Fluidics, S.A. (WSE NewConnect: SCP), a Warsaw, Poland, based developer of innovative technology solutions for the medical diagnostic and healthcare markets. Whereas, PerkinElmer launched the Cellaca® PLX Image Cytometry System, a first-of-its-kind benchtop platform that enables researchers to assess multiple Critical Quality Attributes (CQAs) of cell samples in a single automated workflow.
Table of Contents
1. Executive Summary
Companies Mentioned
- Thermo Fisher Scientific Inc.
- Bio-rad Laboratories, Inc.
- Roche Holdings AG
- Bio-Techne Corporation
- Abbott Laboratories
- PerkinElmer, Inc.
- Biocare Medical LLC
- Agilent Technologies
- Sysmex Corporation
- Abnova Corporation
- LGC Group
- Genemed Biotechnologies, Inc.
- Danaher Corporation
Methodology
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