Newark, NJ, Sept. 15, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global in situ hybridization market is expected to grow from USD 923.21 million in 2019 and to reach USD 1658.81 million by 2027, growing at a CAGR of 7.6% during the forecast period 2020-2027.
The increase in the number of cancer cases throughout the world has accelerated the demand for in situ hybridization. The increasing automation in the diagnostic kits used for in situ hybridization helps in the real time diagnosis and thus helps to provide effective treatment. Further, the increasing demand for therapeutics technology due to the growing awareness about early detection of cancer diseases has also helped to gain significant market shares.
The in situ hybridization helps in detection of the sequence of a specific nucleic acid within a cell. The in situ hybridization is a basic level method used in developmental biology. It quantifies and visualizes relevant molecules. It is found to be the most effective technique for visualization of the genes expression. The breaking down of gene expression provides temporal and spatial information which forms as the initial step in understanding the functions of the genes. The in situ hybridization comprises of technology that enables specific localization of the DNA and RNA of nucleic acid. The RNA and DNA provide information about the organization of the cell. The in situ hybridization consists of various steps which includes sampling, sectioning, fixation, etc.
The increasing government initiatives have helped the market to grow many folds in the recent years. The high value in situ hybridization is been increasingly demanded owing to the technological development. The developing countries are participating increasingly owing to the expanding healthcare base and per capita income of the local population. However, the market is ought to get affected by the high cost of research and development. Apart from this, the availability of the presence of advance technology such as genome sequencing and microarray is restraining the market growth.
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Key players operating in the global in situ hybridization market include Thermo Fisher Scientific Inc., Agilent Technologies Inc., GENERAL ELECTRIC, Siemens, NeuroLogica Corp., Leica Biosystems Nussloch GmbH, Merck KGaA, PerkinElmer Inc., Oxford Gene Technology, Advanced Cell Diagnostics Inc., Danaher, BioGenex, Koninklijke Philips N.V., Ziehm Imaging GmbH, Bio SB, Abbott, F. Hoffmann-La Roche Ltd., Medtronic, IMRIS and others. The majority of the manufacturers present in the in situ hybridization market are keen to adopt specific expansionary strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships, in order to gain higher market shares and strengthen their position in the market. Thermo Fisher Scientific and Siemens AG are some of the biggest manufacturers present in the global market of the in situ hybridization.
- In March 2020, Creative Bioarray which is a US based manufacturer launched the FISH Probes for detection of viral particles in the infected tissues and cells.
- In July 2020, Roche launched the VENTANA HER2 Dual ISH DNA Probe Cocktail assay.
Fluorescence In-Situ Hybridization (FISH) dominated the market and held the largest market share of 63.92% in the year 2019
On the basis of the technology segment, the global in situ hybridization market includes chromogenic in-situ hybridization (CISH) and fluorescence in-situ hybridization (FISH). The fluorescence in-situ hybridization (FISH) further includes DNA FISH, RNA FISH and PNA FISH. Fluorescence in-situ hybridization (FISH) dominated the market and held the largest market share of 63.92% in the year 2019. The fluorescence in-situ hybridization is used for detection of chromosomal abnormalities and diagnosis of various infectious diseases. It is also used widely in the research and development activities of developmental biology.
Consumables dominated the market and held the largest market share of 31.05% in the year 2019
On the basis of the technology segment, the global in situ hybridization market includes instruments, consumables, services and software. Further, the consumables segment includes probes, kits and reagents and accessories. Consumables dominated the market and held the largest market share of 31.05% in the year 2019. The consumables are found to be most effective in detection of cancer at an early stage. It is also used for detection of genetic disorders. These consumables are used for specific purposes and are reliable to use.
Cancer Diagnostics dominated the market and held the largest market share of 32.83% in the year 2019
On the basis of the technology segment, the global in situ hybridization market includes cancer diagnostics, neuroscience, immunology, infectious disease diagnostics, cytology and others. Cancer diagnostics dominated the market and held the largest market share of 32.83% in the year 2019. The reason of the same can be attributed to the huge demand of FISH technology in the detection of genetic and cellular markers due to the growing prevalence of cancer.
Hospitals dominated the market and held the largest market share of 35.81% in the year 2019
The end-user segment includes academic and research institutes, pharmaceutical and biotechnology companies, hospitals and diagnostic centres and contract research organizations (CROs). Hospitals dominated the market and held the largest market share of 35.81% in the year 2019. The hospitals perform higher number of molecule based screening and speciality diagnostic tests which has led to the dominance of the segment over the years in the market. Moreover, the increase of in-house diagnostic capabilities has also contributed to the market growth.
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Regional Segment Analysis of the In Situ Hybridization Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global in situ hybridization market is classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region accounted for a significant market share of 36.90% in the year 2019. The region has witnesses a massive increase in the prevalence of cancer and other infectious diseases which has increased the demand for diagnostic tests and specialised medicines. Thus, the in situ hybridization market has grown in the market in the last decade. Further, the rapidly increasing technological development has accelerated the market growth in the region. However, Asia-Pacific is expected to register a prospering market growth. The increasing healthcare expenditure along with the growing awareness among consumers is driving the market in the region.
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About the report:
The global in situ hybridization market is analyzed on the basis of value (USD Million). All the segments have been analyzed on a global, regional, and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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