Dublin, Oct. 19, 2023 (GLOBE NEWSWIRE) -- The "Global Fluorescent in Situ Hybridization (FISH) Probe Market: (by Product, Technology, End User, Application, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)" report has been added to ResearchAndMarkets.com's offering.
The global FISH (Fluorescent in Situ Hybridization) probe market is set for substantial growth, with a projected valuation of US$1.64 billion by 2023, driven by a robust compound annual growth rate (CAGR) of 8.11% during the forecast period. FISH probes are vital in visualizing genetic material and are used to detect chromosomal structural and numerical anomalies, monitor drug effects, and diagnose rare genetic disorders.
Key Market Segments
- By Product: The market is categorized into two segments: instrument/software and consumables. The instrument/software segment currently holds the largest market share, while the consumables segment is expected to experience significant growth due to its extensive use in detection methods.
- By Technology: The market comprises three technology segments: Q FISH, Flow FISH, and others. Q FISH technology currently dominates the market, closely followed by Flow FISH technology. The demand for In Vitro Diagnostics (IVD) testing and targeted therapies is driving the growth of these segments.
- By End User: Market segments based on end-users include clinical procedures, research, and companion diagnostics. Clinical procedures have the largest share, driven by the extensive use of FISH probes in diagnostic and prognostic applications. The increasing incidence of genetic disorders, solid tumors, leukemia, autism, and other syndromes is expected to further boost the clinical procedures segment.
- By Application: The market is bifurcated into cancer diagnostics and others. Cancer diagnostics hold the majority share in the market, driven by the rising incidence of cancer cases globally. Factors such as unhealthy lifestyles, an aging population, environmental factors, and overall health conditions contribute to the increasing cancer prevalence.
Geographic Coverage
The global FISH probe market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America based on geographical operations. North America, led by the US, holds the largest market share due to a high incidence rate of genetic disorders leading to various health conditions. Germany dominates the European market, driven by the growth of the pharmaceutical and biotechnology sectors.
Top Impacting Factors
Growth Drivers
- Growing Aging Population
- Rapid Urbanization
- Increasing Prevalence of Cancer and Genetic Disorders
- Growing Requirements for In Vitro Diagnostics (IVD) Testing
Challenges
- Rising Pathologist Shortages
- Lack of Efficient Digitalization Solutions and Advanced Automation Capabilities
Trends
- Escalating Demand for Big Data
- FISH Automation
Driver: Growing Requirements for In Vitro Diagnostics (IVD) Testing
The increasing global demand for In Vitro Diagnostics (IVD) testing and targeted therapies is a significant driver of market growth. FISH tests can detect subtle genetic changes that are often missed by standard cytogenetic tests, making them valuable for diagnosing, predicting outcomes, and managing cancer and genetic disorders.
The development of automated IVD systems for laboratories and hospitals enhances efficiency, accuracy, and error-free diagnoses. Molecular diagnostic capabilities provided by IVD products deliver effective and precise results. As the demand for IVD testing continues to rise, the FISH probe market is expected to flourish.
Challenge: Lack of Efficient Digitalization Solutions and Advanced Automation Capabilities
The FISH probe market faces several challenges, including a shortage of skilled pathologists for result analysis and interpretation. Additionally, the lack of efficient digitalization solutions and advanced automation capabilities hinders the standardization of care.
Current systems often require human intervention, leading to time inefficiencies and variability in results. Unequal distribution of diagnostic capabilities also contributes to geographic variations in diagnostic quality.
Trend: FISH Automation
Automated FISH probe analysis offers numerous advantages over manual procedures, including objectivity and replicability. Automation eliminates human judgment, providing unbiased cell classification. Automated platforms rely on pre-defined parameters, ensuring highly replicable results. Automation is expected to drive the standardization of FISH procedures, reduce the need for highly trained technicians, and minimize inherent variability.
The COVID-19 Analysis
In 2020, the global FISH probe market witnessed accelerated growth due to increased research related to COVID-19 biology and diagnostics. In situ hybridization probes played a crucial role in studying the virus's biology and potential threats to human health. However, pandemic-related lockdowns slowed research due to workforce unavailability, creating supply-demand gaps. Despite these challenges, the global in situ hybridization probe market is forecasted to grow at a robust rate.
Analysis of Key Players
The FISH probe market is fragmented, with both major players and numerous smaller entities.
Companies Mentioned:
- Abbott Laboratories
- Abnova Corporation
- Agilent Technologies
- Biocare Medical, LLC
- Bio-rad Laboratories, Inc.
- Bio-Techne Corporation
- Danaher Corporation
- Genemed Biotechnologies, Inc.
- LGC Group
- PerkinElmer, Inc.
- Roche Holdings AG
- Sysmex Corporation
- Thermo Fisher Scientific Inc.
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